IBT Staff Reporter

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Obama targets U.S. middle class on healthcare

President Barack Obama used economic arguments on Wednesday to pitch healthcare reform to middle-class Americans but offered few new ideas to galvanize action from either skittish Democrats or a divided Congress.

3M profit surges past estimates, stock climbs

Diversified U.S. manufacturer 3M Co handily beat Wall Street's profit expectations and raised its revenue forecast, boosted by surprisingly strong demand for consumer electronics and for its respiratory masks, which were snapped up by people afraid of the swine flu virus.

Prospects uncertain for Obama on healthcare

President Barack Obama's drive to overhaul the U.S. healthcare system faces uncertain prospects as lawmakers struggle to find agreement on cutting costs and funding the $1 trillion program. The outcome is at a critical juncture in the U.S. Congress. Here are some possible scenarios involving shortfalls in reaching his goals as planned:

Obama says healthcare overhaul needed to curb deficits

President Barack Obama said on Wednesday a broad healthcare overhaul was critical to a U.S. economic recovery and urged Congress to take advantage of momentum behind the reform package, despite doubts about the plan even among fellow Democrats.

Shortage of doctors could damage healthcare reform

A growing shortage of primary care doctors could place a major burden on the U.S. healthcare system if President Barack Obama succeeds in extending medical insurance to millions of Americans who currently lack it.

Northam Exposure: An Award-Winning Travel Journalist Interview

Award-winning travel journalist Bruce Northam has wandered freestyle in over 100 countries on seven continents, with experiences ranging from drifting with Burma's sea gypsies, playing naked Frisbee with New Guinea natives, and beholding the beguiling shores of Antarctica.

AT&T profit falls but iPhone helps mobile

AT&T Inc on Thursday posted a smaller quarterly profit but revenue exceeded estimates as strong sales of Apple Inc's iPhone helped boost wireless subscriber growth, sending its shares up 4 percent in early trade.

Wal-Mart woos laptop shoppers

Wal-Mart Stores Inc has expanded its laptop selection by 40 percent and will be aggressive in pricing the computers and the accessories to go with them as the discount retailer looks to win sales from frugal back-to-school shoppers.

Wall St flat with earnings in full swing

Stocks opened little changed on Thursday as investors digested a slew of quarterly results, including a brighter outlook and a forecast-beating profit from 3M Co and disappointing results from McDonald's Corp ahead of key housing market data.

Ensco Int'l profit falls 32 pct, beats forecasts

Offshore oil and gas driller Ensco International Inc (ESV.N) on Thursday reported a 32 percent drop in quarterly earnings as more of its rigs were left unused, but it beat Wall Street forecasts and its shares firmed in premarket trading.

Gas could power Britain well into winter

Weak prices and sagging demand could see gas supply most of Britain's electricity well into winter, sidelining coal plants and cutting Britain's carbon emissions as a welcome side effect.

Wall St set for slight rise on upbeat earnings

Stocks were set to open slightly higher on Thursday as quarterly results, including a brighter outlook and a forecast-beating profit from 3M Co , gave investors confidence, ahead of key housing market data, that the earnings season will remain strong.

Coal permits hard to come by: Natural Resource

Natural Resource Partners LP, which leases coal reserves to miners, may see lower royalties as its clients find it increasingly difficult to obtain permits to mine, its chief operating officer said.

House passes bill aimed at reducing deficit

A plan to bring the ballooning U.S. deficit under control passed the U.S. House of Representatives on Wednesday, requiring Congress to find savings to offset tax cuts or spending increases.

CIT bond advisers to push for bankruptcy: report

The advisers to the bondholders that provided lender CIT Group Inc with a $3 billion loan facility this week are recommending it be restructured through a bankruptcy following a debt tender in August, Bloomberg reported on Wednesday, citing a person familiar with the matter.

Treasury nears end on financial reform proposals

The Treasury Department on Wednesday gave lawmakers proposals to dampen financial firms' appetites for growing to giant size and said it was one step away from giving Congress its full package of reforms.

Obama says recovery depends on healthcare

President Barack Obama said on Wednesday he realized Americans were skeptical about his healthcare overhaul, but that the country's economic recovery depended on implementing the $1 trillion plan.

Hyundai posts record Q2 profit, gaining share

Hyundai Motor Co is likely to struggle to replicate its record quarterly profit as the benefits from a weaker won and government stimulus fade but the popularity of its small, cheap vehicles will help it gain share in a weak global market.

Ford posts profit, shares jump

Ford Motor Co posted a $2.3 billion quarterly net profit, mainly due to debt restructuring, and said it was on track to at least break even in 2011, sending its shares up more than 7 percent.

Ford posts quarterly profit after debt restructuring

Ford Motor Co posted a $2.3 billion quarterly net profit, mainly due to debt restructuring actions, with global markets still reeling from a recession that helped to push U.S. rivals General Motors and Chrysler into bankruptcy.

Porsche axes CEO, sets stage for VW merger

Sportscar maker Porsche conceded a months-long power struggle to mass-market rival Volkswagen by axing its CEO and said it would raise at least 5 billion euros ($7.1 billion) in equity as the two prepared for a merger.

South Korea slaps $208 million fine on Qualcomm

South Korea's anti-trust agency imposed on Thursday a $208 million fine on Qualcomm Inc and ordered the U.S. wireless chip and technology firm to end discriminatory licensing practices and rebates.

Futures up on earnings; jobs, housing data on tap

Stock index futures rose on Thursday as quarterly results, including a brighter outlook from 3M Co, gave investors confidence that the earnings season will remain strong ahead of key jobs and housing market data.

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