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Obama seeks corporate tax rate cut, loophole limit (AP)

President Barack Obama, accompanied by Vice President Joe Biden, talks about the importance of the payroll-tax cut and jobless-benefits extension compromise that bi-partisan House and Senate conferees reached last week, Tuesday, Feb. 21, 2012, in the Eisenhower Executive Office Building on the White House complex in Washington. (AP Photo/J. Scott Applewhite)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.


Posted on 22 February 2012 | 4:42 pm

Home resales at 1-1/2 year-high, supply falls (Reuters)

A labourer selects wooden planks as he works at a residential construction site in Hefei, Anhui province February 18, 2012. China's home prices fell in January from December, marking the fourth monthly fall in a row and showing that the policy-driven property market downturn is deepening, which will add to worries about a hard landing in the world's second-largest economy. REUTERS/Stringer (CHINA - Tags: BUSINESS REAL ESTATE CONSTRUCTION EMPLOYMENT)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.


Posted on 22 February 2012 | 4:27 pm

HP says 1Q earnings down 44 pct, beats Street (AP)

Former Hewlett Packard CEO Carly Fiorina, a board member of the American Conservative Union and vice chair of the National Republican Senatorial Committee, addresses the American Conservative Union's annual Conservative Political Action Conference (CPAC) in Washington, February 10, 2012. REUTERS/Jim Bourg (UNITED STATES - Tags: POLITICS BUSINESS)AP - Hewlett-Packard says its net income fell 44 percent in the most recent quarter as revenue dipped in the midst of an attempted turnaround under new leadership.


Posted on 22 February 2012 | 4:26 pm

States may tap mortgage money to fill budget gaps (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.

Posted on 22 February 2012 | 4:23 pm

Wall St closes lower on banks (Reuters)

Traders work on the floor of the New York Stock Exchange February 21, 2012. REUTERS/Brendan McDermidReuters - 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.


Posted on 22 February 2012 | 4:06 pm

How gasoline demand is faring (AP)

AP - U.S. motorists have bought less gasoline every week for the past 48 weeks, according to a survey published Wednesday by MasterCard SpendingPulse. At the same time, prices have risen. Those trends should continue, say industry analysts.

Posted on 22 February 2012 | 4:04 pm

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

Posted on 22 February 2012 | 3:15 pm

Romney proposes 28 percent top income tax rate (Reuters)

Reuters - Republican Mitt Romney, looking for a boost in his presidential campaign, proposed an overhaul of the tax system on Wednesday that he said would cut Americans' tax rates by 20 percent and limit deductions for the wealthy.

Posted on 22 February 2012 | 2:23 pm

GM in alliance talks with Peugeot in Europe (AP)

AP - General Motors Co. is in talks about a possible alliance with France's leading car maker PSA Peugeot Citroen, a deal that could dwarf PSA's partnerships with BMW, Mitsubishi Motors and Toyota.

Posted on 22 February 2012 | 2:14 pm

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.

Posted on 22 February 2012 | 11:39 am