  | | | | | NEW YORK (Reuters) - The S&P 500 touched its highest level since early May on Wednesday as corporate profits from bellwethers Intel and Honeywell defied fears of a collapse in earnings. | | |  | | | | | (Reuters) - IBM posted second-quarter revenue of $25.8 billion and net earnings of $4.1 billion as the technology and consulting company benefited from strong demand for software services but was hit by currency effects. | | | |  | | | | | SAN FRANCISCO (Reuters) - EBay Inc reported a 23 percent increase in second-quarter revenue to $3.4 billion on Wednesday, while profit climbed 16 percent to $730 million, or 56 cents per share. | | | |  | | | | | (Reuters) - Credit card company American Express Co's second-quarter profit rose just marginally as low consumer confidence led to cardmember spending growth moderating. | | | |  | | | | | WASHINGTON (Reuters) - Capital One Financial agreed to pay $210 million to resolve charges by banking regulators that its call-center representatives misled consumers into paying for extra credit card products. | | | |  | | | | | (Reuters) - Hedge fund Pershing Square Capital Management told investors this week that it recently sold its position in Citigroup and used that money to buy shares of Procter & Gamble. | | | |  | | | | | ASPEN, Colorado (Reuters) - J.C. Penney Co Inc Chief Executive Ron Johnson stood by the company's new pricing strategy on Wednesday, even though that plan has initially hurt sales. | | | |  | | | | | CHICAGO/CEDAR FALLS, Iowa (Reuters) - Peregrine Financial Group Chief Executive Russell Wasendorf Sr., who last week confessed to bilking futures customers of more than $100 million, owned a jet plane and an extensive wine collection but he did not, he said in his confession, live large. | | |  | | | | | NEW YORK (Reuters) - U.S. Treasury Secretary Timothy Geithner defended himself against criticisms that regulators should have taken bigger steps to address concerns over the credibility of the benchmark Libor interest rate, saying on Wednesday that U.S. authorities had pushed early and forcefully for reforms. | | |  | | | | | ZURICH (Reuters) - Credit Suisse unveiled measures to boost its capital base by 15.3 billion Swiss francs ($15.6 billion), a move that was welcomed by a previously critical central bank and left some investors skeptical. | | | |  |  | | | 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 | |
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