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NEWS: Business and Financial

Stocks hover near break even

CNN: Business - 10 min 54 sec ago
Stocks recovered from earlier losses Friday to trade in a narrow range near breakeven as investors weighed reports on U.S. economic growth, consumer confidence and regional manufacturing activity.

Carlyle Sets First Close of China Fund

Wall Street Journal: Financial - 11 min 29 sec ago
The U.S. private-equity firm announced the first closing of a yuan-denominated fund after raising the equivalent of $350 million.

Recovery spin wars: White House vs. business

CNN: Business - 13 min ago
The Obama administration gave a positive spin to second-quarter economic numbers released Friday, with the administration's chief economist saying they show a "steady recovery from the recession continues."

U.S. recovery sputters

CNN: Business - 14 min 37 sec ago
The U.S. economy continued to grow during the second quarter, the government reported Friday. But the pace slowed more than economists were expecting, raising concern about growth - or even another recession - in the months ahead.

Consumers not spending like drunken sailors

CNN: Business - 15 min 9 sec ago
The economy is heading nowhere fast. That's the bad news. But the good news is that it still seems like consumers may have actually learned a lesson or two about reckless fiscal behavior.

States go deeper into debt

CNN: Business - 15 min 39 sec ago
The states are broke, and like many consumers, they're borrowing big time to get out of their fiscal binds.

Congress Passes Lean Airline Safety Bill

Wall Street Journal: Financial - 19 min 12 sec ago
U.S. legislators, deadlocked over a comprehensive airline-safety bill, have compromised on a slimmed-down measure to enhance pilot training and airline safety.

Honda, Mazda Improve Bottom Lines

Wall Street Journal: Financial - 23 min 35 sec ago
Japanese auto makers Honda and Mazda said that sales was growing strong in Asia and North America as both reported improved earnings on the quarter.

Chrysler to keep Michigan plant open, add jobs

Reuters: Financial - 26 min 4 sec ago
DETROIT (Reuters) - Chrysler Group LLC will add a second shift to the Sterling Heights Assembly Plant near Detroit in early 2011 and keep that plant open beyond 2012, when it had been planned to shut, the company said on Friday.


EU May Broaden U.S. Biodiesel Tariffs

Wall Street Journal: Financial - 27 min 28 sec ago
The EU is moving to open an investigation into whether U.S. biodiesel producers are routing their product through third countries to avoid tariffs the EU imposed on U.S. shipments last year.

Wall Street pares losses, recovery stays anemic

Reuters: Financial - 37 min 1 sec ago
NEW YORK (Reuters) - Stocks eased slightly on Friday, but for the second day in a row major indexes bounced off session lows, this time on a positive report on Midwest manufacturing activity.


Let's fund every entrepreneur

CNN: Business - 39 min 14 sec ago
There was a great conversation Thursday at Y Combinator's AngelConf in Silicon Valley. Anthony Ha of Venturebeat had a couple posts on it that I just read, one on Paul Graham's comments, and another on Ron Conway and Mike Arrington's comments. I would have enjoyed being part of that discussion, so I'll join in now.

Researchers show how criminals can attack edges of secure Web traffic

San Jose Mercury: Business - 50 min 58 sec ago
LAS VEGAS — Researchers have uncovered new ways that criminals can spy on Internet users even if they're using secure connections to banks, online retailers or other sensitive Web sites.

Cell phone shipments continue to recover

San Jose Mercury: Business - 59 min 9 sec ago
NEW YORK — The number of cell phones shipped worldwide rose 14.5 percent in the second quarter compared with a year earlier, with much of the growth coming from smaller challengers like the iPhone and BlackBerry, according to research firm IDC.

BP's Hayward Defends Tenure, Spill Response

Wall Street Journal: Financial - 59 min 15 sec ago
Tony Hayward, the departing chief executive of BP, is unrepentant about how the energy giant responded to the U.S.'s largest offshore oil spill.

Aon quarterly profit rides high on acquisitions

Reuters: Financial - 1 hour 3 min ago
BANGALORE (Reuters) - Aon Corp , the world's largest insurance brokerage, reported a market-beating quarterly profit, driven by recent acquisitions that offset a drop in commissions.


Six More Insurers Subpoenaed by Cuomo

Wall Street Journal: Financial - 1 hour 3 min ago
Genworth Financial Group, Unum Group and New York Life Insurance were among life insurers subpoenaed by New York Attorney General Cuomo in his probe of payouts to policy beneficiaries.

BA, Virgin Sound Optimistic

Wall Street Journal: Financial - 1 hour 6 min ago
British Airways and Virgin Atlantic signaled that the pace of recovery is picking up after one of the toughest economic downturns in decades.

Hitachi returns to profit as demand in Asia fuels turnaround

San Jose Mercury: Business - 1 hour 7 min ago
TOKYO — Hitachi, a maker of everything from home appliances to nuclear reactors, returned to profit last quarter as strong Asian demand fueled recovery in the auto and electronics sectors.

Samsung says quarterly profit surges 83 percent

San Jose Mercury: Business - 1 hour 9 min ago
SEOUL, South Korea — Samsung's quarterly profit surged to a record high as sales of semiconductors, flat panels and TVs climbed, but the electronics giant warned that intensifying competition in areas like mobile phones could dent earnings in coming quarters.
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