UNITED STATES

Japan finmin refrains from launching leadership bid

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Japan's Finance Minister Yoshihiko Noda postponed a reported plan to announce on Tuesday his bid to replace unpopular Prime Minister Naoto Kan, saying he would focus on confronting global financial market turmoil.
Bach and Gunawan

Bad Start for US in London World Badminton Championship

The U.S. contingent in the World Badminton Championship in London suffered a jolt on the opening day of the tournament Monday as the American players lost their five out of six matches. In the very first match Men's Doubles pair of Howard Bach and Tony Gunawan lost to Malaysia's Mohd Zakry Abdul Latif and Thien How Hoon 17-21, 14-21.
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China July inflation picks up, piling pressure on PBOC

China's annual inflation rose to a higher-than-expected 6.5 percent in July, putting the central bank in a bind as it tries to keep prices in check without dragging down an economy facing increasing threats from abroad.
Tiger Woods of the U.S. tees off on the second hole during the final round of the WGC Bridgestone Invitational PGA golf tournament at Firestone Country Club in Akron

PGA Championship wide open in uncertain Tiger era

With a list of potential major winners unprecedented in depth and doubts over whether Tiger Woods will ever regain his former dominance, this week's PGA Championship is wide open for the taking.
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Take-Two misses Street, downplays NBA concerns

Video game publisher Take-Two Interactive Software Inc missed Wall Street estimates because one of its games failed to connect with audiences, but it downplayed concerns the NBA lockout would hurt its top-sports title.
Currencies

Swiss franc surges as market confidence dives

The Swiss franc hovered near record highs against the dollar and euro in Asia on Tuesday, having surged on the back of a global stock market rout as a crisis of confidence gripped investors.
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Shopkick partners with Disney, other big brands

Shopkick Inc, a mobile commerce company backed by Kleiner Perkins, Greylock Partners and LinkedIn founder Reid Hoffman, has signed 12 major brands to its location-based shopping app, said co-founder Jeff Sellinger.
U.S. Chinook helicopters leave after a security handover ceremony in Panjshir province

Taliban's Downing a NATO Helicopter Doesn't Signify Momentum: Pentagon

The Taliban's downing a NATO Chinook Helicopter in Afghanistan on Aug. 6, killing 30 U.S. special operations troops, doesn't signify the group is gaining momentum, an official said. A Pentagon spokesman on Monday said the incident isn't a "watershed" implying the insurgents' momentum, rather an incident in combat.
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Wall Street sinks on S&P downgrade, economic worry

Investors fled stocks on Monday in the first session since Standard & Poor's cut the AAA credit rating of the United States, adding to worry about the economic outlook and Washington's ability to meet the challenges.
At Issue: U.S. Monetary Policy

With Markets, Economy Reeling, All Eyes Turn to Fed

The U.S. Federal Reserve will announce its monetary policy Tuesday following an unprecedented downgrade of the U.S.Government's credit rating by Standard & Poor's and the markets will likely look to Fed Chairman Ben Bernanke to provide appropriate comments on the state of the nation's banking system and its fiscal condition.

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