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Breaking News

Latest Headlines

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IT Spending Stays Weak
U.S. companies continue to cut budgets and delay investments for information technology, as indicated by weak results among India's outsourcing firms.
- IT Demand Slumps! Wait, Does it?
Chinese Data Show Impact of Global Woes
China's current-account surplus, the broadest measure of its trade balance, shrank sharply in the first quarter on weaker export growth, confirming a slowdown trend suggested by earlier data.

- + Booming oil prices are flooding Arab countries wit…
  
  Booming oil prices are flooding Arab countries with money, and much of it is now being spent at home. Here, people visit the Masdar Institute campus, part of Masdar City, a renewable energy complex near the Abu Dhabi airport in the United Arab Emirates.
  Kamran Jebreili/Associated Press
- + Gulf states are embarking on their biggest spendin…
  
  Gulf states are embarking on their biggest spending spree on record as they lavish funds on domestic projects—from new housing and hospitals to mosque restoration and job creation. Here, new high-rise buildings under construction in the King Abdullah financial district of Riyadh, Saudi Arabia.
  Waseem Obaidi/Bloomberg News
- + The new spending builds on a long-standing shift t…
  
  The new spending builds on a long-standing shift toward domestic spending as Gulf countries try to diversify their economies away from oil. Here, Yas Island, seen from the balcony of a newly built apartment at the Al Bandar marina development in Abu Dhabi.
  Duncan Chard/Bloomberg News
- + All told, Gulf countries have an estimated $1.8 tr…
  
  All told, Gulf countries have an estimated $1.8 trillion of capital investments planned or under way over the next 15 years. Here, Al Maryah Island, a new financial district under construction near Abu Dhabi's central business district, in March 2011.
  Duncan Chard/Bloomberg News
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Gulf States Keep Oil Dollars Home
Rather than flooding world financial markets with petrodollars, Gulf states after the Arab Spring are choosing to spend more of their wealth at home.

What’s News —

Business & Finance

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Goldman Banker Named in Galleon Probe
The U.S. is investigating whether a senior investment banker for Goldman Sachs gave hedge-fund traders at Galleon advance word of pending health-care deals.
S&P; Headed for Third Straight Jump
U.S. stocks traded higher as better-than-expected housing data lifted sentiment and investors shrugged off disappointing readings on the job market and confidence in Europe.
Murdoch Concedes Missteps on Scandal
News Corp. chief Rupert Murdoch said he should have more quickly addressed allegations of unlawful newsgathering practices at the company's now-closed News of the World tabloid.
- Recap: Day 2 Testimony
Indian Firms Aim to Bid for Afghan Mines
A consortium of Indian state-owned companies is on a short list to bid for copper and gold projects in Afghanistan, a move likely to raise tensions among Pakistani authorities already jittery about New Delhi's growing role in the country.
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Profit Growth at Bank of China Slows
Bank of China offered the first indication that China's slowing economy could end a streak of outsize profit growth among the nation's biggest state-run banks, as its first-quarter net profit rose 9.9%.
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Citi Fills Another Key Japan Slot
Citigroup could name Tatsuo Tanaka, deputy president of Mitsubishi UFJ Financial Group, as the new chairman of its troubled Japanese operations as early as Friday.
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Costs Crimp PepsiCo
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Plant-Closing Charge Dents Mitsubishi Net
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Fed Holds Rates, but Outlooks Shift
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Avon Executive Resigns
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Barclays Cautious; Investment Bank Gains
Indian Shares End Tad Lower

China

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China: Apple's Middle Kingdom
Not long ago, Asia Pacific was all but a footnote in the financial statements of technology juggernaut Apple. But the fast-growing market now represents about one-fourth of Apple's revenue.
- Video
- Apple's Stock-Market Sway
China Reaches Out on Rare Earths
China Vice Premier to Tour Russia, Europe
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Fuel Costs Deck Chinese Airlines

World

Rival's Acquittal Will Vex Japan Premier
For a Japanese government trying to push through an unpopular sales-tax increase, the acquittal of power broker Ichiro Ozawa creates a fresh headache.
- JRT: What the Verdict Means
Taylor Found Guilty of War Crimes
Pakistan Premier Gets 30-Second Sentence
Le Pen Says Success Was No 'Crisis Vote'
Syria, Rebels Trade Blame for Violence in Hama
U.S. Issues Travel Alert for Pakistan
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U.K. to Stop Discouraging Trade With Myanmar
U.N. Finds Cluster Bombs in Sri Lanka
CIA Gets More Leeway With Drones

Earnings

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Nintendo Posts Loss
Nintendo posted a $531.1 million fiscal-year loss, its first in more than three decades, dragged down by the strong yen and price cuts for the company's Wii game console and 3DS hand-held system.
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PetroChina Profit Rises; Sinopec Slips
TSMC Hikes Capex After Profit Slips
Acer Ultrabook Shipments Drop
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Japan Tobacco Profit Rises 32%
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Softbank Profit Surges On Subscriber Growth, iPhone

Editors' Picks

Video

Cricket

Cricket's 'Chucking' Challenge
Cricket's current system of assessing the straightness of a bowler's arm is overly reliant on an imperfect gauge – the human eye.
Tendulkar to India's Parliament, Really?

