U.S. recession seen ending in Q3
The worst U.S. recession since the Great Depression will probably end in the third quarter, but there is uncertainty over the speed and duration of the economic recovery, according to the most recent survey of private economists. Ready Full Article here
Rio Tinto shares drop on China spy allegations
Shares in global miner Rio Tinto Ltd fell more than 3 percent on Monday after a Chinese magazine published additional spying allegations against the company. Ready Full Article here.
Nortel loss balloons, CEO to step down
Nortel Networks said on Monday its chief executive will step down immediately and its board will shrink from nine directors to just three as the bankrupt telecom equipment maker sheds major assets. Read Full Article here.
Electric car future may power a charging industry
As makers from Tesla to Nissan Motor Co jockey to dominate the next generation electric-powered cars, a fight on which companies will control the lucrative market to fuel them is just getting started. Read Full Article here.
McDonald's same-store sales rise
McDonald's Corp said sales at its U.S. restaurants open at least 13 months rose 2.6 percent in July, aided by its new McCafe espresso-based coffee drinks, sending its shares up nearly 2 percent in premarket trading. Read Full Article here.
Hormel raises 2009 view on strong third quarter
Hormel Foods Corp raised its fiscal 2009 earnings forecast on Monday, citing a stronger-than-expected third quarter. Read Full Article here.
Ethanol industry wants U.S. cars alt-fuel ready
The ethanol industry called for requirements that all vehicles sold in the United States accept the renewable gasoline substitute as part of a push to slow global warming and provide jobs at home. Read Full Article here.
Japan's Toshiba joins Blu-ray camp, post-HD-DVD
Japan's Toshiba Corp said on Monday that it will join the Blu-ray Disc Association -- its former enemy in a bitter format war -- to make blu-ray players by year-end to tap demand for high-definition home movies. Read Full Article here.
World's first wireless pacemaker gives patient new freedom
After relying on a pacemaker for 20 years, Carol Kasyjanski has become the world's first recipient of a wireless pacemaker that allows her doctor to monitor her health from afar -- over the Internet. Read Full Article here.