AP - Japan's economy showed more signs of deterioration as government data revealed Tuesday that the unemployment rate inched up and consumers tightened their purse strings amid rising food and oil prices.
Reuters - Stocks tumbled on Monday as fear of
more credit and housing market turmoil battered financial
shares and a mixed bag of quarterly results added to
uncertainty the outlook for corporate profits.
Reuters - Hartford Financial Services Group
Inc's earnings fell in the second quarter, hurt by a
surge in claims from tornado damage and lower investment
returns, but the results still beat Wall Street expectations. -- read full article
Tue, 29 Jul 2008 00:49:37 GMT - Yahoo! News: Business
Reuters - Kohlberg Kravis Roberts & Co's
plan to become publicly traded by acquiring its
struggling European affiliate signals that the buyout boom may
flounder longer and force the private equity firm to focus on
other businesses.
Reuters - Merrill Lynch & Co said on
Monday it will take a $5.7 billion third-quarter write-down as
it unloads huge amounts of risky debt, and will raise $8.5
billion by selling new stock.
Reuters - The Treasury and the nation's four
biggest banks on Monday said they will kick-start a market for
an investment product to support home financing in the latest
effort to spur a slumping housing market.
AP - Bankrupt retailer Linens 'n Things on Monday offered a sign that business may be improving slightly, saying it will close fewer stores than originally anticipated. -- read full article
Mon, 28 Jul 2008 17:08:08 GMT - Yahoo! News: Business
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.
