Amazon launches online media storage service

Amazon.com wants to be more than a destination for shopping online _ it also dreams of being a place where you can store your music, photos and videos and access them any time, from any computer.
The online retailer launched two new offerings late Monday: Amazon Cloud Drive and Amazon Cloud Player. The first lets you […]

Bernanke says bank overhaul will help small banks

Federal Reserve Chairman Ben Bernanke told a group of small-bank executives on Wednesday that the financial overhaul will benefit their institutions because it will level the playing field with the industry’s giants.
Bernanke said it would be important for the banks to adapt to the changing regulatory environment, in remarks prepared for the annual convention in […]

Bristol reports positive results for melanoma drug

Bristol-Myers Squibb Co. said Monday that a new study of its highly anticipated melanoma drug improved survival time in patients with advanced skin cancer.
The company said the trial compared patients taking regular chemotherapy with those taking Bristol’s ipilimumab plus chemotherapy. All of the patients had advanced melanoma and had not been previously treated with other […]

Obama Says Latin America Visit Will Help to Boost U.S. Economic Recovery - Bloomberg

President Barack Obama said a main objective of his trip to Latin America will be to forge even stronger economic partnerships in the region in order to create jobs in the U.S.
Obama began his weekly address on the radio and Internet by reaffirming his earlier statements that the U.S. will work with international partners […]

Goldman will pay Berkshire $5.65B to redeem shares

The Goldman Sachs Group has received regulators’ permission to spend $5.65 billion to repurchase Berkshire Hathaway’s preferred shares in the banking giant.
Goldman said Friday that the Federal Reserve had approved its plan to repay Warren Buffett’s company for the $5 billion investment it made at the height of the financial crisis in the fall of […]

Local drugmaker exhausting stores of anti-radiation medicine

In the wake of Japan’s nuclear crisis, a Fenton-based pharmaceutical company is exhausting its inventory of a leading medicine used to combat radiation sickness.
Fleming Pharmaceuticals’ shortage of potassium iodide also has sparked questions over the adequacy of the nation’s stockpile of the anti-radiation medicine.
Fleming President Phill Dritsas said in an interview Wednesday that the U.S. […]

Euro Nations Divided Over Method to Boost Rescue Fund’s Lending Capacity - Bloomberg

European governments were divided over how to boost the rescue fund for debt-strapped countries, taking the gloss off a three-day-old pledge to step up the fight against the fiscal crisis.
Finance ministers from the 17 euro countries failed late yesterday to decide how to bring the emergency aid fund up to its full 440 billion […]

Pro-Ouattara rebels take 4th town in Ivory Coast

A rebel army allied with Ivory Coast’s democratically elected president has taken control of a fourth town in the country’s far West, a military spokesman said Sunday.
Capt. Leon Kouakou Alla said the New Forces rebels captured the small town of Doke over the weekend, extending earlier gains that included the prefecture of Toulepleu and the […]

SEC fights for its Wall Street watchdog role

The head of the Securities and Exchange Commission warned Congress on Thursday that proposed cuts to the regulator’s budget would hurt its ability to do its job watching markets.
Mary Schapiro and her staff were slated to spend all day on Capitol Hill to help the agency get the funding it says it needs to […]

Banks are lowering credit card rates in response to CARD Act

More than a million Bank of America customers saw their credit card rates decrease last month, the nation’s largest credit card issuer confirmed this week. And more cuts are coming from all the big banks.
The rate declines come as a result of the CARD Act, which requires credit card issuers to re-evaluate customers’ accounts […]