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    Business Headlines
    Treasury prices fall as stock market rebounds (AP)
    AP - Treasury prices fell Wednesday as a drop in oil prices and better-than-expected results from Wells Fargo & Co. drew investors back into the pummeled stock market. -- read full article
    Wed, 16 Jul 2008 21:33:42 GMT - Yahoo! News: Business
    Fannie Mae, Freddie Mac shares jump again (Reuters)

    This May 2, 2007 file photo shows the Fannie Mae building in Washington. For years, mortgage giants Fannie Mae and Freddie Mac tenaciously worked to nurture, and then protect, their financial empires by invoking the political sacred cow of homeownership and fielding an army of lobbyists, power brokers and political contributors. Now, new attention is being focused on the bruised mortgage companies as the Bush administration presses its rescue plan to Congress. (AP Photo/Manuel Balce Ceneta, File)Reuters - Investors snapped up shares of Freddie Mac and Fannie Mae for a second day on Thursday after Freddie pulled off its second successful debt sale following Sunday's announcement of a U.S. rescue plan for the two housing finance companies.


    -- read full article
    Thu, 17 Jul 2008 16:32:58 GMT - Yahoo! News: Business
    UBS to stop offshore banking for U.S. residents (Reuters)
    Reuters - Swiss bank UBS AG will discontinue offshore banking and securities services to U.S. residents through its branches, a UBS executive said on Thursday at a congressional hearing on offshore tax havens. -- read full article
    Thu, 17 Jul 2008 17:08:51 GMT - Yahoo! News: Business
    Oil's price drop, JPMorgan profit boost stocks (Reuters)

    Lehman Brothers trader Scott Mazzella, center, confers with other traders as they gather around his station during early trading at the New York Stock Exchange, Thursday, July17, 2008. Wall Street extended its rally into a second session Thursday after stronger-than-expected quarterly reports from JPMorgan Chase & Co. and United Technologies Corp. gave investors some reassurance about the health of the economy. (AP Photos/Bebeto Matthews)Reuters - Stocks climbed more than 1 percent on Thursday as oil prices dropped sharply for the third day, while banks rallied after stronger-than-expected results from JPMorgan Chase & Co.


    -- read full article
    Thu, 17 Jul 2008 18:24:32 GMT - Yahoo! News: Business
    JPMorgan beats forecasts, warns on mortgages (Reuters)
    Reuters - JPMorgan Chase & Co posted a smaller-than-expected drop in earnings on resilient stock and bond underwriting revenue, sending its shares surging, but the company cautioned that the mortgage market and the economy are getting worse. -- read full article
    Thu, 17 Jul 2008 17:53:51 GMT - Yahoo! News: Business
    Home starts still weak despite surprising jump (Reuters)
    Reuters - Housing starts took a surprising jump in June, the government reported on Thursday, but only because of a change in New York's building code that briefly obscured a drop in single-family home building. -- read full article
    Thu, 17 Jul 2008 16:21:18 GMT - Yahoo! News: Business
    Wal-Mart highlights locally grown program in Okla. (AP)

    In this June 5, 2008 file photo, a customer checks out at Wal-Mart Store in Rogers, Arkansas, on Thursday, June 5, 2008. The Labor Department on Wednesday, July 16, 2008 reported that consumer prices jumped 1.1 percent last month, much worse than had been expected. Energy prices rocketed upward by 6.6 percent, reflecting big gains for gasoline, home heating oil and natural gas. (AP Photo/April L. Brown, file)AP - Wal-Mart, the nation's largest retailer, has pledged to buy more produce from local farmers as it kicked off a campaign to highlight the fruits and vegetables grown in Oklahoma and sold in its stores.


    -- read full article
    Thu, 17 Jul 2008 08:02:33 GMT - Yahoo! News: Business
    Economy - Tuesday (Investor's Business Daily)
    Investor's Business Daily - As interest rates continue to fall, an index of home loan demand increased to 522.2 for the week ended July 11, up from 513.4 a week earlier, according to the Mortgage Bankers Association. Refinancing activity grew 6.9%, but applications for loans to buy a home dipped 1.7%. The average 30-year fixed mortgage rate fell to 6.22%. -- read full article
    Wed, 16 Jul 2008 22:51:03 GMT - Yahoo! News: Business
    Global stocks shake with stress from US financial crisis (AFP)

    A Chinese investor reacts in front of a share prices board at a private securities firm in Shanghai in February 2008. World stock markets struggled after sharp losses driven by the unfolding US financial crisis and before more testimony from US Federal Reserve chief Ben Bernanke.(AFP/File/MARK RALSTON)AFP - World stock markets reeled again on Wednesday on uncertainty over the unfolding US financial crisis and the prospect of more gloomy comment from US Federal Reserve chief Ben Bernanke.


    -- read full article
    Wed, 16 Jul 2008 11:23:34 GMT - Yahoo! News: Business
    China's economy slows but still expands at double-digit pace (AFP)

    Containers unload cargo from a ship in Tianjin port, China in late June. China's economic juggernaut has slowed down but the country still maintained double-digit growth in the first half of the year as it battled inflation and absorbed global setbacks, official data has shown(AFP/File/Frederic J. Brown)AFP - China's economic juggernaut slowed but still maintained double-digit growth in the first half of the year as it battled inflation and absorbed global setbacks, official data showed Thursday.


    -- read full article
    Thu, 17 Jul 2008 06:38:41 GMT - Yahoo! News: Business
    Merrill to sell Bloomberg stake for $4.5bln: source (Reuters)
    Reuters - Merrill Lynch & Co Inc has agreed to sell its 20 percent stake in Bloomberg LP back to the news and financial data company for about $4.5 billion, a source familiar with the situation said on Wednesday. -- read full article
    Wed, 16 Jul 2008 22:15:35 GMT - Yahoo! News: Business
    Oil steadies after dip on demand (Reuters)

    File photo shows workers constructing a billion-dollar gas pipeline in southeastern Myanmar. US lawmakers have dropped plans to impose sanctions that would have pressured US energy giant Chevron to pull out from a gas project in the military-ruled state(AFP/File/Michele Cooper)Reuters - Oil prices steadied on Thursday, after sharp losses on swelling stocks and fading demand in the United States and after a fresh diplomatic initiative from Washington over Iran.


    -- read full article
    Thu, 17 Jul 2008 08:17:41 GMT - Yahoo! News: Business
    Inflation soars; home builder sentiment crumbles (Reuters)
    Reuters - Inflation accelerated in June to its fastest rate since the aftermath of Hurricane Katrina in 2005 while workers' earnings slumped, compounding the stagflationary dilemma facing the Federal Reserve. -- read full article
    Wed, 16 Jul 2008 20:38:52 GMT - Yahoo! News: Business
    FBI probing IndyMac for possible fraud: authorities (Reuters)
    Reuters - Failed bank IndyMac is under investigation by the FBI for possible fraud involving its mortgage lending, unnamed law enforcement officials said on Wednesday. -- read full article
    Thu, 17 Jul 2008 02:20:25 GMT - Yahoo! News: Business
    Wall St. soars on banks' best day in 16 years (Reuters)

    A trader reacts in the S&P 500 pit at the Chicago Mercantile Exchange July 16, 2008. REUTERS/John Gress (UNITED STATES)Reuters - Stocks rallied more than 2 percent on Wednesday, powered by the best day for banks in 16 years as unexpectedly strong results from Wells Fargo & Co relieved worry about a credit crisis spiraling out of control.


    -- read full article
    Wed, 16 Jul 2008 21:43:15 GMT - Yahoo! News: Business
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