Saturday, September 25, 2010

9/25 Yahoo! News: Business News

     
    Yahoo! News: Business News    
   
IMF approves 213 million dollar loan for Sri Lanka (AFP)
September 25, 2010 at 1:57 PM
 

A Sri Lankan customer at a market in Colombo in April 2010. The International Monetary Fund on Friday agreed to release around 213 million dollars to Sri Lanka designed to top up the island's dwindling foreign reserves.(AFP/File/Lakruwan Wanniarachchi)AFP - The International Monetary Fund on Friday agreed to release around 213 million dollars to Sri Lanka designed to top up the island's dwindling foreign reserves.


   
   
2 charged in Ohio real estate agent's slaying (AP)
September 25, 2010 at 11:36 AM
 

Photo of a house where the body of Andrew VonStein was found early Tuesday morning is shown Wednesday, Sept. 22, 2010, in Kent, Ohio. Authorities say two real estate agents were killed and another was robbed in the past week in northeast Ohio. (AP Photo/Tony Dejak)AP - Two men have been charged with killing an Ohio real estate agent who was showing a vacant house for sale, the first of two agents killed in a week in the region, authorities said Friday.


   
   
Blavatnik fights back on Lyondell creditors claims (Reuters)
September 25, 2010 at 11:06 AM
 
Reuters - Billionaire investor Len Blavatnik and his company Access Industries on Friday hit back at claims he knew the $12 billion 2007 leveraged buyout that created petrochemicals maker LyondellBasell would fail.
   
   
Boehner criticizes postponement of tax cut vote (AP)
September 25, 2010 at 10:44 AM
 

House Minority Leader John Boehner of Ohio, left, holds up a copy of the GOP agenda, 'A Pledge to America', Thursday, Sept. 23, 2010, at a lumber yard thirty miles from the Capitol in Sterling, Va. He is joined by Rep. Kevin McCarthy, R-Calif., center, and Rep. Mike Pence, R-Ind. (AP Photo/J. Scott Applewhite)AP - U.S. House Republican leader John Boehner is criticizing Democratic leaders in Congress for postponing a vote on extending Bush-era tax cuts until after the Nov. 2 election.


   
   
Sinochem in early talks to finance Potash bid: report (Reuters)
September 25, 2010 at 10:27 AM
 
Reuters - China's Sinochem Corp is in early talks with banks to finance its likely bid for all or part of Potash Corp of Canada , a newspaper reported on Saturday, in a sign that China is serious about derailing BHP Billiton Ltd's $39 billion hostile bid.
   
   
Wall Street Week Ahead: Stocks eye strong September finish (Reuters)
September 25, 2010 at 8:42 AM
 
Reuters - Stock investors will head into next week wondering if September will end as strongly as it began for the market, with manufacturing and personal income data among the top indicators on tap.
   
   
Ratings, merger force exit of NBC Universal and CNN execs (Reuters)
September 25, 2010 at 8:35 AM
 
Reuters - Two of the media industry's highest profile executives said on Friday they would leave NBC Universal and CNN, victims of a ratings war and chaotic shifts in the business.
   
   
Durable Goods Data Fuel Market Gains; Home Sales Meager (Investor's Business Daily)
September 25, 2010 at 7:26 AM
 
Investor's Business Daily - Orders for long-lasting goods improved in August while new-home sales were flat, according to separate reports Friday, the latest batch of mixed data suggesting that the economy has stabilized after a summer swoon.
   
   
Calif atty general asks GMAC to cease foreclosures (AP)
September 25, 2010 at 7:21 AM
 
AP - California's attorney general wants GMAC Mortgage LLC to stop foreclosures in the state until it proves it is complying with a state law aimed at preventing foreclosures.
   
   
Regulators seize 3 corporate credit unions, to sell assets (Reuters)
September 25, 2010 at 7:03 AM
 
Reuters - U.S. regulators seized three corporate credit unions on Friday and will repackage about $50 billion in troubled assets from these and previous seizures to sell on the open market.
   
   
Bernanke hopes U.S. not relegated to slow recovery (Reuters)
September 25, 2010 at 6:54 AM
 

U.S. Federal Reserve Chairman Ben Bernanke (R) is introduced by Princeton University President Shirley M. Tilghman during an appearance at the University in Princeton, New Jersey, September 24, 2010. REUTERS/Tim Shaffer (UNITED STATES - Tags: POLITICS EDUCATION BUSINESS)Reuters - Federal Reserve Chairman Ben Bernanke said on Friday it was unclear whether the U.S. economy would be relegated to the type of slow recovery that typically follows a financial crisis.


