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Reuters: Business News
Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals.

House passes housing bill; Bush lifts veto threat WASHINGTON (Reuters) - The House of Representatives passed a massive housing rescue bill on Wednesday while the White House dropped a threat to veto it, paving the way for measures aimed at shoring up the worst U.S. housing market since the Great Depression. Amazon profit, sales above view and shares rise SAN FRANCISCO (Reuters) - Amazon.com Inc said on Wednesday quarterly profit doubled and sales grew 41 percent, indicating to Wall Street that many cost-conscious shoppers are heading online to save money in a tough economy. SemGroup gets court OK for initial bankruptcy motions NEW YORK (Reuters) - SemGroup LP, an Oklahoma-based oil trading services company, on Wednesday said it received approval from the Bankruptcy Court for its initial motions related to its bankruptcy. Microsoft exec who led Yahoo bid leaving company SEATTLE (Reuters) - Microsoft Corp said on Wednesday that Kevin Johnson, who as president of Microsoft's largest business division spearheaded the company's pursuit of Yahoo Inc , is leaving the software maker. China's Zhongxing in talks with GM, FAW: source SHANGHAI (Reuters) - China's Hebei Zhongxing Automobile Co is in talks with General Motors and major Chinese automaker FAW Group to explore opportunities for cooperation, including equity ties, a source close to the situation said on Thursday. Private social network Facebook to go Web wide SAN FRANCISCO (Reuters) - The leader of a youth movement that swept the world this past year by encouraging Web users to share bits of their lives with selected friends, spoke on Wednesday of spreading his service across the Web, even while apologizing for past excesses. Wall Street rises on oil drop, housing plan optimism NEW YORK (Reuters) - Stocks rose on Wednesday as financial shares climbed on optimism about a rescue plan for mortgage finance companies Fannie Mae and Freddie Mac and as the price of oil fell. Goldman $10 billion fund to invest in LBO loans: report NEW YORK (Reuters) - Goldman Sachs has raised $10 billion to create a fund that will invest in loans used to back leveraged buyouts and take advantage of a gap in the markets caused by the credit crisis, according to a Financial Times report on Wednesday. Qualcomm posts quarterly profit, revenue rises NEW YORK (Reuters) - Mobile phone chip and technology supplier Qualcomm Inc on Wednesday posted a profit for its fiscal third quarter and revenue rose amid increasing demand for phones with high-speed Web links. Pulte Homes second-quarter loss narrows NEW YORK (Reuters) - Pulte Homes Inc posted a smaller quarterly loss on Wednesday, but said buyer confidence remained shaky.