Nokia Betting on $20 Handset as It Loses Ground on IPhone

As Nokia Oyj struggles to catch Apple Inc. and Samsung Electronics Co. in the market for smartphones costing $500 or more, it’s counting on a bare-bones handset that sells for just $20 to give it an edge.
Read more: Bloomberg news

Gold Bears Defy Rally as Goldman Closes Short Wager: Commodities

Hedge funds accumulated their second-biggest bet against gold on record just as prices rallied the most in 15 months on surging demand for coins and jewelry and Goldman Sachs Group Inc. ended a recommendation to sell.
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Danes as Most-Indebted in World Resist Credit: Mortgages

Danes, the most indebted people in the world, are losing their appetite for credit.
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Bangladesh Speeds Hunt for Building Survivors as Hopes Fade

Bangladesh authorities said they were accelerating rescue efforts at the factory complex that collapsed last week as hopes fade for more survivors after the nation’s biggest industrial disaster.
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Baidu Valuation Cut in Half as Ad Sales Slide Dims Profit

Baidu Inc. is trading more than 50 percent below its average valuation over the past five years as the Chinese Internet company struggles to diversify while maintaining profit growth amid a slowdown in advertising.
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Boston Bombing Suspects Said to Plan Times Square Attack

The two brothers suspected in the deadly Boston Marathon bombings planned to drive to New York City after the April 15 attack and set off more explosives in Times Square, Mayor Michael R. Bloomberg said.
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Richest Man Slim Cited for Profiting From Phones for Poor

Congressional Republicans want to rein in a $2.2 billion U.S. mobile-phone subsidy for the poor, saying it’s riddled with fraud and benefits the world’s richest man, Mexican billionaire Carlos Slim.
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Japan Investment Banks Once Ugly Sisters Become Cinderellas

Investment banks are among the first and biggest beneficiaries of Japan’s new economic-stimulus policies, known as Abenomics.
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Amazon Beats Estimates as Digital Content Pays Off

Amazon.com Inc., the world’s largest online retailer, reported operating profit that beat analysts’ estimates as investments in digital content and warehouses attracted more shoppers.
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Gold Rout for Central Banks Buying Most Since 1964: Commodities

Central banks bought the most gold since 1964 last year just before the collapse in prices into a bear market underscored investors’ weakening faith in the world’s traditional store of value.
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Deutsche Telekom Secures U.S. Position With MetroPCS Deal

Deutsche Telekom AG got a chance to stage a comeback in the U.S. after MetroPCS Communications Inc. shareholders approved a sweetened deal to merge with the German company’s T-Mobile USA unit.
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Central Banks Load Up on Equities

Central banks, guardians of the world’s $11 trillion in foreign-exchange reserves, are buying stocks in record amounts as falling bond yields push even risk- averse investors toward equities.
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Li Ka-Shing Seen Winning Hong Kong Strike as Ships Go Faster

Billionaire Li Ka-shing moved to end a four-week strike at his docks in Hong Kong, hiring new workers to handle ships and demanding protesters leave his building in the city’s Central District.
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Boston Suspects Said to Learn Bomb-Making on Internet

Two brothers suspected in the deadly Boston Marathon bombings used remote controls from toy cars to set off the blasts that ripped through the race’s finish line, according to federal law-enforcement officials and members of Congress briefed on the matter.
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Netflix Seen Cracking Down on Sharing to Bolster Profit

Netflix Inc. has won over consumers and Hollywood with its mix of TV reruns, old movies and original shows, all for $7.99-a-month with liberal policies that let family and friends share one account.
Read more: Bloomberg news

Canada Police Make Two Arrests in Train Terrorist Plot

Canadian police arrested two foreign nationals in connection with a plan to derail a passenger train in the nation’s first suspected terror plot involving al-Qaeda.
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Japan’s Gree Founder Loses $2.6B on Mobile Gaming Miss

In five years, Yoshikazu Tanaka became Japan’s youngest billionaire as investors piled into Gree Inc., valuing his controlling stake in the early maker of phone- based games at $4 billion. Just 18 months later, that has shriveled to about $1.4 billion.
Read more: Bloomberg news

Paris Hit by Property Freeze as Taxes Deter Buyers

At least one in four Paris apartments listed by realtor Agence Etoile can’t be sold, even with mortgage rates at record lows, as buyers and sellers fail to agree on price, the company’s director said.
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Bomb Suspect Calm as Blast Ripped Apart Boston Marathon

Dzhokhar Tsarnaev stood for four minutes with a bomb-laden backpack at his feet and only glanced in the direction of the first explosion at the Boston Marathon.
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Bombing Motive Sought for Brothers Who Differed in Style

As investigators searched for a motive in the Boston Marathon bombings, the two brothers suspected in the attack emerged as markedly different personalities: the older moving closer toward Islamic fundamentalism, the younger socializing like a typical American college student.
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Hedge Fund Gold Wagers Defy Worst Slump in 33 Years: Commodities

Hedge funds increased bets on gold rallying after prices plunged the most in 33 years, underscoring billionaire John Paulson’s view that bullion will rebound.
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Dealers Say No End to QE in ’13; Hatzius Sees 2016 Rate Rise

