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CSX 2Q profit jumps with improving economy (AP) (Jul-12, 16:20 EDT )-- AP - Railroad CSX Corp. said Monday a "dynamic" U.S. economy, combined with an across-the-board improvement in shipping volume and higher prices, drove its second-quarter profit up 36 percent.
A look at global economic developments (AP) (Jul-12, 16:03 EDT )-- AP - A look at economic developments and activity in major stock markets around the world Monday:
Small companies denied credit as big firms thrive (AP) (Jul-12, 15:56 EDT )-- AP - Big companies are building up cash and are expected to report strong earnings starting this week. Not so for small businesses that can't get loans — or hire freely until they do.
CSX 2Q profit jumps on widespread economic jolt (AP) (Jul-12, 15:38 EDT )-- AP - Railroad CSX Corp. said Monday a stronger U.S. economy drove its second-quarter profit up 36 percent. An across-the-board improvement in shipping volume, prices and efficiency gains also helped.
Summer gasoline prices should be fairly steady (AP) (Jul-12, 15:30 EDT )-- AP - Gasoline pump prices should stay in a fairly narrow range this summer, putting less strain on family budgets for summer driving trips and commutes to work.
Rates on Treasury bills fall at weekly auction (AP) (Jul-12, 13:50 EDT )-- AP - Interest rates on short-term Treasury bills fell in Monday's auction to the lowest levels in three weeks.
Fed to release new dealer credit survey on Tuesday (Reuters) (Jul-12, 13:27 EDT )-- Reuters - The Federal Reserve said on Monday it will release on Tuesday the results of a new quarterly lending survey based on terms and conditions in the securities financing and over-the-counter derivatives markets.
UK recession worse, Q1 growth relied on government spending (Reuters) (Jul-12, 12:35 EDT )-- Reuters - Britain's recession was deeper than previously thought, new data showed on Monday, while a top central banker warned that euro zone weakness and looming government spending cuts could send the recovery into reverse.
Sen. Scott Brown plans to vote for financial regulation bill (Jul-12, 12:34 EDT )-- Sen. Scott Brown (R-Mass.) said Monday he plans to vote for legislation to rewrite the nation's financial regulations, all but assuring that the landmark legislation soon will pass in the Senate and head to President Obama's desk. Scott Brown -...
Cowen Group shares slip following KBW downgrade (AP) (Jul-12, 12:20 EDT )-- AP - Shares of Cowen Group Inc. slipped Monday after Keefe, Bruyette & Woods cut its rating on the investment brokerage, citing the difficulties it will have turning a profit in the uncertain economic environment.
Summary Box: Recovering Fannie, Freddie losses (AP) (Jul-12, 12:14 EDT )-- AP - GETTING MONEY BACK: A federal regulator is trying to recover some losses sustained by mortgage giants Fannie Mae and Freddie Mac on mortgage securities packaged and sold by Wall Street firms.
Ala. congressman avoids perils of anti-government backlash (Jul-12, 12:05 EDT )-- MONTGOMERY, ALA. -- For a first-term Democrat in a solidly Republican district, Rep. Bobby N. Bright did something curious on a recent weekday morning while talking to a Kiwanis Club breakfast: He spoke of the goodness of federal spending. United...
Kremlin seeks investment alliances with U.S., EU (Reuters) (Jul-12, 11:04 EDT )-- Reuters - President Dmitry Medvedev called on Monday for alliances with the United States and European Union in a new Kremlin strategy aimed at attracting investment to Russia's resource dependent economy.
What BP's Tony Hayward can learn from World Cup coaches (Jul-12, 10:55 EDT )-- I'm sorry to see the World Cup end. Not because I'm much of a soccer fan--like most Americans, I like my football with helmets, elaborate tailgates, and enough scoring to actually keep me interested. But as a student of leadership, this month-long...
Markets overreacting to soft data: Fed's Lacker (Reuters) (Jul-12, 10:51 EDT )-- Reuters - The economy remains on track for firm growth and investors should not worry too much just because a few reports have been weaker than forecast, Richmond Federal Reserve Bank President Jeffrey Lacker said on Monday.
US Fed chief urges more lending (AFP) (Jul-12, 10:35 EDT )-- AFP - Federal Reserve chairman Ben Bernanke urged lenders to open their checkbooks Monday as he warned credit conditions remained "very difficult" in the wake of the economic crisis.
Agriculture colleges sell cow herds to cut costs (AP) (Jul-12, 09:51 EDT )-- AP - The fields and long red barns at the University of Vermont will soon house fewer cows as low milk prices, high costs and budget cuts have forced the university to sell its herd.
Even These Stocks Can Pay You Back (The Motley Fool) (Jul-12, 09:42 EDT )-- The Motley Fool - Investors have gotten increasingly frustrated with companies that hoard their cash instead of putting it to better use -- like paying dividends to shareholders. But if you like a particular stock as an investment, but also need to...
