Breaking News Headlines & Top Stories - Bloomberg

26 May ' 17:19

Treasuries End a Nine-Week Rally as Europe Seeks Debt-Crisis Resolution

Treasuries dropped, halting the longest rally since 1998, as European leaders sought a compromise to resolve the region’s debt crisis, crimping demand for U.S. government debt.

Rajaratnam Had P&G Board ‘Guy,’ Gupta Trial Witness Says

Asian Currencies Drop a Fourth Week as EU Crisis Hurts Exports

Wen Call for Growth, Not Loan Push, Echoed by Cabinet

U.S. Joins Condemnation of ‘Massacre’ of Syrian Civilians

Egypt Presidency Finalists Pledge Faith to Revolt

In Defense of the Faculty Lounge

Euler Hermes Says It’s Reviewing Greek Export Coverage

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26 May ' 11:23

Euler Hermes Says It May Reduce Trade Insurance for Shipments to Greece

Euler Hermes SA, a French-German trade-credit insurer, said it may reduce its coverage of exports to Greece because of the risk of the country exiting the euro. A decision is planned before the end of May.

Renesas Electronics Said to Plan Raising $1.3 Billion, Cutting 10,000 Jobs

Renesas Electronics Corp., the world’s biggest maker of automotive microcontrollers, plans to raise capital of 100 billion yen ($1.3 billion) and eliminate more than 10,000 jobs, according to the latest draft of a restructuring plan, a person briefed on the matter said.

Goldman Board Met Daily in Weeks Before Alleged Gupta TipUpdated 1 hour ago

Asian Stocks Fall for Fourth Week on China, Europe Debt Concerns

Reliance Communications Profit Beats Estimates on Phone UsageUpdated 2 hours ago

Greece Would Worsen Suffering by Breaking Aid Deal, Samaras Says

Syria ‘Massacre’ Needs International Response, U.K. SaysUpdated 1 hour ago

Facebook’s Saverin Left U.S. as a Taxpayer, Not a Traitor

Fugard’s ‘Children’ of Africa; Gray’s ‘Pursuit’: Review

Euro Declines Most in 2012 on Deepening Turmoil in Spain

Dallara Says Greek Euro Exit May Exceed 1 Trillion Euros

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26 May ' 04:51

Bankia Says It Needs $23.8 Billion of Spain Backing in Restructuring Plan

The Bankia group, the lender Spain nationalized this month, will seek 19 billion euros ($23.8 billion) of state funds, as it set aside provisions for residential mortgages and lending to companies.

Dallara Says Estimated Cost of Greece’s Exit Is $1.25 Trillion on Low Side

The cost of Greece exiting the euro would be unmanageable and probably exceed the 1 trillion euros ($1.25 trillion) previously estimated by the Institute of International Finance, the group’s managing director said.

Facebook IPO Fiasco Seen as Deepening Investors’ Distrust of Stock Market

Facebook Inc.’s initial public offering, plagued by trading errors and a 16 percent drop in the share price, will push more individual investors out of a stock market they already distrust after the financial crisis.

HSBC Cutting Suntech Sends ADR to 7-Month Low: China Overnight

New Jersey Woman Who Texted Found Not Liable for Friend’s Crash

Bubble in Austerity Shows Europe Is Ignoring 1997

European Stocks Post First Weekly Gain in May on Values

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25 May ' 21:58

Consumer Confidence in U.S. Rises to the Highest Level Since 2007: Economy

Consumer confidence rose in May to the highest level since October 2007 as Americans became more upbeat about the prospects for employment.

Euro Suffers Biggest Loss of Year on Concern About Spain, Greece Turmoil

The euro had its biggest weekly loss since December against the dollar as Greece’s anti-bailout party gained in the polls and amid a deepening crisis in Spain.

Vietnam Cuts Interest Rates a Third Time to Boost Economy as Growth Slows

Vietnam cut interest rates for the third straight month as policy makers stepped up efforts to bolster a struggling economy after inflation eased to the lowest since 2010.

