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US gets suspect in hacking case that spanned world
(AP)
AP - In November 2008, with the nation transfixed by a presidential election and a collapsing economy, a group of international hackers infiltrated the computer network of a major financial services company in what authorities describe as one of the most sophisticated attacks ever concocted.
NYSE Euronext reports $184M profit for 2Q
(AP)
AP - Trans-Atlantic stock exchange operator NYSE Euronext said Tuesday it earned $184 million in the second quarter as it saw a jump in revenue from derivatives trading and eliminated one-time charges recorded last year.
Fannie Mae and Freddie Mac
(Investor's Business Daily)
Investor%27s Business Daily - Fannie Mae (OTCBB:FNMA.ob - News) and Freddie Mac (OTCBB:FMCC.ob - News), the gov%27t-backed mortgage agencies, could be replaced by a variety of organizational forms providing mortgage credit with less systemic risk, Federal Reserve Chairman Ben Bernanke said.
EU's $580 billion safety fund up and running
(Reuters)
Reuters - A European Union financial stability fund with the potential to raise up to 440 billion euros ($580 billion) to help EU countries weather debt problems is now fully operational, officials said on Friday.
Summary Box: Stocks drift lower on weak job number
(AP)
AP - JOB WEAKNESS: A surprise spike in first-time jobless claims disappointed investors and sent stocks moderately lower. The Dow Jones industrial average lost 5 points.
Dollar moves lower after weak US jobs report
(AP)
AP - The dollar fell Friday after a weak report on July jobs highlighted the country%27s tough labor market, increasing expectations that economic growth would slow in the second half of the year.
Obama lauds Ford's bid to boost auto exports, including 2011 Explorer
(The Christian Science Monitor)
The Christian Science Monitor - President Obama defended the government bailout of the US auto industry during a visit Thursday to a Ford Motor Co. plant here, noting that his plan to rebuild the US economy by doubling exports over the next five years requires a strong domestic auto industry able to compete for trade in the global marketplace.
Berkshire net down 40 percent on derivative losses
(Reuters)
Reuters - Warren Buffett%27s Berkshire Hathaway Inc (BRKa.N)(BRKb.N) said on Friday second-quarter profit fell 40 percent, as declining stock prices depressed the value of his derivative contracts.
European equities firmer after interest rates held
(AFP)
AFP - European shares edged higher on Thursday after British and eurozone interest rates were left unchanged, as expected, and news of soaring first-half profits at lenders Barclays and Commerzbank.
On the Call: What AmeriCredit means for Ally
(AP)
AP - Consumer finance company Ally Financial Inc. has long been the lender-of-choice for General Motors Co. But in recent months, GM has said it wants to do more business with customers that have lower credit scores. The automaker views this group as underserved and an important source of business as it prepares for its initial public offering.
China moves to further liberalise gold market
(AFP)
AFP - China has moved to further free up the nation%27s gold market by allowing more commercial banks to import and export the precious metal, as rising prices for bullion and tumbling stock markets spur demand.
Is Super-Investor John Paulson Turning Bearish?
(The Motley Fool)
The Motley Fool - On Wednesday, the Financial Times reported that uber-successful hedge fund manager John Paulson had reduced his exposure to stocks. This is the same person who told his investors in a conference call at the beginning of May that "there is a lot of upside in U.S. markets," citing rising corporate profits. When an investor of this caliber changes his outlook in a market that is driven by macro considerations, what are the lessons we can learn? |
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