BP shifts U.S. oil spill blame onto contractors (Reuters)

Reuters - BP shifted much of the blame for a rig blast that led to the United States' worst-ever oil spill onto its contractors Transocean and Halliburton.

AP - Shares in BP PLC tracked slightly higher after the release of an internal report on the disastrous oil spill in the Gulf of Mexico that deflects much of the blame onto rig owner Transocean Ltd. and contractor Halliburton Co.

Obama pitches road spending, tax incentives in Ohio (Reuters)

Reuters - President Barack Obama will push billions of dollars in new business tax incentives and spending on big construction projects on Wednesday, as he tries to convince a balky Congress to pass measures intended to spur the economy and create jobs.

Smithfield reports 1st-quarter profit (AP)

AP - Smithfield Foods Inc. says higher selling prices for pork and improvement in hog market prices helped it return to a profit in its fiscal first-quarter.

Stock futures track Europe stocks up (Reuters)

Reuters - Stock index futures rose on Wednesday tracking a turnaround in European stocks and ahead of comments from the Federal Reserve on the state of the economy.

Talbots profit tops estimates, but sales miss (Reuters)

Reuters - Women's clothing retailer Talbots Inc posted a higher-than-expected quarterly profit as tighter inventory management boosted its margins, but its shares fell as sales missed Wall Street forecasts.

HSBC faces thorny issues in hunt for new chairman (Reuters)

Reuters - For a bank that prides itself on smooth successions, HSBC is suddenly scrambling to pick its next chairman.

Jackson Hewitt loss narrower than expected (Reuters)

Reuters - No. 2 U.S. tax-preparer Jackson Hewitt Tax Service Inc posted a narrower-than-expected quarterly loss, as a drop in total expenses offset the decline in revenue.

Swisscom to delist troubled Italian unit Fastweb (AP)

AP - Swisscom AG announced Wednesday it will buy all outstanding shares in its Italian telecoms unit Fastweb SpA, which has been rocked by a money-laundering probe, for a total of euro256 million ($326 million).

Foster's knocks back $2.5 billion offer for wine (Reuters)

Reuters - Foster's Group Ltd , Australia's largest brewer, rejected a private equity offer worth up to $2.5 billion for its wine business as too cheap, sending its shares up as much as 6 percent on hopes of higher bids.

US provides relief for floods in Guatemala (AFP)

AFP - The United States said Tuesday it has requested 50,000 dollars in emergency aid for flood-hit Guatemala and reprogrammed another 4.38 million dollars in economic aid for recovery efforts.

Gov't launches plan to help "underwater" borrowers (AP)

AP - The Obama administration is trying to jump-start its sputtering attempts to tackle the foreclosure crisis with an effort to assist homeowners who owe more on their properties than their homes are worth.

Post-holiday pump prices should slide (AP)

AP - Motorists should see pump prices slide again after spending a little more to fill their tanks over the Labor Day weekend.

Summary Box: Worried investors turn to gold (AP)

AP - SEEKING SAFETY: Gold settled at a record high Tuesday as more worries resurfaced about European banks and the global economy.

Bullish or Bearish? The World's Greatest Investors Debate. (The Motley Fool)

The Motley Fool - The bears and bulls were battling as ferociously as ever over the past month. Let's dive right into the debate, through the words of some of the world's greatest investors.

FTSE 100 closes lower (AFP)

AFP - London shares declined on Tuesday with weaknesses in the US market taking effect as Wall Street traders returned from a long holiday weekend.

The Treasury's New Research Office (BusinessWeek)

BusinessWeek - Don't expect an Elizabeth Warren-style campaign for the first director of the Office of Financial Research, yet another agency set up under the financial system overhaul. Unlike the pending decision over who will lead the Consumer Financial Protection Bureau, which has prompted online petitions and a viral rap video in support of the Harvard law professor, the competition over who will be the head of the research office is a wonks-only affair. ...