Midday minute August 5 – Finance
Goldman Sachs Group Inc. said on Wednesday the government has queried its compensation practices and the use of credit derivatives. Goldman in July reported robust net earnings of $3.4 billion for the second quarter, soon after repaying a $10 billion bailout received from the U.S. Treasury's Troubled Asset Relief Program.
Mortgage demand boosted by refinancing as rates drop
Demand for U.S. home loans rose last week as a decline in 30-year fixed mortgage rates to a three-week low boosted applications for refinancing, the Mortgage Bankers Association said on Wednesday.
Jarvis Cocker writing songs for comedy
Jarvis Cocker has written three songs for the upcoming film
Sony scales Everest mystery
Mount Everest hides as many great stories as it does buried bodies. George Mallory was both.
Mid-Day Minute - August 5 Tech
Sony Corp will begin selling this month the cheapest digital book reader for the United States, heating up the competition with Amazon.com Inc in the small but fast-growing market for electronic readers
Google buys On2 video firm to bolster YouTube
Google on Wednesday took another step in its Web video strategy by announcing it will acquire On2 Technologies, a creator of high-quality video compression technology in order to boost its YouTube site.
Market slips on weaker July service sector data
U.S. stocks fell on Wednesday after data showed the economy's service sector contracted in July at a faster pace than June, heightening concerns about the strength of the recovery.
Chris Brown to be sentenced today
R&B singer Chris Brown will today be sentenced after he pleaded guilty in June for assaulting his former girlfriend Rihanna.
Oil falls below $71 after inventory data
Oil fell toward $70 a barrel on Wednesday after U.S. government inventory data showed a build in crude stocks and weak economic data raised doubts about oil demand recovery in the world's largest energy consumer.
Service sector shrinks faster in July: ISM
The U.S. service sector contracted in July at a faster pace than in June, adding to worries that any economic recovery may still be a long way off, according to a report released on Wednesday.
China on the prowl for smaller Oz miners
Who ever said China's loss of face over Chinalco's collapsed $19.5 billion Rio Tinto tie-up bid would curb the country's hunger for Australian natural resources?
Marines banned from Facebook, Twitter and MySpace
The U.S. Marine Corps banned use of social web sites such as Twitter, MySpace and Facebook on its networks, citing security risks, while the Pentagon also said it will consider implementing similar bans.
Merck, Schering in $41.5 mln drugs settlement
Merck & Co and Schering-Plough Corp will pay $41.5 million to settle class-action lawsuits over their shared cholesterol drugs Vytorin and Zetia, the companies said on Wednesday.
Petrobank Energy to buy TriStar in C$2.24 bln deal
Petrobank Energy and Resources Ltd said it would buy TriStar Oil & Gas Ltd in a cash and stock deal worth about C$2.24 billion, to form PetroBakken Energy Ltd, a Bakken-focused light-oil producer.
Platinum Equity wins EU's OK to take over Delphi
U.S. private equity firm Platinum Equity won permission from European Union antitrust authorities on Wednesday to acquire control of bankrupt U.S. auto parts maker Delphi Corp.
Deutsche Bank eyes stake in Sal. Oppenheim
Deutsche Bank is in talks to take a minority stake in Sal. Oppenheim that could eventually lead to a take over of the embattled private bank and herald further consolidation in Europe's wealth management industry.
North Korea frees American journalists, arrive in U.S.
The two American journalists that were held in North Korea since March and had been sentenced to 12 years of hard labor arrived to the United States today meeting their families in a tearful encounter.
Malaysia's Maxis set for $2 billion listing
Maxis Communications, Malaysia's top mobile operator, has chosen Goldman Sachs, Credit Suisse and CIMB advise it on a planned $2 billion listing in Kuala Lumpur, two sources told Reuters on Wednesday.
Paula Abdul steps down from American Idol
American Idol judge and singer-dancer Paula Abdul will not remain in the show, Abdul and Fox confirmed in separate statements.
Google to buy On2 Technology in stock deal
Google Inc said it would acquire On2 Technologies Inc, a maker of video compression technology, in a stock deal valued at about $106.5 million.
Kazakhstan-China $3.3 billion oil deal delayed
Kazakh and Chinese state oil firms' joint $3.3 billion acquisition of a Kazakh private upstream company has been delayed, Kazakhstan said on Wednesday without providing the timeframe or the reason for the delay.
OMV in $1.2 billion takeover talks on Petrol Ofisi
Austrian energy group OMV is in talks to take control of Turkish fuel retailer Petrol Ofisi from embattled Dogan Holding as it tries to move into emerging markets, it said on Wednesday.
Private sector loses 371,00 jobs in July: report
U.S. private employers shed 371,000 jobs in July, compared with a revised 463,000 drop in June, a report by a private employment service said on Wednesday.
U.S. can end Honduras crisis in seconds: Zelaya
The United States can end the political crisis in Honduras in a few seconds and kick out politicians who led a coup in June, deposed Honduran President Manuel Zelaya said on Tuesday.
Filipinos bid goodbye to ex-leader Aquino
Former Philippine President Corazon Aquino, heroine of the 1986 people power movement, was laid to rest on Wednesday after an eight-hour funeral procession that had to inch its way past hundreds of thousands of mourners.
Politkovskaya murder retrial begins in Moscow
Three suspects in the murder of journalist and Kremlin critic Anna Politkovskaya went on trial for a second time in Moscow Wednesday as supporters questioned the authorities' will and ability to solve the case.
Tweet tweet: You're not Lithuania's president!
The office of Lithuania's newly elected President Dalia Grybauskaite has a problem with someone else's virtual reality.
Iran's Ahmadinejad sworn in as president
Mahmoud Ahmadinejad was sworn in as Iran's president Wednesday in a ceremony boycotted by reformist leaders and parliamentarians and marred by street protests over his victory.
U.S. reporters freed from North Korea return home
Two American journalists freed by North Korea from months of detention returned to U.S. soil early on Wednesday accompanied by former President Bill Clinton, who secured their release in a meeting with the hermit state's leader Kim Jong-il.
Employment Preview
This week has had economic reports on housing and personal income, but the main focus of the week will be employment.
