Euro zone ponders Greek exit as leaders meet
BRUSSELS - European leaders, at odds over how to resolve the deepening crisis in the euro zone on Wednesday, have been advised by senior officials to prepare contingency plans in case Greece quits the single-currency area. Full Article
HP to lay off about 27,000, profit slides 31 percent
SAN FRANCISCO - Hewlett Packard Co said on Wednesday it would lay off roughly 27,000 employees or about 8 percent of its workforce to jumpstart growth, and its shares rose 11 percent. | Video
Facebook, banks sued over pre-IPO calls
Facebook and banks including Morgan Stanley were sued by the social networking leader's shareholders, who claimed the defendants hid Facebook's weakened growth forecasts ahead of its $16 billion initial public offering. Full Article | Video
Pakistani doctor jailed for helping find bin Laden
PESHAWAR, Pakistan - Pakistani authorities have sentenced a doctor accused of helping the CIA find Osama bin Laden to 33 years in jail on charges of treason, officials said, a move almost certain to further strain ties between Washington and Islamabad. Full Article
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Mexico's Zetas rewrite drug war in blood
VALLECILLO, Mexico - Well-trained and ruthless, the Zetas cartel has used guerrilla tactics to rewrite the gang playbook to terrifying effect, displacing Mexico’s oldest cartels and taking the dominant position in the multi-billion-dollar cross-border drug trade. Full Article | Video
High stakes in battle to reshape Congress
SCHAUMBURG, Illinois - The closely watched race between Illinois Republican Representative Joe Walsh and his Democratic challenger, Tammy Duckworth, is one of several that will reshape Congress while unfolding beyond the glare of the presidential race. Full Article
Investors pressed to go alternative: Stern Advice
WASHINGTON - Alternative investments are being heavily promoted to financial advisers, who are in turn pitching the idea to their clients as a way of limiting portfolio risk -- and justifying the advisers' fees. Full Article
Scientists turn skin cells into heart muscle
LONDON - Scientists have for the first time succeeded in taking skin cells from patients with heart failure and transforming them into healthy, beating heart tissue that could one day be used to treat the condition. Full Article | Video
HP cutting 27,000 jobs
May 23 - Summary of business headlines: HP cutting workforce 8 percent; NYSE courting Facebook-Reuters source; Wall St. focused on Greek uncertainty; Dell plunges 17 percent. Bobbi Rebell reports.
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Is France closing for business?
It’s too early to tell how adept President Francois Hollande will be in steering the French economy through these difficult times, but already there are some early indications that the business climate in France may be about to change for international companies Commentary
For growth, focus first on jobs
Many self-appointed Keynesians want more fiscal and monetary stimulus to push up GDP. But they twist the ideas of the great economist. Keynes considered jobs more important than output, and hiring more effective than spending. His insights would help end the Lesser Depression. Commentary
Did Chesapeake miss Enron lessons?
Chesapeake Energy seems to have missed some of the lessons of Enron. There have been no allegations of fraud. But the U.S. gas firm’s vast trading operation, fondness for complicated holdings, and corporate largesse are among the traits that should have invited greater scrutiny of Enron’s edifice. Commentary
JPMorgan loss kick-starts CEO race
A time-honored tradition for handling executive succession on Wall Street is the practice of putting two ferrets in a sack, figuratively speaking. JPMorgan has yet to officially haul out the burlap sack, but the $2 billion trading loss it disclosed two weeks ago has accelerated the contest to succeed Jamie Dimon. Commentary
America and Syria’s "dead man walking"
A peaceful solution to Syria’s protracted crisis now looks remote enough to wonder whether Assad might outlast Obama in power. The U.S. president is not assured of winning another term, but the odds of the Assad regime surviving into 2013 look better with every passing day. Commentary
Who truly speaks for small businesses?
A prominent group has joined the federal lawsuit against Obamacare, arguing that it hurts small businesses. But a closer look at the group's history raises questions about where its agenda is really coming from. Commentary
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Obama’s Pakistan problem
Pakistan threatens to become one of the largest foreign policy failures of Obama's presidency, argues Reuters columnist David Rohde. Video
Romney outlines his education plan
Republican presidential candidate Mitt Romney opened a new front in his fight against President Barack Obama, accusing him of presiding over a failing education system that is in the grip of union bosses who refuse to accept reforms. Full Article
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- A round-up of economists' estimations of the fallout from Greece leaving the euro
- All of the sudden executives want to go to trial against the SEC
- The fiscal cliff would put the US economy back into recession
- Source: Banks cut estimates just before the Facebook IPO because company executives told them to
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