Banks sink on European economic worry
NEW YORK (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.
Fitch downgrades Greece on debt swap plan
ATHENS (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.
Home resales at 1-1/2 year-high, supply falls
WASHINGTON (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.
HP profit plummets, CEO urges patience
SAN FRANCISCO (Reuters) - Hewlett-Packard Co's earnings fell nearly 44 percent and the world's No. 1 computer maker forecast a second-quarter profit below Wall Street estimates as it struggles with weak sales of PCs and printers.
Burned before, Fed officials cautious on rebound
WASHINGTON (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.
U.S. wants more talks on Japan bid to join Pacific trade group
WASHINGTON (Reuters) - The United States said on Wednesday it was still considering whether to support Japan's bid to join talks on a trans-Pacific regional free trade agreement, three months after Tokyo announced interest in the negotiations.
Greece pores over bailout laws amid protests
ATHENS (Reuters) - Trade unionists, communists and pensioners angry at punishing spending cuts in Greece marched through central Athens on Wednesday as lawmakers set to work on legislation needed to secure payment of a second bailout for the debt-laden country.
G20 hopes for progress on EU debt crisis: Carstens
MEXICO CITY (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.
Buffett's Berkshire muscles into Thai reinsurance
HONG KONG/BANGKOK (Reuters) - Warren Buffett's Berkshire Hathaway is pushing into the Thai reinsurance market and selling cover for higher rates, taking advantage of the retreat of competitors such as France's CCR after they suffered losses from last year's floods.
Exclusive: Palo Alto Networks, other tech firms tee up IPOs
NEW YORK (Reuters) - A series of technology companies, including security software maker Palo Alto Networks, are preparing to go public on the heels of Facebook's $5-billion filing, sensing a window of opportunity as the stock market rallies.