AP - Franca Tantillo puts rising fuel prices in the same category as the springtime hail storm that wiped out part of her strawberry crop. Both cut into the profit she can make at the farmers markets she sells at in New York City, about 135 miles south of her farm.
Reuters - Wall Street earnings are "unlikely" to
recover in the second half of this year meaning New York City's
fiscal deficits could soar above the mayor's forecasts, the
state comptroller warned on Monday.
Reuters - Merrill Lynch shares dropped
nearly 10 percent on Monday, leading the entire sector lower as
investors fretted over credit quality and the housing sector.
Reuters - Stocks fell on Monday as fears of more
credit losses pushed financial shares lower while a mixed bag
of quarterly results kept investors cautious about the outlook
for the economy.
Reuters - Kraft Foods Inc posted
higher-than-expected quarterly profit on Monday as price
increases and gains on hedging positions offset rising costs
for energy and commodities like wheat.
Reuters - U.S. Treasury Secretary Henry
Paulson said the nation's four biggest banks were ready to
kick-start a market for covered bonds that could help
significantly expand home mortgage financing.
Reuters - Stocks rose on Friday as a drop in oil
prices, and stronger-than-expected data on consumer sentiment
and housing blunted the latest concerns about the health of U.S
banks.
AFP - Democratic White House contender Barack Obama was to shift the focus of his campaign on the troubled US economy Monday, after basking in the adulation of foreign crowds during last week's trip.
Reuters - Inflation is a concern in the United
States and headwinds to economic growth may be picking up,
Minneapolis Fed President Gary Stern said in a newspaper
interview published on Monday. -- read full article
Mon, 28 Jul 2008 07:16:43 GMT - Yahoo! News: Business
Reuters - U.S. retail gasoline prices fell
sharply in the last two weeks, just below $4 a gallon, in line
with retreating crude oil markets, and prices at the pump may
slide further, an industry analyst said on Sunday.
Reuters - World stocks slipped on Monday as some
disappointing earnings in Europe and a survey showing German
consumer morale at a 5-year low followed a warning that the
United States' major mortgage lenders could lose their top
credit rating.
Reuters - Qantas Airways Ltd said on
Monday Alan Joyce will take over as chief executive, taking the
baton from Geoff Dixon who steps down after a string of belt
tightenings as world airlines battle soaring fuel bills.
Reuters - Kohlberg Kravis Roberts & Co ,
one of the world's most powerful private equity firms, plans to
brave the turbulent equity markets and list on the New York
Stock Exchange this year, joining rival Blackstone in bringing
the famously secretive industry into public view.