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Wednesday, March 2, 2011 12:00 AM PST

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Today's Business News: Global stocks tumble as oil rises on Mideast worries Yahoo in talks on $8 billion Japan exit: sources Apple set to unveil new iPad, with or without Jobs February auto sales jump 27 percent, top expectations Bombardier in $6.7 billion deal to sell 120 planes to NetJets SGX CEO says no more concessions on $7.7 billion ASX bid San Francisco Fed picks Williams to succeed Yellen Nielsen beats in first report European recovery boosted by US tax cuts deal AIG to sell MetLife stock earlier than planned SEC charges ex-Goldman director Rajat Gupta in insider case February retail sales rise in most categories HSBC halts US foreclosures over paperwork errors Oil rises above $100 after surprise US supply drop Wis. governor proposes deep cuts for schools February's 10 top-selling vehicles in US MBA Journal: B-School on a Caffeine High Global stocks tumble as oil rises on Mideast worries Tue, 1 Mar 2011 11:19 pm PST Reuters - Oil rose toward a 2-1/2 year high and stocks fell on Wednesday as investors shunned risky assets on concern that escalating tension in Libya would spread in the Middle East and disrupt fuel supplies. Full Story Top Yahoo in talks on $8 billion Japan exit: sources Tue, 1 Mar 2011 11:04 pm PST Reuters - Yahoo Inc is in advanced talks to leave its Japanese joint venture in an effort to sort out its dysfunctional Asian partnerships and free up as much as $8 billion to fight Google and Facebook. Full Story Top Apple set to unveil new iPad, with or without Jobs Tue, 1 Mar 2011 10:36 pm PST Reuters - More than a year after igniting the tablet computing craze, Apple Inc prepares to unveil the second version of its blockbuster iPad on Wednesday -- possibly minus lead showman Steve Jobs. Full Story Top February auto sales jump 27 percent, top expectations Tue, 1 Mar 2011 09:14 pm PST Reuters - U.S. auto sales surged by 27 percent in February, exceeding the most bullish analyst forecasts as the lure of discounts from automakers led by General Motors Co outweighed concerns about higher oil prices for car shoppers. Full Story Top Bombardier in $6.7 billion deal to sell 120 planes to NetJets Tue, 1 Mar 2011 10:54 pm PST Reuters - Bombardier Inc has agreed to sell as many as 120 aircraft to Warren Buffett's NetJets Inc in a deal that could earn it more than $6.7 billion. Full Story Top SGX CEO says no more concessions on $7.7 billion ASX bid Tue, 1 Mar 2011 04:32 am PST Reuters - The head of the Singapore Exchange Ltd (SGXL.SI) drew a line under his $7.7 billion bid for Australian bourse operator ASX Ltd (ASX.AX), saying on Tuesday he did not plan any further concessions to win approval for the deal. Full Story Top San Francisco Fed picks Williams to succeed Yellen Tue, 1 Mar 2011 12:20 pm PST Reuters - John Williams, the San Francisco Federal Reserve Bank's head researcher whose work suggests the Fed's bond-buying has helped restore millions of jobs, will succeed Janet Yellen to lead the regional Fed bank. Full Story Top Nielsen beats in first report Tue, 1 Mar 2011 03:30 pm PST Investor's Business Daily - The dominant TV ratings company said Q4 earnings rose to 28 cents a share, topping analyst views by 21 cents. Sales rose 5.7% to $1.37 bil, above estimates. It's the first quarterly report for Nielsen (NYSE:NLSN - News) since its Feb. IPO, which raised $1.6 bil. For 2011, it expects revenue to grow 5%-7%. Shares rose 2%. Full Story Top European recovery boosted by US tax cuts deal Tue, 1 Mar 2011 04:43 am PST AP - The recently agreed tax cuts in the U.S. will help Europe's economic recovery pick up some steam this year despite rising energy costs and debt troubles in a number of countries that use the euro, the EU's executive said Tuesday. Full Story Top AIG to sell MetLife stock earlier than planned Tue, 1 Mar 2011 02:00 pm PST Reuters - American International Group Inc (AIG.N) will sell MetLife Inc (MET.N) shares it received in the 2010 sale of American Life Insurance Co to MetLife earlier than originally planned, the company said on Tuesday. Full Story Top SEC charges ex-Goldman director Rajat Gupta in insider case Tue, 1 Mar 2011 03:45 pm PST Reuters - Former Goldman Sachs Group Inc director Rajat Gupta leaked secret details to Galleon Group hedge fund manager Raj Rajaratnam about Warren Buffett's plan to invest $5 billion in the Wall Street bank at the height of the financial crisis, a U.S. securities regulator charged. Full Story Top February retail sales rise in most categories Tue, 1 Mar 2011 09:11 pm PST AP - Retail sales in February rose in categories ranging from clothing to furniture, despite winter storms and rising gas prices, according to data released Wednesday. Full Story Top HSBC halts US foreclosures over paperwork errors Tue, 1 Mar 2011 06:28 pm PST AP - HSBC Holdings PLC is suspending foreclosures in the U.S. after a government review of the lender's procedures revealed problems with the way it handled some home repossessions. Full Story Top Oil rises above $100 after surprise US supply drop Tue, 1 Mar 2011 09:17 pm PST AP - Oil prices rose above $100 a barrel Wednesday in Asia as a report showed U.S. crude and gasoline supplies unexpectedly dropped last week, suggesting demand may be improving. Full Story Top Wis. governor proposes deep cuts for schools Tue, 1 Mar 2011 05:55 pm PST AP - After focusing for weeks on his proposal to strip public employees of collective bargaining rights, Gov. Scott Walker on Tuesday presented his full budget — a plan that cuts $1 billion in aid to public schools and local government but avoids any tax or fee increases, furloughs or widespread layoffs. Full Story Top February's 10 top-selling vehicles in US Tue, 1 Mar 2011 06:59 pm PST AP - February's 10 top-selling vehicles in US Full Story Top MBA Journal: B-School on a Caffeine High Tue, 1 Mar 2011 05:08 am PST BusinessWeek - Greetings from Lausanne, Switzerland. After a few weeks of handling some administrative tasks, my wife and I are finally settled into our apartment, which is a 10-minute walk from the IMD Business School (IMD Full-Time MBA Profile) campus. Similar to any relocation, we had to acquaint ourselves with where we can buy groceries, get a haircut, and find the best fondue. The challenge with the international move was the entirely new set of rules and regulations that pertain to banking, renting, Internet access, and just being here. ... Full Story Top

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