Today: BUSINESS News, Jul 16 2011

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Jul 16, 2011

BUSINESS News, Jul 16 2011

Would debt deal come easier at leafy Camp David?
Fri,15 Jul 2011 10:41 PM PDT
Reuters - WASHINGTON (Reuters) - Would it help improve the chances of a breakthrough in the deadlocked debt talks to take them to Camp David, the leafy presidential retreat far removed from Washington's political hothouse? Full Story
 
Obama eyes more deficit talks with no deal in sight
Fri,15 Jul 2011 10:41 PM PDT
Reuters -
photoWASHINGTON (Reuters) - President Barack Obama will decide on Saturday whether to summon lawmakers for a new round of debt and deficit talks, weighing the chances of progress as both sides stick to their positions on spending and taxes.

Democrat says will not let default on debt
Fri,15 Jul 2011 10:41 PM PDT
Reuters - WASHINGTON (Reuters) - Democrats have assured Republicans they would ensure the United States does not default on its debt and said Democrats would be willing to vote on an unconditional extension of the debt ceiling. Full Story

In a first for Starbucks, Chile workers strike
Fri,15 Jul 2011 08:05 PM PDT
Reuters -
photoSANTIAGO/LOS ANGELES (Reuters) - Starbucks Corp has been hit with its first strike at a company-operated cafe in Chile, where some workers are seeking pay and benefit increases, union and company representatives told Reuters on Friday.

Analysis: Hacking scandal turns up heat on News Corp board
Fri,15 Jul 2011 05:13 PM PDT
Reuters - NEW YORK (Reuters) - The resignations of two of Rupert Murdoch's top lieutenants are not expected to solve the corporate governance problems at his beleaguered media empire, which is widely criticized for having an over-cozy board. Full Story

Brokerage profits-and clients-take a vacation
Fri,15 Jul 2011 03:41 PM PDT
Reuters - NEW YORK (Reuters) - Investors left early for summer vacation, sapping midyear earnings for Charles Schwab Corp Full Story

AFTRA ratifies 3-1/2 year videogame contract
Fri,15 Jul 2011 03:06 PM PDT
Reuters - LOS ANGELES (TheWrap) - Videogame performers will be paid a streaming fee for their work under the terms of a contract the American Federation of Television and Radio Artists has approved, the union announced Friday. Full Story

Shell seeks sale of Canadian Mackenzie gas assets
Fri,15 Jul 2011 02:49 PM PDT
Reuters -
photoCALGARY, Alberta (Reuters) - Royal Dutch Shell Plc has put its stake in the C$16.2 billion ($16.8 billion) Mackenzie gas project up for sale, the first crack in the partnership set up to develop vast reserves in Canada's Arctic and build a pipeline to take the gas south.

S&P threatens downgrade of U.S. financial companies
Fri,15 Jul 2011 02:46 PM PDT
Reuters - NEW YORK (Reuters) - Standard & Poor's on Friday raised the pressure on debt negotiators in Washington, saying it could downgrade insurers, securities clearinghouses, mortgage agencies and a laundry list of other firms without a deal soon to lift the debt ceiling and cut the deficit. Full Story

Crunch European bank tests fail to quell doubts
Fri,15 Jul 2011 02:35 PM PDT
Reuters -
photoLONDON/MADRID (Reuters) - Eight European banks have failed a test of their ability to withstand a long recession and will have to raise just 2.5 billion euros ($3.5 billion) of capital, significantly less than expected.

Ex-trader pleads innocent to Ponzi scheme charges
Fri,15 Jul 2011 02:19 PM PDT
Reuters - CHICAGO (Reuters) - A former currency trader extradited from Peru pleaded not guilty in U.S. District Court on Friday to criminal fraud charges stemming from a Ponzi scheme that prosecutors said lured some 400 investors into losing at least $5 million. Full Story

Barclays appeals $4 billion owed to Lehman trustee
Fri,15 Jul 2011 02:15 PM PDT
Reuters -
photoNEW YORK (Reuters) - Barclays Plc is appealing a judge's ruling that handed the trustee for Lehman Brothers Holdings Inc's brokerage arm about $4 billion related to the rushed purchase of the failed investment bank's North American business.

Oils prop up TSX, but 3-week win stretch ends
Fri,15 Jul 2011 02:15 PM PDT
Reuters -
photoTORONTO (Reuters) - Toronto's main stock index closed higher on Friday, lifted by solid gains in its heavyweight resource groups as key commodity prices advanced.

Snapshots: Developments in debt talks
Fri,15 Jul 2011 02:14 PM PDT
Reuters -
photoWASHINGTON (Reuters) - Here is what is happening on Friday in negotiations to raise the U.S. $14.3 trillion debt limit.

Apple stock looks cheap ahead of results
Fri,15 Jul 2011 02:10 PM PDT
Reuters -
photoSAN FRANCISCO (Reuters) - Apple Inc should deliver yet another bumper quarter, but some investors are holding out for a monstrous second half when the new iPhone hits and a new online content service takes wing.

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