UNITED STATES

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Slowing housing may cut into Street bond bonanza

Fixed income is likely to be less of an engine for profit growth for Wall Street firms as the United States housing market growth shows signs of slowing after two years of Federal Reserve interest rate hikes.

Irrational mortgage bond prices polarize market

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Buyers in the $565 billion market for so-called sub-prime mortgage bonds are clamoring for the high-yield securities, even though experts increasingly warn that pricing has reached irrational levels.

U.S. group prods China to open life insurance sector

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A U.S. industry group called on China on Tuesday to streamline licensing requirements for foreign-invested life insurers seeking to expand their operations and to do away with restrictions on foreign ownership.
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U.S. drops to 6th in world competitiveness ranking

The United States fell to sixth place in the World Economic Forum's 2006 global competitiveness rankings, ceding the top place to Switzerland, as macroeconomic concerns eroded prospects for the world's largest economy.
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Home sales edge down, prices drop

The pace of existing home sales in the United States fell for a fifth straight month in August and prices dropped from year-ago levels......
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Artist Reps Ask Japan Gov't for Copyright Extension

A group of 16 organizers for writers, artists, and musicians in Japan submitted a petition calling for legislation to extend the period of copyright protection from the current 50 years to 70 years after the death of right-holders, according to Japanese media.
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Former CEO sentenced to 15 years jail

The former chief executive of one of the US's largest makers of paper products was sentenced to 15 years in prison after being convicted last year of engineering a $US300 million ($A400 million) fraud in a fruitless bid to save the failing company from bankruptcy.
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US home sales dip a 'more stable' market

The pace of existing home sales in the United States fell for a fifth straight month in August and prices dropped from year-ago levels for the first time in 11 years, a US realtors group said.
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Starbucks Could Be in Hot Water; Monopoly Suit Filed

A proposed class action lawsuit filed against leading coffee retailer Starbucks on Monday by an independent coffee house owner claims that that the company abuses its monopoly position in the specialty coffee market to eliminate smaller competitors by using various means, including cluster bombing store tactics.
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Seagate Introduces 750GB Hard Drive

Hard drive manufacturer Seagate Technology announced a 750 gigabyte drive on Monday, which will be shipping to digital video recorders (DVR) and digital entertainment device manufacturers for the next generation of DVRs.
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Mercedes-Benz to Introduce Diesel SUV in 2008

Mercedes-Benz said on Monday it plans to offer its first BLUETEC diesel-powered versions of its M, R and GL-Class sport-utility vehicles in 50 US states at the beginning of 2008.
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Light Cigarette Suit Certified As Class Action

A lawsuit accusing tobacco companies of defrauding smokers into thinking light cigarettes were safer than regular brands can proceed as a class action, a federal judge in New York ruled on Monday.
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Venture capital looks to find its global footing

Faced with mounting pressures of doing business in Silicon Valley, the venture capital industry is going global, albeit in stops and starts that reflect the risks of doing business in foreign lands.
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Walgreen profit jumps 25 percent

Walgreen Co., the largest U.S. drugstore chain, posted a 25 percent rise in quarterly profit on Monday, driven by strong sales of prescription medications and the addition of the Happy Harry's chain.
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Europe Spyplane in Doubt After Spain Crash

The future of a European project aimed at matching U.S. and Israeli prowess in unmanned spyplanes that could eventually fire weapons was thrown into doubt after a test model crashed off the coast of Spain.
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Aberdeen hit by drop in dollar

Aberdeen Asset Management's assets under management fell by 3.9 percent over the five months to the end of August, primarily as a result of a fall in the value of the U.S. dollar.
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Bank deputy mulled September rate rise: FT

Sir John Gieve, deputy governor of the Bank of England, said in a newspaper interview published on Monday he gave serious thought to another rise in interest rates at this month's Monetary Policy Committee Meeting.
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Euronext denies report of NYSE vote postponement

Pan-European exchange operator Euronext on Monday denied it planned to postpone an extraordinary general meeting set for December, at which its shareholders are due to vote on a $10 billion plan to merge with NYSE Group .
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China consumers turn cautious on P&G skin-care row

Public anger in China over a popular skin-care line has become a public relations headache for Procter & Gamble , underlining the challenges foreign firms face as they contend with increasingly discriminating consumers.
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Oil dips below $60 as BP restarts Prudhoe Bay

Oil prices fell to a six month low under $60 (31 pounds) a barrel on Monday as BP's move to restore output at Prudhoe Bay earlier than expected added to a sense of healthy, secure supplies

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