   
   
Gov't seizes 3 failing wholesale credit unions (AP)
September 25, 2010 at 6:51 AM
 
AP - Federal regulators took over three key lenders to U.S. credit unions, after losses on mortgage investments threatened to topple them. The move was a reminder that parts of the financial system are still burdened by the toxic assets two years after the financial crisis peaked.
   
   
Treasury may be only seller in GM IPO: sources (Reuters)
September 25, 2010 at 6:50 AM
 

Vehicles for sale are parked at a Cadillac dealer in Sherman Oaks, California August 17, 2010. REUTERS/Mario AnzuoniReuters - The United Auto Workers health care trust and the governments of Canada and Ontario may not participate in General Motors Co's upcoming IPO in order to avoid taking a cut on the price of their shares, three people with knowledge of the matter said on Friday.


   
   
Top tech firms settle employment probe (Reuters)
September 25, 2010 at 6:24 AM
 
Reuters - Google, Apple, Adobe Systems, Intel, Intuit and Disney's Pixar reached a settlement with the Justice Department that bars the companies from agreeing to not poach each other's top employees, the department said on Friday.
   
   
Business Highlights (AP)
September 25, 2010 at 5:50 AM
 
AP - Stocks reignite a rally as economic woes fade
   
   
GM recalls 20,000 Cadillacs on crash risk without seatbelt (AFP)
September 25, 2010 at 5:35 AM
 

The Cadillac CTS 2008 model is seen at Geneva Motor Show 2007. General Motors has recalled 20,000 Cadillac CTS vehicles in the United States due to increased risk of injury to short people who don't wear seatbelts, a spokesman said Friday.(AFP/File/Fabrice Coffrini)AFP - General Motors has recalled 20,000 Cadillac CTS vehicles in the United States due to increased risk of injury to short people who don't wear seatbelts, a spokesman said Friday.


   
   
BP works on own estimate for amount of spilled oil (AP)
September 25, 2010 at 5:13 AM
 
AP - Oil giant BP is working behind the scenes to formulate its own estimate for how much crude spewed from its well in the Gulf of Mexico, as it prepares for a potential legal fight with the U.S. government over fines.
   
   
Fed's Lacker doesn't see high risk of deflation (Reuters)
September 25, 2010 at 4:49 AM
 
Reuters - The low U.S. inflation rate does not necessarily mean the economy is at high risk of a troubling downward price spiral, Richmond Federal Reserve Bank President Jeffrey Lacker said on Friday.
   
   
Pelosi says tax cut vote possible before election (AP)
September 25, 2010 at 4:08 AM
 

House Speaker Nancy Pelosi of Calif. gestures during a news conference on Capitol Hill in Washington, Friday, Sept. 24, 2010.  (AP Photo/Manuel Balce Ceneta)AP - House Speaker Nancy Pelosi, under pressure to send Democrats home to campaign with the strongest possible closing argument, said Friday she is considering calling a vote on extending middle-class tax cuts next week.


   
   
Europe's top bank HSBC unveils boardroom shake-up (AFP)
September 25, 2010 at 3:53 AM
 

HSBC, Europe's largest bank, said Friday that Stuart Gulliver, head of its investment arm, would replace Michael Geoghegan, seen here in March 2010, as chief executive and chose finance director Douglas Flint as its new chairman.(AFP/File/Mike Clarke)AFP - HSBC unveiled a huge boardroom shake-up on Friday as Europe's biggest bank looks to build on its recovery after the financial crisis as well as profiting from strong growth in Asia.


   
   
Congress poised to extend GSE home loan limits (Reuters)
September 25, 2010 at 3:21 AM
 
Reuters - Congress is poised to extend next week increased loan limits on mortgages backed by Fannie Mae and Freddie Mac, which are set to expire at year end, Democratic aides said on Friday.
   
   
SEC commissioner questions new market maker rules (Reuters)
September 25, 2010 at 2:39 AM
 
Reuters - A commissioner at the U.S. Securities and Exchange Commission questioned on Friday the value of saddling high-frequency trading firms with tighter market-making rules, which has emerged as a key possible response to the May "flash crash."
   
   
IRS scales back rule on disclosing iffy tax breaks (AP)
September 25, 2010 at 1:55 AM
 
AP - The Internal Revenue Service is scaling back a new requirement that large corporations disclose on their tax returns whether they are taking tax breaks that might be unacceptable to the government.
   
   
Business spending surges but home sales flat (Reuters)
September 25, 2010 at 1:51 AM
 

Employees move a tail structure of a Boeing 777 at Mitsubishi Heavy Industries' Tobishima plant of its Nagoya Aerospace Systems Works in Nagoya, central Japan September 22, 2010. REUTERS/Yuriko NakaoReuters - New orders for a wide range of long-lasting U.S. manufactured goods rose in August and business spending plans rebounded strongly, the latest sign a sharp summer slowdown in the economy was abating.


