Greek debt not sustainable with 70 percent haircut: S&P (Reuters)
Reuters - Greece will likely not achieve sustainable debt levels with a 70 percent reduction in the value of bonds held by its private creditors, Standard & Poor's warned on Wednesday, putting pressure on the official sector also to take losses.

ECB still split on joining Greece debt deal: sources (Reuters)
Reuters - European Central Bank policymakers are still divided on what contribution the ECB could make to a restructuring of Greece's sovereign debt, two euro zone monetary policy sources said on Wednesday.

Sprint loss widens on iPhone costs (Reuters)
Reuters - Sprint Nextel posted a wider quarterly loss, reflecting the higher costs of selling Apple Inc's iPhone. Plus its subscriber growth fell short of expectations, which sent the company's shares down 3.7 percent.

Deutsche Bank to defer some bonuses - source (Reuters)
Reuters - Germany's Deutsche Bank (DBKGn.DE) will defer any part of an employee's bonus above 200,000 euros ($264,800) this year, a source close to the bank said, making it the latest industry player to limit pay in the face of fierce criticism of the industry.

Stock gains turn hedge fund losers into winners (Reuters)
Reuters - Last year's hedge fund losers may be turning into winners again.

No cigar: Economic embargo on Cuba turns 50 (AP)

AP - When it started, American teenagers were doing "The Twist." The United States had yet to put a man into orbit around the Earth. And a first-class U.S. postage stamp cost 4 cents.

Avid shares surge on first profit in 4 years (Reuters)
Reuters - Shares of Avid Technology Inc jumped 25 percent to a six-month high after the maker of digital audio and video editing products reported a quarterly profit for the first time in four years.

Greek party leaders begin crucial debt talks (AP)
AP - After three days of delays, Greek coalition leaders began crucial debt talks Wednesday with the prime minister to review a draft deal on steep cutbacks demanded by creditors in return for a euro130 billion ($170 billion) bailout.

Coinstar's Spectacular Quarter Makes It Worth Your Dollars (The Motley Fool)
The Motley Fool - Automated retail solutions provider Coinstar (Nasdaq: CSTR - News) beat Street estimates handsomely in the fourth quarter, and saw its shares spike 13% in extended trading.

Frustration mounts as Greeks seek elusive bailout deal (Reuters)
Reuters - Greek party leaders finally gathered on Wednesday to agree a reform deal in return for a new EU/IMF rescue to avoid a chaotic default, after repeated delays which have prompted warnings that the euro can live without Athens.

Walmart names ex-Woolworths veteran as new China CEO (Reuters)
Reuters - Wal-Mart Stores Inc has named an industry veteran, but a relative newcomer to China, to run what is a strategically crucial business for the world's biggest retailer as it faces tougher competition in the fastest growing major economy.

Eyes on dissident states as mortgage deal nears (Reuters)
Reuters - A broad settlement with major banks over mortgage servicing abuses that would bring relief to distressed U.S. homeowners could be announced as early Thursday, two people familiar with the matter said.

Oil prices rise after US supply report (AP)

AP - Oil prices are higher Wednesday following government reports that U.S. supplies didn't grow as much as expected last week.

Greece's broken promises anger EU partners (Reuters)
Reuters - Taxes go uncollected, deficit targets are routinely missed, job cuts from the state payroll are postponed, privatizations have barely begun and pharmacies still shut in the middle of the day.

Nissan sees annual profits beating Toyota, Honda (Reuters)
Reuters - Nissan Motor Co is on track to be the most profitable of Japan's three big automakers this year, after record car sales last year and improved market share in every major region pushed up quarterly operating profit.