EU officials to talk over possible Greece rescue
BRUSSELS (AP) — European Union goverments are negotiating plans to rescue Greece if it nears a disastrous default on its debt, after investor worries over its shaky finances sent stock markets and the euro in a downward spiral. Analysts say EU governments could offer loan guarantees or financial assistance from countries that want to help, and that Germany and France could play a leading role.
Sprint Nextel slows subscriber loss in 4th quarter
NEW YORK (AP) — Sprint Nextel Corp.'s subscriber losses slowed in the fourth quarter, an encouraging sign for a wireless carrier that has lost millions of customers over the past few years. Sprint lost a net 148,000 subscribers in the last three months of 2009, far fewer than the 545,000 who fled in the third quarter, the carrier said Wednesday.
More recalls likely amid caution after Toyota woes
TOKYO (AP) — Honda's expansion of its global recall for faulty air bags suggests automakers are turning cautious amid consumer scrutiny of Toyota's safety lapses, a trend that could see more recalls in the coming months. Honda Motor Co., Japan's No. 2 automaker, said Wednesday it was recalling an additional 437,000 cars globally, bringing its 15 month-old recall to nearly 1 million vehicles.
Greece leads markets higher amid EU rescue hopes
LONDON (AP) — Greek shares led world markets higher Wednesday amid mounting hopes that German opposition to a European Union financial rescue package for the heavily indebted country is waning. European markets climbed higher following big gains Tuesday on Wall Street and an earlier advance in Asia.
AP sources: FAA eyes hefty fines for American
WASHINGTON (AP) — The Federal Aviation Administration is close to wrapping up a two-year investigation of safety violations at American Airlines that could result in one of the largest fines in the agency's history, according to government and industry officials familiar with the investigation. Separately, the Transportation Department's inspector general is due to release an audit in the next several days that criticizes FAA for lax oversight of aircraft maintenance at American, the officials said Tuesday.
Oil near $74 as weak dollar offsets high supplies
Oil prices rose to near $74 a barrel Wednesday, boosted by a weaker dollar but held back by a report showing unexpected growth in U.S. crude inventories, casting more doubt on the recovery in the world's biggest economy. By early afternoon in Europe, benchmark crude for March delivery was up 20 cents at $73.95 a barrel in electronic trading on the New York Mercantile Exchange, moving between $73.18 and $74.30.
Stock futures higher on Greece bailout hopes
NEW YORK (AP) — Stock futures rose modestly Wednesday, pointing to a second straight day of gains, as hopes grew that the European Union will provide a rescue package for Greece. Stocks surged Tuesday as investors expected Greece to get help for its mounting debt problem. The Dow Jones industrial average rallied more than 150 points Tuesday, a day after it closed below 10,000 for the first time in three months.
Bank of England expects slow economic recovery
LONDON (AP) — The Bank of England said Wednesday that the pace of recovery in the U.K. economy is slower than it previously forecast, impeded by tight credit and the need to repair public and private balance sheets. "The strength of the recovery is highly uncertain," the bank said in its quarterly Inflation Report.
Sanofi-Aventis Q4 profit up on swine flu vaccines
PARIS (AP) — Sanofi-Aventis reported a 10 percent increase in fourth quarter net profit Wednesday as strong sales of its swine flu vaccine drove full year earnings above expectations. France's largest drug maker said net profit rose to (EURO)1.8 billion ($2.5 billion) in the three months ending Dec. 31 from (EURO)1.63 billion a year earlier.
Report: Rio Tinto employees to stand trial
BEIJING (AP) — China will put an Australian national and three other detained employees of mining giant Rio Tinto Ltd. on trial on charges of stealing commercial secrets and taking bribes, a state news agency said Wednesday. The four Rio employees were detained in July during contentious iron ore price talks with China's steel industry group. The case strained relations between Beijing and Australia, a key supplier of iron ore to China's steel mills.
