- Sprint Nextel is suing to stop Dish Network's buyout offer for wireless data network operator Clearwire. The nation's third-largest cellphone carrier says the proposed deal violates the rights of Sprint and other Clearwire shareholders.
- New York Mayor Michael Bloomberg has used his platform as Stanford University's commencement speaker to lobby for an immigration reform plan that allows foreign students to remain in the U.S. after they graduate.
Markets Flinch as Fed Eyes Easy-Money End Bernanke said the Fed could start winding down its $85 billion-a-month bond-buying program later this year, setting up a high-stakes test to see if the economy and markets can begin to stand on their own.
Banks Blundered on Mortgage Pact Four of the largest U.S. mortgage servicers failed to comply with parts of a $25 billion landmark national mortgage settlement, the watchdog overseeing the process said.
Swiss Reject U.S. Banks Deal Swiss lawmakers nixed a proposal to let Swiss banks avoid the threat of prosecution in the U.S. by collectively coming clean about their dealings with suspected American tax evaders.
ManpowerGroup CEO: What's Next for Hiring The corporate sector's appetite for temporary staff hasn't translated into big gains for ManpowerGroup: CEO Jeffrey A. Joerres blames conditions in Europe and cites his decision to hold the line on prices.
U.K. Mulls Breakup of RBS The British government is considering splitting RBS into two banks: one housing the lender's healthy assets and the other containing its pile of troubled loans and securities, the U.K. Treasury chief said.
China Banks Warn of Loan Woes A cash squeeze gripping China's financial markets is beginning to trickle into the broader economy, as bank executives warn of higher interest rates and more-cautious lending.
Bond Investors Head for the Hills Signs of a stronger U.S. economy are rippling through the bond markets, sending investors and corporate leaders racing to prepare for higher interest rates.
Traders Try to Game Oil-Price Benchmark Some oil traders say they try to skew Platts oil-price benchmarks by offering to do small deals at a loss, with the goal of doing bigger ones at better prices.
US Business News
Dolce, Gabbana Convicted of Tax Evasion A Milan court has convicted the designers Domenico Dolce and Stefano Gabbana of tax evasion. The court sentenced them both to one year and eight months in jail.
For Web Firms, Faster Access Comes at a Price Facebook, Google and Microsoft and other Internet companies have been paying broadband-service providers for connections to get faster and smoother access into their networks. Netflix has been reluctant.
SandRidge CEO Gets $90 Million on Exit SandRidge Energy chief Tom Ward was ousted by the company's board and given an about $90 million severance package following a probe of dealings with businesses controlled by members of his family.
BOE: U.K. Banks Need More Capital The U.K. banking regulator toughened rules on how much equity banks must hold and issued a damning report card showing a $41.96 billion capital shortfall among British lenders.
Microsoft Explored Deal for Nokia Microsoft was recently in advanced discussions with Nokia about a purchase of its device business, in a marriage that could have reshaped the mobile-phone industry.
U.S. Icons Now Made of Chinese Steel The Verrazano-Narrows Bridge was a feat of American engineering when it was built across New York's harbor in the 1960s. Now, it's being repaired with steel made in China.
White-Collar Sentences Get a Fresh Look A hearing this week on whether to substantially reduce former Enron CEO Jeffrey Skilling's 24-year prison sentence comes amid a growing debate about the rules for punishing white-collar criminals.
Founder Gets Boot at Men's Wearhouse Clothing chain Men's Wearhouse terminated its founder and public face, George Zimmer, from his position as executive chairman. Mr. Zimmer said he was being silenced after expressing concerns about the direction.
Alcatel-Lucent to Slim Down Alcatel-Lucent plans to rework its balance sheet and significantly tighten its focus to a handful of core businesses, in an effort to return the telecommunications-equipment maker to profitability, the company said.