UNITED STATES

Lehman Brothers Holdings, Inc is replacing a pair of its top level managers in the same week it announced an expected $2.8 billion loss for the second quarter.

US coffee chain Starbucks has announced its intentions to open 150 new outlets in Britain, France and Germany in the next three years in a deal with SSP. SSP is a UK group which runs Burger King and Pizza Hut stores.

The gaming rooms at Monaco’s famous Monte Carlo Casino resonate with people trying their luck at the baccarat, poker, and craps tables. No one knows who will break the bank or who will go home broke. Although wise gamblers

The dollar was steady against the yen on Tuesday after Federal Reserve chief Ben Bernanke said risks to the U.S. economy had decreased and signaled a willingness to fight inflation.

Fitch Ratings downgraded MGIC Investment Corp and PMI Group on Thursday, citing the stressful mortgage environment, and has become more pessimistic on its outlook for the mortgage insurance sector.

US banking giant, Bank of America, is free to take over the country's biggest mortgage lender, Countrywide Financial after gaining the Federal Reserve's approval.

Gold futures fell to its lowest level in three weeks on Thursday; dropping more than $21 an ounce, on speculation the U.S. will increase interest rates in order to protect the dollar which dampened the demand for the precious metal as an alternative investment.

Ford Motor Co. said Thursday it will cut salaried employee costs by 15 percent by August 1 and some people will loose their jobs.

Spot gas at most market locations (outside the Rocky Mountain Region) traded above $10 per million Btu (MMBtu) this report week (Wednesday-Wednesday), with many points registering prices in excess of $12 per MMBtu.

Crude oil futures climbed on Thursday as the dollar fell on speculation that the European Central Bank may raise interest rates next month, pressured by inflation.

Novartis AG said Thursday the U.S. Food and Drug Administration approved the osteoporosis drug Reclast which prevent new fractures in patients following a hip fracture.

U.S. stocks gained on Thursday, with all three indexes gaining at least 1 percent as May sales at Wal-Mart Stores Inc. and Costco Wholesale Corp. beat analysts' estimates while jobless claims fell, boosting expectations that consumer spending will increase the retailers profits.

Continental Airlines said Thursday it will cut 3,000 jobs, or 6.7 percent of its 45,000 employees; retire 67 mainline aircraft; and reduce mainline flights because of soaring fuel costs, making it the second major airline this week to announce cutbacks.

U.S. office supplies giant Staples Inc. said late Wednesday that its subsidiary Staples Acquisition B.V. has entered into agreements to buy an additional 12.3 percent of Corporate Express NV's shares in its hostile bid for the Dutch office products company.

U.S. stocks were mixed Wednesday afternoon after Moody's said it may be forced to downgrade the credit ratings on MBIA Inc and Ambac Financial.

Softbank Mobile Corp. and Telefonica SA announced on Wednesday they have reached deals to sell the Apple iPhone device later this year in Japan and Spain respectively.

Amid soaring crude oil prices and weak demand, General Motors, Toyota, Ford, and Chrysler reported declining sales in May but Honda sales jumped.

HLTH Corp., a provider of health information services, said Tuesday that it agreed to sell its ViPS segment to General Dynamics Information Technology, Inc., a wholly-owned subsidiary of General Dynamics Corporation (NYSE:GD) for $225 million in cash.

Copper futures ended with losses on Tuesday on fears of slowing demand from China and gains in the dollar after comments by Federal Reserve chief Ben Bernanke.

Five deaths and 720 adverse reactions in the U.K. were linked to the anti-obesity drug Acomplia made by Sanofi Aventis SA, said a regulator in the country.

U.S. stocks fell for a second day Tuesday with increasing speculation that Lehman Brothers Holdings Inc. will be forced to raise more capital led a slump in financial shares.