Food & Drink

A Day for Hong Kong's Long-Suffering Lager Lovers
Frustrated with the Hong Kong's weak beer selection, Jonathan So has taken matters into his own hands by launching his own beer festival.
Indonesia Bans U.S. Beef Imports
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Meyer Lemon Almost-Soufflé
Pairing Cocktails With Food

Fashion

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Hunting for Fashion's Copycats
The Fashion Law blog, founded by a second-year law student who loves fashion, looks for uncanny similarities in the world of styles and retail.
- Video: Fashion Bloggers Seek Out Fakes
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Style in the Big and Tall Department

China

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Mining the Chinese Consumer
Companies' highly varied first-quarter results in China provide a reminder that the structure of the country's demand is changing.
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SEC Probes Studios on China
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U.S. Charges Two Taiwanese With Spying for China

India

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India Cabinet Approves Banking Amendment Bill
India's federal cabinet approved a bill to amend banking laws, but kept voting rights of shareholders of private banks unchanged at 10%, a senior government official said.
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Idea Cellular Profit Drops 13%
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India Forecasts Normal Monsoon

Markets

Asia Markets End Mixed
Strong results from Apple boosted tech shares in Tokyo and Taipei. The Nikkei gained 1%.
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Europe's Banks Churn Out Profits
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Hartford Sells Piece of Annuity Business

Tech

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CEO: Groupon Must Avoid 'Stupid Risks'
Groupon CEO Andrew Mason told the company's employees that the daily-deals site needs to grow up — right after he apologized for drinking too much beer.
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Google Seeks Partners for Its Autos
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Customers Shun Prepaid Wireless Services

World

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Mexico Probes Allegations Over Wal-Mart
The Mexican Attorney General's Office has started an investigation into allegations of bribery involving officials of retailer Wal-Mart de Mexico and government officials.
Argentina Senate Approves YPF Plan
Moody's: India's High Savings Rate Supports Rating

U.S.

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Education Slowdown Threatens U.S.
Throughout American history, almost every generation has had substantially more education than that of its parents. That is no longer true.
Secret Service Investigation Widens
Health Law Rebates Could Top $1 Billion

Life & Style

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Dude, Pass the Exfoliator
Marketers are finding what makes men buy grooming products—starting with labeling items 'for men' and letting men shop in their own space.
Matt Lauer Channels Don Draper in Plaid Jacket on 'Today' Show
Sissy Spacek: The Well-Adjusted Actress

Opinion

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Japan's Third Opening, Closed
Noda puts freer trade on hold.
The Romney Opportunity
Karl Rove: I Was Wrong About Dick Cheney . . .

MARKET NEWS

Market Data Center

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Opinion

Photos

Agence France-Presse/Getty Images
Photos of the Day: April 26
In today's pictures, women battle over a judo medal in Russia, a Minnesota baseball player takes a ball to the head, Indonesia euthanizes suspect chickens, and more.
Ng Han Guan/Associated Press
Asia in Pictures
Indian dairy workers protest a reduction of milk prices, North Korean military performers sing to celebrate the 80th anniversary of the founding of the army, Pakistani people mourn bombing victims, and more.
Tauseef Mustafa/Agence France-Presse/Getty Images
Srinagar-Leh Highway Reopens
The Srinagar-Leh Highway, which connects Kashmir with Ladakh, has reopened to traffic after being closed since December due to snow. Some snapshots.
Pascal Rossignol/Reuters
Australia and New Zealand Mark Anzac Day
April 25, the day in 1915 of an ill-fated World War I landing in Gallipolli, Turkey, is set aside for commemorating members of the Australian and New Zealand Army Corps fallen in that war and the wars since.
Associated Press
Mining Asteroids
A company financed by billionaires outlined Tuesday its plan to send an unmanned spacecraft to an asteroid and mine it for valuable metals.
European Pressphoto Agency
Beijing Auto Show
Auto makers are bringing SUVs and luxury sedans designed for Chinese buyers to the country's biggest auto show as they scramble to keep sales growing amid a slump in this giant market's once-explosive demand.