Asian stocks gain on U.S. debt deal hopes, tech results

Asian stocks gain on U.S. debt deal hopes, tech results (Reuters)

Posted: 19 Jul 2011 06:48 PM PDT

Reuters - Asian shares rose on Wednesday as indications of progress on a U.S. budget-reduction deal boosted investor confidence while encouraging quarterly numbers from Apple Inc and International Business Machines Corp helped Asia's beaten-down tech sector gain for a second day.

Apple smashes Street views, shares soar (Reuters)

Posted: 19 Jul 2011 06:44 PM PDT

Reuters - Blockbuster sales of the iPhone and strong Asian business again helped Apple Inc crush Wall Street's expectations, driving its shares up more than 7 percent to a record high and boosting Asian stocks.

Analysis: Is it too early to write off Rupert Murdoch as CEO? (Reuters)

Posted: 19 Jul 2011 06:16 PM PDT

Reuters - It looked like it was time for a changing of the guard at News Corp.

Fed's Hoenig: growth to continue at modest pace (Reuters)

Posted: 19 Jul 2011 07:06 PM PDT

Reuters - A top Federal Reserve official said on Thursday the U.S. economy should grow at a modest pace for the next several years, but issued a harsh criticism of the U.S. central bank's just-concluded bond buying program.

Merkel damps expectations of euro zone Greek deal (Reuters)

Posted: 19 Jul 2011 01:47 PM PDT

Reuters - German Chancellor Angela Merkel, Europe's reluctant paymaster, doused expectations of any comprehensive solution to Greece's debt crisis at an emergency euro zone summit on Thursday.

Assets frozen of 3 firms accused of inside trades (AP)

Posted: 18 Jul 2011 04:04 PM PDT

AP - A federal judge has frozen assets of three Swiss-based investment firms accused of profiting from trades based on inside information about a Swiss company's planned acquisition of a U.S. maker of antibacterial products.

Summary Box: Home construction rose in June (AP)

Posted: 19 Jul 2011 09:01 AM PDT

AP - JUNE SURGE: Builders broke ground on a seasonally adjusted 629,000 homes last month, a 14.6 percent increase from May. Still, that is roughly half the 1.2 million homes per year that economists say must be built to sustain a healthy housing market.

Apple results strong; record iPhone, iPad sales (AP)

Posted: 19 Jul 2011 04:46 PM PDT

AP - The iPhone is conquering Asia, the home of its strongest competitors. Sales there nearly quadrupled from a year ago and helped Apple Inc. trump analyst expectations for yet another quarter.

Merkel: EU summit won't yield quick crisis fix (AP)

Posted: 19 Jul 2011 03:19 PM PDT

AP - German Chancellor Angela Merkel dashed hopes Tuesday that the upcoming European Union summit on Greece would yield a quick and comprehensive solution to deal with the debt crisis.

Lawmakers call for hearings on robo-signing (AP)

Posted: 19 Jul 2011 03:14 PM PDT

AP - Lawmakers and enforcement agencies called for hearings and further investigation Tuesday after learning that the illegal practice known as robo-signing has continued in the mortgage industry.

Lawyer for Strauss-Kahn's French accuser meets D.A. (Reuters)

Posted: 19 Jul 2011 03:37 PM PDT

Reuters - Lawyers for two women who accuse former IMF chief Dominique Strauss-Kahn of attempted rapes in France and America met New York prosecutors on Tuesday, although it was not clear what they discussed.

On the Call: Harley-Davidson CEO Keith Wandell (AP)

Posted: 19 Jul 2011 12:51 PM PDT

AP - Harley-Davidson Inc.'s second quarter profit more than doubled on a jump in U.S. demand for bikes. Domestic new bike sales grew 7.5 percent and marked Harley's first increase in U.S. retail sales since 2006.

Special report: Banks still robo-signing (Reuters)

Posted: 19 Jul 2011 01:13 PM PDT

Reuters - America's leading mortgage lenders vowed in March to end the dubious foreclosure practices that caused a bruising scandal last year.

Oil higher on weaker dollar, stronger home starts (AP)

Posted: 19 Jul 2011 12:26 PM PDT

AP - Oil reversed direction again on Tuesday, rising 2 percent as traders took their cues from the dollar and stock markets.

6 senators push bipartisan plan to cut deficit (AP)

Posted: 19 Jul 2011 04:42 PM PDT

AP - The bipartisan "Gang of Six" senators on Tuesday offered a major plan to cut the deficit by almost $4 trillion over the coming decade, but whether it can break through the budget debate will depend on whether Republican lawmakers can find a way to endorse well over $1 trillion in new tax revenues reaped as Congress overhauls the loophole-choked U.S. tax code.

UAW says "transplant" deal possible in 2011 (Reuters)

Posted: 19 Jul 2011 07:08 PM PDT

Reuters - The United Auto Workers is talking with "a lot of" foreign automakers about representing their U.S. plants' hourly workers and could see a deal by year end, top union officials said.