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Dollar falls and European shares slip on U.S. fears
(Reuters)
Reuters - The dollar fell to an eight-month low against the yen on Friday while European and Asian shares slipped on worries U.S. growth data due later in the day may show the world's biggest economy is losing steam.
Economic growth seen slower in Q2 on imports
(Reuters)
Reuters - Economic growth likely slowed in the second quarter as a capital investment drive by businesses was sated by imports and consumer spending tapered off, a government report is expected to show on Friday.
SEC charges Wyly brothers with $550 million fraud
(Reuters)
Reuters - The Securities and Exchange Commission charged billionaire Samuel Wyly and his brother Charles with fraud for reaping more than $550 million of illicit gains by trading stock in four companies while they were serving as directors.
Disney sells Miramax for over $660 million to Filmyard
(Reuters)
Reuters - Walt Disney Co has sold film studio Miramax for more than $660 million to Filmyard Holdings LLC, ending months of talks between the media group and various bidders.
Citigroup to pay $75 million to settle SEC charges
(Reuters)
Reuters - Citigroup Inc will pay $75 million to settle charges that it failed to disclose subprime exposure to investors in 2007, the U.S. Securities and Exchange Commission said on Thursday.
European shares rise on strong earnings
(AFP)
AFP - Europe's leading stock markets advanced on Thursday, shaking off falls in Tokyo, as dealers reacted to a barrage of earnings from blue-chip companies, including strong numbers from telecoms.
AZ, FL, UT, VT to get Air Force's new F-35 fighter
(AP)
AP - The U.S. Air Force has chosen bases in Arizona, Florida, Utah and Vermont as homes for the military's F-35 Joint Strike Fighter, prompting applause from officials banking on the pricey new combat jets to supercharge their communities' economies.
Honda posts record quarterly profit on sales rise
(AP)
AP - Honda's quarterly profit ballooned to a record 272.4 billion yen ($3.2 billion) and the carmaker raised its full year earnings forecast as sales grew in North America, Japan and the rest of Asia.
Italy seeks private sponsors to restore Colosseum
(AP)
AP - Italian officials are seeking to raise some euro25 million (about $32 million) in private money to finance the restoration of one of the country's iconic landmarks: the Colosseum.
NY AG announces probe of life insurance industry
(AP)
AP - State Attorney General Andrew Cuomo said Thursday that he had opened a fraud investigation into how life insurers pay out benefits after policyholders die.
S&P raises Ukraine ratings after IMF deal
(AFP)
AFP - Standard and Poor's on Friday said it was raising its assessment of Ukraine's sovereign debt after the IMF agreed a 15 billion dollar package to help its economy emerge from the economic crisis.
Out-of-stock Kindle may mean new version coming
(Reuters)
Reuters - Amazon.com said its best-selling Kindle device was currently out of stock, leading one Internet analyst to surmise the online retailer was poised to launch a new version.
Florida mortgage firm settles federal charges
(AP)
AP - Federal regulators say a Florida company they accused of misleading borrowers who were seeking to avoid foreclosure has agreed to repay the consumers $2.4 million to settle those charges.
Dudley to outline BP plans to help Gulf recover
(AP)
AP - Incoming BP CEO Bob Dudley was set to outline his company's long-term efforts to help the Gulf of Mexico recover from the oil spill Friday morning, and will be getting help from a Clinton administration-era emergency management official.
10 Congressmen Who Should Be Fired
(The Daily Beast)
The Daily Beast - They tried to build a Bridge to Nowhere, fretted about "killing Grandma," and stiffed the IRS. John Avlon presents a rogue's gallery of House members who should be bounced come November, from Joe Wilson to Alan Grayson.
Honda posts record Q1 and Renault returns to H1 profit
(Reuters)
Reuters - Honda Motor Co (7267.T) raised its full-year forecasts after posting a record quarterly net profit on Friday, while brisk sales returned France's Renault to profit in the first half.
The Rebirth of Prague's Vltava River
(BusinessWeek)
BusinessWeek - When Petr Vojak was deciding where to settle down with his family last year, his aim was clear. He wanted somewhere peaceful yet central. Eventually, they decided on a new flat in a northern district along the Vltava river, which flows through Prague.