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    Business Headlines
    House passes housing bill; Bush lifts veto threat (Reuters)

    President Bush on Wednesday dropped a threat to veto a housing rescue bill, clearing the way for measures meant to shore up the worst U.S. home market since the Great Depression. (Paul Szep/Reuters)Reuters - The House of Representatives passed a massive housing rescue bill on Wednesday while the White House dropped a threat to veto it, paving the way for measures aimed at shoring up the worst U.S. housing market since the Great Depression.


    -- read full article
    Wed, 23 Jul 2008 21:30:17 GMT - Yahoo! News: Business
    Ethan Allen quarterly profit drops 46 percent (Reuters)
    Reuters - Furniture retailer Ethan Allen Interiors reported a 46 percent drop in quarterly profit on Wednesday, hurt by declining sales and charges to restructure and close some of its design centers. -- read full article
    Wed, 23 Jul 2008 12:07:55 GMT - Yahoo! News: Business
    Waiters pick up part of LongHorn's labor costs (AP)

    A Longhorn Steakhouse restaurant is seen Monday, July 21, 2008, in Hamilton, N.J.  After Darden Restaurants Inc. bought LongHorn for $1.19 billion in October, it instituted what it calls 'a more disciplined' tip-sharing plan — a policy servers say is cutting their earnings.  (AP Photo/Mel Evans)AP - With the cost of everything from air conditioning to whipped cream rising, many restaurants have been raising prices. LongHorn Steakhouse is passing on part of the tab to its servers.


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    Wed, 23 Jul 2008 18:39:33 GMT - Yahoo! News: Business
    Creditors say fraud possible in SemGroup collapse (Reuters)
    Reuters - A group of SemGroup LP creditors on Wednesday raised the prospect that unauthorized energy trading may have caused the $3.2 billion loss that sank the 12th-biggest privately held U.S. company. -- read full article
    Wed, 23 Jul 2008 17:26:47 GMT - Yahoo! News: Business
    Wall Street edges up as oil drops, financials gain (Reuters)

    People pass a Wachovia branch office on Tuesday, July 22, 2008 in New York. Wachovia Corp. reported a surprisingly large second-quarter loss Tuesday, deflating Wall Street's hopes that the nation's big banks are weathering the credit crisis well. The nation's fourth-largest bank by assets said it lost $8.86 billion. (AP Photo/Mark Lennihan)Reuters - Stocks rose on Wednesday as financial shares climbed on hopes lawmakers will approve the rescue plan for mortgage finance companies Fannie Mae and Freddie Mac and the price of oil fell.


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    Wed, 23 Jul 2008 18:40:05 GMT - Yahoo! News: Business
    Boeing's profit drops but it sticks to outlook (Reuters)

    Dinesh Keskar, senior vice president for sales, commercial airplanes Boeing Co, speaks during a news conference in Mumbai July 23, 2008. Boeing Co sees an uptick in demand for aircraft in India, despite a current downturn in the domestic aviation market on account of high fuel prices and overcapacity, a senior company official said on Wednesday. REUTERS/Arko Datta (INDIA)Reuters - Boeing Co reported a bigger-than-expected 19 percent drop in quarterly profit on Wednesday as it took a charge on a delayed military plane contract and suffered effects of its troubled 787 Dreamliner program.


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    Wed, 23 Jul 2008 16:36:25 GMT - Yahoo! News: Business
    Top drug companies' earnings beat forecasts (Reuters)
    Reuters - The world's two biggest drugmakers, Pfizer Inc and GlaxoSmithKline Plc , both beat expectations for quarterly earnings on Wednesday, as did Wyeth , indicating the sector's resilience. -- read full article
    Wed, 23 Jul 2008 13:59:49 GMT - Yahoo! News: Business
    Fed Beige Book: Price pressures elevated or rising (Reuters)

    In this July 16, 2008 file photo, Federal Reserve Chairman Ben Bernanke testifies before the House Financial Services Committee hearing on Capitol Hill in Washington. The chairman's financial disclosure form, released Monday, July 18, 2008, showed his holdings last year were in no-fills investments, including U.S. Treasury securities, Canadian Treasury bonds, mutual funds and annuities. (AP Photo/Susan Walsh, file)Reuters - The pace of U.S. economic activity slowed somewhat through mid-July and price pressures were elevated or increasing across the country, the U.S. Federal Reserve said on Wednesday in a report showing evidence of inflation warning signs across the country.


