IBT Staff Reporter

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Tech drives Asia stocks higher

Asian stocks rose on Wednesday, led by gains in tech shares after Apple Inc unveiled results that blew past Wall Street's expectations, while the euro struggled as worries mounted about debt-stricken Greece.

Innkeepers USA preps for possible bankruptcy: sources

Innkeepers USA Trust , a U.S. real estate investment trust with interests in about 73 hotels, is getting ready for a possible bankruptcy filing after missing debt payments earlier this month, according to four people familiar with the matter.

Ash flight ban hits life-saving transplant

Europe's flight ban is preventing some life-saving transplant tissue from reaching patients, and other operations have had to be canceled because surgeons are stuck overseas.

Some Paulson clients mull withdrawing money: report

Some of John Paulson's clients are indicating they may withdraw money from the billionaire's hedge fund firm, after it was involved in a transaction that led the U.S. government to file a lawsuit against Goldman Sachs Group Inc , The Wall Street Journal said.

Innkeepers preps for possible bankruptcy: sources

Innkeepers USA Trust , a U.S. real estate investment trust with interests in about 73 hotels, is getting ready for a possible bankruptcy filing after missing debt payments earlier this month, according to four people familiar with the matter.

Yahoo revenue misses as search ad sales contract

Yahoo Inc said large advertisers showed a renewed appetite for online display ads in the first quarter, but the Internet company's troubled search business put a damper on the company's comeback plan.

Author Toibin sees novel surviving new technology

Award-winning Irish writer Colm Toibin firmly believes the novel will remain fundamentally unchanged by the Internet or other high-tech innovations, a realm in which he admits he is nearly illiterate.

Citi CEO stresses responsible finance

Citigroup Inc Chief Executive Vikram Pandit stressed the bank was now focusing on responsible finance, a comment that comes as rival Goldman Sachs wrestles with legal woes.

Apple results smash Street view, outlook strong

Apple Inc's results blew past Wall Street expectations on the back of record iPhone sales, and the company gave a strong revenue forecast, sending its shares up more than 5 percent to an all-time high.

Daily Forecast - 21/4/2010

The Australian Dollar opens higher today at 0.9310 after receiving a boost yesterday from the release of the Reserve Bank of Australia (RBA) April 6 board meeting minutes.

Republicans soften opposition to financial reform

Republican lawmakers on Tuesday took a more conciliatory tone toward Democratic proposals to crack down on Wall Street as the U.S. Senate delayed debate on a financial reform package until next week.

Delta posts smaller loss, sees profitable Q2

Delta Air Lines Inc posted a smaller quarterly loss on Tuesday as business traffic began to recover and said it expects a profit in the current period despite disruptions to transatlantic travel caused by ash from an Iceland volcano.

Flyonthewall should not get ratings changes: banks

Three Wall Street banks urged a Manhattan federal judge not to lift an injunction on Theflyonthewall.com Inc's quick publication of analyst rating changes, saying the financial news service failed to show the ban threatens its ability to stay in business.

Google boosts federal lobbying spending in Q1

Google Inc boosted its spending on federal lobbying 57 percent in the first quarter to address issues including patent reform and competition in the advertising market, as the Internet search giant increasingly finds itself in the regulatory spotlight.

Ex-Lehman CEO faces Congress amid reform battle

Richard Fuld, former CEO of Lehman Brothers, lifted his bowed head, looked squarely at congressional committee members on Tuesday and acknowledged that people were hurt in the collapse of the former Wall Street giant.

Yahoo profit outpaces Wall Street estimates

Yahoo Inc exceeded Wall Street's earnings expectations in the first quarter thanks to the sale of some of its assets and its search deal with Microsoft, but the company's revenue fell a hair short of Wall Street expectations.

Lawmakers tone down fight on financial reform

Republican party lawmakers on Tuesday took a more conciliatory tone toward Democratic proposals to crack down on Wall Street as the U.S. Senate delayed debate on a financial reform package until next week.

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