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Mid-day Minute - August 10 Tech

Nortel Networks said on Monday its chief executive will step down immediately and its board will shrink from nine directors to three as the bankrupt telecom equipment maker sheds major assets. Nortel, once North America's biggest maker of telephone gear, also posted a bigger quarterly loss due to big reorganization costs and plunging sales, which it blamed on the weak economy.

Oil prices edge above $71 a barrel

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Oil prices edged above $71 a barrel on Monday as traders eyed directionless equity and currency markets for guidance on the eve of a meeting of the U.S. Federal Reserve.
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AIG shares extend gains after profit

Shares of AIG, the beneficiary of a $180 billion U.S. government bailout, rose as much as 10 percent on Monday morning, extending strong gains last week, as the insurer returned to a profit in the second quarter, ending a six-quarter run of losses.
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Dish Network profit falls; net subscribers rise

Dish Network Corp , the second largest U.S. satellite TV operator, posted a fall in quarterly profit, hurt in part by expenses tied to a litigation with TiVo Inc , but reported its first quarterly net subscriber rise in more than a year.
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India inspects North Korea ship for nuclear material

Indian authorities were inspecting a North Korean ship detained in the Bay of Bengal for nuclear material or fuel, officials said on Monday, the latest sign of the international noose tightening around the North.
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Fortinet files for $100 mln IPO

Network security provider Fortinet Inc filed with U.S. regulators on Monday to raise up to $100 million in an initial public offering of common stock.
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Oil slips below $71

Oil prices edged above $71 a barrel on Monday, drawing some support from the possibility of the first tropical cyclone of the hurricane season, but gains were capped by prospects for a stronger dollar.
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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.
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Electric car future may power a charging industry

As makers from Tesla to Nissan Motor Co (7201.T) 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.
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U.S. recession to end in third quarter: survey

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.
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Dish Network profit falls

Dish Network Corp , the second largest U.S. satellite TV operator, on Monday posted a fall in quarterly profit, hurt in part by expenses tied to a litigation with TiVo Inc .

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