Today: BUSINESS News, Jul 26, 2011

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Jul 26, 2011

BUSINESS News, Jul 26, 2011

Greek debt swap process to start in August: deputy finmin
Mon,25 Jul 2011 11:39 PM PDT
Reuters - ATHENS (Reuters) - Procedures for a voluntary swap of privately-held Greek government bonds for longer maturity paper will start in August, Greece's deputy finance minister said on Tuesday. Full Story
 
BP tries to soothe investor ire as profits lag forecast
Mon,25 Jul 2011 11:28 PM PDT
Reuters - LONDON (Reuters) - BP PLC Chief Executive Bob Dudley tried to soothe investor frustration at the oil major's sluggish share price by promising rapid long-term growth as he gave a weak short-term outlook. Full Story

BP tries to soothe investor ire as profits lag forecast
Mon,25 Jul 2011 11:28 PM PDT
Reuters -
photoLONDON (Reuters) - BP PLC Chief Executive Bob Dudley tried to soothe investor frustration at the oil major's sluggish share price by promising rapid long-term growth as he gave a weak short-term outlook.

Asia shares jump, dollar slides on U.S. debt woes
Mon,25 Jul 2011 11:18 PM PDT
Reuters -
photoHONG KONG (Reuters) - Asian shares rebounded on Tuesday as upbeat earnings lured buyers, but the dollar slid to a record low against the Swiss franc after a speech by U.S. President Barack Obama gave no sign that a deadlock in Washington over raising the debt limit was easing.

UBS to cut costs as says to miss targets
Mon,25 Jul 2011 10:37 PM PDT
Reuters - ZURICH (Reuters) - Swiss bank UBS said on Tuesday it would slash costs and admitted it would miss targets set in 2009 after reporting disappointing second quarter profits hurt by sluggish markets and a strong franc. Full Story

Chrysler set to outpace Fiat, merger seen closer
Mon,25 Jul 2011 10:16 PM PDT
Reuters -
photoMILAN (Reuters) - Strong U.S. sales for Chrysler and growth in Brazilwill help offset a weak European market for Fiat SpA, combined financial results are set to show on Tuesday as the two car makers move closer toward a full merger.

Lawmakers deadlocked over debt deal as default looms
Mon,25 Jul 2011 10:00 PM PDT
Reuters -
photoWASHINGTON (Reuters) - The United States edged closer on Tuesday to a devastating default as Republicans and Democrats deadlocked over competing plans to raise the debt ceiling, one week before a deadline to act.

Voters blame Republicans, Obama on jobs: poll
Mon,25 Jul 2011 09:55 PM PDT
Reuters - WASHINGTON (Reuters) - More than a third of Americans believe President Barack Obama's policies have made the U.S. economy worse, but they blame Republicans just as much, according to a Washington Post-ABC News poll published on Tuesday. Full Story

TI forecasts modest third quarter
Mon,25 Jul 2011 09:36 PM PDT
Reuters - NEW YORK (Reuters) - Texas Instruments Inc forecast only modest sequential growth in the current quarter as orders were slower than usual for this time of year due to economic concerns in the United States and Europe. Full Story

Business borrowing jumps in June: ELFA
Mon,25 Jul 2011 09:10 PM PDT
Reuters - NEW YORK (Reuters) - A measure of business activity improved in June as companies borrowed more to replace equipment, a lender group said on Tuesday. Full Story

Snapshot: Developments in debt talks
Mon,25 Jul 2011 07:12 PM PDT
Reuters - WASHINGTON (Reuters) - Here is what is happening on Monday as lawmakers try to close in on a deal to raise the $14.3 trillion U.S. debt limit by August 2 and avoid a credit default: Full Story

Fox scores movie rights to ESPN's oral history book
Mon,25 Jul 2011 06:50 PM PDT
Reuters - LOS ANGELES (TheWrap) - As Keith Olbermann settles into life on a significantly smaller stage, ESPN, the network that made his name, may be heading to the big screen. Full Story

News Corp scandal transforms British power list
Mon,25 Jul 2011 05:21 PM PDT
Reuters - NEW YORK (TheWrap) - What could bring together the Murdochs and all of their rivals in the British publishing world? Full Story

Rival post-production houses Deluxe, Technicolor team up
Mon,25 Jul 2011 05:19 PM PDT
Reuters - LOS ANGELES (TheWrap) - Deluxe and Technicolor, historic rivals in Hollywood's post-production business, have announced a new agreement in which each will concede and subcontract a segment of its business to the other. Full Story

Timeline: Congress has a week to write a debt deal
Mon,25 Jul 2011 05:09 PM PDT
Reuters - (Reuters) - The Congress faces an August 2 deadline for raising the government's $14.3 trillion limit on borrowing and averting a potentially catastrophic default. Full Story

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