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    Business Headlines
    U.S. regulators check Fannie, Freddie books: report (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 - Bank examiners from the U.S. Federal Reserve and the Comptroller of the Currency are inspecting the books of mortgage finance companies, Fannie Mae and Freddie Mac , The New York Times reported on Tuesday.


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    Tue, 22 Jul 2008 06:53:08 GMT - Yahoo! News: Business
    Stocks slip on oil, drugs; Apple, Amex drop late (Reuters)

    In this April 3, 2008 file photo, a worker replaces letters on the American Express sign at the financial services company world headquarters building in New York. Credit card lender American Express says its second-quarter profit tumbled 38 percent, below Wall Street's expectations, Monday, July 21, 2008, as it set aside an additional $374 million in credit reserves.  (AP Photo/Mark Lennihan, file)Reuters - Stocks slipped on Monday, as oil turned higher after last week's sharp drop and Merck and Schering-Plough hurt the pharmaceuticals sector.


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    Mon, 21 Jul 2008 21:43:29 GMT - Yahoo! News: Business
    American Express profit falls as credit losses rise (Reuters)
    Reuters - American Express Co , a credit card issuer and processing network, reported a steeper-than-expected 38 percent drop in quarterly profit as it set aside more money to cover credit losses and its shares fell sharply after hours. -- read full article
    Mon, 21 Jul 2008 23:47:18 GMT - Yahoo! News: Business
    Apple outlook well below Wall Street view (Reuters)

    A model shows a new iPhone during its launch and sale in Hong Kong on July 11. The computer giant has reported its third-quarter profits topped a billion dollars on strong sales of its computers, iPods, and iPhones(AFP/File/Andrew Ross)Reuters - Apple Inc said on Monday its current-quarter earnings would be well below Wall Street targets, sending shares of the iPhone, iPod and Macintosh maker down 10 percent.


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    Tue, 22 Jul 2008 01:49:18 GMT - Yahoo! News: Business
    European markets dip as HBOS rights issue disappoints (AFP)

    A stock trader observes the developments in the stock market in Frankfurt, March 2008. Europe's main stock markets fell when the financial services sector was dampened by news of a disappointing rights issue from British home loan provider HBOS.(AFP/DDP/File/Thomas Lohnes)AFP - Europe's main stock markets fell on Monday when the financial services sector was dampened by news of a disappointing rights issue from British home loan provider HBOS, dealers said.


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    Mon, 21 Jul 2008 10:50:45 GMT - Yahoo! News: Business
    Futures point to weak Wall St. start; results eyed (Reuters)

    Traders work on the floor of the New York Stock Exchange July 11, 2008 in New York City. A newly revived Wall Street faces a fresh test of momentum in the coming week with a wave of corporate results that may indicate whether the latest rebound is for real.(AFP/Getty Images/File/Mario Tama)Reuters - (REUTERS) U.S. index futures point to a weak start on Wall Street. Futures for the S&P 500, for the Dow Jones industrial average and Nasdaq are down 0.3 percent.


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    Mon, 21 Jul 2008 09:39:58 GMT - Yahoo! News: Business
    Unemployment, stocks push down leading indicators (AP)
    AP - Factories laying off workers, stocks tumbling and shoppers ditching their credit cards forced the economy to contract in June, a trend likely to continue in the second half of 2008, a private business group said Monday. -- read full article
    Mon, 21 Jul 2008 17:53:07 GMT - Yahoo! News: Business
    Former SEC head wants broader short-selling rules (Reuters)

    The sun lights the exterior of the New York Stock Exchange, as people walk past on the shadowed street, July 16, 2008.  REUTERS/Chip East  (UNITED STATES)Reuters - Emergency action by regulators to rein in abusive short-selling in some large financial firms should be expanded to include the stocks of all public companies, a former top markets watchdog said on Monday.


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    Mon, 21 Jul 2008 15:43:45 GMT - Yahoo! News: Business
    Vytorin fails to meet main goal of heart study (Reuters)
    Reuters - The cholesterol fighter Vytorin sold by Merck & Co Inc and Schering-Plough Corp failed to meet the main goal of improving cardiovascular outcomes in a closely-watched heart study. -- read full article
    Mon, 21 Jul 2008 18:21:08 GMT - Yahoo! News: Business
    CORRECTED: Drug stocks' slide offsets banks (Reuters)

    Traders work on the floor of the New York Stock Exchange July 11, 2008 in New York City. A newly revived Wall Street faces a fresh test of momentum in the coming week with a wave of corporate results that may indicate whether the latest rebound is for real.(AFP/Getty Images/File/Mario Tama)Reuters - Stocks were little changed on Monday as a slide in pharmaceutical shares offset gains by financial shares after Bank of America became the latest big U.S. bank to beat profit expectations.


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    Mon, 21 Jul 2008 18:45:50 GMT - Yahoo! News: Business
    Roche seen likely to raise bid for Genentech (Reuters)
    Reuters - Roche Holding AG may need to raise its $43.7 billion bid for the Genentech Inc stock that it does not already own, but an eventual deal is likely, analysts and investors said on Monday. -- read full article
    Mon, 21 Jul 2008 18:05:34 GMT - Yahoo! News: Business
    Yahoo and Icahn settle, Microsoft deal seen adrift (Reuters)

    In this April 26, 2006 file photo, Jonathan Miller, former chairman and CEO of AOL, speaks during a panel discussion at the Milken Institute Global Conference, in Beverly Hills, Calif. Miller on Monday, July 21, 2008 was added to a list of candidates to fill one of two open seats on Yahoo Inc.'s board.  (AP Photo/Damian Dovarganes, file)Reuters - Yahoo Inc will appoint activist investor Carl Icahn and two of his nominees to its board, defusing a proxy battle showdown and making an immediate deal with Microsoft Corp less likely.


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    Mon, 21 Jul 2008 18:13:56 GMT - Yahoo! News: Business
    Australia's Flight Centre sees 40% profit growth (Reuters)
    Reuters - Australian travel retailer Flight Centre Ltd confirmed its full-year pretax profit will jump about 40 percent, in line with its previous forecast, boosted by healthy global sales, and forecast further growth in 2009. -- read full article
    Mon, 21 Jul 2008 00:44:04 GMT - Yahoo! News: Business
    Economists: 2nd half growth likely to be anemic (AP)
    AP - Call it the big fizzle. The hoped-for second-half economic rebound is looking to be lethargic, with the country straining under high energy prices and fallout from the housing and credit debacles. -- read full article
    Mon, 21 Jul 2008 04:07:07 GMT - Yahoo! News: Business
    U.S. retailer Mervyn's fights for survival: WSJ (Reuters)
    Reuters - Department store chain Mervyn's LLC is fighting for survival after a lender pulled financing and some vendors stopped shipments, the Wall Street Journal reported on its website on Sunday. -- read full article
    Mon, 21 Jul 2008 02:03:29 GMT - Yahoo! News: Business
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