Wall Street’s biggest bond dealers see little chance the Federal Reserve will slow the pace of debt purchases designed to boost economic growth before the fourth quarter, even as policy makers face calls to curb the buying.
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Obama Decision on Interrogating Suspect Draws Criticism

The Obama administration’s decision to interrogate the Boston Marathon bombing suspect without first warning him of his rights has sparked criticism from both sides of the political spectrum about the best way to prosecute terrorism cases.
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Apple Falls Below $400 as Supplier Reports IPhone Chip Glut

Apple Inc. dropped below $400 for the first time since December 2011 after one of its audio-chip suppliers, Cirrus Logic Inc., reported an inventory glut that suggests iPhone sales may fall short of analysts’ expectations.
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Bird Flu Fears Mount in China as Herbal Remedies Run Out

A popular herb called ban lan gen, or blue root, has been flying off pharmacy shelves across China as local governments encourage people to consider traditional remedies to ward off the latest bird flu virus.
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Initial Tests Show Ricin Poison in Letter to U.S. Senator

Postal workers intercepted a letter addressed to U.S. Senator Roger Wicker that preliminary tests showed contained poisonous ricin, with lawmakers learning of the incident while they were being briefed yesterday on the deadly bombings at the Boston Marathon.
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Forensic Investigators Discover Clues to Boston Bombing

The forensic investigation of the Boston Marathon bombing is developing a preliminary picture of how it was done, though not yet who might have done it.
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American Adds Flights to Curb Delays From U.S. Grounding

American Airlines will add flights as needed to accommodate passengers stranded when a computer malfunction forced the temporary grounding of its U.S. fleet.
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Intel’s Sale May Exceed Estimates on Demand for Server Chips

Intel Corp., the world’s largest semiconductor maker, forecast second-quarter sales that may exceed some analysts’ estimates as strong demand for server chips helps make up for a slump in the personal-computer market.
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Gold Bulls Endure Bear Market as Goldman Says Sell: Commodities

Hedge funds and other speculators added to bullish gold bets before the metal slumped into a bear market and Goldman Sachs Group Inc. warned the retreat is accelerating after the longest rally in nine decades.
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Commodities Tumble, Stocks Slide as China Growth Slows

Commodities fell to a nine-month low, led by gold and silver, and stocks slid as China’s economic growth unexpectedly slowed. The yen and dollar strengthened against most major peers and Treasuries were little changed.
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Neediest Homebuyers in U.S. Lifted by Japan: Mortgages

U.S. homebuyers are getting an unexpected boost from the Bank of Japan.
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World’s Best Burgers, Pizza, Sandwiches Picked in Awards

The hunt is on for the world’s finest burgers, pizzas and other everyday treats as the nominees are announced today for a new set of awards that honor humble foods rather than the peaks of gastronomy.
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Economy Bears Turn Bulls Seeing 3% U.S. GDP Few Saw in 2012

Bearish forecasts for the U.S. economy are giving way to more upbeat views of the nation’s ability to weather federal spending cuts and tax increases.
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N. Korea May Be Able to Make Nuclear Missiles, U.S. Says

The U.S. Defense Intelligence Agency has reported that North Korea now has some nuclear weapons small enough to be delivered by its ballistic missiles.
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Euro Falls Versus Dollar as Europe Finance Chiefs Meet in Dublin

The euro fell versus the dollar, paring a second weekly advance, as European finance ministers meet in Dublin to review the state of Cyprus’s rescue package and the easing of bailout-loan terms for Ireland and Portugal.
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N. Korea’s Retro Propaganda Calls U.S. Boiled Pumpkin

The former president of South Korea is a “rat,” Hillary Clinton is a “funny lady” who is “by no means intelligent” and the U.S. mainland is “similar to a boiled pumpkin.”
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Carnival Offers Motel 6 Price for Caribbean After Triumph

Carnival Corp. is offering a Caribbean cruise for as little as $38 a night, less than a stay at Motel 6, after an engine fire on the Triumph stranded passengers at sea for several days.
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Gates Helps Australia’s Richest Man in Bid to End Slavery

Microsoft Corp. founder Bill Gates, who has gifted $28 billion to his charitable foundation, gave some simple advice to Australia’s richest man Andrew Forrest on his crusade to end modern slavery: find a metric to quantify it.
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Hagel Calls on North Korea to Tone Down Rhetoric

U.S. Defense Secretary Chuck Hagel said North Korea has “been skating very close to a dangerous line” and should tone down its “bellicose rhetoric” to ease mounting tensions in the region.
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Wal-Mart Executive Who Described Sales ‘Disaster’ Leaves

The Wal-Mart Stores Inc. executive who called the retailer’s February sales a “total disaster” in an internal e-mail obtained and reported by Bloomberg News has left the company.
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Euro Rises to Six-Week High as Italian Borrowing Costs Decline

The euro rose to the strongest level in six weeks most versus the dollar as Italian and Spanish borrowing costs fell, indicating optimism that Europe’s debt crisis is abating.
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Singapore Downtown Mansion on Sale at Record $242 Million

