IBTimes Daily News Outlook - Wed., July 1
Auto sales results for June, Windows 7 rebooting, Energy Sec. likely to announce more funds allocations, General Mills releases earnings, B of A completes Countrywide purchase, NASA launches Endeavour, Weekly Petrolum status, Africa Energy Forum, Nevada sales tax hike, Federal student loans rate change
Party celebrates China web filter delay
Chinese web users flooded to a trendy art zone cafe on Wednesday to celebrate a last-minute halt to a rollout of government-sponsored filtering software, and make a stand for freedom of expression in the Communist-run state.
World stocks begin new quarter on upbeat note
World stocks began the third quarter on an upbeat note on Wednesday with European and emerging market shares rising around 1 percent and oil climbing on hopes for a recovery in demand.
Fiat CEO says Chrysler cash burn slows: report
U.S. automaker Chrysler Group LLC has stemmed the pace at which it uses cash after emerging from bankruptcy last month as a slimmer company, Chief Executive Sergio Marchionne said in an interview with Bloomberg published on Wednesday.
Auto sales seen showing signs of stability
Major automakers are expected to report the highest sales rate of 2009 when they post results for June, as deep discounts limit industry-wide results to a 30-percent decline.
Oil rises above $70 on bullish API report
Oil climbed back above $70 a barrel on Wednesday as an industry inventory report showing a larger-than-expected fall in U.S. crude stocks buoyed hopes of a demand recovery and encouraged buying.
Mood mixed among Asian shares
Asian stock markets put in a mixed performance on Wednesday, with Seoul gaining but Tokyo and Sydney weak as data showed the process of swinging the global economy around to a recovery would be a slow grind.
Monster online jobs index dips in June
A monthly gauge of online labor demand in the United States fell a touch in June and its decline slowed on a year-over-year basis, suggesting stabilization in the jobs market, a private research group said on Wednesday.
All-day party celebrates China web filter delay
Chinese web users flooded to a trendy art zone cafe Wednesday to celebrate a last-minute halt to a rollout of government-sponsored filtering software, and make a stand for freedom of expression in the Communist-run state.
Monster U.S. online jobs index dips in June
A monthly gauge of online labor demand in the United States fell a touch in June and its decline slowed on a year-over-year basis, suggesting stabilization in the jobs market, a private research group said on Wednesday.
U.S. group questions AstraZeneca's Crestor patent
A U.S. patent research group says it has uncovered evidence that could be used to declare AstraZeneca Plc's patent for its cholesterol fighter Crestor invalid.
Viral video a stealth promo for Robot Chicken
LOS ANGELES - A viral video billed as Breckin Meyer Responds to Perez Hilton plays like a parody of Hilton's video statement about his recent run-in with the Black Eyed Peas in Toronto. But in fact it's a stealth promo for an upcoming Robot Chicken DVD release.
Citi raises rates on millions of credit cards: report
Citigroup Inc has increased interest rates on up to 15 million U.S. credit card accounts just months before curbs on such rises come into effect, the Financial Times reported citing people close to the situation.
Red Sox seek redemption today after 'disaster' last night
The Red Sox may seek redeem themselves today as they encounter the Baltimore Orioles again on Wednesday afternoon after a disaster game yesterday when they lost a nine-run lead to lose by a score of 11-10.
Asia shares struggle as data shows going tough
Asian stock markets struggled to gain ground on Wednesday as economic data showed the process of turnaround to recovery was likely to be a slow grind, and the dollar capitalized on that more cautious sentiment.
BofA's asset management unit gets lukewarm bids: report
Bank of America Corp's primary investment management unit is drawing lower than expected bids after its likeliest suitor, BlackRock Inc , inked a blockbuster deal to buy Barclays Global Investor , the Financial Times reported, citing people close to the matter.
China's Internet backdown lauded by firms, activists
China's ambitions to strengthen control of the Internet with filtering software became a show of the limits of its power on Wednesday, as activists and industry groups welcomed AN abrupt delay of the contentious plan.
China's Internet backdown lauded by firms and activists
China's ambitions to strengthen control of the Internet with filtering software became a show of the limits of its power on Wednesday, as Internet activists and businesses welcomed the abrupt delay of the controversial plan.
Fed's Yellen: rates could be near zero for years
U.S. benchmark lending rates could stay near zero for a couple of years based on the amount of slack now in the economy, San Francisco Federal Reserve Bank President Janet Yellen said on Tuesday.
Putnam Chairman Charles Ed Haldeman stepping down
Putnam Investments said Charles Ed Haldeman Jr. will step down on Tuesday as chairman of the Boston investment company, ending a turbulent seven-year run at the firm.
Fed's Yellen: slow recovery to start in late 2009
The recession is likely to end later in 2009, ushering in a frustratingly slow recovery marked by continued high unemployment, a top Federal Reserve official said on Tuesday.
Michael Jackson gets more bizarre after death
Bizarre in life, Michael Jackson's complex personal affairs are taking even stranger twists in death, with sketchy reports on Tuesday of plans for an elaborate public memorial and questions over the parentage of his children.
Gannett laying off 1,000 as ad sales slide: report
Gannett Co. Inc Co, which owns top-selling newspaper USA Today, is laying off more than 1,000 staff to try and combat persistent declines in revenue, the Wall Street Journal reported on Tuesday.
A 13-story building fell over spontaneously, reasons unknown
An entire apartment building in Shanghai collapsed spontaneously and fell over in one piece this past Saturday, with an amazing minor miracle of one fatality. However, the reason reported on Tuesday is not so convincing that poor construction led to the collapse.
Alberta to back three carbon capture projects
The Alberta government said on Tuesday it will support three carbon capture and storage projects from a C$2 billion ($1.7 billion) fund set aside last year as the Western Canadian province looks to cut emissions from coal-fired power plants and oil sands projects.
Fed's Bullard says must shield Fed independence
St. Louis Federal Reserve Bank President James Bullard said on Tuesday that public anger over the U.S. financial crisis and subsequent bailouts could cause big problems if this escalated into a political challenge to the independence of the U.S. central bank.
AIG gets new directors at subdued annual meeting
American International Group Inc got a new slate of government-backed directors at a subdued annual meeting on Tuesday, effectively revamping its board after the insurer's $180 billion taxpayer bailout.
Cisco Live 2009 Protest disrupted Cisco Executive Keynotes
A keynote speech by Cisco Systems chief executive John Chambers was interrupted by a group of demonstrators at the company's annual Cisco Live event in San Francisco.
GM CEO makes case for bankruptcy asset sale
General Motors Corp's chief executive told a U.S. bankruptcy court on Tuesday that the sale of GM's main assets to government-backed New GM must win court approval in order for the automaker to survive.
NY agrees low-cost power for Yahoo, Sunworks builds
The New York Power Authority agreed on Tuesday to sell low-cost power to Yahoo Inc to build a data canter and to Sunworks Solar LLC to build a solar panel manufacturing plant.
