- Stocks rise on economic hopes ahead of payrolls
(Reuters)
Reuters - Stocks rose on low volume on Thursday as data showed improvement in housing and the job market a day ahead of the critical monthly payrolls figures.
- Economic data damp down fears of new recession
(Reuters)
Reuters - Pending sales of previously owned U.S. homes rebounded unexpectedly in July and new claims for jobless benefits fell last week, helping quell fears the economy could face a double-dip recession.
- Burger King agrees to $3.3 billion sale to 3G Capital
(Reuters)
Reuters - Burger King Holdings Inc agreed to sell itself to investment firm 3G Capital for $3.26 billion, giving the No. 2 U.S. fast-food chain breathing room to fix its business and close the gap with leader McDonald's Corp.
- Bernanke takes blame for muddled message on Lehman
(Reuters)
Reuters - U.S. Federal Reserve Chairman Ben Bernanke said he was partly to blame for leaving the wrong impression that the central bank could have saved Lehman Brothers from failure in 2008.
- Lehman preps bank units for sale or shutdown
(Reuters)
Reuters - Lehman Brothers Holdings Inc , the bankrupt U.S. investment bank, needs at least $550 million to keep its two bank units going as it prepares to sell them or shut them down in 18 months, court documents show.
- Some BofA shareholders can apply to tap $150M fund
(AP)
AP - Investors who lost money when Bank of America Corp. bought Merrill Lynch without disclosing Merrill's problems can start applying to tap a $150 million compensation fund.
- Communities key in foreclosure fight: Fed officials
(Reuters)
Reuters - Two top U.S. Federal Reserve officials on Thursday called for a more community-focused approach to the country's ongoing foreclosure crisis, which is weighing on its economic recovery.
- H&R Block 1Q loss narrows despite revenue decline
(AP)
AP - H&R Block Inc. on Thursday said its fiscal first-quarter loss narrowed by 2 percent as it reduced staffing and other expenses.
- EU reaches deal on cross-border financial supervisors
(AFP)
AFP - Europe took a big step closer on Thursday to its goal of creating cross-border financial supervisors, reaching a "crucial milestone" in efforts to reform a sector blamed for the global recession.
- 5 Tax Moves to Make Now
(U.S. News & World Report)
U.S. News & World Report - It may seem a bit strange to be talking about income taxes in September. There are, however, good reasons to think about taxes well before April 15. For starters, there are some big changes in the tax code that go into effect in 2011. Depending on your income tax bracket and investments, some simple planning now could save you a bundle later.
- Pakistan gets IMF relief, tightens security
(Reuters)
Reuters - The International Monetary Fund will give Pakistan $450 million in emergency flood aid, providing some relief for a government overwhelmed by the disaster and facing renewed militant violence.
- Pier 1 Imports shares rise on 2Q sales growth
(AP)
AP - Pier 1 Imports Inc. said Thursday its second-quarter sales rose 8 percent year-over-year as more customers shopped in its stores and the retailer enticed more browsers to buy its furniture and home accessories.
- Con man could get life under Calif. 3-strikes law
(AP)
AP - A man accused of bilking elderly South Los Angeles residents out of their homes in a foreclosure scam is facing a potential life sentence in a rare use of California's three-strikes law for a white-collar crime.
- Temporary cap that stopped oil gusher removed
(AP)
AP - Engineers removed a temporary cap Thursday that stopped oil from gushing into the Gulf of Mexico from BP's blown-out well in mid-July. No more oil was expected to leak into the sea, but crews were standing by with collection vessels just in case.
- More Dems buck plan to let taxes increase for rich
(AP)
AP - Congress seems increasingly reluctant to let taxes go up, even on wealthier Americans.
- Ex-GM CEO Fritz Henderson to head Sunoco spin-off
(AP)
AP - Sunoco Inc. has tapped former General Motors CEO Fritz Henderson to lead the energy spin-off it is forming early next year.
- A Dearth of Work for China's College Grads
(BusinessWeek)
BusinessWeek - The job hunt came as a shock. The 23-year-old job seeker graduated in June from a good school -- Beijing University of Technology -- with a bachelor's degree in materials science, a subject he figured would appeal to employers. Yet he had to go through scores of interviews and comb the online job sites endlessly before landing a job at a local trading company. Happy ending? Barely. The pay, $368 a month, is meager by Beijing standards, so he has had to move back in with his parents and he's too ashamed about the outcome of his job search to give his name. ...