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Thursday, August 26, 2010 12:00 AM PDT

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Today's Business News: Stocks stage comeback as technicals spur buying BHP prepares to woo Potash owners after rich result Japan government econ plan to call for BOJ easing: report India holds crucial meeting on BlackBerry security July new home sales sag as durables orders soft FTSE falls amid recovery doubts California delays $3 bln for local governments Diageo full-year profit up 1.5 pct German government adopts plans for bank levy German economy boosts consumer confidence: GfK German business sentiment at three-year high Wal-Mart Stores appeals sex discrimination case KBW mortgage index adds Radian, cuts NewAlliance Oil rises to near $73 amid stronger stock markets NY Oneidas move cigarette plant to avoid taxes Mazda, Ford to invest $350 million in Thai plant Tax Reform: These Small Steps Could Help Deficit, Economy Stocks stage comeback as technicals spur buying Wed, 25 Aug 2010 02:14 pm PDT Reuters - U.S. stocks staged a comeback on Wednesday, breaking a four-day losing streak by major indexes, as key technical support triggered bargain hunting that offset weak economic data. Full Story Top BHP prepares to woo Potash owners after rich result Wed, 25 Aug 2010 10:45 pm PDT Reuters - BHP Billiton's chief executive flies to North America this week to crank up the charm offensive with Potash Corp shareholders after dousing expectations he would sweeten a $39 billion bid for the fertilizer giant. Full Story Top Japan government econ plan to call for BOJ easing: report Wed, 25 Aug 2010 10:46 pm PDT Reuters - Japan's government will urge the Bank of Japan to ease monetary policy further as part of a package of steps to stem the yen's rise and support the fragile economy, the Asahi newspaper said, ratcheting up pressure on the central bank to take action before a policy meeting next month. Full Story Top India holds crucial meeting on BlackBerry security Wed, 25 Aug 2010 11:47 pm PDT Reuters - The fate of BlackBerry's encrypted email and messaging services in India will be decided in last-ditch talks starting on Thursday between the smart phone's maker and security agencies ahead of an August 31 deadline. Full Story Top July new home sales sag as durables orders soft Wed, 25 Aug 2010 03:46 pm PDT Reuters - New home sales slumped to the slowest pace on record in July and orders for costly durable goods were weak, heightening fears the economy was at risk of another downturn. Full Story Top FTSE falls amid recovery doubts Wed, 25 Aug 2010 06:37 am PDT AFP - Leading London shares fell again on Wednesday after a slump in Tokyo and on Wall Street largely caused by a weak economic recovery which has offset strong earnings news, traders said. Full Story Top California delays $3 bln for local governments Wed, 25 Aug 2010 01:28 pm PDT Reuters - Local governments in California are scrambling to respond to the state government's decision to delay nearly $3 billion in funds for them, with some tapping reserves to keep programs fully funded. Full Story Top Diageo full-year profit up 1.5 pct Wed, 25 Aug 2010 11:56 pm PDT AP - Diageo PLC, the world's biggest spirits maker, says its profit for the full year rose 1.5 percent as it rebounded from a weak first half. Full Story Top German government adopts plans for bank levy Wed, 25 Aug 2010 09:38 am PDT AP - Germany's government on Wednesday adopted an overhaul of the financial system that proposes an orderly way to restructure ailing banks and requires all banks to contribute to a bailout fund to ward off future crises. Full Story Top German economy boosts consumer confidence: GfK Wed, 25 Aug 2010 11:47 pm PDT AFP - Better than expected economic growth has boosted consumer sentiment in Germany, and the GfK research institute reported Thursday significant increases in expectations for the economy in general and personal income in particular. Full Story Top German business sentiment at three-year high Wed, 25 Aug 2010 11:26 am PDT AFP - German business sentiment has rebounded to levels seen before the 2007 financial crisis, the Ifo economic institute said Wednesday in the latest sign of strength from Europe's biggest economy. Full Story Top Wal-Mart Stores appeals sex discrimination case Wed, 25 Aug 2010 03:36 pm PDT Reuters - The world's largest retailer has asked the Supreme Court to halt a mammoth sex-discrimination case brought by its women workers, according to a Wednesday court filing. Full Story Top KBW mortgage index adds Radian, cuts NewAlliance Wed, 25 Aug 2010 04:24 pm PDT AP - Keefe, Bruyette & Woods Inc. on Wednesday said it will make changes to its banking and mortgage finance indexes on Monday. Full Story Top Oil rises to near $73 amid stronger stock markets Wed, 25 Aug 2010 10:51 pm PDT AP - Oil prices extended gains to near $73 a barrel Thursday in Asia as regional stock markets rose and recent sharp losses in crude drew more buyers. Full Story Top NY Oneidas move cigarette plant to avoid taxes Wed, 25 Aug 2010 01:44 pm PDT Reuters - New York's Oneida Indian Nation moved a cigarette-manufacturing plant to their upstate reservation to shield smokers from steep taxes that Governor David Paterson has vowed to impose. Full Story Top Mazda, Ford to invest $350 million in Thai plant Wed, 25 Aug 2010 10:53 pm PDT AP - Ford Motor Co. and Mazda Motor Corp. are investing $350 million in their joint venture plant in Thailand to revamp production of pickup trucks, both sides said Thursday. Full Story Top Tax Reform: These Small Steps Could Help Deficit, Economy Tue, 24 Aug 2010 05:08 am PDT BusinessWeek - Is the American system of taxation nearing a watershed moment? It doesn't seem like it, considering the political brawl in Washington over the soon-to-be-expired 2001 and 2003 tax cuts passed during the Bush era. Lawmakers have known for the past several years that, if they did nothing, the tax breaks would automatically end on Dec. 31, 2010. Now, Washington is scrambling as the deadline looms and the economy sputters. Full Story Top

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