Business News Headlines

BERLIN (Reuters) - A German court has assigned an investor lawsuit seeking about 2 billion euros ($2.7 billion) in damages from Porsche SE to a court specializing on cartel matters, a person familiar with the matter told Reuters. The regional court in Braunschweig, Germany, will delegate the case, brought by U.S. investment …

By Alister Bull WASHINGTON (Reuters) - Federal Reserve policymakers will likely announce on Wednesday that they will keep buying bonds at a monthly pace of $85 billion, while keeping their options open to scale back the program later this year if the U.S. labor market continues to improve. Economic data since the 19 officials …

SANTANDER, Spain (Reuters) - Spanish banking group Santander does not need additional provisions to meet new Bank of Spain rules on recognizing bad debt, Deputy Chairman Matias Rodriguez Inciarte said on Wednesday. Economy Minister Luis de Guindos said on Tuesday that Spanish banks would face extra provisions against loan …

PARIS (Reuters) - The new chief of the Eurofighter Typhoon will lay out plans by the end of this year to make the fighter jet cheaper and decision-making quicker, as the aircraft gears up to vie for more business in an increasingly crowded and competitive market. Alberto Gutierrez, the former head of operations at EADS …

By Miyoung Kim SEOUL (Reuters) - Asia's top companies have become more optimistic about their business outlook with the retail and shipping industries rebounding sharply in the second quarter of 2013, the latest Thomson Reuters/INSEAD Asia Business Sentiment Survey shows. The Thomson Reuters/INSEAD Asia Business Sentiment …

BRUSSELS (Reuters) - The euro zone does not intend to change the terms of Cyprus's bailout as requested by Cypriot President Nicos Anastasiades in a letter sent to euro zone leaders and its lenders, three senior euro zone officials said on Wednesday. Cyprus secured 10 billion euros in emergency loans from the euro zone's …

DETROIT (AP) — After initially defying federal regulators, Chrysler abruptly agreed Tuesday to recall some older-model Jeeps with fuel tanks that could rupture and cause fires in rear-end collisions.

WASHINGTON (AP) — Worry and speculation have consumed investors since Chairman Ben Bernanke spoke to Congress last month about the Federal Reserve's drive to keep long-term interest rates at record lows.

SEOUL, South Korea (AP) — Global stock markets were mostly lower Wednesday as investors waited for an update on the U.S. economy from the Federal Reserve.

TRENTON, N.J. (AP) — If doctors and patients used prescription drugs more wisely, they could save the U.S. health care system at least $213 billion a year, by reducing medication overuse, underuse and other flaws in care that cause complications and longer, more-expensive treatments, researchers conclude.

MADRID (AP) — The International Monetary Fund says recession-wracked Spain is making progress but is urging policymakers both within the country and in Europe to take "urgent action" to slash the country's crippling 27 percent unemployment rate.

TOKYO (AP) — Japan's trade deficit rose nearly 10 percent in May to 993.9 billion yen (nearly $10.5 billion), highlighting the challenge Prime Minister Shinzo Abe faces in revitalizing manufacturing as industries increasingly shift production offshore.

BANGKOK (AP) — The price of oil rose Wednesday, before the conclusion of a U.S. Federal Reserve meeting.

WASHINGTON (AP) — A wide-ranging farm bill the House is considering would cut food stamps by $2 billion a year and make it more difficult for some people to qualify for the domestic food aid program.

WASHINGTON (AP) — The U.S. foiled a plot to bomb the New York Stock Exchange because of the sweeping surveillance programs at the heart of a debate over national security and personal privacy, officials said Tuesday at a rare open hearing on intelligence led by lawmakers sympathetic to the spying.

ENGLEWOOD, Colo. (AP) — Satellite TV operator Dish Network Corp. said Tuesday it would not submit a revised bid for Sprint, leaving the path open for the wireless carrier to accept what it already considers a superior offer from Japan's Softbank.

Frank Lloyd Wright may have died in 1959, but his architecture is alive and well. A recent story in the Wall Street Journal revealed the cost to upkeep some of his historic homes may be more than buyers bargain for, but others clamor to invest in history.        

The judge presiding over the lawsuit against Martha Stewart and J.C. Penney ruled on Friday allowing the sale of Martha Stewart merchandise in J.C. Penney stores.