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 April 13, 2011 Afternoon Update |
 TOP NEWSObama Urges Cuts and Taxes on the RichBy MICHAEL D. SHEARPresident Obama on Wednesday countered Republican budget plans with what he said was a more balanced approach that relies in part on tax increases for the wealthy as well as on spending cuts. Egyptian Prosecutors Order 15-Day Detention of MubarakBy DAVID D. KIRKPATRICK and LIAM STACKProsecutors said on Wednesday they had detained former president Hosni Mubarak and his two sons for 15 days to face questioning about corruption and the use of violence against protesters. Delegates Meet in Support of Libya RebelsBy CLIFFORD KRAUSS, ALAN COWELL and STEVEN LEE MYERSNATO and Arab and African ministers met with the rebels on Wednesday as diplomacy intensified. Boy, 10, Escapes as Mother Drives Her Family Into HudsonBy JAMES BARRONLaShanda Armstrong, 25, and three younger children died after she drove her minivan into the river. DealBookQuarterly Profit Surges 67% at JPMorganBy ERIC DASHJPMorgan Chase kicked off bank earnings season on Wednesday, reporting first quarter profit of $5.6 billion, even as problems in its mortgage lending business continued to mount. |
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BUSINESSDealBookFormer FrontPoint Manager Charged With Insider TradingBy BEN PROTESSJoseph F. Skowron, who specialized in health care funds, also faces charges for conspiring to hide his role in an illicit trading scheme, prosecutors said. Sidney Harman, Newsweek Chairman, Is Dead at 92By ROBERT D. McFADDENMr. Harman made a late-in-life splash by acquiring Newsweek magazine and wedding it with a sassy Web site, The Daily Beast. Fed Report Notes That Economy Continues to ImproveBy CHRISTINE HAUSERThe beige book cited a "steady improvement" in manufacturing, often including hiring, and at least 10 districts noted "slight gains" in consumer spending. BP Scrambles to Salvage Rosneft Deal as Deadline NearsBy JULIA WERDIGIERTo keep the deal from collapsing, BP must persuade Rosneft to extend the deadline or find a compromise with shareholders in its existing Russia venture. DealBookIn Galleon Case, a Clash Over DefinitionsBy AZAM AHMEDThe former president of the Galleon Group, Richard Schutte, also said that Raj Rajaratnam's Intel trade could be explained by news about a rival, A.M.D. |
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