   
   
2 charged in Ohio real estate agent's slaying (AP)
September 25, 2010 at 1:39 AM
 

Photo of a house where the body of Andrew VonStein was found early Tuesday morning is shown Wednesday, Sept. 22, 2010, in Kent, Ohio. Authorities say two real estate agents were killed and another was robbed in the past week in northeast Ohio. (AP Photo/Tony Dejak)AP - Two men have been charged with killing an Ohio real estate agent who was showing a vacant house for sale, the first of two agents killed in a week in the region, authorities said Friday.


   
   
A look at economic developments around the globe (AP)
September 25, 2010 at 1:37 AM
 
AP - A look at economic developments and activity in major stock markets around the world Friday:
   
   
Citi board to raise CEO Pandit's pay in 2011 (Reuters)
September 25, 2010 at 1:36 AM
 

Citigroup CEO Vikram Pandit testifies before the Congressional Oversight Panel hearing on the government's assistance to Citigroup in Washington March 4, 2010. REUTERS/Richard ClementReuters - Citigroup Inc said on Friday its board of directors would raise Chief Executive Vikram Pandit's salary above the token $1 he has earned for the past two years.


   
   
Regulators say banks on board with pay rules (Reuters)
September 25, 2010 at 1:33 AM
 
Reuters - U.S. regulators on Friday said they doubted financial companies would try to skirt new rules designed to crack down on risky pay practices, but lawmakers weren't so sure.
   
   
Charlie Munger on Communism, Botox, and Goldbug Jerks (The Motley Fool)
September 25, 2010 at 1:26 AM
 
The Motley Fool - Berkshire Hathaway (NYSE: BRK-A - News; NYSE: BRK-B - News) co-chairman and Warren Buffett's sidekick Charlie Munger gave a fantastic two-hour speech at the University of Michigan last week. Here are a few excerpts, lightly edited for clarity.
   
   
Vatican bank chief laments damaged image (AP)
September 25, 2010 at 12:54 AM
 
AP - The chairman of the Vatican bank is questioning why Italian prosecutors seized euro23 million ($30 million) from a Vatican bank account for alleged violations of Italy's anti-money laundering laws.
   
   
Stocks get boost from upbeat US economic data (AP)
September 25, 2010 at 12:51 AM
 

Traders work on the floor of the New York Stock Exchange September 22, 2010. REUTERS/Brendan McDermidAP - Buoyant U.S. industrial figures helped shore up sentiment in the markets, sending stocks higher Friday while the impact of the Bank of Japan's latest apparent intervention to weaken the yen proved short-lived.


   
   
FTSE 100 shares rise (AFP)
September 25, 2010 at 12:13 AM
 

London stocks were upbeat at the end of trade after sagging earlier in the session following a surprise gain in German business confidence though fresh concerns were raised about the health of the US economy.(AFP/Shaun Curry)AFP - London stocks were upbeat at the end of trade on Friday after sagging earlier in the session following a surprise gain in German business confidence, though fresh concerns were raised about the health of the US economy.


   
   
More homeowners lost their home in Q2 (Reuters)
September 24, 2010 at 11:13 PM
 
Reuters - Delinquencies on U.S. home mortgages fell slightly in the three months through June, though the number of homeowners who lost their homes rose sharply from the first quarter, U.S. banking regulators said on Friday.
   
   
Pace of new home sales second slowest on record (AP)
September 24, 2010 at 11:10 PM
 

A home for sale in Illinois in August 2010. New home sales in the Untied States were largely unchanged in August versus the month before, the Census Bureau said Friday.(AFP/Getty Images/File/Scott Olson)AP - New homes sold at the second-slowest pace on record in August, signaling that the housing market will remain a drag on the economy.


   
   
Europe agrees on review of offshore drilling (AP)
September 24, 2010 at 11:01 PM
 
AP - European coastal nations agreed Friday to review rules for offshore drilling, but said each country should decide individually on how to improve safety oil rig safety to avoid disasters like the Gulf of Mexico spill.
   
   
New home sales unchanged in August, supply at 42-year low (Reuters)
September 24, 2010 at 10:46 PM
 

A home under construction is for sale in Great Falls, Virginia August 23, 2010. REUTERS/Kevin LamarqueReuters - New U.S. single-family home sales were flat in August, but the supply of houses on the market tumbled to the lowest level in 42 years, government data showed on Friday.


   
   
Spain unveils lean 2011 budget (AP)
September 24, 2010 at 9:47 PM
 
AP - Spain unveiled an austere budget draft for 2011 as it fights to cut a bloated deficit that has rattled markets worried about the country's finances, slashing spending and throwing in a largely symbolic tax hike on the rich.
   