Treasury links 4.5 million new hires to tax credits (Reuters) (Jul-12, 09:31 EDT )-- Reuters - The Treasury said on Monday that from February to May an estimated 4.5 million workers were hired by businesses that are eligible to receive up to $8.5 billion in tax exemptions and credits under an Obama administration stimulus program.
Bernanke says spurring credit key to rebound (Reuters) (Jul-12, 09:22 EDT )-- Reuters - Boosting credit to struggling small businesses is key to the economic recovery, Federal Reserve Chairman Ben Bernanke said on Monday.
US Fed chief urges more lending (AFP) (Jul-12, 09:15 EDT )-- AFP - Federal Reserve chairman Ben Bernanke urged lenders to open their checkbooks Monday as he warned credit conditions remained "very difficult" in the wake of the economic crisis.
Fed looks for ways to aid small business lending (AP) (Jul-12, 09:05 EDT )-- AP - Getting loans to flow more normally to small businesses is a critical ingredient to bolstering the economic recovery and reducing unemployment, Federal Reserve Chairman Ben Bernanke said Monday.
UK recession was deeper than earlier estimated (AP) (Jul-12, 08:57 EDT )-- AP - Britain's recession was deeper than estimated previously, official statisticians said Monday, as they confirmed that the economy grew by only 0.3 percent in the first three months of the year.
Gov't tries to recoup some Fannie, Freddie losses (AP) (Jul-12, 08:48 EDT )-- AP - A federal regulator is taking steps that could lead to the recovery of some losses sustained by mortgage giants Fannie Mae and Freddie Mac.
UAE's Shah gas project 40-50 percent cheaper than expected (Reuters) (Jul-12, 08:15 EDT )-- Reuters - Contracts for the UAE's $10 billion Shah gas project were 40-50 percent cheaper than expected, the chief executive of the Abu Dhabi Gas Development Company (ADGDC) said on Monday, after economic crisis made firms cut prices.
Federal Reserve worry list gets longer (Reuters) (Jul-12, 08:07 EDT )-- Reuters - The Federal Reserve's list of worries may be getting longer.
Time to Rethink Fannie and Freddie (BusinessWeek) (Jul-12, 07:08 EDT )-- BusinessWeek - As the White House pushed for a Wall Street overhaul this year, Republicans hammered Democrats for ignoring two of the biggest problems in American finance: Fannie Mae (fnm.) and Freddie Mac (fre.). The government-backed mortgage giants...
Oil falls below $76 ahead of US company earnings (AP) (Jul-12, 06:19 EDT )-- AP - Oil prices dropped below $76 a barrel Monday as the dollar strengthened and investors awaited second-quarter company earnings reports for clues about the strength of the U.S. economy.
Bank of Korea raises growth forecast to 5.9 pct (AP) (Jul-12, 01:06 EDT )-- AP - South Korea's central bank raised its forecast for the country's economic growth this year to 5.9 percent on solid exports as well as capital and consumer spending amid a stronger global recovery.
State governors face fiscal strain (Reuters) (Jul-12, 00:31 EDT )-- Reuters - State governors meeting in Boston this weekend had plenty on their minds, from the Gulf oil spill to Arizona's border security controversy. But the economy -- and another year of fiscal pain -- topped the bill.
INSIDER TRANSACTIONS (Jul-11, 23:00 EDT )-- United States - Business - San Francisco Bay Area - Security - E-Commerce
This Week, July 12-16 (Jul-11, 23:00 EDT )-- Important new information is scheduled to come out this week on retail sales, the industrial sector, consumer prices and the direction of Federal Reserve policy. Holidays - Fourth of July - Conferences - Computer Science - 2005
Face Time: D.C. area business events (Jul-11, 23:00 EDT )-- Magic Micro Intro. Learn how to create a short, memorable Twitter-length introduction that will intrigue people and help sell you to a potential hiring manager. 9:45 to 11:30 a.m., 1718 P St. NW, Suite T2, Washington. Sponsor: 40Plus of Greater...
Appointments (Jul-11, 23:00 EDT )-- Sun Design Remodeling Specialists of Fairfax County named Bob Gallagher , former chief operating officer, president, and Craig Durosko , former president, chairman. Health - Business and Economy - Health care - Government - Max Baucus
(Jul-11, 23:00 EDT )-- Mark Thornton Senior vice president, product development, and chief medical officer at Novavax, a clinical-stage biopharmaceutical company based in Rockville.
Bankruptcy court filings (Jul-11, 23:00 EDT )-- These firms recently filed with the U.S. Bankruptcy Court's local clerk of court offices. Bankruptcy - United States - Law - Services - Lawyers and Law Firms
Fund targets banks over subprime losses: report (Reuters) (Jul-11, 22:26 EDT )-- Reuters - Fund Cambridge Place Investment Partners is suing a number of banks for mis-selling a total of $2.4 billion in mortgage-backed securities, an online report by The Daily Telegraph newspaper in London said on Sunday.
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