Wall Street records worst day in a month, VIX jumps (Reuters)
Posted: 11 Jul 2011 01:40 PM PDT
Reuters - Stocks suffered their worst day in nearly a month on Monday as concern about the stalemate in U.S. budget talks and growing debt problems in the euro zone prompted investors to hedge against further losses.Posted: 11 Jul 2011 04:16 PM PDT
Reuters - Alcoa Inc, America's biggest aluminum producer, posted a big jump in second-quarter profit on Monday, matching Wall Street estimates, partly due to soaring prices for the metal and alumina, its raw material.
Posted: 11 Jul 2011 04:18 PM PDT
Reuters - U.S. President Barack Obama and top U.S. lawmakers fell short on Monday of finding enough spending cuts for a deal to avoid an August 2 debt default and Republicans came under fresh pressure to agree to tax hikes.
Posted: 11 Jul 2011 03:26 PM PDT
Reuters - The UK telephone hacking scandal that closed the News of the World newspaper and put News Corp's deal to buy the rest of broadcaster BSkyB in doubt will have little impact on cash flows at Rupert Murdoch's media empire, a major shareholder said on Monday.Posted: 11 Jul 2011 05:08 PM PDT
Reuters - Greece is heading for default, or at least a devaluation, and European Union (EU) leaders have to adopt a "plan B" to stem contagion to the rest of the bloc, billionaire investor George Soros said on Tuesday.
Posted: 11 Jul 2011 07:14 AM PDT
AP - Egypt's benchmark stock index dropped almost 3 perecnt Monday, dragged down by concerns of mounting unrest in the Arab world's most populous nation.Posted: 11 Jul 2011 10:48 AM PDT
AP - The Obama administration is launching a pilot program designed to spark economic growth in urban America by partnering federal officials with local decision-makers in six cities, the U.S Housing and Urban Development secretary announced Monday.
Posted: 11 Jul 2011 03:30 PM PDT
AP - Alcoa Inc.'s second-quarter earnings rose as improvement in the manufacturing sector brought higher sales and prices that offset rising raw material costs.Posted: 11 Jul 2011 04:24 PM PDT
Reuters - The Eurogroup of euro zone finance ministers and officials met on Monday to discuss the options for solving Greece's debt crisis.
Posted: 11 Jul 2011 03:20 PM PDT
Reuters - Deutsche Bank AG (DBKGn.DE) asked a Manhattan judge to dismiss a government lawsuit accusing it of fraud for repeatedly lying about the quality of mortgages it handled under a federal program.
Posted: 11 Jul 2011 07:04 PM PDT
AFP - Police questioned a French writer over her claim that Dominique Strauss-Kahn tried to rape her in 2003, while the former IMF head's next court appearance in his New York sex assault case was delayed until August 1.Posted: 11 Jul 2011 10:15 AM PDT
Reuters - Congress should permanently extend increased loan limits on mortgages backed by Fannie Mae and Freddie Mac that are set to expire, the top Democrat of the House Financial Services Committee said on Monday.Posted: 11 Jul 2011 06:02 PM PDT
AP - Masked gunmen blew up a terminal of the Egyptian natural gas pipeline to Israel and Jordan in a predawn attack Tuesday, security officials said.
Posted: 11 Jul 2011 04:54 PM PDT
ContributorNetwork - COMMENTARY | President Barack Obama announced Monday during a news conference that Social Security and Medicare were on the table for consideration as spending cuts as part of a compromise deal with Republicans to raise the debt ceiling. He said that tough decisions were going to have to be made in order for a deal to be reached. Obama said he will refuse any short-term debt ceiling deal, but nothing could be done if one side refuses to negotiate (a pointed remark at Republican intransigence about tax breaks and loopholes). Default and government shutdown was not acceptable, he said.
Posted: 11 Jul 2011 04:28 PM PDT
Reuters - Mercedes-Benz dealerships were tops for the third straight year in an independent study issued on Monday of U.S. auto dealers that uses secret shoppers to determine how customers are treated.
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