Business News

• FTC picks legal sharpshooter for U.S. probe of Google May 31, 2012
  WASHINGTON (Reuters) - When the Federal Trade Commission recently intensified its probe of Internet giant Google, it hired the high-powered Washington lawyer who helped send Oklahoma City bomber Timothy McVeigh to the death chamber. […]
• Wal-Mart latest to leave conservative ALEC advocacy group May 31, 2012
  ROGERS, Arkansas (Reuters) - Wal-Mart Stores Inc, the world's largest retailer and biggest seller of firearms in the United States, is dropping out of a conservative advocacy group in the United States that has been criticized for promoting "Stand Your Ground" gun laws. […]
• Fracking at top of Chevron, Exxon meetings May 31, 2012
  SAN RAMON, Calif./DALLAS (Reuters) - Investor concerns about hydraulic fracturing at Chevron have eased, in contrast to a slight rise at rival Exxon, as the two largest U.S. oil companies faced growing pressure at shareholder meetings to name independent chairmen to improve governance. […]
• Spain debt woes spur flight out of risk assets to U.S. bonds, dollar May 31, 2012
  TOKYO (Reuters) - Shares and commodities slid while the euro fell to its lowest in almost two years against the dollar on Thursday, as surging borrowing costs in troubled Spain heightened fears that it would not be able to rescue its banks and may have to seek a bailout. […]
• GM signs on as Manchester United's auto sponsor May 31, 2012
  DETROIT (Reuters) - The world's largest automaker is jilting America's Super Bowl for the global variety of football. […]
• US Airways, TPG weigh joint bid for American's parent: sources May 31, 2012
  NEW YORK (Reuters) - US Airways Group and private equity firm TPG Capital may team up to bid for American Airlines' parent, AMR Corp , according to people familiar with the discussions. […]
• JPMorgan restructures unit that had $2 billion loss: report May 31, 2012
  (Reuters) - JPMorgan Chase & Co is spinning off the "special investments group" from its scandal-plagued chief investment office (CIO) in a bid to overhaul the division that cost the bank more than $2 billion in trading losses this month, the Financial Times reported. […]
• Analysis: Dewey's bankruptcy: Let the rumble begin May 31, 2012
  (Reuters) - As law firm Dewey & LeBoeuf embarks on the humbling process of working through bankruptcy, creditors and former partners are bracing themselves for a nasty court battle that could drag on for years. […]
• Rosengren wants more Fed easing; Dudley, Fisher don't May 31, 2012
  SAN ANTONIO/WORCESTER, Massachusetts (Reuters) - Underscoring the divide at the U.S. Federal Reserve over its next move, Boston Fed President Eric Rosengren on Wednesday called further policy easing to bring down high unemployment even as two other top Fed officials said no further action was now needed. […]
• Europe's deepening crisis drags Wall Street lower May 31, 2012
  NEW YORK (Reuters) - Stocks tumbled on Wednesday as surging bond yields in Spain and Italy ratcheted up tensions in financial markets about Europe's ability to solve its growing debt crisis. […]