   
U.S. economy still "very tough": Geithner (Reuters)
September 24, 2010 at 9:30 PM
 
Reuters - Treasury Secretary Timothy Geithner said on Friday that America's economy remained "very tough" and that key sectors such as construction were still struggling.
   
   
KB Home 3rd-quarter loss narrows as revenue rises (AP)
September 24, 2010 at 8:23 PM
 
AP - KB Home narrowed its fiscal third-quarter loss, helped by fewer charges and higher revenue.
   
   
Oil hovers above $75 amid mixed US economic data (AP)
September 24, 2010 at 8:22 PM
 

A crew cleans up the remains of homes in San Bruno, Calif., Thursday, Sept. 23, 2010. Cleanup crews are starting to remove the remains of 37 homes destroyed in a fatal gas pipeline explosion in a San Francisco suburb. (AP Photo/Jeff Chiu)AP - Oil prices hovered above $75 a barrel Friday as an unexpected rise in German business confidence helped to shore up sentiment amid ongoing concerns about the pace of the U.S. economic recovery.


   
   
Would Ending Bush's Tax Cuts Hurt Small Business? (BusinessWeek)
September 24, 2010 at 8:08 PM
 
BusinessWeek - Senate Republican leader Mitch McConnell has thrust small business to the center of the political fracas over extending the Bush era tax cuts. He says President Barack Obama's plan to limit future tax breaks to couples earning less than $250,000 would subject 50 percent of small business income to a tax increase, stalling the job creation engine. McConnell would renew all the cuts, even those for the highest-income U.S. households. The tax cuts expire on Dec. 31 unless Congress acts.
   
   
How to Keep the Bedbugs from Biting (BusinessWeek)
September 24, 2010 at 8:08 PM
 
BusinessWeek - Until it was banned in 1972, the pesticide DDT helped keep bedbugs in check. Increased international travel and other modern phenomena have contributed to a resurgence of the apple-seed-size insects, which feed on human blood. Outbreaks have hit several U.S. cities. In New York, stores including Niketown and Victoria's Secret have closed temporarily because of infestations. The pests are now attracting attention from scientists and entrepreneurs. On Sept. 21 and 22, the experts showed off their anti-insect weapons at the first-ever North American BedBug Summit in Chicago.
   
   
European stocks drift lower amid mixed outlook (AFP)
September 24, 2010 at 7:49 PM
 

Europe's main stock markets have sagged on Friday as news of upbeat German business confidence was offset by lingering concerns about a global economic slowdown.(AFP/File/Shaun Curry)AFP - Europe's main stock markets sagged on Friday as news of upbeat German business confidence was offset by lingering concerns about a global economic slowdown.


   
   
Swiss minister's giggling fit an online hit (AP)
September 24, 2010 at 7:16 PM
 
AP - Switzerland's finance minister has sparked hilarity in the Alpine nation by collapsing into giggles while answering a parliamentary question about imports of cured meats.
   
   
European countries reject Atlantic oil drilling ban proposal (AFP)
September 24, 2010 at 5:53 PM
 

Ships work near the site of the BP Deepwater Horizon oil spill in the Gulf of Mexico off the coast of Louisiana, August 2010. Norway said that countries bordering the north-east Atlantic rejected a ban proposal on deep-sea offshore drilling destined to avoid an environmental disaster comparable to the Gulf of Mexico oil spill.(AFP/Getty Images/File/Chris Graythen)AFP - Countries bordering the north-east Atlantic rejected a ban proposal on deep-sea offshore drilling destined to avoid an environmental disaster comparable to the Gulf of Mexico oil spill, Norway said Friday.


   
   
Wall Street futures signal firmer open (Reuters)
September 24, 2010 at 5:02 PM
 

Traders work on the floor of the New York Stock Exchange September 22, 2010. REUTERS/Brendan McDermidReuters - LONDON (Reuters) Stock index futures signaled a slightly higher open for Wall Street on Friday, with shares set to rebound from Thursday's falls.


   
   
HSBC faces top team shake-up amid turmoil (Reuters)
September 24, 2010 at 4:53 PM
 

HSBC Group Chief Executive Michael Geoghegan picks a journalist to ask a question during a news conference announcing the bank's results in Hong Kong March 1, 2010. REUTERS/Bobby YipReuters - A dramatic upheaval among HSBC's (0005.HK) top management after a boardroom row has left the bank scrambling to limit damage to its reputation but unlikely to alter its increasing focus on Asia.


