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Federal-Mogul quarterly profit drops sharply

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Auto parts maker Federal-Mogul Corp (FDML.O) posted a sharp drop in quarterly profit on Thursday, but reported substantial progress from earlier in 2009 as it cut costs to address the economic downturn and production cuts by its automaker customers.

Oil bounces above $64

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Oil rose above $64 a barrel on Thursday, boosted by stock markets in Europe and Asia, better than expected corporate results and data suggesting the economic downturn was bottoming out.
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Goodyear posts loss, but tops expectations

Goodyear Tire & Rubber Co (GT.N) posted a loss on Thursday that was smaller than analysts had expected as the downturn in the North American and European economies pressured results.
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Green states to get few rewards in U.S. climate bill

The U.S. climate bill would give states that are heavily reliant on greenhouse-gas emitting fuels, like coal, more carbon credits on a per capita basis than those that use clean fuels, according to an analysis of the legislation released on Wednesday.
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U.S. jobless claims rise slightly above forecasts

The number of U.S. workers filing new claims for jobless benefits rose slightly more than expected last week, but a gauge of underlying labor trends fell for a fifth straight week, government data showed on Thursday.
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Daily Commentary - 30/07/2009

After attempting to retest the 83 cent handle in early Asian trade yesterday the Aussie dollar ran into some resistance, peeling back to settle around 0.8250 during the afternoon. Early European investors however sold the high yielder after concerns about the Japanese economy following the country's poor Retail Trade data, a much lower than expected German CPI reading and sharp declines in commodity prices.
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U.S. trust in business bounces back from low

Trust in business has rebounded from 10-year lows in the United States, but the majority of Americans still do not count on corporate America to do what is right, according to a survey released on Thursday.
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Car and truck maker results weak, see upturn

Automakers in Europe and Japan unveiled weak results for the first half of the year on Thursday and are set to keep tight control over costs but most predict an improvement in conditions for rest of 2009.
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NYSE Euronext cuts jobs, as Q2 profit drops

Transatlantic exchange group NYSE Euronext on Thursday said it planned to cut 290 jobs in Europe and the U.S. as second-quarter earnings before one-off items dropped 34 percent to $132 million.
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Car and truck maker losses mount, outlooks steadier

French carmaker Renault on Thursday posted a worse-than-expected loss on for the first half in line with results at its European rivals as auto sales fell sharply but it said the outlook is stabilizing.
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Sony posts loss on firmer yen, weak TVs

Sony Corp posted a quarterly operating loss as a stronger yen and weakness in its TV business countered the impact of cost cuts and the company retained its outlook for an annual loss.
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Asian shares steady after bruising; oil pauses

Asian share markets were largely steady on Thursday, struggling to regain multi-month highs, while Shanghai shares see-sawed after a 5 percent sell-off the previous day that sent other markets reeling.
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Foxconn suicide turns spotlight on counterfeiting

One week after the apparent suicide of a Chinese factory worker accused of stealing a carefully guarded Apple iPhone prototype, one question remains unanswered: what happened to the missing phone?
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Oil dips towards $63 on US crude build, China fears

Oil eased toward $63 a barrel on Thursday, after sliding almost 6 percent the day before on data showing a jump in U.S. crude stocks, while the market kept an eye on measures by China to manage credit growth.
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Phone call to NYSE set off Braikan fraud probe

A phone call to the New York Stock Exchange from an investor worried that he'd just been duped helped spark a chain of events early last week that led U.S. authorities to file fraud charges against a Kuwaiti financier, who was later found dead in his home.
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Welcome to Florida Keys

Welcome to the Florida Keys, a string of islands, which when connected by route US 1, provide passage to the southernmost point in the United States.

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