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FedEx boosts forecast for current quarter, year (AP) (Jul-26, 17:27 EDT )-- AP - In another sign of confidence in the global economy, FedEx Corp. on Monday raised its earnings outlook for the current quarter and full year.
Home sales surge in June with inventory at 42-year low (Reuters) (Jul-26, 17:21 EDT )-- Reuters - Sales of new homes rebounded strongly in June from May's record low, pushing the number of houses on the market to the lowest level in nearly 42 years.
ResCap auction advances but hurdles remain (Reuters) (Jul-26, 17:10 EDT )-- Reuters - An auction of Ally Financial's Residential Capital has advanced into the second round, with some would-be buyers circling the assets, but a sale of the mortgage lender faces hurdles, sources familiar with the matter said.
Rates on Treasury bills mixed at weekly auction (AP) (Jul-26, 17:10 EDT )-- AP - Interest rates on short-term Treasury bills were mixed in Monday's auction, as rates on three-month bills fell and six-month bills rose.
New home sales in US emerge from record lows (AFP) (Jul-26, 15:38 EDT )-- AFP - Sales of new homes in the United States rebounded strongly in June after plunging to a record low the previous month, government data showed Monday, but economists say the market remains depressed.
Pelosi, McConnell give different views on stimulus (AP) (Jul-26, 15:26 EDT )-- AP - Democratic House Speaker Nancy Pelosi on Monday urged state lawmakers to lobby for House-passed initiatives endangered in the Senate, while Senate GOP leader Mitch McConnell complained congressional Democrats were out of touch with voters.
Global economy still needs support: Treasury (Reuters) (Jul-26, 15:21 EDT )-- Reuters - Nations must not pull back too quickly on economic stimulus because the global recovery still needs support, a top U.S. Treasury Department official said on Monday.
Bank of Hawaii 2Q profit soars; Peter Ho named CEO (AP) (Jul-26, 15:14 EDT )-- AP - Bank of Hawaii Corp. said Monday that its second-quarter profit jumped 50 percent, beating Wall Street expectations, as gradual improvement in Hawaii's economy helped the bank trim its provision for credit losses.
Summary Box: New home sales up, but sales weak (AP) (Jul-26, 14:05 EDT )-- AP - NEW HOME SALES UP: New home sales rose in June, but it was still the second-weakest month on record. The lackluster economy has made potential buyers skittish.
FTC bans 8 marketers from selling mortgage relief (AP) (Jul-26, 13:28 EDT )-- AP - Federal regulators have banned eight individuals and companies from selling mortgage-relief services, settling charges that they used false advertising to deceive homeowners facing foreclosure.
Prosecutors take aim at Blagojevich in closing arguments (Jul-26, 13:08 EDT )-- CHICAGO -- Low on money, his debts rising, then-Gov. Rod Blagojevich (D) schemed in 2008 to sell the Illinois Senate seat once held by Barack Obama and broke the law over and over, a federal prosecutor told jurors here Monday in closing arguments at...
FedEx raises outlook, cites improving economy (Reuters) (Jul-26, 13:02 EDT )-- Reuters - FedEx Corp raised its outlook on Monday due to a surge in the number of packages flowing through its air and ground networks, boosting its shares and the broader market.
A look at global economic developments (AP) (Jul-26, 12:14 EDT )-- AP - A look at economic developments and activity in major stock markets around the world Monday:
'Systemic risk' is the new buzz word as officials try to prevent another bubble (Jul-26, 11:45 EDT )-- Americans might be counting on the day when home and retirement fund values start to rise again, but anyone expecting to benefit from a future boom in prices should take note: Economic policymakers around the world are looking for ways to make sure...
Summary Box: SKorea's economic growth slows in 2Q (AP) (Jul-26, 11:37 EDT )-- AP - SLOWDOWN: South Korea's economic growth slowed in the second quarter to 1.5 percent as construction contracted and government spending weakened, offsetting gains in exports and manufacturing.
Summary Box: Japan exports rise 27.7 pct in June (AP) (Jul-26, 11:34 EDT )-- AP - GROW, GROW, GROW: Japan's exports rose for the seventh straight month in June, driven by machinery and steel products. Exports climbed 27.7 percent from a year earlier to 5.87 trillion yen ($67.2 billion).
Summary Box: China promises investors bigger role (AP) (Jul-26, 11:26 EDT )-- AP - STATE ADVANCES, SOCIETY RETREATS: China is promising private investors a bigger role in state-dominated industries like oil drilling and finance. Businesses have complained that state firms were boosted by Beijing's huge stimulus while private...
Cuba will not be rushed into reform, VP says (Reuters) (Jul-26, 10:40 EDT )-- Reuters - Cuban leaders will not be rushed into decisions about economic reforms and whatever they do will be faithful to the ideals of the Cuban revolution, Vice President Jose Ramon Machado Ventura said on Monday in a nationally televised speech.
'Tony Hayward is about to get his life back' (Jul-26, 10:37 EDT )-- Tony Hayward is about to get his life back. According to multiple news reports, the embattled CEO is expected to step down after the board discusses and approves his exit in a meeting today. One of the biggest questions many will be asking: What took...
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New home sales up, but sales remain slow (AP) (Jul-26, 09:56 EDT )-- AP - Sales of new homes jumped last month, but it was the second-weakest month on record. The lackluster economy has made potential buyers skittish about shopping for homes.
Home sales surge in June (Reuters) (Jul-26, 09:42 EDT )-- Reuters - Sales of new U.S. single-family homes rebounded strongly in June from the prior month's record low, driving the number of houses on the market to its lowest level in nearly 42 years.