   
   
Report: HSBC's CEO to step down (AP)
September 24, 2010 at 4:47 PM
 
AP - HSBC's chief executive has lost his bid to move up to chairman and will leave the bank by the end of the year, the Financial Times reported Friday.
   
   
Obama asks Wen for more action on yuan (Reuters)
September 24, 2010 at 4:15 PM
 

U.S. President Barack Obama gestures alongside China's Premier Wen Jiabao before their bilateral meeting at the United Nations in New York, September 23, 2010.    REUTERS/Jason Reed  (UNITED STATES - Tags: POLITICS)Reuters - President Barack Obama urged Chinese Premier Wen Jiabao on Thursday to take rapid steps to address a dispute over the value of China's currency and made clear the United States would protect its economic interests.


   
   
Dollar jumps on talk Japan resumes intervention (Reuters)
September 24, 2010 at 2:02 PM
 
Reuters - The dollar jumped against the yen on Friday on talk Japanese authorities intervened in markets for the second time in just over a week to weaken a currency they fear is undermining the economic recovery.
   
   
BHP clears first Potash hurdle but other barriers remain (Reuters)
September 24, 2010 at 1:17 PM
 
Reuters - BHP Billiton cleared the first regulatory hurdle in its bid for Canada's Potash Corp but the miner still has a long way to go to pass the deal with Canadian authorities and the target's shareholders.
   
   
Yen dips, Japan stocks rise on intervention talk (Reuters)
September 24, 2010 at 1:15 PM
 

Prime Minister of Denmark Lars Rasmussen (L) and NYSE Euronext CEO Duncan Niederauer speak to the press after meeting at the New York Stock Exchange September 23, 2010. REUTERS/Brendan McDermid (UNITED STATES - Tags: POLITICS BUSINESS)Reuters - The yen dropped on Friday, driven by rumors Japan was intervening for the second time this month to weaken it, while Japanese equities cut their losses on strength in exporter stocks.


   
   
Democrats delay tax vote until after November polls (AFP)
September 24, 2010 at 1:10 PM
 

File picture of US Senate Majority Leader Harry Reid (D-NV). Senate Democrats ruled out any vote on extending controversial tax cuts until after the November 2 legislative elections, drawing fire from Republicans who want to keep the cuts(AFP/File/Tim Sloan)AFP - Senate Democrats ruled out any vote on extending controversial tax cuts until after the November 2 legislative elections, drawing fire from Republicans who want to keep the cuts.


   
   
Petrobras raises $70B in offer, world's largest (AP)
September 24, 2010 at 11:59 AM
 

Construction workers leave for lunch as they work to build a Petrobras offshore oil platform, behind, at the BrasFels shipyard in Angra dos Reis, Brazil, Wednesday Sept. 22, 2010.  In the last two years Brazil's state-controlled oil company Petrobras has made the largest offshore oil discoveries in the Western hemisphere in three decades, all just off the southeast coast of Brazil. (AP Photo/Felipe Dana)AP - The exploration and production of Brazil's massive offshore oil reserves is the driving force behind the globe's biggest share offering ever, as the South American nation's state-run energy company raised $70 billion.


   
   
Petrobras raises $70 billion in largest offering ever (Reuters)
September 24, 2010 at 10:47 AM
 
Reuters - Brazilian state oil company Petrobras raised $70 billion on Thursday in the world's biggest share offering, giving the company the financial muscle it needs to tap vast offshore oil reserves.
   
   
No tax cut vote before election: Democrat (Reuters)
September 24, 2010 at 9:32 AM
 

Senator Max Baucus (D-MT) arrives to vote on President Barack Obama's healthcare overhaul on Capitol Hill in Washington December 24,2009. REUTERS/Jim YoungReuters - The Senate will not vote on renewing Bush-era tax cuts before the November 2 elections, a spokesman for the Majority leader said on Thursday, as Democrats face internal divisions and potential Republican obstacles.


   
   
Enbridge to restart oil pipeline after Mich. spill (AP)
September 24, 2010 at 9:04 AM
 

FILE - In this July 29, 2010 file photo, crews work on a boom in the Kalamazoo River in Battle Creek, Mich., trying to capture oil from a ruptured pipeline, owned by Enbridge Inc.  (AP Photo/Paul Sancya, File)AP - Oil is expected to resume flowing early next week through an underground pipeline that ruptured nearly two months ago and spilled at least 820,000 gallons of crude oil into a southern Michigan waterway, the pipeline owner said Thursday.


   
   
Energy officials: Time needed to report incidents (AP)
September 24, 2010 at 8:02 AM
 
AP - A bill that would require pipeline operators to report oil spills, gas leaks and other incidents within one hour doesn't provide enough time, energy industry officials said Thursday.
   
