Wednesday's Top Stories in 2 Minutes

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Here at the Fool, we've searched high and low across the Web this Wednesday morning to find the biggest news and best stories around. Here are your top five morning reads.

1. Earnings roundup
Here's a quick rundown of companies reporting earnings yesterday and this morning.

• Boeing's (NYSE: BA) woes continued. The company posted a larger-than-expected $1.6 billion loss and cut profit forecasts for 2009. (Read more at The New York Times.)
• Banks were also in focus this morning. Both Wells Fargo (NYSE: WFC) and Morgan Stanley (NYSE: MS) beat expectations. However, don't expect big moves in either stock today. Wells is slightly down after the report, and Morgan Stanley has edged a bit higher. (Read more at MarketWatch and Reuters.)
• Yahoo! (Nasdaq: YHOO) is back in (solid) black. Last night the Internet portal reported stronger-than-expected results and further boosted hopes that Internet advertising may have stabilized. (Read more at BusinessWeek.) 

2. Brazil acting badly
Just days after Brazil's president said his country wasn't preparing a tax on foreign investments, financial authorities announced just that. The country aims to soften an influx of investment that's led to an 80% rise in its main index this year. (Read more at The Wall Street Journal.) 

3. AT&T (NYSE: T) and Time Warner Cable (NYSE: TWC) closing the trough?
Large telecoms are looking to revive "pay-per-use" pricing models on Internet plans. In a bit of irony, the carriers are citing net neutrality rules aimed at providing equal Internet access to consumers as a reason for having to switch away from unlimited plans. (Read more at The Wall Street Journal.)

4. A recession tale that brings tears to your eyes
In the hubbub over swelling unemployment and massive stock market losses, we've bypassed the recession's biggest victims: pro sports owners who've had to put their teams up for sale to raise cash. (Read more at MSN Money.)

5. Hey China, pass the steroids.
After stimulus-induced "growth on steroids," China needs to figure out a way to keep the economy growing robustly while cutting down the amount of money being pumped into its economy. (Read more at Bloomberg.)

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