Wall St falls on tech outlook worries
(Reuters)
Reuters - U.S. stocks sagged in volatile trading on Thursday after weak outlooks from technology companies and downbeat comments from a Federal Reserve official gave investors little reason to buy.
Citigroup to pay $75 million to settle SEC charges
(Reuters)
Reuters - Citigroup Inc will pay $75 million to settle charges that it failed to disclose subprime exposure to investors in 2007, the U.S. Securities and Exchange Commission said on Thursday.
Colgate, Glaxo sue over toothpaste "nurdle"(Reuters)
Reuters - Two lawsuits have been filed over a gob of toothpaste.
SEC charges Wyly brothers with $550 million fraud
(Reuters)
Reuters - The Securities and Exchange Commission charged billionaire Samuel Wyly and his brother Charles with fraud for reaping more than $550 million of illicit gains by trading stock in four companies while they were serving as directors.
MetLife posts Q2 earnings of $1.5 billion, beating Street
(Reuters)
Reuters - MetLife Inc , the biggest U.S. life insurance company, posted a second-quarter profit of $1.53 billion, helped by higher premium revenue from sales domestically and abroad.
FTSE 100 edges up in early deals
(AFP)
AFP - London's leading shares rose slightly at the start of trading on Thursday as positive corporate earnings figures countered weak US economic data.
Business Highlights
(AP)
AP - Initial jobless claims drop to 457,000
Samsung says 2Q net profit surges 83 percent
(AP)
AP - Samsung's net profit surged 83 percent in the second quarter to a record high amid strength in semiconductors, flat panels and TVs, though the electronics giant cautioned such stellar results may be unsustainable amid intensifying competition in areas such as mobile phones.
Italy seeks private sponsors to restore Colosseum
(AP)
AP - Italian officials are seeking to raise some euro25 million (about $32 million) in private money to finance the restoration of one of the country's iconic landmarks: the Colosseum.
NY AG announces probe of life insurance industry
(AP)
AP - State Attorney General Andrew Cuomo said Thursday that he had opened a fraud investigation into how life insurers pay out benefits after policyholders die.
China allows release of critical IMF report
(AFP)
AFP - China allowed an IMF report critical of its currency policy to be released Thursday for the first time in four years, signaling Beijing's confidence that it can control the debate on the yuan.
Out-of-stock Kindle may mean new version coming
(Reuters)
Reuters - Amazon.com said its best-selling Kindle device was currently out of stock, leading one Internet analyst to surmise the online retailer was poised to launch a new version.
Florida mortgage firm settles federal charges
(AP)
AP - Federal regulators say a Florida company they accused of misleading borrowers who were seeking to avoid foreclosure has agreed to repay the consumers $2.4 million to settle those charges.
House to take up offshore drilling reform bill
(Reuters)
Reuters - Three months after the catastrophic oil rig explosion that sent millions of gallons of crude spewing into the Gulf of Mexico, the U.S. House of Representatives was poised on Friday to debate legislation clamping down on the industry's offshore drilling practices.
10 Congressmen Who Should Be Fired
(The Daily Beast)
The Daily Beast - They tried to build a Bridge to Nowhere, fretted about "killing Grandma,"and stiffed the IRS. John Avlon presents a rogue's gallery of House members who should be bounced come November, from Joe Wilson to Alan Grayson.
Tenneco ,
(Investor's Business Daily)
Investor's Business Daily - Tenneco , an auto parts maker, swung to a Q2 profit of 62 cents ex items, topping views by 18 cents. Revenue rose 36% to $1.5 bil, above views. Tenneco, which makes emission control products, shock absorbers and other components, climbed 7.6% to 25.97.
The Rebirth of Prague's Vltava River
(BusinessWeek)
BusinessWeek - When Petr Vojak was deciding where to settle down with his family last year, his aim was clear. He wanted somewhere peaceful yet central. Eventually, they decided on a new flat in a northern district along the Vltava river, which flows through Prague.