Updated 54 minutes ago

Amylin Said to Draw First-Round Bids From Sanofi, MerckUpdated 53 minutes ago

Rajaratnam Had P&G Board ‘Guy,’ Gupta Trial Witness SaysUpdated 53 minutes ago

Updated 53 minutes ago

Singaporeans Vote in By-Election as Lee Seeks to Regain Support

Egypt Will Face Polarizing Presidential Runoff Vote in June

Facebook’s Saverin Left U.S. as a Taxpayer, Not a Traitor

Treasuries End Nine-Week Rally as Europe Seeks CompromiseUpdated 54 minutes ago

Asian Currencies Drop a Fourth Week as EU Crisis Hurts Exports

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25 May ' 15:34

12,454.80 -74.92 -0.60%

1,317.82 -2.86 -0.22%

2,837.53 -1.85 -0.07%

5,351.53 +1.48 0.03%

6,339.94 +24.05 0.38%

1,571.20 +0.73%

1.2517 -0.1227%

2,837.53 -0.07%

12,454.80 -0.60%

1,317.82 -0.22%

5,351.53 +0.03%

6,339.94 +0.38%

90.86 +0.22%

1.738% -0.039

7.15 +0.14%

Stocks in U.S. Slide as Treasuries Gain, Euro Retreats to a 22-Month Low

U.S. stocks retreated, trimming a weekly rally, while Treasuries rose and the euro traded at a 22- month low amid growing concern about Spain’s finances and plans to force some investors to take losses on debt holdings at failing European banks. Spanish and Italian bond yields rose.

Bankia Says It Needs $23.8 Billion of Spain Backing in Restructuring Plan

The Bankia group, a Spanish lender nationalized earlier this month, will seek 19 billion euros ($23.8 billion) of government funds as it provisions against real estate and non-property loans.

JPMorgan Prime Brokerage Head Lebedin Said to Be Replaced by Heitsenrether

Lou Lebedin, a former Bear Stearns Cos. executive who had become JPMorgan Chase & Co.’s global head of prime brokerage, is being replaced in that role, according to three people familiar with the situation.

Vietnam Cuts Rates a Third Time as Inflation Hits 21-Month Low

Dell Said Close to Buying Quest for Computer-ManagementUpdated 2 hours ago

VeriFone Drops on Growth, Cash Flow Concern: San Francisco Mover

Facebook IPO Seen Deepening Investor Distrust of Stocks

SpaceX Becomes First Company to Dock Ship at Space StationUpdated 3 hours ago

Obama Shunning China Yuan Manipulator Tag Gets Romney Ire

Egypt Faces ‘Polarizing’ Presidential Runoff as Vote Count EndsUpdated 29 minutes ago

Don’t Let Polio, Nearly Dead and Gone, Come Back to Life

Consumer Sentiment in U.S. Climbs to Highest Since 2007

Wen Call for Growth, Not Loan Push, Echoed by Cabinet

Icahn Buys Stake in Chesapeake, Seeks Board Replacements

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25 May ' 08:40

12,500.90 -28.83 -0.23%

1,321.78 +1.10 0.08%

2,836.21 -3.17 -0.11%

2,161.87 +5.35 0.25%

5,349.51 -0.54 -0.01%

6,341.85 +25.96 0.41%

8,580.39 +17.01 0.20%

722.11 -0.14 -0.02%

18,713.40 +47.01 0.25%

1,568.90 +0.58%

1.2510 -0.1809%

2,836.21 -0.11%

12,500.90

1,321.78 +0.08%

5,349.51 -0.01%

2,161.87 +0.25%

6,341.85 +0.41%

91.11 +0.50%

1.747% -0.031

7.20 +0.77%

31.91 -3.39%

Consumer Confidence in U.S. Climbs to the Highest Level Since October 2007

Consumer confidence rose in May to the highest level since October 2007 as prices at the gas pump became less of a drag on household budgets.

