Wall Street Slips Amid Mixed Housing Data
The markets fell on Wednesday as traders digested mixed data on the U.S. housing market and awaited another round of testimony from Federal Reserve Chairman Ben Bernanke.
Brazil Local Content Policy Inhibits Oil Development
Local content laws slowing petroleum production -analysts -Policy risks protecting inefficient companies -economist -Government aims to help domestic suppliers improve, meet demand RIO DE JANEIRO--Brazil's government is betting that laws requiring oil companies to purchase goods and services
Grim Data Point To Deeper Spanish Crisis
Spain's housing and banking sectors continue to deteriorate, grim new government data showed Wednesday, suggesting the country's economy remains caught in a protracted recession.
Rovi Corp. Plummets 30% After Downgrades
Shares of Rovi Corp. plunged more than 30% on Wednesday after a slew of analysts downgraded the digital entertainment provider for preannouncing second quarter results that fell far short of expectations.
IMF: Room For ECB To Act; Crisis At Critical Stage
The International Monetary Fund on Wednesday said the European Central Bank must continue to play a crucial role in addressing a euro-zone debt crisis that has reached a "critical stage." At the conclusion of the IMF's annual review of the region's economy, IMF directors urged European officials to