   
Nike orders race ahead of expectations (Reuters)
September 24, 2010 at 7:40 AM
 
Reuters - Nike Inc reported stronger than expected orders and quarterly profit as consumer demand remained resilient in its key markets, suggesting a solid holiday season and sendings its shares up 5 percent.
   
   
BHP bid for Potash Corp clears antitrust hurdle (Reuters)
September 24, 2010 at 7:34 AM
 
Reuters - BHP Billiton has cleared the first regulatory hurdle in its bid for Canada's Potash Corp, but any potential deal still faces major regulatory obstacles, especially within Canada.
   
   
2 plead not guilty in robbery of Ohio realty agent (AP)
September 24, 2010 at 7:03 AM
 

Photo of a house where the body of Andrew VonStein was found early Tuesday morning is shown Wednesday, Sept. 22, 2010, in Kent, Ohio. Authorities say two real estate agents were killed and another was robbed in the past week in northeast Ohio. (AP Photo/Tony Dejak)AP - A Florida man was being sought Thursday in the fatal shooting of an Ohio real estate agent whose body was found in a vacant home he was trying to sell, and police looked for clues in the strangling of another agent and robbery of a third.


   
   
Obama asks Wen for more action on yuan (Reuters)
September 24, 2010 at 6:49 AM
 

U.S. President Barack Obama gestures alongside China's Premier Wen Jiabao before their bilateral meeting at the United Nations in New York, September 23, 2010.    REUTERS/Jason Reed  (UNITED STATES - Tags: POLITICS)Reuters - President Barack Obama urged Chinese Premier Wen Jiabao on Thursday to take rapid steps to address a dispute over the value of China's currency and made clear the United States would protect its economic interests.


   
   
Buffett: Recession continues, by his definition (AP)
September 24, 2010 at 6:32 AM
 
AP - Billionaire Warren Buffett says the economy remains in a recession, by his definition, because most people and businesses still aren't doing as well as they were before the financial crisis.
   
   
Credit Suisse commods team leaves to form own fund (Reuters)
September 24, 2010 at 6:31 AM
 
Reuters - A senior Credit Suisse commodity executive and a team of traders have left the bank to set up a hedge fund backed by Blackstone Group, the latest shake-up resulting from tough financial reform.
   
   
Congress rolls back part of Wall Street reform bill (Reuters)
September 24, 2010 at 6:23 AM
 
Reuters - Lawmakers voted on Thursday to repeal a provision in their landmark Wall Street reform bill that exempted securities regulators from complying with some requests for information from the public.
   
   
J.D. Power: September US auto sales stronger (AP)
September 24, 2010 at 6:17 AM
 
AP - U.S. auto dealers have been seeing stronger new-vehicle sales in September after a tumultuous summer, J.D. Power and Associates said Thursday.
   
   
Summary Box: Housing poised for weak end to year (AP)
September 24, 2010 at 5:34 AM
 
AP - WEAK HOME SALES: This year's home sales are shaping up to be as dismal as last year, despite cheap home prices and mortgage rates that have fallen to the lowest levels in decades.
   
   
Democrats close to delaying vote on Bush tax cuts (AP)
September 24, 2010 at 5:07 AM
 
AP - A growing number of Senate Democrats say they probably won't consider President Barack Obama's call to preserve middle class tax cuts until after voters choose their congressmen and senators on Nov. 2.
   
   
Nike 1st-qtr net income rises 9 percent (AP)
September 24, 2010 at 4:58 AM
 
AP - Growing demand and strong margins helped to drive Nike Inc.'s first-quarter net income up 9 percent, the company said Thursday.
   
   
Fragmented stock markets seen due for pruning (Reuters)
September 24, 2010 at 4:56 AM
 
Reuters - The 50 some venues where U.S. stocks can now trade are due for a pruning, industry executives said on Thursday, citing both free market forces and new rules expected in the wake of the May "flash crash."
   
   
Louisiana senator holds up nominee over moratorium (AP)
September 24, 2010 at 4:51 AM
 
AP - Louisiana Sen. Mary Landrieu said Thursday she will block a Senate vote to confirm the nominee to a key White House economic office to protest the six-month moratorium on deepwater oil and gas drilling in the Gulf.
   
   
Volcker: Fed must not sow seeds of inflation (Reuters)
September 24, 2010 at 4:26 AM
 
Reuters - Paul Volcker, special adviser to President Barack Obama, said on Thursday that while the Federal Reserve's purchases of long-term Treasuries are "understandable," the central bank must be careful not to set the stage for future inflation.
   