Treasuries Advance, Euro Weakens to 22-Month Low as U.S. Stocks Fluctuate

Treasuries rose and the euro traded at a 22-month low amid concern about Spain’s finances and plans that would force some investors to take losses on debt holdings at failing European banks. U.S. stocks fluctuated while Spanish and Italian bond yields rose.

Merkel Open to Debt-Sharing Compromise as Monti Sees Way to Persuade Her

Chancellor Angela Merkel left the door open to a compromise on debt sharing in the euro area as Italian Prime Minister Mario Monti said he can help bring Germany around to acting in Europe’s “common good.”

Yuan Seen Undervalued by U.S. as China Escapes LabelUpdated 12 minutes ago

German, French Consumers Resist Crisis Pressure: Economy

Tiffany Cuts Full-Year Profit Forecast

Egypt Islamist, Mubarak Aide Lead Vote Count for Presidency

FDA to Appeal Court Ruling Banning Drug Used in ExecutionUpdated 52 minutes ago

Christie Scales Back Road Bonding Cuts After Revenue Miss

Facebook’s Saverin Left U.S. as a Taxpayer, Not a Traitor

Deutsche Bank’s Fitschen Says Failed Greek State Lacks LeadersUpdated 1 hour ago

Unsecured Creditors Face Losses in EU Plan for Failing BanksUpdated 1 hour ago

Dell Said to Mull Buying Quest for Computer-Management ToolsUpdated 1 hour ago

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24 May ' 21:22

12,529.80 +33.60 0.27%

1,320.68 +1.82 0.14%

2,839.38 -10.74 -0.38%

2,156.52 +22.47 1.05%

5,350.05 +83.64 1.59%

6,315.89 +30.14 0.48%

8,569.37 +5.99 0.07%

720.46 -1.79 -0.25%

18,609.80 -56.55 -0.30%

1,555.50 -0.28%

1.2530 -0.0218%

2,839.38 -0.38%

12,529.80 +0.27%

1,320.68 +0.14%

5,350.05 +1.59%

2,156.52 +1.05%

6,315.89 +0.48%

90.45 -0.23%

1.767% -0.010

7.14 -0.42%

33.03 +3.22%

Chinese Banks May Miss 2012 Lending Target as Demand Slumps, Officials Say

China’s biggest banks may fall short of loan targets for the first time in at least seven years as an economic slowdown crimps demand for credit, three bank officials with knowledge of the matter said.

Asian Stocks Fall on Chinese Loan Demand Concerns; Metals, Aussie Decline

Asian stocks declined, heading for a fourth week of losses, as bank officials said China’s biggest lenders may fall short of loan targets for the first time in at least seven years. Commodities and the Australian dollar slid.

Frozen Europe Means ECB Must Resort to Emergency Liquidity Assistance Plan

The first rule of ELA is you don’t talk about ELA.

DBS-Danamon Takeover Seen Imperiled by Indonesia Ownership Rules: Real M&A

Southeast Asia’s largest banking takeover is turning into the emerging-market deal that traders bet is the most likely to unravel, as Indonesia considers restricting foreign ownership of its lenders.

SEC Staff Ends Probe of Lehman Without Finding FraudUpdated 50 minutes ago

Japan Consumer Prices Rise 0.2% as BOJ Target Stays DistantUpdated 2 hours ago

Cargill’s Former Head of Sugar Drake Joining RCMA in Singapore

Malaysian Airline Fits A380s With Widest Seats in the SkyUpdated 27 minutes ago

Monti Says Germany Can Be Persuaded on Euro Bonds

Egyptians Vote in Second Day of Landmark Presidency Race

Don’t Let Polio, Nearly Dead and Gone, Come Back to Life

JPMorgan Gave Risk Oversight to Museum Head Who Sat on AIG BoardUpdated 4 hours ago

