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    Business Headlines
    Volatility looms as eyes on profits, Fed, oil (Reuters)

    Traders work on the floor of the New York Stock Exchange, July 29, 2008. (Brendan McDermid/Reuters)Reuters - Wall Street could be in for more volatility next week as investors brace for a new batch of key earnings reports and the U.S. Federal Reserve's assessment of the economy.


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    Fri, 01 Aug 2008 21:21:09 GMT - Yahoo! News: Business
    Citigroup to be charged by Cuomo, faces SEC probe (Reuters)

    Pedestrians walk past a Citibank branch in San Francisco, California June 23, 2008. (Robert Galbraith/Reuters)Reuters - New York Attorney General Andrew Cuomo plans to imminently charge Citigroup Inc , accusing it of fraudulently marketing and selling auction-rate securities, and destroying documents that had been subpoenaed.


    -- read full article
    Sat, 02 Aug 2008 00:27:16 GMT - Yahoo! News: Business
    Yahoo board wins solid shareholder backing in vote (Reuters)

    Yahoo investor Patrick Sheridan is interviewed as he arrives for the annual Yahoo shareholders meeting in San Jose, California August 1, 2008. (Robert Galbraith/Reuters)Reuters - Yahoo Inc's board of directors won strong backing from shareholders at its annual meeting on Friday, with Jerry Yang, the company's embattled CEO, receiving 85 percent of the vote in his favor.


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    Sat, 02 Aug 2008 00:40:44 GMT - Yahoo! News: Business
    Small Florida bank is 8th U.S. failure this year (Reuters)
    Reuters - Bank regulators closed a small Florida-based bank on Friday, the eighth U.S. bank to fail this year under pressure from a weak economy and a credit crisis precipitated by falling home prices. -- read full article
    Sat, 02 Aug 2008 01:51:55 GMT - Yahoo! News: Business
    Wal-Mart denies that it told employees how to vote (AP)

    A sign for a Wal-Mart store is seen in Rogers, Arkansas June 5, 2008. (Jessica Rinaldi/Reuters)AP - Wal-Mart Stores Inc., the world's largest retailer, denied a report Friday that it had pressured employees to vote against Democrats in November because of worries that a bill the party supports would make it easier for workers to unionize.


    -- read full article
    Fri, 01 Aug 2008 18:11:47 GMT - Yahoo! News: Business
    Jobless rate rises to 4-year high of 5.7 percent (AP)

    A jobseeker rests during an employment test at the employment training facility, JobTrain, in Menlo Park, Calif., Wednesday, July 30, 2008.  The nation's unemployment rate climbed to a four-year high of 5.7 percent in July as employers cut 51,000 jobs, dashing the hopes of an influx of young people looking for summer work.  (AP Photo/Paul Sakuma)AP - The nation's unemployment rate climbed to a four-year high of 5.7 percent in July as employers cut 51,000 jobs, dashing the hopes of an influx of young people looking for summer work.


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    Fri, 01 Aug 2008 17:29:45 GMT - Yahoo! News: Business
    Citigroup discloses formal SEC probe (Reuters)

    Pedestrians walk past a Citibank branch in San Francisco, California June 23, 2008. (Robert Galbraith/Reuters)Reuters - Citigroup Inc said on Friday the U.S. Securities and Exchange Commission has opened a formal probe into possible violations of federal securities laws in connection with the sale of auction-rate securities.


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    Fri, 01 Aug 2008 16:24:38 GMT - Yahoo! News: Business
    Jobless rate highest in 4 years (Reuters)

    A line of job seekers stretches out of a hotel doorway as they wait to enter a Monster.com job fair in Los Angeles, California July 23, 2008. (Fred Prouser/Reuters)Reuters - The U.S. unemployment rate hit its highest level in four years during July as employers cut jobs for a seventh straight month, though less severely than predicted, a Labor Department report showed on Friday.


    -- read full article
    Fri, 01 Aug 2008 16:05:28 GMT - Yahoo! News: Business
    Wall Street wobbles on oil, GM, jobs data (Reuters)

    Trading specialists work on the floor at the New York Stock Exchange, July 16, 2008. (Chip East/Reuters)Reuters - Stocks fell on Friday as a rise in oil prices and a hefty quarterly loss from General Motors stoked fear that the economy is slouching toward recession and soured the outlook for corporate earnings.


    -- read full article
    Fri, 01 Aug 2008 18:27:45 GMT - Yahoo! News: Business
    GM posts $15.5 billion loss as sales sputter (Reuters)

    General Motors Corp. headquarters is seen in Detroit July 29, 2008. (Rebecca Cook/Reuters)Reuters - General Motors Corp reported a $15.5 billion quarterly loss on Friday as North American sales dropped by 20 percent and resale prices for SUVs coming off lease plunged.


    -- read full article
    Fri, 01 Aug 2008 17:20:44 GMT - Yahoo! News: Business
    Yahoo Chairman says Microsoft never made a compelling offer (Reuters)

    The headquarters of Yahoo Inc. is shown in Sunnyvale, California May 5, 2008. (Robert Galbraith/Reuters)Reuters - Yahoo Inc Chairman Roy Bostock says there was never any doubt about the position of Yahoo board about its openness to doing a deal with Microsoft.


    -- read full article
    Fri, 01 Aug 2008 18:01:51 GMT - Yahoo! News: Business
    German retail sales fall by 1.4 percent in June: Destatis (AFP)

    A woman buys a German flag in Duisburg. German retail sales fell by 1.4 percent in June from the previous month, provisional figures released on Friday by the national statistics office showed, confirming a slump in household consumption(DDP/AFP/File/Volker Hartmann)AFP - German retail sales fell by 1.4 percent in June from the previous month, provisional figures released on Friday by the national statistics office showed, confirming a slump in household consumption.


    -- read full article
    Fri, 01 Aug 2008 07:18:01 GMT - Yahoo! News: Business
    Judge dismisses class-action bond interest lawsuit (AP)
    AP - A North Carolina judge threw out a class-action lawsuit Thursday filed by North Carolina residents seeking refunds on income tax they paid on interest generated from out-of-state bonds. -- read full article
    Fri, 01 Aug 2008 00:21:50 GMT - Yahoo! News: Business
    Economy - Thursday (Investor's Business Daily)
    Investor's Business Daily - Banks' primary credit borrowings averaged $17.45 bil per day in the latest week, breaking the prior week's record of $16.38 bil, the Fed said, a sign of continued liquidity woes. Commercial paper, a vital source of short-term corporate funding, fell $16 bil to $1.728 tril, the lowest in 2 years. But, the interbank cost of borrowing 3-month dollar funds posted its biggest fall in a month, a day after the Fed and other central banks set new liquidity measures. -- read full article
    Thu, 31 Jul 2008 22:49:57 GMT - Yahoo! News: Business
    ArcelorMittal mulling Alpha Natural counter bid: report (Reuters)
    Reuters - ArcelorMittal, the world's top steel maker, is mulling breaking up a takeover bid from Cleveland-Cliffs Inc for U.S. coal miner Alpha Natural Resources, with a counter bid, the Financial Times reported. -- read full article
    Fri, 01 Aug 2008 02:43:25 GMT - Yahoo! News: Business
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