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Banks win ruling in Madoff trustee lawsuits

Banks accused of failing to detect Bernard Madoff's fraud won a victory in a U.S. federal court, as a judge said the trustee seeking money for victims of the Ponzi scheme could not pursue many of his claims.
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Community Health profit tops forecasts, stock up

Community Health Systems Inc (CYH.N), the second-largest U.S. hospital operator, beat analysts' second-quarter earnings expectations on higher operating revenue, sending its shares up more than 6 percent in after-hours trading.
Speaker of the House John Boehner spekas during a news conference on Capitol Hill

Vote delayed on debt bill as default date looms

A Republican deficit reduction plan headed for two major votes in Congress on Thursday and its expected demise could force a compromise to avert an imminent and unprecedented debt default.
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S&P: Deficit cuts of $4 trillion a good start

Cutting the U.S. deficit by some $4 trillion over 10 years would be a good start, but more savings would be needed over time to bring the country's finances under control, ratings agency Standard & Poor's said on Thursday.
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Starbucks profit up on more visits

Starbucks Corp raised its fiscal year forecast above analysts' estimates after its relatively well-heeled customers visited more often and shook off price increases in the latest quarter.
Display of Colgate toothpaste is seen on store shelf in Westminster

Latin America helps Colgate, Avon during U.S. slump

Big gains in Latin America covered up U.S. declines at Colgate-Palmolive Co (CL.N) and Avon Products Inc (AVP.N), with the world's largest direct seller of cosmetics seen as having a harder road to recovery.
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Muni issuers put on notice that fate tied to U.S.

Scores of issuers in the U.S. municipal bond market, including cities, counties and school districts, were put on notice on Thursday by Moody's Investors Service that their top ratings could be cut if the United States' Aaa rating falls.
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China pork buying talk lifts hogs

U.S. hog futures advanced on Thursday on renewed talk China may be seeking more U.S. pork, record high wholesale pork prices and higher live cash hog markets in the U.S. Midwest.
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Tylenol Recommended Maximum Daily Dose to Be Lowered

McNeil Consumer Healthcare will reduce the maximum recommended dose of its painkiller Tylenol to reduce the risk of accidental overdose and liver damage caused by acetaminophen, according to a press release.
Analysis: The politics behind Boehner's two-step debt hike

Boehner: has no control over possible downgrade

House of Representatives Speaker John Boehner, the top Republican in Congress who has put forward a deficit reduction plan to be voted on later Thursday, said he had no control over whether his bill would avert a credit downgrade.
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Flu "super antibody" may bring universal shot closer

Scientists have found a flu "super antibody" called FI6 that can fight all types of influenza A viruses that cause disease in humans and animals and say their discovery may be a turning point in the development of new flu treatments.
At Issue: U.S. Economy

What Happens If U.S Budget Is Cut Too Much?

To be sure, long-term, the U.S. budget deficit must be eliminated. But if policy makers cut federal spending too much, too soon during a period of weak demand, the result will be another recession.
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Thomson Reuters margins rise; CEO seeks to reassure

Thomson Reuters Corp Chief Executive Tom Glocer said the company was coming to grips with the problems that led to a management shakeout last week, as he sought to allay investor concerns centered on its new flagship product for financial markets.
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Madoff trustee in $1 billion settlement with Tremont

The trustee seeking money for victims of Bernard Madoff's fraud reached a more than $1 billion settlement with Tremont Group Holdings Inc, one of the largest feeders of customer funds into the Ponzi scheme.
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Senate panel schedules Google antitrust hearing

The Senate's antitrust panel has scheduled its hearing on Google Inc's use of its considerable market clout for mid-September, the Senate Judiciary Committee said in a brief statement on Thursday.

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