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Wednesday, May 4, 2011 12:00 AM PDT

Today's Business News: Asia stocks, metals prices fall as risk reduced Portugal bailout agreed but political support needed Strong ad market drives Comcast and CBS results Glencore IPO price range values company at $60 billion AB InBev price hikes outweigh lower volumes in Q1 European stocks slip after bin Laden killing Business events scheduled for Wednesday StanChart cut staff in Q1 as cost pressures remain Britain pushes for Japan UN security seat after meeting Feds sue Deutsche Bank, alleging mortgage fraud Australia's Rudd: Bring China into system BNP beats Q1 forecasts on European retail Moody's cuts BofA mortgage servicing ratings Oil drops below $111 after US crude supply jump Pfizer 1Q net up 10 percent on lower costs, taxes Detroit automakers post solid April sales gains MBAs Aim to Reinvent Management Asia stocks, metals prices fall as risk reduced Tue, 3 May 2011 11:23 pm PDT Reuters - Asian shares fell on Wednesday, led by Chinese markets, with soft commodity prices making investors nervous a broader pullback in risk taking may be unfolding. Full Story Top Portugal bailout agreed but political support needed Tue, 3 May 2011 06:31 pm PDT Reuters - Portugal reached a deal with the European Union and the IMF Tuesday on a 78 billion euro 3-year bailout, the third euro zone member to do so after Greece and Ireland, caretaker Prime Minister Jose Socrates said. Full Story Top Strong ad market drives Comcast and CBS results Tue, 3 May 2011 05:26 pm PDT Reuters - Comcast Corp and CBS Corp showed the TV business is even stronger than billed, reporting earnings that surpassed most forecasts and setting the stage for healthy price increases in the next round of ad sales. Full Story Top Glencore IPO price range values company at $60 billion Tue, 3 May 2011 11:13 pm PDT Reuters - Commodities trading house Glencore has priced its long-awaited public offering at between 480 and 580 pence per share, valuing the company at $60 billion at the mid-point of the price range. Full Story Top AB InBev price hikes outweigh lower volumes in Q1 Tue, 3 May 2011 10:50 pm PDT Reuters - Anheuser-Busch InBev, the world's largest brewer, increased revenue and profit in the first quarter as price hikes more than offset lower volumes caused by U.S. unemployment and flooding in Brazil. Full Story Top European stocks slip after bin Laden killing Tue, 3 May 2011 04:12 am PDT AFP - Europe's main stock markets slid on Tuesday, as London traders returned from a four-day holiday weekend and euphoria faded over the killing of al-Qaeda leader Osama bin Laden, analysts said. Full Story Top Business events scheduled for Wednesday Tue, 3 May 2011 10:17 am PDT AP - Major business and economic events scheduled for Wednesday: Full Story Top StanChart cut staff in Q1 as cost pressures remain Tue, 3 May 2011 11:28 pm PDT Reuters - Standard Chartered (STAN.L) said it has had an excellent start to the year as key Asian markets lifted income by over 10 percent, although costs rose at a faster rate after a hiring spree last year. Full Story Top Britain pushes for Japan UN security seat after meeting Tue, 3 May 2011 03:05 pm PDT AFP - Britain on Tuesday backed Japan's claim for a permanent seat on the UN Security Council and promised to support its economic integration with the EU after the two nations' foreign ministers met in London. Full Story Top Feds sue Deutsche Bank, alleging mortgage fraud Tue, 3 May 2011 09:42 pm PDT AP - The federal government sued Deutsche Bank Tuesday, saying the bank committed fraud and padded its pockets with undeserved income as it repeatedly lied so it could benefit from a government program that insured mortgages. Full Story Top Australia's Rudd: Bring China into system Tue, 3 May 2011 07:02 pm PDT AFP - Australian Foreign Minister Kevin Rudd has pressed for a global effort to bring China into institutions, saying that the future of the world economy depended on it. Full Story Top BNP beats Q1 forecasts on European retail Tue, 3 May 2011 10:41 pm PDT Reuters - France's biggest listed bank, BNP Paribas (BNPP.PA), posted higher-than-forecast revenue and earnings for the first quarter on Wednesday, driven by strong retail growth and resilient investment banking. Full Story Top Moody's cuts BofA mortgage servicing ratings Tue, 3 May 2011 03:33 pm PDT Reuters - Bank of America Corp's (BAC.N) mortgage servicer quality ratings were downgraded by Moody's (MCO.N) on Tuesday, because of a deterioration in the company's collections and loss mitigation on home loans. Full Story Top Oil drops below $111 after US crude supply jump Tue, 3 May 2011 09:03 pm PDT AP - Oil prices fell to below $111 a barrel Wednesday in Asia as a report showed U.S. crude supplies rose more than expected last week, suggesting demand growth could be waning. Full Story Top Pfizer 1Q net up 10 percent on lower costs, taxes Tue, 3 May 2011 04:18 pm PDT AP - Pfizer Inc. reported flat first-quarter sales and shaved its revenue forecasts Tuesday as generic competition eats away at key drugs and pressure builds for the drugmaker to sell or spin off parts of the company. Full Story Top Detroit automakers post solid April sales gains Tue, 3 May 2011 03:26 pm PDT Reuters - GM, Ford and Chrysler showed much faster sales growth rates in April than Toyota and most other Japanese brands, in a sign that supply disruptions as a result of Japan's March 11 earthquake are hitting Japanese manufacturers hardest. Full Story Top MBAs Aim to Reinvent Management Tue, 3 May 2011 05:08 am PDT BusinessWeek - Free pizza has a way of motivating people. Armed with this knowledge, technology companies have supersized brainstorming sessions by creating "hackathons," intense events in which employees are divided into teams to focus on generating ideas and turning them quickly into prototypes, all while chowing down on pizza. The goal: to unearth the creativity lying dormant in employees, who might have felt stifled in traditional companies. Full Story Top

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