UNITED STATES

Oil above $60 as global equities rally

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Oil prices rose by around $1 dollar to above $60 on Tuesday as renewed confidence across financial markets helped to reverse some of last week's falls.

Samsung-Bosch battery venture buys U.S. Cobasys

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SB LiMotive, an electric vehicle battery joint venture between South Korea's Samsung SDI and Germany's Robert Bosch, is acquiring U.S. battery maker Cobasys, Samsung SDI said on Tuesday.
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Goldman profit soars past estimates

Goldman Sachs Group Inc reported a 33 percent rise in quarterly earnings Tuesday on strong trading results, continuing an extraordinary rebound from the near meltdown of the U.S. financial sector last fall.
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Geithner sees confidence return, supports dollar

U.S. Treasury Secretary Timothy Geithner said on Tuesday he saw signs of confidence returning to the U.S. financial sector and pledged that the United States would pursue policies that preserve the dollar's value.
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Daily Outlook - July 14 - Energy

U.S. Energy Secretary Steven Chu and Commerce Secretary Gary Locke arrive to China to stay through July 17 to highlight the potential for mutually beneficial relationships in the clean energy sector.
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Geithner says recession easing, U.S. on the mend

U.S. Treasury Secretary Timothy Geithner said Tuesday aggressive efforts to counter a global financial crisis were starting to work and acknowledged the United States had a special duty to help spur a recovery.
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Asian stocks benefit from better mood on banks

Asian stocks bounced on Tuesday as a rally in U.S. financial shares helped Japan break a long losing streak, while also reversing some of the recent safe-haven rush into the yen and sovereign bonds.
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Blockbuster, Samsung set on-demand video pact

Blockbuster Inc on Tuesday announced an agreement that allows consumers to instantly view movies and video from its OnDemand service on Samsung's televisions and electronics devices.
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June budget gap $94.32 billion, record for June

The U.S. government rang up a $94.32 billion budget deficit in June, a record for the month, as the price tag for efforts to prop up the economy, banks and automakers mounted while revenues weakened.
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Asian shares find relief in Wall St rally

Asian stocks bounced on Tuesday as a rally in U.S. financial shares helped Japan break a 10-session losing streak, while also reversing a little of the recent safe-haven rush into the yen.
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US Fixed Income Report 7/13

US TREASURIES reversed from the recent highs on Monday after equities posted a strong rebound from overnight lows after Goldman Sachs received a strong buy recommendation based upon expectation of the leading Wall Street firm posting better than expected earnings driven by record breaking revenues from its trading activities.
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Lawmaker seeks more data in BofA-Merrill deal

A U.S. Republican lawmaker involved in a congressional probe of government influence over Bank of America's purchase of Merrill Lynch has asked for more documents from the Treasury Department and the New York State Attorney General to shed light on government intervention in the banking system.
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New heart disease test could add to cancer toll

Using a relatively new way to test for blockages in the heart's arteries as a general screening exam could lead to more than thousands of new cases of cancer in the US, according to a new study in the Archives of Internal Medicine.
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Study may prompt rethink on schizophrenia drugs

Schizophrenia patients given a cheap older drug are less likely to die prematurely than people on newer treatments, despite the older product's well-known adverse side effects, Finnish researchers said on Monday.
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Obama seeks to regain initiative on healthcare

A combative President Barack Obama on Monday sought to regain the initiative on overhauling the U.S. healthcare system after legislation slowed down in the U.S. Congress while he was abroad last week.
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Madoff on his way to 150-year prison cell

Jailed author of the biggest Ponzi scheme in U.S. history is on his way to the prison where he will serve his 150-year jail sentence a U.S., a prison official said.

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