Feeling the heat on debt, earnings (Reuters)
Reuters - American businesses, from Wall Street banks to major industrial corporations, are preparing contingency plans for a pair of once-unthinkable events: the United States defaulting on its debt and the loss of the nation's top AAA credit rating.
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Reuters - Five more senior executives are leaving Thomson Reuters Corp in a shake-up of its Markets division, which has posted disappointing revenue growth amid slow sales of a key new product.
AFP - US stocks rallied on Thursday as eurozone leaders clinched a deal to bail out Greece, boosting financial stocks that had been battered in recent weeks by fears of a European debt crisis.
AP - Exxon Mobil Corp. will have to bring in more people to mop up oil from a broken pipeline beneath the Yellowstone River as receding floodwaters reveal new contamination, federal officials said Friday.
Reuters - House Speaker John Boehner blamed President Barack Obama for the collapse of debt ceiling talks, saying the White House sought to raise taxes and failed to "make the tough choices" on spending cuts.
Posted: 22 Jul 2011 03:20 PM PDT
Reuters - New York City may be frying in near record temperatures but Wall Street has been feeling the heat for months. Wrangling over the debt ceiling and questions marks over corporate earnings mean markets are unlikely to get a break any time soon.
Posted: 22 Jul 2011 04:49 PM PDT
Reuters - American businesses, from Wall Street banks to major industrial corporations, are preparing contingency plans for a pair of once-unthinkable events: the United States defaulting on its debt and the loss of the nation's top AAA credit rating.Posted: 22 Jul 2011 03:05 PM PDT
Posted: 22 Jul 2011 03:51 PM PDT
Reuters - The bankruptcy trustee for Lehman Brothers Holdings Inc's brokerage arm is appealing a February decision awarding Barclays PLC about $1.1 billion associated with Barclays' purchase of Lehman's North American unit at the height of the financial crisis.
Posted: 22 Jul 2011 11:05 AM PDT
Reuters - Greece's sovereign debt crisis will prove unique in the euro zone and will not spread to other countries, European Central Bank President Jean-Claude Trichet said in a newspaper interview on Friday.
Posted: 21 Jul 2011 01:54 PM PDT
AFP - US stocks rallied on Thursday as eurozone leaders clinched a deal to bail out Greece, boosting financial stocks that had been battered in recent weeks by fears of a European debt crisis.Posted: 22 Jul 2011 11:28 AM PDT
AP - UNEMPLOYMENT UP: The Labor Department said unemployment rates rose in 28 states and Washington, D.C., last month, reflecting a weaker economy hampered by high gas prices and lower factory output.
Posted: 22 Jul 2011 03:14 PM PDT
AP - Schlumberger Ltd. said Friday that second-quarter profits jumped 64 percent on a surge in North American oil drilling.
Posted: 22 Jul 2011 02:10 PM PDT
Time.com - Euro-zone leaders seem plenty pleased with their latest bid to ease Greece's financial troubles, and they have reason to be. But does it go far enough beyond their last attempt to do any good?
Posted: 22 Jul 2011 08:27 AM PDT
The Motley Fool - With a resolution to the U.S. debt ceiling still miles away and a long-term solution to Greece's debt troubles still not solidly on the table, it may seem odd that the S&P 500 is bucking the trend and flirting with new multi-year highs. For optimists, these rallies may seem like a dream come true. For skeptics like me, they're opportunities to see whether companies trading near their 52-week highs have actually earned their current valuations.
Posted: 22 Jul 2011 05:14 AM PDT
AP - The Cyprus government says it has agreed with party leaders on an initial austerity package to buoy the Mediterranean island's beleaguered economy in the wake of a deadly blast that has triggered an energy crisis.
Posted: 22 Jul 2011 03:34 PM PDT
Investor's Business Daily - Apollo Residential Mortgage fell 6.8% to 18.75, a day after selling 10 mil shares at $20 a pop, in line with views. The real estate finance company, controlled by Apollo Global Management , plans to invest in mortgage-backed securities guaranteed by Fannie Mae and Freddie Mac.
Posted: 22 Jul 2011 03:45 PM PDT
AP - Exxon Mobil Corp. will have to bring in more people to mop up oil from a broken pipeline beneath the Yellowstone River as receding floodwaters reveal new contamination, federal officials said Friday.Posted: 22 Jul 2011 04:30 PM PDT
Reuters - House Speaker John Boehner blamed President Barack Obama for the collapse of debt ceiling talks, saying the White House sought to raise taxes and failed to "make the tough choices" on spending cuts.Posted: 22 Jul 2011 08:50 AM PDT
The Atlantic Wire - Today's Chart of the Day demonstrates just how quickly Google+ has grown since its launch on June 18. It compares the amount of time it took each of the three major social networks to reach 10 million users. (We can call Facebook, Twitter, and Google+ the Big Three now, right? Just like the Big Three in the American auto industry, or the Miami Heat.) The chart has been making its rounds across the Internet today since its creator, Leon Håland, uploaded it on Google+ (of course). It only took 16 days for the nascent social network to sign up 10 million users, which is approximately 50 times faster than Twitter's or Facebook's dash to that mark.
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