Wing Tai Holdings Ltd. Chairman Cheng Wai Keung is seeking a record S$300 million ($242 million) for a home near Singapore’s Orchard Road shopping belt, betting that developers may profit from dividing the site.
Read more: Bloomberg news

J.C. Penney’s Post-Johnson Options Seen to Include Sale

J.C. Penney Co. made a radical break with tradition by hiring Silicon Valley wunderkind Ron Johnson as chief executive officer. With Johnson gone, the chain may have to pursue even more radical options, such as selling itself.
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Trust in Gold Not Bernanke as U.S. States Promote Bullion

Distrust of the Federal Reserve and concern that U.S. dollars may become worthless are fueling a push in more than a dozen states to recognize gold and silver coins as legal tender.
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Texting While Flying Linked to Commercial Crash in First

The pilot of an emergency medical helicopter flying over Missouri was sending and receiving text messages before a 2011 crash, the first time such distractions have been implicated in a fatal commercial aviation accident.
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Yen Strengthens From Four-Year Low Versus Dollar; Aussie Gains

The yen strengthened from the lowest level in almost four years against the dollar on speculation its 6.4 percent slump against the greenback in the past three days was too rapid.
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Alcoa Profit Beats Analysts’ Estimates on Aircraft Demand

Alcoa Inc., the largest U.S. aluminum producer, reported first-quarter earnings that exceeded analysts’ estimates as demand from airplane and car manufacturers increased.
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Virginia’s Contract-Fat Fairfax Digs In for Leaner Years

When Mobil Corp. quit midtown Manhattan for 130 green acres in Fairfax County, Virginia, its new neighbors included country stores, dairy farms and a highway that ringed the nation’s capital. Mobil brought hope that the suburb could break free of its Washington ties to build its own world-class economy.
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North Korea Warns U.S. It’s Authorized Nuclear Attack

North Korea stepped up threats against the U.S, authorizing its military to conduct a potential “smaller, lighter and diversified nuclear strike” while again restricting South Korean access to a joint industrial zone.
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Yen Tumbles Most in 17 Months as BOJ Doubles Stimulus

The yen tumbled by the most in 17 months against the dollar after the Bank of Japan announced larger-than-expected economic stimulus measures that tend to devalue the currency.
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Ex-Goldman Trader Admits to Hiding $8 Billion Position

Matthew Taylor, a former Goldman Sachs Group Inc. trader, pleaded guilty to concealing an unauthorized $8.3 billion trading position in 2007, causing the bank to lose $118 million.
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Black Hawks Near North Korea Show Risk in U.S. Command Shift

On orders from a U.S. instructor, Corporal Kim Jong Chan leaps out of a Black Hawk helicopter hovering near the world’s most fortified border. The South Korean soldier rappels 90 feet down, rehearsing for the day he may have to go behind North Korean lines in the event of a war.
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Wal-Mart Customers Complain Bare Shelves Are Widespread

More than 1,000 e-mailed complaints signal that Wal-Mart Stores Inc.’s restocking challenges are more widespread than the world’s largest retailer has said.
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U.K. Banks Try to Dodge Bonus Caps by Defining Risk-Taker

U.K. lenders are preparing to lobby the European Union’s chief banking regulator to reduce the number of employees hit by rules capping bonuses, two people familiar with the talks said.
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El Bulli Chef Drops 20 Kilos on Champagne Before Auction

Fans who mourned the closing of El Bulli in 2011 got a chance to buy a piece of its history at a Sotheby’s auction in Hong Kong today.
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Nokia Lacking Five-Inch Screen on Lumia Threatens Revival

As Nokia Oyj claws its way back into the smartphone market with its Lumia handsets, it risks missing the next big trend as consumers shift toward a category the Finnish company has neglected: big-screen handhelds.
Read more: Bloomberg news

Cyprus Seeks More Time to Meet Targets in Talks With Troika

Cyprus government officials are seeking easier bailout terms in talks with representatives of the European Union and International Monetary Fund today, before a meeting of euro-area finance officials later this week.
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Apple CEO Cook Apologizes for China IPhone Warranties

Apple Inc. Chief Executive Officer Tim Cook apologized for the company’s iPhone warranty and repair policies in China after receiving criticism from state-run media over customer service in its second-largest market.
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Raw-Material Bull Market Fading as Supply Expands: Commodities

At a time when U.S. equities are trading near a record and the dollar is having its best start in three years, commodities will finish this quarter little changed from where they were at the end of 2012.
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North Korean War Threats Spotlight Its Untested Dictator

Threats of conflict coming from North Korea have increased international scrutiny of untested young dictator Kim Jong Un, as the isolated nation announced today that it will restart a facility capable of expanding the regime’s nuclear arsenal.
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Euro Falls to 5-Week Low Versus Yen Amid Slowdown; Krona Climbs

The euro fell to a five-week low against the yen as a report showed unemployment in the 17-nation currency bloc climbed to a record in February, adding to concern the economy will struggle to emerge from recession.
Read more: Bloomberg news