   
Home sales on pace to finish year as bad as 2009 (AP)
September 24, 2010 at 4:13 AM
 

A sign on a existing condo for sale encourages an offer Wednesday, Sept. 22, 2010, in Seattle. Existing-home sales rose in August following a big correction in July, according to the National Association of Realtors. (AP Photo/Elaine Thompson)AP - This year's home sales are shaping up to be as dismal as last year, despite cheap home prices and mortgage rates that have fallen to the lowest levels in decades.


   
   
Summary Box: Gold hits record highs (AP)
September 24, 2010 at 3:45 AM
 
AP - GOLD HITS RECORD: Gold prices hit a record high Wednesday, settling at $1,292.10 after a rally that started late Tuesday. That's up 80 percent from October 2008, just after the financial crisis.
   
   
Congress sends small business bill to Obama (Reuters)
September 24, 2010 at 3:40 AM
 
Reuters - A $30 billion small business lending bill cleared Congress on Thursday, giving President Barack Obama's embattled Democrats a hard-won victory just weeks before the November elections.
   
   
Summary Box: Unemployment claims rise to 465K (AP)
September 24, 2010 at 3:30 AM
 
AP - CLAIMS RISE: Applications for unemployment benefits rose for the first time in five weeks, suggesting hiring is weak amid sluggish economic growth. First-time claims increased by 12,000 to 465,000, the government said Thursday.
   
   
Luminaries say recession not over (Reuters)
September 24, 2010 at 3:22 AM
 

Case worker Jessica Yon discusses job eligibility for unemployed people at a jobs center in San Francisco, California in this February 4, 2010 file photo. REUTERS/Robert Galbraith/FilesReuters - Who says the U.S. recession is over? Not Treasury Secretary Timothy Geithner. And not legendary investor Warren Buffett.


   
   
Scientists give fresh estimate of Gulf oil spill (Reuters)
September 24, 2010 at 3:22 AM
 
Reuters - Researchers weighed in on the controversial question of how much oil poured into the Gulf of Mexico during the BP Plc spill and said on Thursday the total amount was around 4.4 million barrels.
   
   
Summary Box: Aug. leading indicators rise 0.3 pct (AP)
September 24, 2010 at 2:45 AM
 
AP - WEAK FORECAST: A gauge of future economic activity rose a modest 0.3 percent in August, which predicts that slow economic growth will continue this winter.
   
   
GM now says Volt can go 25-50 miles on batteries (AP)
September 24, 2010 at 2:26 AM
 
AP - General Motors on Thursday altered the expected range that its Chevrolet Volt electric car can travel on battery power alone.
   
   
Calif regulators approve panel to probe gas blast (AP)
September 24, 2010 at 2:18 AM
 

The interior of a destroyed car is shown in San Bruno, Calif., Tuesday, Sept. 14, 2010 where a pipeline exploded on Thursday. (AP Photo/Paul Sakuma)AP - California regulators voted Thursday to form an independent panel to investigate the San Bruno gas line explosion that killed seven people and torched a San Francisco suburban neighborhood.


   
   
German carmaker Audi invests 900 million euros in Hungary (AFP)
September 24, 2010 at 2:17 AM
 

Hungarian Prime Minister Viktor Orban (R) and Rupert Stadler, Chairman of the Board of German luxury car maker Audi announce an investment of one billion euros to expand its production plant in Gyor western Hungary. The German luxury carmaker Audi will invest 900 million euros (1.2 billion dollars) in its Hungarian plant by 2013, Orban and Stadler said.(AFP/Attila Kisbenedek)AFP - The German luxury carmaker Audi will invest 900 million euros (1.2 billion dollars) in its Hungarian plant by 2013, Prime Minister Viktor Orban and Audi chief Rupert Stadler said on Thursday.


   
   
Labor, faith leaders to withdraw millions from Chase (AFP)
September 24, 2010 at 1:57 AM
 

The JPMorgan Chase & Co. logo is displayed in July 2010. Labor and religious leaders in Detroit announced plans Thursday to withdraw hundreds of millions of dollars from JPMorgan Chase to protest the bank's refusal to freeze foreclosures in Michigan.(AFP/Getty Images/File/Scott Olson)AFP - Labor and religious leaders in Detroit announced plans Thursday to withdraw hundreds of millions of dollars from JPMorgan Chase to protest the bank's refusal to freeze foreclosures in Michigan.


   
   
Senate Democrats To Delay Action on Expiring Tax Cuts Until After Elections (CQPolitics.com)
September 24, 2010 at 1:57 AM
 
CQPolitics.com - Senate Democrats signalled Thursday that they are unlikely to schedule a vote on extending the expiring 2001 and 2003 tax cuts before Congress leaves for the campaign trail.
   
