Google seeks to speed up Web searches (Reuters)

Reuters - Google Inc unveiled a set of enhancements to its Internet search engine on Wednesday that predict search queries as users type, promising to speed up the time it takes to find information online and to generate more searches on the website.

Jackson Hewitt narrows 1Q loss as expenses fall (AP)

AP - Jackson Hewitt Tax Service Inc. on Wednesday posted a narrower first-quarter loss as its expenses fell, beating Wall Street expectations, but its shares fell after it said it would seek new financing for its refund anticipation loan program.

Obama firm: Don't extend tax breaks for wealthiest (AP)

AP - President Barack Obama strongly defended his opposition to extending Bush-era tax breaks for the wealthiest Americans on Wednesday and delivered a searing attack on Republicans and their House leader for advocating "the same philosophy that led to this mess in the first place."

Fed report shows widespread signs growth easing (Reuters)

Reuters - The economy has shown "widespread signs" of slowing over recent weeks, the Federal Reserve said on Wednesday in a report suggesting the recovery was faltering along the East Coast and in the Midwest.

Summary Box: Ireland to split Anglo Irish Bank (AP)

AP - SPLIT: Ireland plans to split its most troubled financial institution, Anglo Irish Bank, into a "good" deposit bank and a "bad" toxic-debt bank. The move comes as the nation seeks to reassure international lenders that it is dealing with the Irish debt crisis.

BP report blames itself, others for oil spill (AP)

AP - In an internal report released Wednesday, BP blames itself, other companies' workers and a complex series of failures for the massive Gulf of Mexico oil spill and the drilling rig explosion that preceded it.

Kia names new top executive after recalls (AP)

AP - KIA CEO: South Korean automaker Kia Motors named Lee Hyoung-keun to its top executive job Wednesday.

Freddie Mac to issue new 5-year note due 2015 (AP)

AP - Government sponsored mortgage buyer Freddie Mac said Wednesday it plans to issue new five-year notes due on Sept. 10, 2015.

Goldman NY proprietary traders consider next move (Reuters)

Reuters - Members of Goldman Sachs Group Inc's New York Principal Strategies team are in talks with several groups, including KKR, Perella Weinberg, BlackRock Inc and Carlyle Group, to possibly join one of the firms, a source familiar with the matter said.

BP blames contractors for U.S. oil spill (Reuters)

Reuters - A BP Plc investigation of the Gulf of Mexico disaster played down the company's role in the world's worst offshore oil spill, seeking to share the blame with its contractors.

S&P 500 rises 1 percent (Reuters)

Reuters - The Standard & Poor's 500 index rose more than 1 percent in afternoon trading on Wednesday, while the Dow and Nasdaq added to gains as worries about Europe's banking system decreased, easing risk aversion.

EU suspends WTO dumping sanction bid against US (AFP)

AFP - The European Union said Wednesday it had suspended a request at the World Trade Organization for the right to impose sanctions on Washington over a controversial US anti-dumping calculation.

Summary Box: Mortgage lending falls 1.5 pct (AP)

AP - MORTGAGE APPLICATIONS SLIP: Applications for home loans dipped last week as mortgage rates ticked up slightly from the lowest level in decades, according to the Mortgage Bankers Association.

Economists further scale back U.S. growth outlook (Reuters)

Reuters - Stubbornly high unemployment and signs of persistent weakness in the housing market have prompted economists to further cut their outlook for U.S. growth in the second half of the year, a Reuters poll showed on Wednesday.

Tight inventories hurt Talbots sales (Reuters)

Reuters - Women's clothing retailer Talbots Inc posted lower-than-expected quarterly sales and its shares fell 11.6 percent as efforts to keep inventory lean and preserve margins left it short of items to sell.

How the major stock indexes fared Tuesday (AP)

AP - Stocks closed lower Tuesday following new worries about Europe's debt problems. News reports said European banks may have more risky government debt on their books than was disclosed during "stress tests" earlier this year. That could mean fees from regulators and more capital-raising by the banks to bolster their balance sheets.

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. ...