Midday Minute July 16 – Finance
Former U.S. Treasury Secretary Henry Paulson said on Thursday before lawmakers that he saw no evidence of any illegal actions as he testified on Capitol Hill over the government's role in Bank of America, Merrill Lynch merger. In prepared remarks submitted to the panel, he says he acted appropriately in December when Charlotte-based BofA threatened to back out of the deal.
Harley net tumbles, but shares rise on aggressive cuts
U.S. motorcycle maker Harley-Davidson Inc reported a lower-than-expected profit on Thursday as the ugly economic environment soured consumer spending and sent bike sales sliding.
Mid-Day Minute - July 16 - Industries
Baxter beats, Harley misses for 4th time, Biogen tops views
Midday Minute - July 16 - Energy
U.S. stockpiles of natural gas rose 90 billion cubic feet on the week ended July 10. Toyota Motor Corp. may supply hybrid vehicles' components to automaker rival Mazda Motor Corp.
McGraw Hills slashes 550 jobs and set to sell BusinessWeek
McGraw-Hill Cos., which is currently trying to sell off its non-profitable BusinessWeek, said Thursday it has cut 550 jobs, or 2.5 percent of its workforce.
Wall Street dips as data offsets strong earnings
Stocks slipped on Thursday as a strong start to the earnings season was countered by mixed economic data, sparking caution after a robust three-day run-up.
OPAP agents strike, say smoking ban hitting sales
Agents for Greek betting firm OPAP, Europe's biggest, went on strike on Thursday over a tax on winnings and said a new smoking ban in public places in Greece had added to a fall in sales.
Porsche refuses to cede victory to VW in power test
Porsche SE on Thursday refused to cede victory to Volkswagen in a test of wills over who will control the automotive juggernaut the German carmakers aim to forge.
U.S. officials praise China emissions efforts
China is taking unprecedented action to address global warming and reduce its energy intensity, increasing chances for a new climate change agreement later this year, top U.S. officials said on Thursday.
Nintendo DS Japan sales jump on Dragon Quest
Nintendo Co Ltd sold more than twice as many units of the DS game player last week in Japan as it did the week before, helped by the latest version of Square Enix's Dragon Quest game, a research firm said.
India, Pakistan agree more dialogue, to fight terror
India And Pakistan Said On Thursday They Had Agreed To Continue Dialogue And Would Not Link Action On Fighting Terrorism To That Process, After Their Prime Ministers Met In Egypt.
Khmer Rouge trial hears harrowing tribunal testimony
A senior Khmer Rouge prison guard on Thursday told a war crimes tribunal he was forced to send thousands of detainees to an execution site, where they were brutally killed and their bodies thrown into mass graves.
IMF downbeat on UK 2010 outlook
The country's economy will shrink sharply in 2009 before edging into growth in 2010, and the government should make clear plans to reduce borrowing when recovery comes, the International Monetary Fund said on Thursday.
Clinton aims to deepen ties, dispel doubts in India
U.S. Secretary of State Hillary Clinton leaves for India on Thursday on a high-profile mission to deepen ties and dispel any doubts about the U.S. commitment to New Delhi under U.S. President Barack Obama.
Oil hovers around $61
Oil fluctuated around $61 a barrel on Thursday as concerns about the strength of global fuel demand were offset by strong economic growth in China and better-than-expected U.S. banking results.
Geithner sees encouraging signs on economy, backs stimulus
U.S. Treasury Secretary Timothy Geithner expressed confidence on Thursday that global financial markets were mending but would not comment on lender CIT Group Inc, which U.S. authorities seemed ready to let sink.
China developer Renhe tumbles on share placement
Shares in underground mall developer Renhe Commercial Holdings tumbled more than 9 percent after resuming trade on Thursday afternoon following the company's announcement of a share placement.
Sotomayor treads careful line
Republican lawmakers stepped up pressure on Supreme Court nominee Sonia Sotomayor on Wednesday, hoping to paint her as judicial activist who will stamp the court with President Barack Obama's liberal agenda.
Indonesia, Newmont agree on value of Newmont unit
Indonesia's government and PT Newmont Nusa Tenggara (NNT), a local unit of Newmont Mining Corp, have agreed to value NNT's assets at $3.52 billion, the country's energy minister said on Thursday.
Qaeda-linked Somali group takes one of French hostages
A Somali Islamist group has handed over one of two French hostages to al Qaeda-linked al Shabaab militants to avoid clashes between the two insurgent bands, rebels and officials said on Thursday.
Jobless claims drop, again skewed by autos
The number of U.S. workers filing new claims for jobless benefits fell sharply last week to the lowest level since January, but the seasonally adjusted data was again distorted by an unusual pattern of automotive industry layoffs that amplified the drop.
Jobless claims drop sharply in latest week
The number of U.S. workers filing new claims for jobless benefits fell sharply last week to the lowest level since January, but the seasonally adjusted data was again distorted by an unusual pattern of automotive industry layoffs that amplified the drop.
Las Vegas Sands seeks to amend Macau loans
Las Vegas Sands Corp is seeking to amend its Macau bank loans of about $3.4 billion, a spokesman for the casino operator said on Wednesday.
Apollo affiliate files for $600 mln REIT IPO
Apollo Commercial Real Estate Inc has filed an application to raise up to $600 million in an initial public offering and plans to invest in commercial mortgage-backed securities with part of the proceeds, according to a regulatory filing.
Range Resources Q2 production up 14 percent
Independent oil and gas company Range Resources Corp said its second-quarter production rose to 434 million cubic feet equivalent per day (mmcfe/d), outpacing its earlier forecast of 420-425 mmcfe/d.
Insteel Industries swings to Q3 loss
Insteel Industries Inc swung to a third-quarter loss, hurt by an inventory write-down and a drop in shipments and average selling prices, but said it expects wire rod prices to rebound going ahead.
BNDES lending spree helps Brazil weather crisis
Brazil's state development bank BNDES has become a major player in government efforts to pull Latin America's largest economy out of recession.
Uni-Select to sell heavy duty group assets
Distributor of automotive replacement equipment Uni-Select Inc said it would sell assets of its heavy duty group, generating about C$22 million ($19.66 million) in cash.
Dow, Nasdaq turn lower, S&P adds to losses
The Dow industrials and Nasdaq dipped into negative territory while the S&P 500 fell further after a survey showed factory activity in the U.S. Mid-Atlantic region contracted for a 10th consecutive month in July, adding to worries about the economy's strength.
Ways out of the Porsche/VW logjam
Two plans are on the table to relieve Porsche SE's 10 billion euro ($14.09 billion) net debt burden and perhaps foster a tie-up with Volkswagen to create an automotive powerhouse.
