The haven status that drove German yields to record lows is fading as the fourth bailout of a euro member stokes investor concern that the currency bloc&rsquo;s biggest economy will be left picking up a mounting tab.

Germany's haven status fades

Business Standard

Warren Buffett's lunch auction, an annual fundraiser for the Glide Foundation in San Francisco, raised a record $3.46 million as online bidding nearly tripled the price in the last minute of the weeklong event.

Buffett charity lunch exceeds $500,000 in auction

Political and fiscal risks may lead to another downgrade of the US&rsquo;s credit rating by 2014 by Standard &amp; Poor&rsquo;s, which affirmed its negative outlook on the nation&rsquo;s debt.

US political risk may spur downgrade by 2014, says S&P 

President Barack Obama pressed Europe&rsquo;s leaders to take &ldquo;decisive&rdquo; action to stimulate growth while dealing with debt, saying the euro-zone crisis is putting a serious drag on the U.S. economy.

Obama says Europe must act as crisis threatens recovery

China's consumer prices rose the least in two years in May and industrial output and retail sales trailed estimates, adding pressure for more loosening after this week's interest-rate cut.

Slow growth data add to rate-cut pressure

Greece faces the threat of rolling power blackouts as the economic crisis leaves utilities without cash to pay for natural gas imports and operate power stations.

Greece on the verge of blackouts

Spain may today move closer to becoming the fourth euro-area nation to receive aid, as the International Monetary Fund said the country's banks need at least euro 37 billion ($46 billion) to bear a weaker economy.

Spain aid request awaited, IMF says banks need $46 bn 

JPMorgan Chase &amp; Co Chief Executive Officer Jamie Dimon spent much of his time at a hearing where US senators aimed to put him on the defensive firing back at the federal regulatory system.

Dimon fires back at Senate grilling

Essar Group, owned by billionaire brothers Shashi and Ravi Ruia, is targeting $35 billion in revenue in three years as it taps demand for infrastructure in Asia&rsquo;s third-largest economy.

Essar sees $35-bn sales on Prime Minister's investment pledge

The financial crisis wiped out 18 years of gains for the median US household net worth, with a 38.8 per cent plunge from 2007 to 2010 that was led by the collapse in home prices, a Federal Reserve study showed.

US crisis wiped out 18 yrs of household gains

Adnan Ebrahim was blogging about cars alongside his university studies until Volvo cars invited him last year for a test drive. The hobby has now turned into a full-time job, as luxury-auto makers work to reach new buyers.

'BMW courts bloggers for $110-mn online boost'

Warren Buffett&rsquo;s Berkshire Hathaway Inc jumped into the slumping private-jet market again with a record order valued at $9.6 billion, betting on a rebound later this decade with a third plane purchase in less than two years.

Buffett invests $9.6 bn in private-jet market

Former Goldman Sachs Group director Rajat Gupta rested his defence to federal insider-trading charges without testifying or being allowed to play wiretapped recordings that his lawyer called &ldquo;substantial&rdquo; to his case.

Gupta loses bid to play Loeb wiretaps

The US, European Union (EU) and Japan may fail to fully implement bank-capital rules drawn up to prevent a repeat of the financial crisis that followed the 2008 collapse of Lehman Brothers Holdings Inc, global watchdogs warned today.

EU, US criticised over bank rules weaker than Basel-III

China's passenger-vehicle sales rose more than analysts estimated in May as purchases of Toyota Motor Corp and Honda Motor Co cars recovered from disruptions caused by last year's natural disasters.

Sales of passenger cars exceed estimates

Anyone looking to buy and sell European stocks during the next four weeks may have an easier time trading because the region's championship soccer matches will be played at night.

Euro 2012 schedule avoids trading slumps

Treasury yields had the biggest weekly increase in almost three months as bets European leaders may make progress stemming their debt crisis damped haven demand and the US prepared to sell $66 billion of notes and bonds.

Treasury yields climb most in 3 months on Europe outlook 

Nokia Oyj cut its earnings forecast for the second time this year and said it will reduce as many as 10,000 jobs and shut production and research sites in Chief Executive Officer (CEO) Stephen Elop&rsquo;s biggest overhaul.

Nokia to axe 10,000 jobs as CEO tries to staunch losses

Facebook Inc plans to introduce real-time bidding for advertising on its site, a technology used by Google Inc and other Web companies to more effectively target ads to consumers.

Facebook to debut real-time bidding on ad prices

The European Central Bank said it can&rsquo;t release files showing how Greece may have used derivatives to hide its borrowings because disclosure could still inflame the crisis threatening the future of the single currency.

ECB against releasing Greek swap files

Oil rose in New York, heading for a second week of gains, on speculation that the US Federal Reserve may take more steps to stimulate the economy and on the Organisation of Petroleum Exporting Countries&rsquo; (Opec) call for members to cut production in excess of quotas.

Bloomberg