   
A look at economic developments around the globe (AP)
September 24, 2010 at 1:43 AM
 
AP - A look at economic developments and activity in major stock markets around the world Thursday:
   
   
The Recipe for a Successful Retirement (U.S. News & World Report)
September 24, 2010 at 1:35 AM
 
U.S. News & World Report - Retirement is one of the most important financial goals you will ever set. But it's hard to know how to start planning for something that might be 30 or more years away, especially when you have other pressing financial obligations, such as student loans, a new family, or saving for a home.
   
   
Use ETFs To Measure Your Mutual Funds (U.S. News & World Report)
September 24, 2010 at 12:36 AM
 
U.S. News & World Report - "Once I had fame, oh I was full of pride, had lots of friends, always here right by my side, well my fame oh it died, now my friends all try to hide, everybody loves a winner ... but when you lose, you lose alone." -- William Bell, "Everybody Loves A Winner"
   
   
FTSE 100 shares weaker (AFP)
September 24, 2010 at 12:10 AM
 

London stocks were weaker at the end of trade as poor economic data from the eurozone and a spike in US jobs figures hit investor sentiment.(AFP/Shaun Curry)AFP - London stocks were weaker at the end of trade on Thursday as poor economic data from the eurozone and a spike in US jobs figures hit investor sentiment.


   
   
European nations reject ban on deep-sea drilling (AP)
September 23, 2010 at 11:33 PM
 
AP - Oil-producing countries on Thursday rejected a German proposal for a moratorium on deep-water drilling in the Northeast Atlantic that reflected environmental concerns after the BP Gulf of Mexico oil spill.
   
   
Democrats divided on Bush-era tax cuts vote (Reuters)
September 23, 2010 at 11:31 PM
 
Reuters - Democrats cannot decide whether to hold a vote on extending tax cuts, as some lawmakers fear the issue could hurt their re-election chances in November.
   
   
Jobless claims rise, home sales trend higher (Reuters)
September 23, 2010 at 11:14 PM
 

A pair of housing units are shown for sale in San Francisco, California, August 24, 2010. REUTERS/Robert GalbraithReuters - New claims for jobless benefits rose unexpectedly last week, but existing home sales in August rose from a 13-year low, suggesting the economy was stabilizing after a sharp summer slowdown.


   
   
Mercedes sedan ups fuel mileage (AP)
September 23, 2010 at 11:14 PM
 

This May 2009 picture provided by Daimler shows the 2010 Mercedes-Benz S-Class, S 400 hybrid car. (AP Photo/Daimler)AP - Most people don't buy big, heavy, luxury sedans for their gasoline mileage. There are many other vehicles - lower-priced, too - that excel at fuel economy.


   
   
US home sales edge off lows (AFP)
September 23, 2010 at 10:52 PM
 

A home for sale in Miami, Florida. US home sales rose in August for the first time in four months, an industry group said, as the moribund housing sector showed the slightest signs of life.(AFP/Getty Images/File/Joe Raedle)AFP - US home sales rose in August for the first time in four months, an industry group said, as the moribund housing sector showed the slightest signs of life.


   
   
Warren Buffett: "We're still in a recession" (Reuters)
September 23, 2010 at 10:50 PM
 

Warren E. Buffett ,Chairman and Chief Executive Officer of Berkshire Hathaway, testifies before the Financial Crisis Inquiry Commission during a public hearing in New York, June 2, 2010. REUTERS/Shannon StapletonReuters - Billionaire investor Warren Buffett said the U.S. economy remains in recession, disputing this week's assessment by a leading arbiter of economic activity that the downturn ended more than a year ago.


   
   
(AP)
September 23, 2010 at 10:21 PM
 
AP - Obama: Israel should extend freeze on West Bank construction; peace talks must press on.
   
   
Average mortgage rates unchanged at 4.37 pct. (AP)
September 23, 2010 at 10:19 PM
 
AP - Rates on 30-year mortgages this week were unchanged from the previous week, staying slightly above the lowest level in decades.
   
   
US jobless claims rise unexpectedly (AFP)
September 23, 2010 at 9:51 PM
 

A job seeker searches for employment opportunities at an Illinois Employment and Training Center in Arlington Heights, Illinois, 2004. The number of Americans asking for unemployment benefits rose more than expected last week, ending a four-week decline(AFP/Getty Images/File/File/Tim Boyle)AFP - The number of Americans asking for unemployment payments rose more than expected last week the government said, ending a four-week decline and cementing doubts about the health of the job market.


   
   
New financial oversight panel to meet Oct. 1 (AP)
September 23, 2010 at 9:30 PM
 
AP - The new council of top regulators charged with spotting early warning signs of a developing financial crisis will hold its first meeting on Oct. 1.
   
     
 
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