Daily Wrap Up - July 27 - Energy
President Barack Obama held the first day of talks with a Chinese delegation in Washington D.C. to address economic issues including energy related topics. During remarks on Monday, Obama said China and the United States have an interest in creating clean and secure energy sources, according to the Associated Press. He added that neither country profits from a dependence on foreign oil. He also said neither any will be able to fight climate change unless they work together.
Alexis Cohen killed in car accident, man arrested
Alexis Cohen, best known as a two-time American Idol contestant was killed on Saturday morning from a hit-and-run car accident.
Starbucks says will says will make 401(k) match for 2009
Starbucks Corp will make voluntary matching contributions to 401 retirement plans for its 2009 plan year, Chief Executive Howard Schultz said in a memo to employees on Monday.
Derivatives bill to clamp down on speculation
Congress will consider steps to curb speculation in the $39 trillion credit default swaps market and could prohibit investors from speculating on a borrower's credit quality, according to a U.S. House of Representatives Committee document obtained by Reuters.
Reaching Greece by Sailing
Aphrodite and the skeletal remains of her love Temples were painted in neon and hung prominently on the broad beige wall across the lounge.
Financials lift Wall St. in late rally
Stocks rose slightly on Monday in a late rally as investors rotated into financial shares, which had lagged in the recent two-week rally.
Bank shares lift Wall St. late in session
Stocks rose late to finish Monday's session with a small gain following two strong weeks as investors bought bank shares that had lagged in the recent rally.
Erotic Madonna tapes, Hendrix contract in NY sale
Rock legend Jimi Hendrix's first recording contract worth $1 and erotic audio and video tapes sent by Madonna to her old bodyguard went on sale in an online auction on Monday.
Former AXA broker barred by FINRA for Ponzi scheme
A former AXA Advisors LLC broker was permanently barred from the U.S. securities industry for running a more than $600,000 Ponzi scheme whose victims included members of his own church, the Financial Industry Regulatory Authority said.
Cash for Clunkers kicks off, appeals to most auto dealers (FULL INFO)
The cash-for-clunkers program, which kicks off Monday, has created tremendous interest as almost 16,000 auto dealers or 80 percent of the nation's new vehicle sellers have signed up to participate on it, Bloomberg reported today citing Ray LaHood, Secretary of the U.S. Department of Transportation.
Starbucks to match 401k but health benefits costlier
Starbucks Corp will make discretionary matching contributions to 401 retirement plans for its 2009 plan year but employees will face higher health-care costs, Chief Executive Howard Schultz said in a memo to employees on Monday.
Suu Kyi faces final judgments
A court in Myanmar heard final arguments Monday on trial of democracy leader Aung San Suu Kyi who would be sentenced to prison for five years if found guilty of breaching a security law.
EBay to highlight top sellers to galvanize retail
EBay Inc will slash fees by 20 percent for its top-rated sellers and push their listings higher up in the search queue, part of steps to try to rev up its long-stagnant Marketplaces arm.
Résumé faux pas and fixes
In response to the extraordinary number of candidates sending their résumés to the ‘Dear Sam' mailbox, seeking insight into why they are not getting calls for interviews,
U.S. Rep. Frank sees regulatory reform by year-end
The chairman of the House of Representatives financial services committee said on Monday that Congress can complete a regulatory reform overhaul by the end of this year.
SEC battles “naked short selling,†makes promptness rule permanent
Seeking to reduce market manipulation, U.S. securities regulators today made permanent a temporary rule to reduce the potential for abusive “naked short selling.â€
Wall St dips after rally; banks up on data
Stocks edged lower on Monday as corporate results from companies, including Verizon and Honeywell International , failed to entice investors following two weeks of gains that lifted all major indexes about 11 percent.
Obesity costs U.S. health system $147 billion: study
Obesity-related diseases account for nearly 10 percent of all U.S. medical spending or an estimated $147 billion a year, researchers said on Monday.
Nortel and RIM held wireless patent talks: source
BlackBerry maker Research In Motion has held talks with Nortel Networks on buying next-generation wireless patents that were not part of Nortel's $1.13 billion wireless asset sale on the weekend, a source familiar with the situation said on Monday.
AIG renames property-casualty arm ahead of sale
Troubled insurer American International Group Inc rebranded its property-casualty business under the name Chartis on Monday, and took a step toward selling at least part of the business.
U.S. vows to be passive investor in GM, Chrysler
The U.S. Treasury will not step in to influence management decisions at General Motors Co and Chrysler LLC after providing the automakers with some $70 billion in financing to restructure in bankruptcy, a White House adviser said on Monday.
Costas launches boutique bank
John Costas, who helped make UBS AG into one of the world's biggest investment banks, wants to build a lasting Wall Street player -- and put the 2007 demise of hedge fund Dillon Read Capital Management behind him.
Ericsson sees robust margin at Nortel unit
Telecoms equipment maker Ericsson said on Monday it expected the wireless business set to be acquired from Nortel to produce a double-digit operating margin this year.
Hidden from sight, debt creeps up on China
On the surface, China presents a fiscal study in contrast with the United States, keeping a remarkably low ceiling on debt even as it spends its way out of the financial crisis.
Option Trade of the Day!
December Gold- Our charts are showing that the market could and should attempt to take out the 1,000 level in the next few weeks or at least months.
Nortel, RIM in wireless patent talks: source
BlackBerry maker Research In Motion has held talks with Nortel Networks on buying next-generation wireless patents that were not part of Nortel's $1.13 billion wireless asset sale on the weekend, a source familiar with the situation said on Monday.
RadioShack shares fall on dim sales prospects
Cost-cuts helped RadioShack Corp beat estimates in the second quarter, but its shares fell 8 percent on fears the electronics retailer might not be able to sustain profits by merely controlling expenses.
Western Digital Ships 1TB Laptop Hard Drive
Western Digital on Monday has begun shipping its first 1TB Serial ATA hard disk drive for $250 with 333GB per platter technology.
Wall St slips as weak results spur profit-taking
U.S. stocks declined on Monday as disappointing reports from Verizon and Aetna Inc prompted profit taking after the Dow and the S&P 500 touched 8-month closing highs.
Aetna cuts forecast on medical costs, shares fall
Aetna Inc slashed its full-year earnings forecast on Monday because of higher-than- projected medical costs, sending its shares down more than 5 percent as the health insurer also posted a 28 percent drop in second-quarter net income.