FedEx boosts 1st-qtr, year earnings forecasts (AP) (Jul-26, 09:29 EDT )-- AP - In another sign of confidence for the global economy, FedEx Corp. on Monday raised its earnings outlook for the current quarter and full year.
Instant view: New home sales exceed forecasts for June (Reuters) (Jul-26, 09:28 EDT )-- Reuters - Sales of new U.S. single-family homes rebounded strongly in June from the prior month's record low, government data showed on Monday, driving the number of houses on the market to their lowest level in nearly 42 years.
EU banks could seek 25 billion euros in capital top-up (Reuters) (Jul-26, 09:15 EDT )-- Reuters - European banks who only just scraped through a health check could look for over 25 billion euros in new capital, while Spain's smaller lenders set out to reassure investors on Monday that they too can raise funds.
Chief executive of BP expected to step down (Jul-26, 07:58 EDT )-- As the first reports of the Gulf of Mexico oil-rig explosion trickled in to BP's London headquarters in April, BP chief executive Tony Hayward wondered whether to fly immediately to the United States. United States - Business - Chief executive...
Ford "cautiously optimistic" on growth: Mulally (Reuters) (Jul-26, 07:34 EDT )-- Reuters - Ford Motor Co chief executive Alan Mulally said on Monday the company was "cautiously optimistic" that it would continue to grow as the U.S. economy recovers.
China promises bigger private role in industry (AP) (Jul-26, 06:51 EDT )-- AP - China's Cabinet promised private investors a bigger role in industries from oil drilling to finance, apparently responding to complaints that state companies were boosted by Beijing's huge stimulus while private enterprise withered in the global...
Japan export growth slows; yen rise may hurt ahead (Reuters) (Jul-26, 01:13 EDT )-- Reuters - Japanese exports rose more than expected in June from a year earlier but the pace of increase slowed for the fourth straight month, a sign the economic recovery may lose steam on moderating overseas demand.
Wikileaks takes new approach in latest release of documents (Jul-25, 23:00 EDT )-- Wikileaks' decision to transfer tens of thousands of raw classified field reports on the Afghan war to the New York Times and two European news organizations reflects the growing strength and sophistication of the small nonprofit Web site, founded...
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Nonprofit health insurers holding large surpluses, consumer group reports (Jul-25, 23:00 EDT )-- Nonprofit health insurers may be setting aside unnecessarily large surpluses even as some of them continue to raise premiums, according to an analysis by a consumer rights group. Insurance - Consumer organization - Home - Health - Consumer...
Geithner presses case for renewing middle-class tax breaks (Jul-25, 23:00 EDT )-- Treasury Secretary Timothy F. Geithner took the lead Sunday in continuing the Obama administration's push for extending middle-class tax cuts while allowing similar cuts for the nation's wealthiest individuals to expire in January. United States ...
Deportation of illegal immigrants increases under Obama administration (Jul-25, 23:00 EDT )-- In a bid to remake the enforcement of federal immigration laws, the Obama administration is deporting record numbers of illegal immigrants and auditing hundreds of businesses that blithely hire undocumented workers. United States - Immigration -...
Florida communities get creative to lure back tourists scared by oil spill (Jul-25, 23:00 EDT )-- PANAMA CITY BEACH, FLA. -- Ten minutes is usually all it takes for Susan Estler to find an inviting beach scene, snap it with her iPhone camera, and blast it to roadside digital billboards from Baltimore to Atlanta. Environment - Energy - Oil...
INSIDER TRANSACTIONS (Jul-25, 23:00 EDT )-- -- Thomson Financial Sports - Teams - United States - Security - Stock
Bankruptcy court filings (Jul-25, 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
Residents of Bell, Calif., protest officials' high salaries (Jul-25, 23:00 EDT )-- Hundreds of angry residents of Bell, Calif., marched to the homes and businesses of city officials of the modest blue-collar Los Angeles suburb Sunday in a protest sparked by the sky-high salaries of three recently departed administrators. Bell -...
Insider Transactions: Appointments (Jul-25, 23:00 EDT )-- CSC of Falls Church named Debbie Granberry vice president of business development for its North American public sector civil and health services group; Kristine A. Burnell vice president of business development for its North American public sector...
GOP lawmakers optimistic about 'no' votes (Jul-25, 23:00 EDT )-- In February, when unpredictable Sen. Jim Bunning single-handedly stalled extensions of unemployment benefits for several days, his Republican colleagues quickly abandoned him, worried that the GOP would be cast as the party against helping people who...
Facetime: Business workshops in and around Washington (Jul-25, 23:00 EDT )-- MONDAY Business Etiquette and People Skills for Job Searching and Career Advancement. Learn the power of modern manners in your job hunt and career progress. 9:45 to 11:30 a.m., 1718 P St. NW, Suite T2, Washington. Sponsor: 40Plus of Greater Washington...
The Fix: For rich candidates who invest in themselves, no reliable returns (Jul-25, 23:00 EDT )-- Even as the public's disdain for politics and politicians rises to historic levels, a new crop of millionaires -- and billionaires -- is spending freely from their fortunes in hopes of winning elected office. United States - The Fix - Politics -...
Chief executive of BP expected to step down (Jul-25, 23:00 EDT )-- As the first reports of the Gulf of Mexico oil-rig explosion trickled in to BP's London headquarters in April, BP chief executive Tony Hayward wondered whether to fly immediately to the United States. United States - Business - Chief executive...
Japan Noda warns on debt pile in budget battle (Reuters) (Jul-25, 22:05 EDT )-- Reuters - Japan's government cannot continue to rely on excessive bond issuance to fund fiscal spending, the finance minister warned on Monday, as ruling Democratic Party officials wrangle over spending for the next fiscal year.
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