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Yahoo! News: Business News
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Romney proposes 28 percent top income tax rate
(Reuters)
Reuters - Republican Mitt Romney revised his proposal for overhauling the U.S. tax code on Wednesday, calling for all individual tax rates to be cut by 20 percent while declining to offer specifics on how to make up the lost revenue from lower rates.
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Ford to add $3.8B to pension plans this year
(AP)
AP - Ford Motor Co. will pump $3.8 billion into its global pension plans this year as it tries to get them closer to fully funding their obligations.
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HP CEO pleads patience as earnings fall 44 pct
(AP)
 AP - Hewlett-Packard Co. CEO Meg Whitman pleaded for patience Thursday as she described operational challenges and other internal problems that contributed to a decline in earnings at one of the world's largest technology companies.
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Obama seeks corporate tax rate cut, loophole limit
(AP)
 AP - President Barack Obama rolled out a corporate tax overhaul plan Wednesday that lowers rates but also eliminates loopholes and subsidies cherished by the business world. A long-shot for action in an election year, the plan nevertheless stamps Obama's imprint on one of the most high-profile issues of the presidential campaign.
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Some money from mortgage settlement to be diverted
(AP)
AP - The ink wasn't even dry on a settlement with the nation's top mortgage lenders when Missouri Gov. Jay Nixon laid claim to a chunk of the money to avert a huge budget cut for public colleges and universities.
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G20 hopes for progress on EU debt crisis: Carstens
(Reuters)
Reuters - Group of 20 policymakers are hoping for a signal this weekend that Europe will boost crisis funding, smoothing the way for a deal to increase International Monetary Fund resources, the head of Mexico's central bank said on Wednesday.
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Oil prices rise on continued concern about Iran
(AP)
 AP - Oil prices rose Wednesday on the expectation that world supplies could be squeezed further because of ongoing tensions with Iran.
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Burned before, Fed officials cautious on rebound
(Reuters)
Reuters - U.S. central bank officials have good reason to be skeptical about the strength of the economy: excessive optimism has caught them flat-footed before.
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Banks sink on European economic worry
(Reuters)
 Reuters - Banks led stocks lower on Wednesday as the S&P 500 stalled near a 10-month-high after signs of weak European business activity rekindled concerns about a recession overseas.
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Home resales at 1-1/2 year-high, supply falls
(Reuters)
 Reuters - Home resales rose to a 1-1/2-year high in January, pushing the supply of properties on the market to the lowest level in almost seven years in a hopeful sign for the housing sector.
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Take Two: Can a Second Bailout Save Greece?
(Time.com)
Time.com - After months of delays, arguments and doubts, euro zone finance ministers agreed on a second, $170 billion bailout of beleaguered Greece in the early hours of Tuesday morning
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Greek lawmakers rush to clear promised austerity
(AP)
AP - Greece scrambled Wednesday to push through a batch of emergency laws that will further cut incomes and state spending, a day after securing a new bailout and debt relief deal designed to stave off bankruptcy.
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Fitch downgrades Greece on debt swap plan
(Reuters)
Reuters - Fitch cut Greece's long-term ratings on Wednesday to its lowest rating above a default, becoming the first ratings agency to make the widely expected downgrade after the country announced a bond exchange plan to ease its massive debt burden.
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Bank of England panel split on size of stimulus
(AP)
AP - Bank of England rate-setters were divided this month on the vote to inject another 50 billion pounds ($79 billion) into the British economy, with two members arguing that a bigger stimulus was needed, minutes to their last meeting showed Wednesday.
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Holiday spending pushes Macy's 4Q profit higher
(AP)
 AP - A strong holiday shopping season and hearty online sales pushed Macy's Inc.'s fourth quarter net income up 12 percent. That topped Wall Street's expectations, and the department store chain's stock hit a 52-week high.
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World stocks rise on hopes for Greece, US economy
(AP)
 AP - Stock markets advanced Friday on hopes that Greece would soon get its crucial second bailout and following another batch of upbeat U.S. economic news.
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