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NYU?s Nouriel ?Dr. Doom? Roubini: Better Than 50% Chance of U.S. Recession

U.S. and Global Economies
One of the world's leading economists says don't get giddy over the July jobs report, which indicated the U.S. economy created a better-than-expected 117,000 jobs. NYU Professor Nouriel "Dr. Doom" Roubini, who accurately predicted the housing crisis four years ago, says U.S. GDP will be sub-par in 2011 and the risk of a recession is real.

July payrolls rise soothes recession fears

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U.S. job growth accelerated more than expected in July, tamping down fears the economy was sliding into a fresh recession and giving the Federal Reserve some breathing room.
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Apple vs. Samsung: The Legal Battle

In one of the world's biggest lawsuits, Apple Inc has sued Samsung Electronics for slavishly copying the 'look and feel' and 'design' of its products iPad tablet and iPhone smartphone. Both Samsung and Apple entered into a legal battle over patent infringement in the month of April 2011. Samsung counter sued Apple in 4 countries in 3 different continents.
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Japan signals readiness to intervene again; market jittery

Japan's finance minister said he was closely watching yen moves on Friday, signaling a readiness to continue selling the currency after intervention on Thursday that likely totaled a record amount around 4.5 trillion yen ($56 billion).
Traders work on the floor of the New York Stock Exchange

Economy, Euro Zone Crisis Batter Stocks

World stocks sank for an eighth straight session of losses on Friday, with investors racked by worries about the slowing global economy and the dangerous spread of euro zone debt anguish into Italy and Spain.
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China, Japan urge global talks on economic crisis

China and Japan called for global cooperation on Friday after a financial market rout signaled fear that Europe's debt crisis could spin out of control and the U.S. economy may slide into another recession.
Australia's Adam Scott listens to his caddie, Steve Williams, on the 13th fairway during the first round of the WGC Bridgestone Invitational PGA golf tournament at Firestone Country Club in Akron

Scott in charge at Firestone, Woods opens with 68

Australian Adam Scott birdied four of his last six holes to grab a one-shot lead in the WGC-Bridgestone Invitational first round Thursday as Tiger Woods made an encouraging return to competition.
Tapped Out?

Oil dives on risk retreat, year's gains erased

Oil tumbled as much as 6 percent on Thursday, with U.S. crude crashing through technical support to its lowest since February as mounting fears of a stalled economy set off a global race from riskier assets.
A Trader works on the floor of the New York Stock Exchange

Buyers ditch usual optimism after Wall Street mauled

After the terrible rout in markets on Thursday investors spoke of holding fast and even poking around for buying opportunities, but that's hard when the market is likely facing another weak U.S. jobs report on Friday.
A trader works on the floor of the New York Stock Exchange

World equities reel towards 8th day of losses

World stock markets fell for the eighth straight session on Friday to the lowest since late 2010, with more losses feared if policymakers do not come to the rescue soon to stabilize the euro zone's debt crisis and prevent the U.S. economy from sliding back into recession.
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Payrolls awaited as markets fear recession

Jobs data on Friday could prove a make-or-break moment for global financial markets increasingly alarmed that the world's largest economy could skid into a fresh recession.
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Key quotes from Japan policymakers on yen, economy

Japanese Finance Minister Yoshihiko Noda on Friday repeated that he was closely watching yen moves, signalling Tokyo's readiness to continue with its yen-weakening intervention that media said reached a record 4 trillion yen ($50.6 billion).
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Brazil auto market picks up again in July

Automobile production in Brazil rose 3.9 percent BRAOPM=ECI and sales increased 0.6 percent BRASLM=ECI in July from June, the national automakers' association said on Thursday.
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Total Fear in Market Since 2008 Recession

Investors fled Wall Street in the worst stock-market selloff since the middle of the financial crisis in early 2009 in what has turned into a full-fledged correction.The Dow and the S&P tumbled more than 4 percent on Thursday and the Nasdaq lost 5 percent on fear the United States is staring at another recession and that Europe's sovereign debt crisis is swallowing two of its largest economies.
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GM profit nearly doubles, slowdown risk ahead

General Motors Co's quarterly profit shot past Wall Street expectations, but its share price slipped as investors focused on the risks of a sputtering economy and resurgent Japanese rivals.
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Sony?s New PlayStation Vita Release Date Pushed Back in U.S.

Sony announced Thursday that it will not release the new PlayStation Vita in both the United States and Europe until next year. This means the new gaming system will not reach store shelves for the ever approaching holiday shopping season.

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