Buyers exit market before House debt plan vote

Buyers exit market before House debt plan vote (Reuters)

Posted: 28 Jul 2011 02:39 PM PDT

Reuters - Stocks faded in the afternoon on Thursday to end mostly lower, with investors skeptical a key vote by Congress would lead to a deal to avoid a U.S. default.

Starbucks raises outlook, pins hopes on the affluent (Reuters)

Posted: 28 Jul 2011 05:34 PM PDT

Reuters - Starbucks Corp raised its fiscal year forecast above Wall Street's estimates, banking on its relatively well-heeled customers visiting more often and shaking off price increases.

Jobless claims, housing data offer economic hope (Reuters)

Posted: 28 Jul 2011 10:10 AM PDT

Reuters - The number of Americans claiming new jobless benefits hit a three-month low last week and contracts to buy existing homes rose in June, hopeful signs for an economy that has struggled to regain momentum.

Gulf oil producers cut some output on Tropical Storm Don (Reuters)

Posted: 28 Jul 2011 02:51 PM PDT

Reuters - Gulf of Mexico producers reduced oil and natural gas output on Thursday as Tropical Storm Don churned northwest toward the Texas Coast, where it could make landfall by the weekend.

Goldman Sachs rates desk hemorrhages traders (Reuters)

Posted: 28 Jul 2011 02:58 PM PDT

Reuters - More than a dozen traders have quit Goldman Sachs Group Inc's North American government bonds and derivatives trading desk in New York in recent months as the bank takes fewer risks and big bonuses for ambitious traders dry up.

Diageo paying $16.4M to settle SEC bribery charges (AP)

Posted: 27 Jul 2011 03:23 PM PDT

AP - Diageo PLC, the world's biggest liquor producer, has agreed to pay about $16.4 million to settle civil allegations of bribing government officials in India, Thailand and South Korea to get sales and tax benefits for its Johnnie Walker and Windsor Scotch whiskeys and other brands.

Fed has 'no magic wand' in default (AFP)

Posted: 28 Jul 2011 11:39 AM PDT

AFP - The Federal Reserve has no magic wand to overcome the consequences of a US default on its debt, a senior Fed official said Thursday.

Samsung Q2 profit falls, warns of tough outlook (Reuters)

Posted: 28 Jul 2011 06:12 PM PDT

Reuters - Samsung Electronics Co, the world's top memory chip maker, reported a 25 percent drop in quarterly profit, hit by losses in its flat screen business, overshadowing strong profit growth from mobile phone sales.

Italy borrowing costs soar in volatile euro markets (Reuters)

Posted: 28 Jul 2011 11:26 AM PDT

Reuters - Italy's borrowing costs soared at a closely watched bond auction on Thursday as investors worried by the euro zone debt crisis and an impasse over the U.S. debt ceiling exacted a high risk premium.

Mortgage rates for the past 52 weeks, at a glance (AP)

Posted: 28 Jul 2011 12:50 PM PDT

AP - Mortgage rates for the past 52 weeks, at a glance

Dollar status in doubt if debt crisis persists: IMF chief (AFP)

Posted: 28 Jul 2011 03:29 PM PDT

AFP - IMF chief Christine Lagarde warned Thursday that failure to resolve the US debt crisis would likely raise "doubts" about the dollar's status as the world's prime reserve currency.

Teavana shares soar in trading debut (Reuters)

Posted: 28 Jul 2011 11:25 AM PDT

Reuters - Shares of specialty tea retailer Teavana Holdings Inc surged as much as 73 percent on their trading debut on Thursday, as investors gravitate toward specialty consumer foods.

Summary Box: Home contracts rose in June (AP)

Posted: 28 Jul 2011 12:12 PM PDT

AP - HOME CONTRACTS: The number of people who signed contracts to buy homes rose in June 2.4 percent, the second monthly gain, according to the National Association of Realtors.

Patterson-UTI Energy (Investor's Business Daily)

Posted: 28 Jul 2011 03:50 PM PDT

Investor's Business Daily - Patterson-UTI Energy (NASDAQ:PTEN - News) in Q2 earned 52 cents a share, up sharply vs. a year ago and 3 cents above views. The oil driller's revenue leapt 95% to $600.1 mil. Shares rose 1.4%.

Analysis: Mortgage tax break eyed to help cut debt (Reuters)

Posted: 28 Jul 2011 08:41 AM PDT

Reuters - Lawmakers are eyeing a popular tax deduction for mortgage interest as they look for ways to fill record budget deficits, although any changes are likely to await a broad reworking of the tax code.

EIB rejects Russian as investor in Saab: report (AFP)

Posted: 28 Jul 2011 11:36 AM PDT

AFP - The European Investment Bank on Thursday confirmed a loan to Swedish carmaker Saab was approved on condition Russian businessman Vladimir Antonov did not take over, a report said.