Business News - Reuters

SAN FRANCISCO (Reuters) - Hewlett-Packard Co tripled the size of its share repurchase program to $12 billion as China sales and better profit margins on its services boosted quarterly earnings.

(Reuters) - The U.S. Federal Reserve this month asked nine banks that were part of "stress tests" conducted earlier this year to submit plans to repay money injected under the Troubled Asset Relief Program (TARP), Bloomberg said, citing a person familiar with the situation.

LOS ANGELES (Reuters) - Financier Carl Icahn has offered $156.5 million to acquire the partially built Fontainebleau Las Vegas resort, which has been stalled in bankruptcy court since June, according to the resort's chief operating officer.

WASHINGTON (Reuters) - Sales of previously owned U.S. homes jumped last month to their highest level in more than 2-1/2 years, but a fall in an economic gauge was a reminder that recovery from recession would be patchy.

(Reuters) - Kenneth Feinberg, the Obama administration's pay czar, is being pressed by federal officials to relax executive compensation restrictions at American International Group Inc for 2010, the Wall Street Journal reported, citing people familiar with the matter.

DUESSELDORF, Germany (Reuters) - General Motors will present labor leaders at European arm Opel a reorganization plan on Wednesday that envisions cutting nearly a fifth of the workforce, GM's acting European head said.

CHARLOTTE, North Carolina (Reuters) - As the economy shows signs of stabilizing, major retail brokers are increasingly comfortable with leaving the largest brokerage houses and setting out on their own, according to a company that provides services to the brokers.

NEW YORK (Reuters) - Lehman Brothers International (Europe), where more than $35 billion of hedge fund assets have been frozen since the bank's collapse last September, could return about $11 billion to fund managers by March if enough firms approve a new plan.

(Reuters) - Playboy Enterprises Inc will outsource most of the business operations of its namesake magazine in an effort to curb losses, the Wall Street Journal said on Tuesday.

CHICAGO (Reuters) - A trade group for the lenders that finance half the capital equipment investment in the United States said on Monday that U.S. businesses remain hesitant about borrowing to invest in their operations.

NEW YORK (Reuters) - U.S. stocks snapped a three-day losing streak on Monday as stronger-than-expected home sales data fueled optimism while a weaker dollar boosted commodity-linked stocks.

NEW YORK (Reuters) - Freddie Mac, the U.S. mortgage finance giant, said on Monday it is seeking $595 million in loan payments and other funds hung up after the bankruptcy of lender Taylor, Bean & Whitaker.

TOKYO (Reuters) - Gold eased on Tuesday as investors booked profits after prices hit record highs the day before, but sentiment was underpinned by a weak dollar which makes bullion cheaper for holders of other currencies and boosts its appeal as an alternative asset.

OXFORD, England (Reuters) - Twitter, the social internet firm that tracks trends through individuals' updates of events around them, may eventually go to the stock market for funding if necessary, its co-founder Biz Stone said.

LONDON (Reuters) - Speculation about a bid battle for Cadbury among Kraft Foods and other rivals lifted shares in the British confectioner to a new high on Monday but analysts doubt whether a competing bid will emerge.

NEW YORK (Reuters) - Inventor Judah Klausner filed suit against Motorola Inc and Research In Motion , alleging infringement of technology patents related to visual voicemail.

NEW YORK (Reuters) - Campbell Soup Co reported a higher-than-expected quarterly profit on Monday, helped by price increases and easing costs for ingredients including grains that offset a drop in sales.

BRUSSELS (Reuters) - General Motors will present a plan to European governments to save struggling carmaker Opel within days, a rescue set to cost 3.3 billion euros ($4.9 billion), those involved in talks said on Monday.

NEW YORK (Reuters) - The Federal Reserve Bank of Chicago said on Monday its gauge of the national economy fell further into negative territory in October, in a report that suggested the economic recovery could be in trouble.