Dow Industrials Eye Fourth Straight Gain

The Dow Jones Industrial Average climbed 93.24 points, or 0.7%, to close at its daily high of 12554.20.

IMF Shifts Policy on Yuan

The fund said it now considers the Chinese yuan only "moderately undervalued," which could present political problems for the U.S. in its effort to press China to boost the value of its currency.

UBS Gets Stung by Facebook IPO

UBS blames Nasdaq OMX Group for losses of as much as $350 million it suffered during Facebook's tumultuous debut.

Chesapeake Directors Voted Off the Board

Chesapeake Energy shareholders rebuked the company's management by overwhelmingly voting against the two directors standing for re-election, whotendered their resignations.

Citi Won't Request Stock Buyback

In a sign of the shock waves due to weakening global growth and large trading losses at a rival, Citigroup said it won't seek regulatory permission to repurchase shares this year.

Kodak's Patent Auction Hits Hurdles

Eastman Kodak's effort to whip up interest in the sale of its digital patent portfolio is flagging, complicating the 132-year-old photography pioneers odds of emerging from bankruptcy court.

U.S. Agency to Sell More Troubled Home Loans

The Federal Housing Administration, struggling to manage a growing glut of delinquent home mortgages, plans to ramp up sales of the nonperforming loans to investors.

Kraft Drops Big Board for Nasdaq

Kraft's move is an escalation in the battle among the exchanges to gain listings, and a coup for Nasdaq after the botched Facebook offering.

Icahn Ups Navistar Stake to 12%

Investor Carl Icahn raised his stake in heavy-truck maker Navistar to about 12% as its shares fell after the company realigned its management and slashed its outlook.

McDonald's Sales Face Headwinds

McDonald's said its same-store sales rose a less-than-expected 3.3% in Mayas the European economy floundered and China's growth cooled.

Europe's East Braces for Possible Greek Exit

Authorities in Europe's emerging economies are girding for the possibility of serious market turmoil in the event of a Greek exit from the euro zone, which could drive down currencies, tighten credit and slam the brakes on export-driven growth.

Alpha Natural to Cut Kentucky Mine Output, 150 Jobs

Alpha Natural Resources plans to reduce coal output at its Kentucky mines and eliminate about 150 jobs, citing continued market pressures

U.S. Oil Output at 14-Year High

U.S. oil output in the first quarter of 2012 rose 12% from a year earlier to its highest level in 14 years, the federal Energy Information Administration said.

Alcatel-Lucent Shareholders Question Management

Shareholders expressed disappointment about performance at Alcatel-Lucent, putting new pressure on the management to deliver on promises of a turnaround.

Glitch in Nasdaq Options Trading

Nasdaq, still smarting from problems with its Facebook IPO, briefly halted trading in options listings beginning with L through Z, citing "systems issues."

Bernanke Notes Risks; Doesn't Signal Action

Bernanke cited significant risks to the U.S. economic recovery and said the Fed stands ready to act if necessary, but he stopped short of signaling imminent action.

Fed Rules Apply to Small Lenders

The Fed shocked bankers by approving a proposal that would force even the smallest lenders to comply with the elaborate international bank-capital standards known as Basel III.

Prosecutors Hone Gupta Case

Prosecutors in the insider-trading trial of Rajat Gupta sought to tie together their case for jurors by condensing a hodgepodge of phone records, trading documents and witness testimony into a concise pattern of events.

Stocks Pushed Net Worth up in First Quarter

U.S. households' net worth grew in the first three months of 2012, fueled by a rising stock market, though much of that gain has been erased since. Separately, jobless claims dipped in the latest week.

China Fund Sours on Europe

In a rare interview, the head of China's sovereign-wealth fund said he sees mounting risks of a euro-zone breakup and says the fund, CIC, has scaled back its European holdings.