Business News and Current Events

Wholesale inventories cut 0.8 percent in December (AP) AP - Businesses slashed wholesale inventories sharply in December, a much weaker showing than expected and a troubling sign that companies are still too pessimistic about the economy to begin restocking shelves on a sustained basis.

Stocks climb on hopes for Greece debt assistance (AP)

Traders Robert Maher, left, and Anthony Alvarino work on the floor of the New York Stock Exchange Tuesday, Feb. 9, 2010. (AP Photo/Richard Drew) AP - Stocks are surging on hope that the European Union will help Greece manage its growing debt burden.

Europe searches for way out of debt crisis (AP)

A man walks past a screen showing falling stocks at the Athens Stock Exchange, in red, in Greece on Monday, Feb. 8, 2010. Stocks traded mixed Monday as investors remained wary about the strength of the economic recovery and mounting debt in Europe. (AP Photo/Petros Giannakouris) AP - The euro is under siege — and the next few days will be crucial.

Toyota recalls 437,000 Priuses, hybrids globally (AP)

AP - Toyota is recalling 437,000 Prius and other hybrid vehicles worldwide to fix brake problems — the latest embarrassing safety lapse at the world's largest automaker.

UBS makes Q4 profit, but withdrawals continue (AP) AP - Swiss bank UBS AG posted a fourth-quarter profit of 1.205 billion Swiss francs ($1.12 billion) Tuesday, beating analysts' expectations partly thanks to a tax credit, but said earnings suffered from rich clients withdrawing more money.

Obama: GOP and Dems together can spur job growth (AP)

AP - President Barack Obama acknowledged the deep partisan divisions gripping Congress, but he urged Republican and Democratic leaders Tuesday to cooperate on legislation that creates jobs.

Lower taxes, charges boost Nasdaq OMX profit (AP)

FILE - In this Oct. 24, 2008 file photo, a man watches stock prices at the Nasdaq MarketSite in New York's Times Square. Nasdaq OMX Group Inc. said Monday, Feb. 8. 2010, its fourth-quarter profit rose 23 percent on lower impairment charges and taxes at the global exchange operator compared with a year ago.(AP Photo/Mark Lennihan, file) AP - Eroding market share and weaker trading volumes hurt Nasdaq OMX Group Inc.'s fourth-quarter revenue, but sharply lower taxes and fewer charges helped the global exchange operator report better-than-expected profit growth.

Church pews fill as Philippine poll campaign begins (Reuters)

Supporters of evangelist preacher and presidential candidate Eddie Villanueva unfurl a Philippine flag, measuring 180 m by 92 m, during the start of campaign period at Luneta park in Manila February 9, 2010. REUTERS/ Cheryl Ravelo Reuters - Philippine politicians launched their campaigns on Tuesday in a wide-open race for the presidency, with poverty, corruption and unemployment the top issues for the impoverished Southeast Asian archipelago.

Swiss bank UBS returns to profit, still struggles (AFP)

Oswald J. Gruebel, chief executive of Swiss Bank UBS, speaks during the annual press conference in Zurich on February 9. Troubled Swiss bank UBS said Tuesday it had jumped back into quarterly profit for the first time in more than a year even though it was still grappling with a damaging loss of client confidence.(AFP/Sebastian Derungs) AFP - Troubled Swiss bank UBS said Tuesday it had jumped back into quarterly profit for the first time in more than a year even though it was still grappling with a damaging loss of client confidence.

Greece vows pension, wage reform as strike looms (AP)

People look the exchange rates in a bank in central Athens on Tuesday, Feb. 9, 2010. Europe's currency union faces an unprecedented crisis as markets and the euro currency have tumbled in recent weeks — with the euro trading at an eight-month low against the U.S. dollar — on worries that Greece might need financial rescue to cope with its soaring debt and deficit. (AP Photo / Thanassis Stavrakis) AP - Greece took further steps Tuesday to calm global markets spooked by its debt crisis, pledging to increase retirement ages, accelerate reforms and reform its ineffective tax system, on the eve of the first nationwide strike against new austerity measures.

You can save this news page by submitting it to your favorite sites:

All News Lines - Local and World Wide, Updated Hourly

BUSINESS NEWS LINES