Alibaba Cleared to Privatize Unit After Shareholders VoteUpdated 55 minutes ago

Balrampur Says Mills Losing Money on Controls: Corporate India

Subaru Made in Japan Defies Trend as Fuji Lifts Output

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24 May ' 02:16

2,138.90 +4.85 0.23%

5,296.17 +29.76 0.57%

6,289.42 +3.67 0.06%

8,563.38 +6.78 0.08%

722.25 +0.68 0.09%

18,666.40 -119.79 -0.64%

1,555.70 +0.47%

1.2562 -0.1582%

5,296.17 +0.57%

2,138.90 +0.23%

6,289.42 +0.06%

90.32 +0.47%

1.735% 0.000

Bund Yields Drop to Record Lows as Euro Weakens; U.S. Index Futures Fall

The euro and U.S. stock-index futures declined and German bond yields sank to records as manufacturing in Germany and China indicated Europe’s debt turmoil is curbing growth after leaders failed to agree on steps to contain the crisis. European shares swung between gains and losses.

Rajoy Calls on ECB to Take Action to Reverse Surge in Spanish Bond Yields

Spanish Prime Minister Mariano Rajoy called on the European Central Bank to act to bring down rising borrowing costs in some of the 17 euro countries.

Deutsche Telekom Says Complete Sale of T-Mobile USA Division Is Unlikely

Deutsche Telekom AG said a complete sale of its T-Mobile USA unit is unlikely after Europe’s second- largest telephone company failed to sell the business to AT&T Inc. last year for $39 billion.

Glaxo Avoiding Market for Lemons by Acquiring Collaborators It Knows Well

GlaxoSmithKline Plc may find its next acquisition target where the U.K. drugmaker found the last two: among more than a dozen companies it collaborates with to develop new treatments.

BMW Fined $163 Million by Swiss Competition RegulatorUpdated 36 minutes ago

Iran Nuclear Talks Struggle on Research Program Concerns

Facebook IPO Scrutiny Forcing It to Grow Up Inside Washington

Heywood Murder Thrusts Employer Hakluyt Into Limelight

How Super-PACs Will Keep the Campaign Clean

EU Chiefs Clash on Euro Bonds as Crisis Summit Bogs Down

Facebook IPO Debacle Triggers Legal Debate

MasterCard Loses EU Court Challenge Over Cross-Border Card Fees

BMW Quadrupling China Capacity Risks Audi-Like Dependence: Cars

Cooper Decade-High Bid Price Turns Hubbell into Target: Real M&A

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23 May ' 17:55

12,496.20 -6.66 -0.05%

1,318.86 +2.23 0.17%

2,850.12 +11.04 0.39%

2,134.05 -58.80 -2.68%

5,266.41 -136.87 -2.53%

6,285.75 -149.85 -2.33%

8,585.84 +29.24 0.34%

723.09 +1.52 0.21%

1,560.20 +0.76%

1.2570 -0.0990%

2,850.12 +0.39%

12,496.20 -0.05%

1,318.86 +0.17%

5,266.41 -2.53%

2,134.05 -2.68%

6,285.75 -2.33%

90.55 +0.72%

1.740% -0.029

7.17 +2.72%

FB:US 32.00 +3.23%

Euro Nears 22-Month Low as Merkel Tells Summit Germany Against Common Bond

The euro was 0.3 percent from the lowest since July 2010 after German Chancellor Angela Merkel said at a European Union summit that her nation stands by its opposition to jointly issued common bonds.

China Pledges Policies Favoring Growth as Europe’s Debt Crisis Escalates

China’s leaders pledged to intensify “fine-tuning” of policies in the second government statement in four days signaling a commitment to growth as domestic demand slows and Europe’s debt crisis escalates.

Hewlett-Packard Climbs on Plan to Cut 8% of Workforce, Quarterly Earnings

Hewlett-Packard Co. shares rose after the world’s largest personal-computer maker announced plans to slice its workforce by 27,000, or about 8 percent, and reported fiscal second-quarter sales and profit that topped estimates.

