Debt talks buffet stocks, but chipmakers shine (Reuters)
Reuters - The stalemate in debt talks dragged down stocks for a second day on Tuesday, and light volume showed investors remained reluctant to make bets despite another round of healthy earnings.
Reuters - Amazon.com Inc will use its surging revenue to boost growth and drive expansion into areas such as Web content and cloud computing rather than boost its margins.
Reuters - The United States will lose its top-notch AAA credit rating from at least one major rating agency, according to a Reuters poll that also found wrangling over the debt ceiling has already damaged the economy.
Reuters - Wal-Mart Stores Inc is opening its first small store in Chicago this week in the first true test of a store format the world's largest retailer hopes will let it penetrate urban markets that it so far has had trouble cracking.
AFP - The Washington deadlock over raising the US debt ceiling sent stocks tumbling Monday, as the August 2 date to avoid a government debt default grew closer with no deal in sight.
AP - Amazon.com Inc. said Tuesday that its second-quarter profit fell despite a 51 percent jump in revenue as the leading online retailer spent heavily to expand its business.
AP - Could the U.S. lose its top credit rating even if a deal is reached to raise the debt limit? Market analysts and investors increasingly say yes. The outcome won't be quite as scary as a default, but financial markets would still take a blow. Mortgage rates could rise. States and cities, already strapped, could find it more difficult to borrow. Stocks could lose their gains for the year.
AP - Thousands of young protesters have set up sprawling tent camps in Israeli cities, forcing Prime Minister Benjamin Netanyahu on Tuesday to introduce economic reforms to address a swell of discontent over high housing costs and stave off the worst domestic crisis of his two years in power.
AP - Ties between offshore oil and gas companies and the agency that regulates them are so pervasive that a year after new ethics rules took effect, as many as a third of inspectors in some Gulf of Mexico offices have been disqualified to avoid potential conflicts of interest.
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Reuters - WHAT: First reading on U.S. second-quarter GDP
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Reuters - Many of the world's leading steelmakers warn that profits in the second half of this year will be hurt because of the slow economic recovery, along with lower steel prices and higher raw material costs.
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AP - Automaker Saab's recovery efforts were dealt a setback Tuesday after Sweden's state-controlled debt collector announced that a group of creditors has demanded its money back.
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AP - Three of the nation's steel makers expect weakness in the U.S. and global economy will affect their third-quarter performances.
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AP - Travelers who paid all their federal airline taxes when they bought tickets might get a refund if they're flying now, after some of the taxes expired.
Posted: 26 Jul 2011 05:37 PM PDT
Yahoo! News - Over two hundred hybrid cars took a 20 minute drive around Madison, Wisconsin on Sunday to break the existing world record set in Belgium in 2010. Hoping for 500 cars, the event drew 208 which allowed it to shatter the previous …
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