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Business News
Wall Street marks best month in a year in July
(Reuters)
30 Jul 2010 at 1:45pm
Reuters - U.S. stocks closed little changed on Friday, but Wall Street wrapped up its best month in a year after the earnings season rounded the final turn with a group of strong results that offset the impact of poor economic data.
UK's Osborne urges banks to lend, restrain bonuses
(Reuters)
31 Jul 2010 at 7:40pm
Reuters - British finance minister George Osborne urged the country's banks to use strong first-half profits to boost business lending rather than pay large bonuses, in an interview published late on Saturday.
Eurazeo in exclusive B&B Hotels talks with Carlyle
(Reuters)
31 Jul 2010 at 6:38am
Reuters - French financial holding firm Eurazeo said on Saturday it is in exclusive talks to sell its B&B Hotels chain to U.S. private equity firm the Carlyle Group.
BP may sell German gas stations for $2.6 billion: report
(Reuters)
31 Jul 2010 at 7:35am
Reuters - BP Plc is seeking to sell its German petrol station chain Aral for around 2 billion euros ($2.6 billion), German magazine Wirtschaftswoche reported on Saturday, citing investment bankers familiar with BP's plans.
Jobs data, earnings latest test for stocks
(Reuters)
30 Jul 2010 at 2:46pm
Reuters - U.S. stocks are unlikely to break above a key technical level next week unless monthly jobs data and consumer company results paint a more promising picture of the recovery.
Citigroup paying $75M to settle civil charges
(AP)
29 Jul 2010 at 5:50pm
AP - Banking titan Citigroup Inc. is paying $75 million to settle civil charges that it misled investors about its potential losses from subprime mortgages as the housing bust hit in 2007.
Bleak outlook for economy as growth slows
(AP)
30 Jul 2010 at 1:53pm
AP - The economy is still growing, just not by much. And until that changes, don't look for the jobs to come back.
ICICI Bank profit up 17 percent on better loans
(AP)
31 Jul 2010 at 4:18am
AP - ICICI Bank, India's largest private sector bank, said quarterly profit rose 17 percent as it cut costs and eliminated bad loans amid revived credit demand in India's growing economy.
Greece turns to military to restore fuel supplies
(AP)
30 Jul 2010 at 11:36am
AP - Greece said Friday it will use military trucks, navy vessels and commandeered fuel tankers to restore gasoline supplies cut by a strike that has hurt the country's industry and vital tourism trade at the height of vacation season.
Cuomo widens insurer probe with 6 more subpoenas
(Reuters)
30 Jul 2010 at 11:32am
Reuters - New York Attorney General Andrew Cuomo has subpoenaed six more insurers as the state widens a probe into whether life insurance companies have defrauded families of deceased members of the military.
Champagne corks popping again in luxury business
(AFP)
31 Jul 2010 at 11:05pm
AFP - Champagne corks are popping again in the luxury business as "It" bags and expensive watches this year sell like hotcakes from Beijing to New York, signalling the turning of a page after the global financial crisis.
Soaring e-book sales speak volumes
(AFP)
31 Jul 2010 at 10:54pm
AFP - After years of lurking in the literary wilderness, the e-book market has exploded with online retailer Amazon.com's digital volumes recently overtaking sales of their hardcover counterparts.
Michigan voters search for economic savior
(AP)
31 Jul 2010 at 3:23pm
AP - Michigan voters frustrated over lost jobs, home foreclosures and budget deficits will vote in Tuesday's primary election for leaders they hope can move the state out of its economic morass.
Coast Guard allows toxic chemical use on Gulf oil
(AP)
31 Jul 2010 at 11:05pm
AP - The U.S. Coast Guard has routinely approved BP requests to use thousands of gallons of toxic chemical a day to break up oil slicks in the Gulf of Mexico despite a federal directive that the chemicals be used only rarely on surface waters, congressional investigators said Saturday after examining BP and government documents.
Debate on death and taxes heats up as billionaires fall
(AFP)
31 Jul 2010 at 8:01pm
AFP - The question of death and taxes has risen to the fore in Washington as the demise of prominent billionaires has underscored a fluke which allows big estates to escape taxes, but only for this year.
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