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European stocks rise early on earnings relief

Reuters - Blaise Robinson - ‎1 hour ago‎
PARIS, July 15 (Reuters) - European stocks rose to a two-week high on Wednesday, as forecast-beating earnings from Intel (INTC.O), Johnson & Johnson (JNJ.

Intel Jumps After Asian Consumers Spur Comeback

Bloomberg - Ian King - ‎1 hour ago‎
July 15 (Bloomberg) -- Intel Corp. rose as much as 8.4 percent in late trading yesterday after its revenue forecast topped analysts' estimates, indicating that shoppers in Asia are helping reignite demand for personal computers.

US-China trade imbalance not sustainable-Locke

Reuters - Doug PalmerLangi Chiang - ‎1 hour ago‎
BEIJING, July 15 (Reuters) - The trade imbalance between the United States and China is not sustainable, and the two countries have a joint responsibility to reduce greenhouse gas emissions, US Commerce Secretary Gary Locke said on ...

BOJ Extends Credit Policies, Cuts Economic Forecasts

Bloomberg - Mayumi Otsuma - ‎1 hour ago‎
July 15 (Bloomberg) -- The Bank of Japan extended its emergency-credit programs and cut its economic forecasts as companies struggle to borrow amid the worst postwar recession.

China Accepts 33% Price Cut, May Allow Rio Talks to Lapse, Umetals ...

Bloomberg - ‎16 minutes ago‎
By Bloomberg News July 15 (Bloomberg) -- Major Chinese steelmakers have accepted a temporary 33 percent iron ore price cut from Rio Tinto Group, and may allow annual contract talks to lapse, Umetal Research Institute said.

ASML Sees Higher Sales as Chipmakers Resume Spending

Bloomberg - Marcel van de Hoef - ‎47 minutes ago‎
July 15 (Bloomberg) -- ASML Holding NV, Europe's largest maker of semiconductor equipment, said revenue this quarter will increase from the previous three months, as its customers resume investments in machines that allow them to ...

Southwest Inspects Its Jets After Hole Forces Landing

New York Times - Christine Negroni - ‎7 hours ago‎
Chris Dorst/Charleston Gazette, via AP By CHRISTINE NEGRONI A day after a football-size hole opened in the fuselage of a Southwest Airlines plane and forced an emergency landing, an inspection of 181 Boeing 737s by the airline has turned up no problems ...

A new idea in travel: Airline for pets

Baltimore Sun - Andrea K. Walker - ‎1 hour ago‎
Dan Wiesel and his wife, Alysa Binder, remember the guilt they felt after their Jack Russell terrier Zoe had to fly cross country in the cargo area of a plane when they moved from the San Francisco Bay ...

Car-Scrapping Plans Fuel Europe Car Registrations

Wall Street Journal - Christoph Rauwald - ‎36 minutes ago‎
FRANKFURT -- European new-car registrations in June rose 2.4% year-on-year, the first market increase in 14 months, as government-led scrapping incentives fueled demand in more than 10 countries.

Burberry Sales Growth Slows In 1Q, Remains Upbeat

Wall Street Journal - Lilly Vitorovich - ‎17 minutes ago‎
LONDON (Dow Jones)--UK luxury fashion group Burberry PLC (BRBY.LN) Wednesday reported a further slowdown in sales growth in its fiscal first quarter as the economic downturn continued to hold back demand, ...

Janus's Black Resigns After 3 1/2 Years as 'Lightning Rod' CEO

Bloomberg - Christopher CondonSree Vidya Bhaktavatsalam - ‎4 hours ago‎
July 15 (Bloomberg) -- At least 15 fund managers and senior executives left Janus Capital Group Inc. as Chief Executive Officer Gary Black imposed changes he deemed necessary to rebuild the company.

US mulls temporary loan for CIT: source

Reuters - Rachelle Younglai - ‎3 hours ago‎
WASHINGTON/NEW YORK (Reuters) - US officials are considering giving CIT Group Inc a temporary loan as part of an aid package to help the lender avoid collapse, a source familiar with regulators' thinking said on ...

Wagoner to get $8.2 million for his troubles

Detroit Free Press - Justin Hyde - ‎1 hour ago‎
WASHINGTON -- Former General Motors Corp. Chairman Rick Wagoner will officially retire from the automaker Aug. 1 with a package worth at least $8.2 million, following months of negotiations ...

OIL FUTURES: Crude Rises More Than $1, Stays Above $60/Bbl

Wall Street Journal - ‎1 hour ago‎
SINGAPORE (Dow Jones)--Crude oil prices in Asia rose more than $1 a barrel Wednesday, amid higher Asian equities and a weaker US dollar.

Moody's drops California's credit grade to 'B,' may cut more

Los Angeles Times - Tom Petruno - ‎2 hours ago‎
The rating firm warns that the risk is rising that the state could have trouble paying its bondholders if the budget stalemate in Sacramento doesn't end soon.

Sinopec's Ex-Chairman Gets Suspended Death Sentence

Bloomberg - John DuceMichael Forsythe - ‎1 hour ago‎
July 15 (Bloomberg) -- Chen Tonghai, a former chairman of China Petroleum & Chemical Corp., the nation's second-biggest oil company also known as Sinopec, has been given a suspended death penalty for bribery, ...

DOJ Probes Pricing Issues In Credit Derivatives

Wall Street Journal - Emily BarrettClare Connaghan - ‎12 hours ago‎
NEW YORK (Dow Jones)--The US Department of Justice has opened an investigation into pricing of credit derivatives, with requests for information from the key data provider and its large ...

Boeing to cut 1000 defense jobs: report

Reuters - Ajay KamalakaranValerie Lee - ‎4 hours ago‎
(Reuters) - Boeing Co (BA.N) told employees it will have to cut around 1000 jobs in its defense division because of Pentagon budget reductions, the Associated Press said, citing an internal memo from Jim Albaugh, the company's top defense executive.

Korea Investment Corp Will Hold On To BofA Stake - Exec

Wall Street Journal - ‎2 hours ago‎
SEOUL (Dow Jones)--South Korea's sovereign wealth fund Korea Investment Fund will continue to hold on to its stake in Bank of America (BAC) and is looking to develop strategic ties with the bank, KIC's chief investment officer Scott Kalb said Wednesday ...

China c.bank takes more steps to mop up funds

Forbes - Karen YeungEric Burroughs - ‎2 hours ago‎
SHANGHAI, July 15 (Reuters) - China's central bank will issue 100 billion yuan ($15 billion) in special bills to Chinese shareholding banks, another signal that it was stepping up efforts to drain excessive liquidity and stem a surge in ...

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