Morgan Stanley’s Gorman Said to Join Facebook Call on Setting IPO Pricing

As Facebook Inc. and Morgan Stanley executives gathered on a call May 17 to arrange terms for the social-networking company’s initial public offering, they faced a tradeoff: set the IPO price low and give up enough money to let investors profit from a day-one pop -- or push the price high to help the company reap as much as possible from the sale.

Morgan Stanley Cut Facebook Profit Estimate 5.9% Pre-IPOUpdated 3 hours ago

Hakluyt Firm That Hired Heywood in China Works in Stealth

Ballmer Says China Intellectual Rights Protection ‘Weak’

Halliburton Demand Spurs Vikas to Expand: Corporate India

Golf Membership Fees Signal Drop in Tokyo Land: Chart of the DayUpdated 3 hours ago

CapitaLand CEO Calls Shoebox Apartments Inhuman: Southeast Asia

Romney Widens Lead Over Obama Among Voters in Florida

Chinese Estates Chairman Charged With Bribery in Macau

Romney Works To Balance Bain With Demands of GeneralUpdated 1 hour ago

China’s New Leaders May Back More Reform, Huntsman SaysUpdated 1 hour ago

Why Both Obama and Romney Want to Talk About BainUpdated 1 hour ago

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23 May ' 06:43

12,417.20 -85.60 -0.68%

2,813.94 -25.14 -0.89%

2,151.42 -41.43 -1.89%

5,310.52 -92.76 -1.72%

6,342.56 -93.04 -1.45%

8,556.60 -172.69 -1.98%

721.57 -11.76 -1.60%

18,786.20 -252.96 -1.33%

1,559.60 -1.08%

1.2660 -0.1916%

2,813.94 -0.89%

12,417.20 -0.68%

5,310.52 -1.72%

2,151.42 -1.89%

6,342.56 -1.45%

91.29 -0.61%

1.733% -0.038

0.00%

0.00%

Banks in Europe Unprepared for Pandora’s Box Contagion of Greek Euro Exit

Europe’s banks, sitting on $1.19 trillion of debt to Spain, Portugal, Italy and Ireland, are facing a wave of losses if Greece abandons the euro.

Play Video

Stocks in U.S. Decline Amid Concern Greece May Have to Leave Euro Region

U.S. stocks declined, joining a global equity slump, amid concern that Greece may leave the euro as the region’s leaders meet in Brussels.

Facebook IPO Scrutiny Increases as Morgan Stanley Defends Handling of Sale

Facebook Inc.’s initial public offering is getting less friendly with each passing day.

German Borrowing Costs Drop to Record Low at Auction as Bids Exceed Target

Germany got bids for more than the maximum 5 billion-euro ($6.3 billion) target at a note sale, with the yield falling to a record, as investors sought a refuge from the European debt crisis.

Buffett’s Idiot Challenge Seized by Jain in Premium Hunt

JPMorgan Joins MF Global in Lobbying Wins That Backfire

Fortress Seeks Servicing Rights From $4 Trillion Sale: MortgagesUpdated 30 minutes ago

Bank Retreat on Shipping Seen Filled by Private Equity: Freight

Fiat to Develop Alfa Romeo Duetto Successor With MazdaUpdated 28 minutes ago

War-Gaming Greek Euro Exit Shows Hazards in 46-Hour Weekend

Iran Gets New Offer From Powers at Atomic Talks in IraqUpdated 37 minutes ago

Pakistan Doctor Who Aided Bin Laden Raid Jailed for 33 YearsUpdated 1 hour ago

How Dutch Dollhouse Mania Explains the U.S. Housing Bust

Gehry, Rodarte Team Up for Spooky Mozart in L.A.: Review

BOE’s ‘Finely Balanced’ Decision Keeps QE Options Open: Economy