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Business News

Wall St falls on tech outlook worries (Reuters)

Thu, 29 Jul 2010 21:06:55 GMT

Reuters - U.S. stocks sagged in volatile trading on Thursday after weak outlooks from technology companies and downbeat comments from a Federal Reserve official gave investors little reason to buy.

Amgen 2Q net income slips on higher taxes (AP)

Thu, 29 Jul 2010 21:19:25 GMT

AP - Biotechnology company Amgen Inc. said Thursday that its second-quarter net income slipped 5 percent, mainly on higher taxes, but the results topped Wall Street expectations.

Summary Box: Mortgage rates hit low of 4.54 pct. (AP)

Thu, 29 Jul 2010 20:25:55 GMT

AP - RATES KEEP FALLING: Mortgage company Freddie Mac said the average rate for 30-year fixed loans this week was 4.54 percent, down from 4.56 last week.

Colgate, Glaxo sue over toothpaste "nurdle" (Reuters)

Thu, 29 Jul 2010 20:41:27 GMT

Reuters - Two lawsuits have been filed over a gob of toothpaste.

Congress to try to recoup Fannie, Freddie costs (AP)

Thu, 29 Jul 2010 21:18:47 GMT

AP - Lawmakers plan to study ways to get back some of the $145 billion the government has pumped into giant mortgage buyers Fannie Mae and Freddie Mac.

China allows release of critical IMF report (AFP)

Thu, 29 Jul 2010 21:20:09 GMT

AFP - China allowed an IMF report critical of its currency policy to be released Thursday for the first time in four years, signaling Beijing's confidence that it can control the debate on the yuan.

The Rebirth of Prague's Vltava River (BusinessWeek)

Thu, 29 Jul 2010 12:08:41 GMT

BusinessWeek - When Petr Vojak was deciding where to settle down with his family last year, his aim was clear. He wanted somewhere peaceful yet central. Eventually, they decided on a new flat in a northern district along the Vltava river, which flows through Prague.

Summary Box: MetLife posts profit on investments (AP)

Thu, 29 Jul 2010 21:31:59 GMT

AP - THE BOTTOM LINE: MetLife posted a second-quarter profit Thursday of $1.5 billion, or $1.84 per share. That compared with a loss of $1.43 billion, or $1.74 per share, in the year-ago quarter.

Gulf spill lacks societal punch of Santa Barbara (AP)

Thu, 29 Jul 2010 21:28:09 GMT

AP - In 1969, Sen. Gaylord Nelson was so moved after seeing the devastation of an oil spill off the California coast near Santa Barbara that he called for a national teach-in on the environment. The following year the resulting "Earth Day" kick-started the modern environmental movement and shaped the way Americans thought about their air, water and soil.

Italy seeks private sponsors to restore Colosseum (AP)

Thu, 29 Jul 2010 14:59:57 GMT

AP - Italian officials are seeking to raise some euro25 million (about $32 million) in private money to finance the restoration of one of the country's iconic landmarks: the Colosseum.

Citigroup to pay $75 million to settle SEC charges (Reuters)

Thu, 29 Jul 2010 20:51:37 GMT

Reuters - Citigroup Inc will pay $75 million to settle charges that it failed to disclose subprime exposure to investors in 2007, the U.S. Securities and Exchange Commission said on Thursday.

RIM shares up on reports of new BlackBerry (AFP)

Wed, 28 Jul 2010 22:33:55 GMT

AFP - Shares in Canada's Research in Motion surged Wednesday on reports the BlackBerry maker plans to release a new smartphone next week to rival Apple's iPhone.

Exxon and Shell quarterly profits soar (Reuters)

Thu, 29 Jul 2010 18:07:59 GMT

Reuters - Exxon Mobil's quarterly profit jumped 85 percent on surging oil prices and a big rise in refining margins, while Royal Dutch Shell Plc's (RDSa.L) profits rose 34 percent.

Out-of-stock Kindle may mean new version coming (Reuters)

Wed, 28 Jul 2010 17:56:07 GMT

Reuters - Amazon.com said its best-selling Kindle device was currently out of stock, leading one Internet analyst to surmise the online retailer was poised to launch a new version.

Cuba: Deficit lower than expected for 2010 (AP)

Thu, 29 Jul 2010 17:58:22 GMT

AP - Cuba says its budget deficit came in far below forecasts in the first half of 2010, evidence that tax increases and deep spending cuts on food imports may be helping the communist government weather a severe economic crunch.

MetLife posts Q2 earnings of $1.5 billion (Reuters)

Thu, 29 Jul 2010 20:15:44 GMT

Reuters - MetLife Inc , the biggest U.S. life insurance company, posted a second-quarter profit of $1.53 billion, helped by investment gains.

White House: car bailouts saved a million jobs (AFP)

Thu, 29 Jul 2010 21:13:38 GMT

AFP - The White House on Thursday said its multi-billion dollar auto industry bailout had saved a million jobs and brought the fabled sector back from the brink of collapse.