Obama seeks corporate tax rate cut, loophole limit (AP)

AP - President Barack Obama rolled out a corporate tax overhaul plan Wednesday that lowers rates but also eliminates loopholes and subsidies cherished by the business world. A long-shot for action in an election year, the plan nevertheless stamps Obama's imprint on one of the most high-profile issues of the presidential campaign.

Home resales at 1-1/2 year-high, supply falls (Reuters)

Reuters - Home resales rose to a 1-1/2-year high in January, pushing the supply of properties on the market to the lowest level in almost seven years in a hopeful sign for the housing sector.

HP says 1Q earnings down 44 pct, beats Street (AP)

AP - Hewlett-Packard says its net income fell 44 percent in the most recent quarter as revenue dipped in the midst of an attempted turnaround under new leadership.

States may tap mortgage money to fill budget gaps (AP)

AP - The ink wasn't even dry on a settlement with the nation's top mortgage lenders when Missouri Gov. Jay Nixon laid claim to a chunk of the money to avert a huge budget cut for public colleges and universities.

Wall St closes lower on banks (Reuters)

Reuters - Banks led stocks lower on Wednesday as the S&P 500 stalled near a 10-month-high after signs of weak European business activity rekindled concerns about a recession overseas.

How gasoline demand is faring (AP)

AP - U.S. motorists have bought less gasoline every week for the past 48 weeks, according to a survey published Wednesday by MasterCard SpendingPulse. At the same time, prices have risen. Those trends should continue, say industry analysts.

Take Two: Can a Second Bailout Save Greece? (Time.com)

Time.com - After months of delays, arguments and doubts, euro zone finance ministers agreed on a second, $170 billion bailout of beleaguered Greece in the early hours of Tuesday morning

Romney proposes 28 percent top income tax rate (Reuters)

Reuters - Republican Mitt Romney, looking for a boost in his presidential campaign, proposed an overhaul of the tax system on Wednesday that he said would cut Americans' tax rates by 20 percent and limit deductions for the wealthy.

GM in alliance talks with Peugeot in Europe (AP)

AP - General Motors Co. is in talks about a possible alliance with France's leading car maker PSA Peugeot Citroen, a deal that could dwarf PSA's partnerships with BMW, Mitsubishi Motors and Toyota.

Greek lawmakers rush to clear promised austerity (AP)

AP - Greece scrambled Wednesday to push through a batch of emergency laws that will further cut incomes and state spending, a day after securing a new bailout and debt relief deal designed to stave off bankruptcy.

JPMorgan, Citi, BofA sued for $949 million by Sealink (Reuters)

Reuters - JPMorgan Chase & Co., Citigroup Inc., Bank of America Corp. and more than a half dozen other major banks are being hit with a new lawsuit over $949 million in residential mortgage-backed securities.

Citi, UBS provide keys to interest rate-rigging probe: sources (Reuters)

Reuters - Citigroup Inc and UBS AG , in a series of disclosures to law-enforcement officials, have provided crucial information to investigators in multiple countries as part of inquiries into whether the world's biggest banks manipulated a global benchmark interest rate, according to people familiar with the situation.

Fitch downgrades Greece on debt swap plan (Reuters)

Reuters - Fitch cut Greece's long-term ratings on Wednesday to its lowest rating above a default, becoming the first ratings agency to make the widely expected downgrade after the country announced a bond exchange plan to ease its massive debt burden.

Pace of new credit card accounts picks up in 2011 (AP)

AP - More people opened new credit card accounts last year, as the banking industry began to loosen standards it tightened during the recession.

Holiday spending pushes Macy's 4Q profit higher (AP)

AP - A strong holiday shopping season and hearty online sales pushed Macy's Inc.'s fourth quarter net income up 12 percent. That topped Wall Street's expectations, and the department store chain's stock hit a 52-week high.

World stocks rise on hopes for Greece, US economy (AP)

AP - Stock markets advanced Friday on hopes that Greece would soon get its crucial second bailout and following another batch of upbeat U.S. economic news.