Business Today: Wall Street falls on day after big gains as IBM, Intel drag

Click to View in Browser 04/18/2012 Wall Street falls on day after big gains as IBM, Intel drag NEW YORK (Reuters) - U.S. stocks slipped on Wednesday, a day after Wall Street's best gains in a month, as uninspiring earnings from tech bellwethers IBM and Intel gave investors a reason to take profits. U.S. faces big tax, budget test at year end: Geithner WASHINGTON (Reuters) - The government will face a major test on whether it has the capacity to govern when it faces big tax and budget decisions at the end of the year, U.S. Treasury Secretary Timothy Geithner said on Wednesday. Warren Buffett has prostate cancer, sees no danger (Reuters) - Berkshire Hathaway Inc Chief Executive Warren Buffett said he has stage 1 prostate cancer but his condition "is not remotely life-threatening or even debilitating in any meaningful way." Chesapeake shares tumble on CEO loan worries NEW YORK (Reuters) - Shares of Chesapeake Energy Corp fell more than 10 percent on Wednesday after a Reuters report that Chief Executive Aubrey McClendon borrowed as much as $1.1 billion over the last three years against his stake in thousands of company wells. Roche set to walk away from $6.8 billion Illumina bid ZURICH/NEW YORK (Reuters) - Swiss drugmaker Roche said on Wednesday it would not extend a $6.8 billion hostile offer for genetic specialist Illumina as the U.S. group's shareholders blocked its move to appoint new directors. Starbucks aims to woo China workers, parents LOS ANGELES/BEIJING (Reuters) - Starbucks Corp wants to make its mainland China expansion a family affair. Exxon, Rosneft unveil $500 billion offshore venture MOSCOW (Reuters) - Oil major ExxonMobil and Russia's Rosneft unveiled an offshore exploration partnership on Wednesday that could invest upward of $500 billion in developing Russia's vast energy reserves in the Arctic and Black Sea. Halliburton profit up, but North America pressured (Reuters) - Halliburton Co , the world's second-largest oilfield services company, reported a higher quarterly profit as North American sales hit a record high despite major challenges, and its shares rose more than 4 percent. BlackRock first-quarter profit steady as ETFs draw billions (Reuters) - BlackRock Inc , the world's largest asset manager, said first-quarter profits were steady, bolstered by strong inflows into its popular iShares exchange-traded fund business. BP proposes Gulf spill accord terms, trial delay (Reuters) - BP Plc reached settlements to resolve billions of dollars of claims from the 2010 Gulf of Mexico oil spill, and asked a U.S. judge for a long delay in any trial over remaining disputes stemming from the disaster. Related Video Oil supplies bulge, fears shrink Breakingviews: Citi uprising Economic News Pentagon seeks to loosen some export restrictions Spain seeks health care cuts as crisis deepens A daily digest of breaking business news, coverage of the US economy, major corporate news and the financial markets. Register Today   The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day. Register Today   » MORE NEWSLETTERS - 3 Times Square New York, NY 10036 USA © Copyright 2010 Thomson Reuters Ensure delivery of Reuters Newsmails, add mail@nl.reuters.com to your address book. Details Subscribe to other Reuters newsletters. Unsubscribe from this newsletter. Follow us on Twitter Friend us on Facebook Forward to a friend