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Sunday, February 27, 2011 12:01 AM PST

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Today's Business News: Possible pullback, high oil raise risks With $38 billion cash, Warren Buffett looking for deals Toys R Us mulls $800 million IPO for April: report China's Wen puts social stability at heart of economy BofA, Wells, Citi see foreclosure probe fines Republicans question top SEC attorney on Madoff ties Regulators close small Ill. bank; makes 23 in 2011 Berkshire Hathaway's 4Q net income up 43 percent Ireland's PM-elect sees compromise on bailout rate Court OKs $624M payout to Countrywide investors Crisis-hit Irish PM concedes election wipeout Best Buy, Home Depot find tough times in China Big banks: Foreclosure probes carry financial risk Turmoil rocks Libya's oil sector, slashing output State budget crisis looms over governors meeting High Gas Prices Prompt a Renewed Interest in Solar-Powered Cars Europeans Opting for MBAs Closer to Home Possible pullback, high oil raise risks Sat, 26 Feb 2011 11:14 am PST Reuters - On Wall Street they wonder: Was that it? Is the pullback over? Full Story Top With $38 billion cash, Warren Buffett looking for deals Sat, 26 Feb 2011 12:45 pm PST Reuters - Warren Buffett is looking for acquisitions as an outlet to deploy his $38 billion cash pile, the legendary investor said in his annual letter to Berkshire Hathaway Inc shareholders on Saturday. Full Story Top Toys R Us mulls $800 million IPO for April: report Sat, 26 Feb 2011 10:14 am PST Reuters - Toys R Us Inc (TOY.UL) is looking to raise around $800 million in an initial public offering in April, though a final decision has not been reached, the New York Post said on Saturday. Full Story Top China's Wen puts social stability at heart of economy Sat, 26 Feb 2011 08:49 pm PST Reuters - Fighting inflation is a priority for the government in China where rapid price rises and pressure to sharply raise the value of the yuan are a threat to social stability, Premier Wen Jiabao said on Sunday. Full Story Top BofA, Wells, Citi see foreclosure probe fines Fri, 25 Feb 2011 06:20 pm PST Reuters - Bank of America, Citigroup and Wells Fargo -- three of the biggest banks in the United States -- said they could face fines from a regulatory probe into the industry's foreclosure practices. Full Story Top Republicans question top SEC attorney on Madoff ties Fri, 25 Feb 2011 07:10 am PST Reuters - Several key House Republicans are raising questions of ethics about the top attorney at the Securities and Exchange Commission amid allegations that his family's estate received $1.5 million in phony profits from Bernard Madoff's Ponzi scheme. Full Story Top Regulators close small Ill. bank; makes 23 in 2011 Fri, 25 Feb 2011 03:57 pm PST AP - Regulators on Friday shut down a small bank in Illinois, raising to 23 the number of U.S. bank failures this year after the limping economy and mounting soured loans felled 157 banks in 2010. Full Story Top Berkshire Hathaway's 4Q net income up 43 percent Sat, 26 Feb 2011 10:21 am PST AP - Warren Buffett's Berkshire Hathaway reported a 43 percent jump in fourth-quarter earnings Saturday largely because of strong performance at its railroad business and a paper gain of $1.4 billion on the company's derivative contracts and investments. Full Story Top Ireland's PM-elect sees compromise on bailout rate Sat, 26 Feb 2011 03:09 pm PST Reuters - Ireland's prime minister in waiting Enda Kenny on Saturday said he believed the European Union and International Monetary Fund might compromise on the interest rate charged on an 85 billion euro bailout. Full Story Top Court OKs $624M payout to Countrywide investors Fri, 25 Feb 2011 05:57 pm PST AP - A federal judge on Friday approved a $624 million settlement in a lawsuit brought by several New York public pension funds against fallen mortgage giant Countrywide Financial Corp. Full Story Top Crisis-hit Irish PM concedes election wipeout Sat, 26 Feb 2011 01:16 pm PST AFP - Irish Prime Minister Brian Cowen conceded defeat Saturday in the general election, after his ruling Fianna Fail party was crushed by voters angry over the collapse of the economy and an EU-IMF bailout. Full Story Top Best Buy, Home Depot find tough times in China Fri, 25 Feb 2011 04:02 am PST AP - Home Depot is no longer open for home improvements in Beijing. Best Buy Inc. decided its brand name electronics stores were not best for China. Full Story Top Big banks: Foreclosure probes carry financial risk Sat, 26 Feb 2011 01:37 pm PST AP - Probes by state attorneys general and other government agencies into banks' foreclosure practices carry the risk of fines and other major costs. That's from regulatory filings filed by three of the country's biggest banks. Full Story Top Turmoil rocks Libya's oil sector, slashing output Sat, 26 Feb 2011 05:05 pm PST AP - The massive oil terminal at Brega feels strangely deserted for Libya's second-largest hydrocarbon complex. After more than a week of turmoil in the country, production has been scaled back by almost 90 percent with many employees fleeing and ships not coming to collect its products. Full Story Top State budget crisis looms over governors meeting Fri, 25 Feb 2011 06:05 pm PST AP - Confronting crushing budget woes, many of the nation's governors are calling for painful spending cuts. But beyond that, their approaches are diverging drastically, from union-cramping proposals in Wisconsin and other states to higher taxes in Illinois and elsewhere. Full Story Top High Gas Prices Prompt a Renewed Interest in Solar-Powered Cars Sat, 26 Feb 2011 12:57 pm PST ContributorNetwork - Solar-powered cars may be appearing at a dealership near you in the not so distant future. The vehicles run on the sun's energy and have demonstrated at races held annually in Australia. Reducing America's dependence upon foreign oil and "green" fuel initiatives have prompted renewed interest in the viability of solar powered automobiles. Plug-in electric vehicles coming off the assembly lines can now be powered via solar panels attached to car's roof and the owner's homes. Full Story Top Europeans Opting for MBAs Closer to Home Fri, 25 Feb 2011 05:08 am PST BusinessWeek - Scottish business school student Steven Renwick used to harbor what he called a "vague aspiration" to get his MBA from an American institution such as the Stanford Graduate School of Business. Then he took a closer look at the price tag. The cost of a two-year degree at a top U.S. business school would easily set him back more than $150,000, an investment of time and money he was not comfortable making. Says Renwick: "It seemed like a massive opportunity cost." Full Story Top

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