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    Wed, 23 Jul 2008 18:01:13 GMT - Yahoo! News: Business
    Investor's Quiz: Was Pullback To 10-Week Line Proper? (Investor's Business Daily)
    Investor's Business Daily - The company at this time was heavily traded and owned by dozens of mutual funds. -- read full article
    Tue, 22 Jul 2008 22:06:07 GMT - Yahoo! News: Business
    Moderate and lower earners under more pressure (Reuters)
    Reuters - The trouble that began last summer in the financial markets raised the likelihood of a U.S. recession, but for America's middle class, the downturn has been under way for many years, experts plan to tell a congressional panel on Wednesday. -- read full article
    Tue, 22 Jul 2008 23:56:23 GMT - Yahoo! News: Business
    Vote looms in Congress on housing rescue plan (Reuters)

    Graphic fact file on US housing finance giants Fannie Mae and Freddie Mac, which were put under Federal Reserve oversight and given bigger credit lines. US Treasury Secretary Henry Paulson warned Tuesday that more time will be needed to get past the current financial turmoil and called for better regulation to prevent a recurrence.(AFP Graphic/Martin Megino/Gal/Js)Reuters - A major rescue package for the U.S. housing market is scheduled to come to a vote in the House of Representatives on Wednesday, with lawmakers agreeing final language late on Tuesday and congressional analysts putting a $25-billion potential price tag on a new provision.


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    Wed, 23 Jul 2008 04:22:11 GMT - Yahoo! News: Business
    National City looking to sell unit: report (Reuters)
    Reuters - National City Corp is trying to sell its money-management unit, according to the Wall Street Journal's online edition. -- read full article
    Wed, 23 Jul 2008 03:32:52 GMT - Yahoo! News: Business
    Stocks rise as oil's drop trumps earnings (Reuters)

    People pass a Wachovia branch office on Tuesday, July 22, 2008 in New York. Wachovia Corp. reported a surprisingly large second-quarter loss Tuesday, deflating Wall Street's hopes that the nation's big banks are weathering the credit crisis well. The nation's fourth-largest bank by assets said it lost $8.86 billion. (AP Photo/Mark Lennihan)Reuters - Stocks rose more than 1 percent on Tuesday as oil prices slid over $3 a barrel, taking the edge off a raft of disappointing earnings from American Express and others as well as a weak outlook from iPod maker Apple.


    -- read full article
    Tue, 22 Jul 2008 21:26:50 GMT - Yahoo! News: Business
    Wachovia, other U.S. banks post dismal results (Reuters)
    Reuters - Wachovia Corp and Washington Mutual Inc led several large U.S. banks in posting weak second-quarter results on Tuesday, hurt by soaring losses from mortgages and other debt. -- read full article
    Tue, 22 Jul 2008 21:34:29 GMT - Yahoo! News: Business
    Yahoo profit down, outlook intact; CEO set to stay (Reuters)

    A laptop is seen under the logo of Yahoo at a trade fair in Dusseldorf. Struggling Internet pioneer Yahoo reported on Tuesday that its second-quarter profit slipped to 131 million dollars and called on investors to have faith in better times ahead.(DDP/AFP/File/Michael Gottschalk)Reuters - Yahoo Inc's net profit fell 19 percent but investors took heart that it did not change its outlook despite a weakening U.S. economy and the distraction of Microsoft Corp's failed takeover bid.


    -- read full article
    Wed, 23 Jul 2008 02:04:06 GMT - Yahoo! News: Business
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