Reuters - Stocks closed lower for a third straight day on Tuesday as Europe's fiscal woes and a weak start to tech earnings gave investors little reason to buy even after the recent losses.Posted: 12 Jul 2011 04:29 PM PDT
Reuters - Moody's cut Ireland's credit rating to junk on Tuesday, warning that the debt-laden country would likely need a second bailout -- just the latest move amid heightening concerns about Europe's ability to address its debt crisis and prevent it from spreading.
Posted: 12 Jul 2011 01:45 PM PDT
Reuters - The U.S. trade gap widened sharply in May to its highest level in nearly three years as surging oil prices helped push imports to a near record and exports fell slightly from April's all-time high.Posted: 12 Jul 2011 02:47 PM PDT
Reuters - Some Federal Reserve officials believe further monetary policy easing could be needed if the recovery remains too sluggish to cut the stubbornly high U.S. jobless rate and if inflation eases as expected, minutes of the Fed's last meeting show.
Posted: 12 Jul 2011 06:25 PM PDT
Reuters - Electronic Arts Inc, the video game publisher, is buying PopCap Games in a deal worth up to $1.3 billion as it tries to ramp up its social and casual games portfolio and better compete with Zynga Inc.
Posted: 12 Jul 2011 02:55 AM PDT
AFP - European stock markets and the euro slumped in early deals Tuesday on growing fears that the eurozone debt crisis will spread despite fresh measures aimed at preventing contagion, traders said.Posted: 12 Jul 2011 11:57 AM PDT
Reuters - The Federal Reserve, in a push to control the often wayward communications of its top officials, issued detailed rules on Tuesday dictating what they can and cannot do.
Posted: 12 Jul 2011 03:16 PM PDT
AP - SEASON OF SETTLEMENTS: Bank of America, JPMorgan Chase and Wells Fargo have settled lawsuits with investors in the second quarter, all of which could hurt financial results.
Posted: 12 Jul 2011 05:05 PM PDT
Reuters - European Union leaders are poised to hold an emergency summit after finance ministers acknowledged for the first time that some form of Greek default may be needed to cut Athens' debts and to stop contagion spreading to Italy and Spain.
Posted: 12 Jul 2011 02:39 PM PDT
Reuters - New York's attorney general is investigating Bank of America Corp's $8.5 billion settlement with investors over losses in mortgage-backed securities, and has sought data from 20 institutional investors that agreed to the accord.Posted: 12 Jul 2011 07:10 PM PDT
AFP - The International Monetary Fund named Chinese economist Zhu Min to a new deputy managing director's position, giving long-awaited recognition to China's huge power in the global economy.Posted: 12 Jul 2011 09:52 AM PDT
AP - Online retailers like eBay Inc. can be held responsible for the infringement of trademarks by goods they sell, Europe's top court said Tuesday.
Posted: 12 Jul 2011 01:31 PM PDT
AP - Grammy-winning singer R. Kelly faces a $2.9 million foreclosure on his suburban Chicago mansion.Posted: 12 Jul 2011 02:23 PM PDT
AP - Health officials say hundreds of people have been sickened by a chlorine gas cloud that leaked over Baghdad after an explosion at a water treatment plant.
Posted: 12 Jul 2011 02:28 PM PDT
ContributorNetwork - COMMENTARY | With Secretary of the Treasury Ben Bernanke warning of the debt ceiling being reached on Aug. 2, Congress and the president are hard at work deliberating on budget cuts to accompany any raise in the debt ceiling. Partisan politics are playing a big role because Democrats want to raise revenue to help pay down long term debt by raising taxes, and Republicans want to cut subsidies and cut the budget in order to reduce the debt. Both have their priorities and methods, but what is the total cost on the taxpayer of all of this deliberation?
Posted: 12 Jul 2011 06:21 PM PDT
AP - A federal judge has rejected most claims made in a shareholder lawsuit against Toyota Motor Corp. that accused the Japanese automaker of knowing about and hiding purported acceleration problems in some of its vehicles.
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