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Wall Street up after Alcoa earnings news

NEW YORK - Stocks rose on Wednesday as Alcoa's better-than-expected revenue and a positive outlook boosted investor confidence ahead of an earnings season expected to show lackluster results. | Video

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Google drops key patent claims against Microsoft

WASHINGTON - Google unit Motorola Mobility has asked a trade panel to drop two key patents from an infringement complaint that it filed against Microsoft, according to a filing at the International Trade Commission.

VW seeks full control over German truck maker MAN

FRANKFURT - Volkswagen's moved to tighten its grip over MAN on Wednesday, saying it wished to take full control over the Munich-based truck maker.

1:50pm EST

Morgan Stanley to cut 6 percent of securities unit staff: sources

- Morgan Stanley plans to cut 6 percent of its institutional securities staff starting this week, two people familiar with the matter said on Wednesday, the latest sign of a pullback on Wall Street as revenue from trading and deal-making remains in the doldrums.

12:09pm EST

Swiss bank UBS battles against culture of arrogance

LONDON/ZURICH - Switzerland's UBS has yet to purge itself fully of the culture of arrogance that put it at the centre of a global interest rate scandal, its investment banking chief said on Wednesday. | Video

1:04pm EST

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