Chesapeake tumbles on debt snag

Shares of Chesapeake Energy plunged late Friday after the heavily indebted firm revealed that it may be forced to delay some asset sales.
In a filing with the Securities and Exchange Commission, Chesapeake (, Fortune 500) said it may have to postpone some previously planned sales of assets, such as oil and gas wells, because […]

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Hollande Criticism Shows He Doesn

Francois Hollande

Patriot Coal to idle Kentucky mine amid demand slump

Patriot Coal Corp. annnounced today that it will idle production at its Freedom underground mine in an effort to deal with falling coal demand from utility companies.
The mine, located near Henderson, Ky., produced 1.2 million tons of thermal coal in 2011.
“Thermal coal markets remain weak as a result of the mild winter, coupled with low […]

Iran Central Bank Says Rial Can Be Traded at Market Rates - Bloomberg

Iran

U.K. Retail Sales Unexpectedly Increased in January: Economy - Bloomberg

U.K. retail sales unexpectedly rose for a second month in January, adding to signs the economy may strengthen in the current quarter and avoid a recession.
Sales including fuel rose 0.9 percent from December, when they rose 0.6 percent, the Office for National Statistics said today in London. Economists forecast a 0.3 percent decline, according […]

US stocks rebound a day after big losses

Stocks are opening broadly higher after an unexpected drop in unemployment claims and signs of progress in Europe’s debt crisis. The gains came one day after the Dow Jones industrial average sank nearly 400 points.
Concerns about Europe eased slightly after Italy sold debt at borrowing rates that were more favorable than analysts expected. Greece named […]

EU sets new bank rules, struggles over crisis plan

European countries will force their largest banks to quickly increase their capital buffers as part of a grand strategy to solve the continent’s debt troubles, but leaders gathered at a crisis summit struggled to agree on the other key parts of the plan.
Strengthening Europe’s banks is key to finally getting a grip on the debt […]

APNewsBreak: Greek 2nd rescue deal seen not enough

Greece’s international creditors warn that a second rescue package tentatively agreed in July may not be enough to save the country from bankruptcy, but believe Athens should nevertheless get its next batch of bailout loans, according to a draft of a debt inspectors’ report obtained Thursday by The Associated Press.
Although the inspectors said Greece has […]

Merkel, Sarkozy reach agreement on boosting banking sector

BERLIN—The leaders of Germany and France, the Eurozone’s two biggest economies, said Sunday they have reached an agreement about how to strengthen Europe’s shaky banking sector amid the region’s debt crisis.
“We are determined to do the necessary to ensure the recapitalization of Europe’s banks,” German Chancellor Angela Merkel following talks with French President Nicolas Sarkozy […]

Lawmaker questions distributors on drug shortages

A Congressman investigating shortages of hospital drugs is demanding that secondary drug distributors reveal how they are getting scarce, life-saving medicines and explain the huge markups they charge.
Letters from a House committee cite an Associated Press report that the shortages are responsible for at least 15 patient deaths and that secondary distributors are selling drugs […]