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Financial News

Bernanke Says Banks Should Keep Raising Capital to Avoid Damaging Economy Federal Reserve Chairman Ben S. Bernanke pushed banks to keep raising capital in the aftermath of losses from the credit crisis to avert deeper damage to the U.S. economy.

Icahn Seeks Control of Yahoo Board, Wins Backing From Paulson Hedge Fund Billionaire investor Carl Icahn threatened to seek control of Yahoo! Inc.'s board if the Internet company doesn't revive takeover talks with Microsoft Corp. and won support from hedge-fund manager John Paulson.

Stocks in U.S. Climb, S&P 500 Reaches Four-Month High; Intel, Exxon Gain U.S. stocks climbed, sending the Standard & Poor's 500 Index to a four-month high, as analysts said chipmakers will benefit from rising global demand and energy shares are cheap relative to crude prices.

Blackstone's Schwarzman Says Markets on the Mend, Sees `Signs of Recovery' Blackstone Group LP Chief Executive Officer Stephen Schwarzman said financial markets are showing ``signs of recovery,'' sending the company's stock up 5.3 percent.

Buffett's Berkshire Hathaway Increases Investments in Wells Fargo, Kraft Billionaire Warren Buffett's Berkshire Hathaway Inc. added to stakes in Kraft Foods Inc. and Wells Fargo & Co. in the first quarter, taking advantage of prices driven down by the credit crisis and slowing U.S. economy.

Fed, BOE Signal End of Rate Cuts as Price Pressures Increase, Crisis Eases The world's most powerful central banks are telegraphing the end of interest-rate cuts, and traders already anticipate the first steps in the opposite direction.

J.C. Penney, Kohl's, Nordstrom Report Profit That Beat Analysts' Estimates J.C. Penney Co., Kohl's Corp. and Nordstrom Inc. reported first-quarter profit that fell less than analysts estimated by reducing costs as the economy teetered near a recession.

United Air Accidentally Drops $130 Fuel Surcharge After Clerical Mistake UAL Corp.'s United Airlines said it accidentally dropped fuel surcharges of as much as $130 round trip on all of its domestic routes around midday today.

General News

Obama May Be Targeted by Republican Soft-on-Crime Charges Used on Dukakis The Republicans are facing an uphill battle against a fresh-faced Democrat for a third term in the White House, and they are reaching for a familiar playbook: crime.

Generic Drug Prices for Elderly Fell Most in Five Years in U.S., AARP Says Older Americans paid an average 9.6 percent less last year for widely used generic drugs, the biggest drop since at least 2003, according to a report by the retiree lobbyist group AARP.

Americans Want Bush Administration to Stem Dollar's Decline, Survey Shows Americans want Treasury Secretary Henry Paulson to act to stop the dollar's decline, which has stoked the inflation eroding their household incomes.

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