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Fed's Plosser: U.S. housing sector warrants monitoring

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The weak U.S. housing sector warrants close attention to assess the economic outlook as well as its recent disruptive effects on financial markets, Philadelphia Federal Reserve Bank President Charles Plosser said on Saturday.

Blackstone agrees to buy 20 percent of China BlueStar

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Blackstone Group has agreed to buy 20 percent of chemical maker China National BlueStar (Group) Corp for up to $600 million, the private equity groups said on Monday, marking its first major investment in the fast-growing market.
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Petraeus, Crocker to assess Iraq surge in Congress

Gen. David Petraeus, the top U.S. military commander in Iraq, is due to assess on Monday whether President Bush's move to add 30,000 troops in Iraq this year has succeeded - and what troop levels are needed going forward.
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Petraeus to argue against big Iraq troop cuts

In a report considered crucial to U.S. strategy in the highly unpopular war in Iraq, the top U.S. commander there is expected to tell Congress on Monday that U.S. troop levels should not be cut deeply.
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American Idol finally clinches an Emmy

With a dash of charity and some posthumous help from Elvis Presley, smash hit American Idol clinched its first Emmy in six years on Saturday to avoid becoming the biggest loser in the history of U.S. television's highest honors.
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India fashion event competes with New York

One of India's premier fashion events may be bigger and better than ever before but the decision to conduct it the same week as the prestigious New York Fashion Week seemed to have ruffled a few feathers.
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Most OPEC oil ministers hold line, Saudi silent

Most OPEC oil ministers held the line on Sunday that current output is sufficient to meet demand, but the world's biggest exporter Saudi Arabia was silent ahead of a September 11 meeting to chart production policy. The group that supplies more than a third of the world's oil will consider conflicting economic signals at Tuesday's talks when it sets production levels for peak winter demand.
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APEC leaders urge speedy Doha trade deal

Asia-Pacific leaders said on Sunday they saw real progress in world trade talks now underway in Geneva and pledged flexibility and the political will to forge a deal by the end of 2007.
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Will stocks sink or swim after jobs data?

Friday's news of a buckling U.S. job market sent stock investors running for the exits, and this week promises to be no less stressful as investors grapple with the increasing possibility of an economic recession.
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Gold hits 16-month high above $700

Gold hit a 16-month high above $700 per ounce on Friday, boosted by a falling dollar after U.S. data showing a surprise contraction in U.S. non-farm payrolls for the first time in four years.
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Dollar hits 15-year low after sharp drop in payrolls

The dollar slid to a 15-year low against major currencies on Friday as data showed U.S. payrolls fell last month for the first time in four years, raising recession fears and pressure for the Federal Reserve to cut interest rates.
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Palm, Motorola seen most hurt by iPhone price cut

Apple Inc's hefty iPhone price cut pits it in direct competition with handsets from Motorola Inc and Palm Inc, which are struggling to convince Wall Street they can turn around their aging brands.
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JPMorgan Chase to hire 150 Nelnet loan workers

JPMorgan Chase & Co, which has one of the largest U.S. student lending operations, said on Friday it will hire up to 150 Indianapolis-based workers from Nelnet Inc to expand its loan-origination operations.
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IndyMac Bancorp to cut 1,000 jobs

IndyMac Bancorp Inc, one of the largest independent U.S. mortgage lenders, plans to cut 1,000 jobs and halve its dividend, and may report a third-quarter loss, as loan volumes decline and credit markets remain tight.
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APEC draft climate statement seen a compromise

Asia-Pacific officials agreed on Friday to a draft climate statement which reaffirms a U.N. treaty on fighting global warming, while urging non-binding aspirational targets for greenhouse gas reductions, a delegate said.
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U.S. Officials say job fall won't stall economy

Bush administration officials on Friday sought to ease fears the U.S. was tipping into recession after a government report showed the economy shed jobs for the first time in four years last month.
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Paulson: job fall not a shock, economy healthy

Treasury Secretary Henry Paulson on Friday said he was not totally surprised about the decline in jobs in August given housing troubles and less government hiring, but he still sees the U.S. economy as healthy.
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Wall Street tumbles after jobs data

Stocks tumbled on Friday, driving major indexes down nearly 2 percent, as data showing the first monthly drop in payrolls in four years stoked fears on Wall Street that the economy was headed into recession.

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