Diamond Ousts Top ExecutivesDiamond removed two top executives and said it would restate two years worth of financial results, after an internal probe found it had wrongly accounted for payments to walnut growers.
Greek Deal Remains ElusiveGreek political leaders have ended their meeting after seven-and-a-half hours without an agreement on austerity proposals.
UBS to Claw Back BonusesUBS notified employees it will take back part of the bonuses due to its best-paid investment bankers this year because of the trading scandal last year that put the unit into the red for 2011.
China's Inflation Rises Faster Than ExpectedChina's consumer price index rose 4.5% in January from a year earlier, faster than the 4.1% rise in December, data from the National Bureau of Statistics showed.
Yahoo: Less Show, More SellYahoo's new CEO Scott Thompson aims to turn around the Internet company at least in part by making it less dependent on its core online-ad business.
Foreign Deal on Tax DodgingThe Treasury Department and the governments of five European nations reached broad agreement Wednesday on a proposal to prevent U.S. taxpayers from dodging taxes through foreign accounts.
Blackstone Adds Cash to Oil PlayBlackstone Group is expected to announce that the firm and an energy company in which it invested raised $1 billion from commercial banks to develop south Texas oil fields.
Groupon's Growing PainsGroupon reported a surprise net loss for the fourth quarter. Shares fell more than 10% after hours.
China Inflation Dogs Asia MarketsMost Asian stock markets were lower as accelerating inflation in China eroded expectations of near-term stimulus from Beijing. Hong Kong's Hang Seng Index was down 0.5%.
News Corp. Profit RisesNews Corp. reported a 65% jump in second-quarter earnings, driven by continued growth at its filmed and cable network divisions.
Caesars Shares Surge on DebutShares of Caesars Entertainment zoomed higher on their first day of trading, up 70% in the afternoon.
Banks Lift StocksStocks drifted a smidgeon higher, as investors awaited an agreement among Greek politicians on reforms ahead of the country's second international bailout.
Cisco's Profit Up Amid RestructuringCisco reported a big jump in profit, its first such gain in a year, as the company's turnaround plan seems to be having positive effects.
CME Nears Deal to Sell CBOT SiteCME Group is close to a deal to sell most of the historic Chicago Board of Trade building for between $150 million and $180 million.
3M Picks Thulin to Be CEO3M's board named operating chief Inge Thulin to serve as the conglomerate's new chief executive, succeeding George Buckley and easing doubts over the company's plans for its corner office.
Southern Nears Reactor ApprovalsFederal regulators are expected to give Southern Co. the green light on Thursday to build two nuclear reactors in Georgia, the first approval of a new U.S. nuclear project in over three decades.
U.S. to Clear Google's DealThe U.S. Justice Department is poised to clear Google's $12.5 billion acquisition of Motorola Mobility Holdings Inc. as early as next week.
Chrysler, Banks Discuss Lending Joint VentureChrysler Group is in discussions with banks about establishing an in-house consumer and dealer auto-lending and loan operation through a joint-venture that would supplant some of the work now handled by Ally Financial.
Barneys Hires AdvisersBarneys New York Inc. has hired bankruptcy and restructuring counsel, as the swanky retailer grapples with debts coming due later this year.
Goldman Snags Old AIG BondsGoldman Sachs Group won a hotly contested auction for a large bundle of risky mortgage bonds from the 2008 bailout of American International Group, in a sale that was a victory for both the Wall Street firm and the Federal Reserve Bank of New York.
Visa Profit Rises as Card Use JumpsVisa posted a 16% increase in fiscal first-quarter profit as the credit-card processor continued to benefit from consumers' increased use of plastic.
Audit Watchdog Fines Ernst & Young $2 MillionErnst & Young agreed to pay $2 million to settle allegations by the government's auditing regulator that the firm wasn't skeptical enough in assessing how a client, Medicis Pharmaceutical, accounted for a reserve covering product returns.
MF Customers Protest 'Wrongful Act' InsuranceCustomers of MF Global say the failed brokerage shouldn't pay for a potential "wrongful act" legal defense of former Chief Executive Jon Corzine and others with money from MF Global's own insurance subsidiary.
Fed Postpones Capital One RulingThe Federal Reserve is delaying a planned meeting on Capital One's bid to buy ING Direct USA, rescheduling it to Monday.
McDonald's Sales JumpMcDonald's same-store sales rose a better-than-expected 6.7% in January on the popularity of its beverage lineup and new Chicken McBites.
China Pushes Yuan in Latin AmericaChinese policy banks are seeking to expand lending to commodities-rich countries in Latin America using the yuan instead of the dollar.
Japan Firms Weigh Chip VentureRenesas Electronics, Fujitsu and Panasonic are in talks to integrate some specialized chip operations in an effort to turn around their businesses and focus on more competitive chips.
Time Warner's Net Edges HigherTime Warner reported a slight increase in fourth-quarter earnings as the TV, movie and publishing company continued to benefit from its efforts to monetize content more effectively. The company also announced a $4 billion stock buyback and an 11% dividend increase.
Sprint's Loss WidensSprint Nextel posted a wider loss, though subscriber growth helped boost the wireless carrier's revenue.
One News Corp. Hack Case Set to Go to TrialNews Corp.'s U.K. tabloid-newspaper unit has settled 54 of the 60 civil phone-hacking claims that victims had filed. A suit by singer Charlotte Church is the only one set to go to trial.
RBS Chief Pondered ResignationThe chief executive of embattled Royal Bank of Scotland mounted a media blitz in hopes of moving the bank past a bruising public battle over his bonus that he said left him contemplating resignation.
Ghost of MF Haunts CMEMore than three months after the collapse of MF Global, fallout continues to beset the failed futures firm's front-line regulator, CME Group.
