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Todays Top Business News
From around the world and across the street.
•Oil hovers below $93 after sharp 2-week sell-off
by By ALEX KENNEDY
13 minutes ago SINGAPORE (AP) -- Oil prices hovered below $93 a barrel Friday in Asia, pausing after the latest twists in Europe's debt crisis triggered a sharp two-week selloff....
[From AP Top Business News At 1:16 a.m. EDT]
•Japan launches rocket with first foreign satellite
48 minutes ago TOKYO (AP) -- A rocket has lifted off in Japan in the country's first commercial launch of a foreign satellite - one from South Korea designed to monitor the environment....
[From AP Top Business News At 1:16 a.m. EDT]
•Investors brace for Facebook debut on Wall Street
55 minutes ago (Reuters) - Investors are bracing for Facebook's Wall Street debut on Friday after the world's No.1 online social network raised about $16 billion in one of the biggest initial public offerings in U.S. history.
[From Reuters: Business News]
•MF Global clients bash fat fees, seek quick wind-down
1 hour ago (Reuters) - The legal team winding down MF Global's bankruptcy estate, led by former FBI director Louis Freeh, estimates the fees charged by the team and other professionals have reached nearly $25 million since the bankruptcy was filed in October.
[From Reuters: Business News]
•Questions and answers on blockbuster Facebook IPO
by By BERNARD CONDON
1 hour ago NEW YORK (AP) -- A company started in a Harvard dorm room in 2004 has just raised $16 billion and is valued at $104 billion. All that from an initial public offering of stock....
[From AP Top Business News At 1:16 a.m. EDT]
•Facebook's IPO one of world's largest
by By BARBARA ORTUTAY
1 hour ago NEW YORK (AP) -- Facebook is about to find out just how much status updates, puppy photos and billions of "likes" are worth on Wall Street....
[From AP Top Business News At 1:16 a.m. EDT]
•Analysis: JPMorgan CEO gets crisis marks but war isn't over
1 hour ago NEW YORK (Reuters) - Shooting from the hip may have got Jamie Dimon into deep trouble -- shooting straight may help to get him out of it.
[From Reuters: Business News]
•Global leaders seek to corral Europe crisis
by By CHRISTOPHER S. RUGABER and DAVID McHUGH
1 hour ago WASHINGTON (AP) -- The leaders of eight of the world's biggest economies meet this weekend outside Washington, seeking to keep Europe's debt crisis from spiraling out of control and jeopardizing fledgling recoveries in the U.S. and elsewhere....
[From AP Top Business News At 1:16 a.m. EDT]
•Pepsi drops sponsorship of horse show after video of animal abuse
1 hour ago NASHVILLE, Tennessee (Reuters) - Soft drink maker Pepsi said on Thursday that it was dropping sponsorship of a prestigious national horse show, one day after ABC News broadcast footage of a horse in training for a show being beaten by a trainer.
[From Reuters: Business News]
•Asia stock markets sink on US, Europe worries
by By PAMELA SAMPSON
2 hours ago BANGKOK (AP) -- Asian stocks dived Friday after discouraging U.S. economic reports unnerved investors already worried about the stability of the 17-country euro currency union....
[From AP Top Business News At 1:16 a.m. EDT]
•China second quarter GDP growth seen at 7.5 percent: government think-tank
2 hours ago BEIJING (Reuters) - China's annual economic growth could slow to 7.5 percent in the second quarter, largely due to curbs on the property sector and headwinds from external demand, the State Information Center, a government think-tank, said in a report published on Friday.
[From Reuters: Business News]
•GM ad move followed failed Facebook pitch: sources
3 hours ago DETROIT/NEW YORK (Reuters) - Facebook may only have itself to blame for why General Motors rained on its IPO parade this week.
[From Reuters: Business News]
•Buffett tried to buy ResCap before bankruptcy: report
3 hours ago (Reuters) - Billionaire investor Warren Buffett sought to buy Residential Capital (ResCap) from Ally Financial before the U.S. auto and mortgage lender put its home-lending unit into bankruptcy, Bloomberg said, citing three persons familiar with the matter.
[From Reuters: Business News]
•Wal-Mart's 1Q profit up 10.1 percent
by By ANNE D'INNOCENZIO
5 hours ago NEW YORK (AP) -- Wal-Mart may have gotten its groove back, but an alleged bribery scheme threatens to curtail its progress....
[From AP Top Business News At 1:16 a.m. EDT]
•Nervous investors send S&P lower for fifth day
5 hours ago NEW YORK (Reuters) - Stocks hit a four-month low on Thursday as rising Spanish bond yields increased investor anxiety over that country's banks and another round of weak data undermined hopes for U.S. economic recovery.
[From Reuters: Business News]
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