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Yahoo! News: Business News
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) $\"Traders$ AP - Stocks surged Tuesday on hope that the European Union will help Greece manage its growing debt burden.
SAS to raise cash, cut 700 jobs after Q4 loss (AP) AP - SAS stocks nosedived Tuesday after the Scandinavian airline group posted a fourth-quarter loss and asked shareholders for 5 billion kronor ($670 million) to help repair its ailing finances.
India halts genetically modified eggplant release (AP) $\"People$ AP - India halted the release of the world\'s first genetically modified eggplant Tuesday, saying further study needed to be done to guarantee consumer safety before it could be cultivated in the country.
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.
Europe searches for way out of debt crisis (AP) $\"A$ AP - The euro is under siege — and the next few days will be crucial.
Lower taxes, charges boost Nasdaq OMX profit (AP) $\"FILE$ 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) $\"Supporters$ 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.
Energy Conversion Devices posts fiscal 2Q loss (AP) AP - Solar panel product maker Energy Conversion Devices Inc. said Tuesday it posted a loss in the fiscal 2010 second quarter, hurt by a number of one-time costs, including those related to company layoffs.
Greece vows pension, wage reform as strike looms (AP) $\"People$ AP - Greek officials pledged Tuesday to increase the retirement age, raise fuel taxes and accelerate reforms, trying to calm financial markets a day before a nationwide strike against the government\'s new austerity measures.
Forget the Mortgage, I\'m Paying My Credit Card Bill (U.S. News & World Report) U.S. News & World Report - Amid high unemployment and sliding home prices, a growing number of struggling consumers are doing what was once considered unthinkable: paying their credit card bills instead of their mortgages. A recent study developed by TransUnion found the percentage of Americans who were current on their credit cards but behind on their mortgage increased to 6.6 percent in the third quarter of 2009, up from 4.3 percent in the first quarter of 2008. Meanwhile, the share of consumers making mortgage payments on time but behind on their credit cards moved in the opposite direction, sliding from 4. ...
IMF, Serbia discuss access to loan (AP) AP - An International Monetary Fund delegation opened talks with Serbia Tuesday to review whether the crisis-stricken country is adhering to the terms of a euro2.9 billion ($3.97 billion) standby loan.
Limited Brands sets dividend of 15 cents per share (AP) AP - Clothing retailer Limited Brands Inc. says it will pay a quarterly dividend of 15 cents per share.
Health Care: Rx for MBA Job Blues (BusinessWeek) BusinessWeek - For two years, MBAs have suffered mightily, as the credit crisis, recession, and bursting of the housing bubble have wreaked havoc on the job market. One by one, starting with investment banking, whole industries have erected \"MBAs Need Not Apply\" signs. One big exception is health care. With the prospect of health-care reform on the horizon, many MBAs are suddenly showing an interest in an industry that until now has attracted only a smattering of business school graduates, and with good reason. ...
Oil rises above $72 on weaker dollar, buying (Reuters) $\"A$ Reuters - Oil rose above $72 a barrel on Tuesday due to a weaker U.S. dollar and robust buying interest as investors looked for bargains following last week\'s price slide to near two-month lows.
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