Reuters - Australian airline Qantas Airways Ltd reported a 2.5 percent fall in second-half profit on Thursday, below analysts expectations, as fuel prices soared, but predicted it would meet forecasts for the current year.

Reuters - New York's state attorney general office on Wednesday intensified its probe into auction-rate debt focusing on Bank of America Corp, Goldman Sachs and Deutsche Bank AG, while issuing a warning to brokerages.

By John Poirier 30 minutes ago WASHINGTON (Reuters) - California's attorney general is reviewing a request by former employees of IndyMac Bancorp Inc (IDMC. PK) to investigate whether a New York senator triggered the bank's collapse by releasing confidential information. At issue is a much-publicized letter that Chuck Schumer, a Democrat, sent in June to the Federal Deposit Insurance Corp (FDIC) and Office of Thrift Supervision (OTS) questioning the company's ability to survive.

By Steven C. Johnson 4 minutes ago NEW YORK (Reuters) - U. S. stocks rose on Wednesday as bank and energy shares rebounded even as investors dumped Fannie Mae and Freddie Mac on fears of an imminent government bailout of the housing finance companies. A 14 percent jump in quarterly profit for computer maker Hewlett-Packard (HPQ.

By Lynn Adler 5 minutes ago NEW YORK (Reuters) - Fannie Mae (FNM. N) and Freddie Mac (FRE. N) shares plunged to their lowest levels in almost 20 years on Wednesday, while the mortgage companies' bonds rallied on the belief that an increasingly likely government bailout would wipe out shareholders but secure their massive debt.

Reuters - A U.S. judge ruled in favor of shareholders suing Bristol-Myers Squibb about its disclosures while settling patent litigation with Canadian generic drug maker Apotex Inc over the blood-thinner Plavix.

By Karey Wutkowski 4 minutes ago WASHINGTON (Reuters) - Thousands of homeowners with distressed mortgage loans linked to failed lender IndyMac (IDMC. PK) may soon be able to avoid foreclosure under a program announced on Wednesday by U. S. banking regulators. The Federal Deposit Insurance Corp, which seized Pasadena, California-based IndyMac on July 11 in the third-largest bank failure in U.

5 minutes ago NEW YORK (Reuters) - U. S. stocks closed higher on Wednesday after Hewlett-Packard (HPQ. N) posted reassuring results and energy shares rebounded with oil, even as investors dumped Fannie Mae (FNM. N) and Freddie Mac (FRE. N) shares on fears of an imminent government bailout of the home financers.

By Lynn Adler 14 minutes ago NEW YORK (Reuters) - Investors dumped shares of Fannie Mae (FNM. N) and Freddie Mac (FRE. N), driving them to their lowest levels in more than 18 years on mounting fears of a government bailout that would wipe out the stock value of the two U. S. housing finance giants.

By Steven C. Johnson 12 minutes ago NEW YORK (Reuters) - U. S. stocks were little changed on Wednesday as investors' fear of a government bailout for Fannie Mae and Freddie Mac pushed their shares lower, offsetting gains by tech companies on strong results from Hewlett-Packard Co (HPQ. N). Shares of Fannie Mae (FNM.

By Walter Brandimarte 9 minutes ago NEW YORK (Reuters) - Stocks were little changed on Wednesday as strong results from Hewlett-Packard (HPQ. N) triggered a rally in the technology sector, but shares of Fannie Mae and Freddie Mac slumped to more than 17-year lows on fears the companies may need a government bailout.

1 hour, 52 minutes ago CALGARY, Alberta (Reuters) - Warren Buffett and Bill Gates, two of the world's richest men, toured Canadian Natural Resources Ltd's (CNQ. TO) Horizon oil sands project near Fort McMurray, Alberta, this week. According to local media reports, Gates and Buffett visited the C$9.

Reuters - Thousands of homeowners with distressed mortgage loans linked to failed lender IndyMac may soon be able to avoid foreclosure under a program announced on Wednesday by U.S. banking regulators.

Reuters - BJ's Wholesale Club Inc reported higher-than-expected quarterly earnings, but its shares fell nearly 7 percent as the retailer gave a disappointing forecast, signaling business could be tough in the fourth quarter that includes the crucial holiday season.

36 minutes ago NEW YORK (Reuters) - Stocks rose in choppy trading on Wednesday as investors snapped up shares of major technology companies after Hewlett-Packard (HPQ. N) reported a strong profit and outlook. A rebound in shares of financial services companies also lifted the market despite lingering worries about the soundness of home financing providers Freddie Mac (FRE.

32 minutes ago NEW YORK (Reuters) - Shares of Fannie Mae (FNM. N) and Freddie Mac (FRE. N) dove to their lowest levels in more than 18 years on mounting fears of a government bailout that would wipe out shareholders of the two U. S. housing finance giants. Freddie Mac executives are due to meet Treasury officials on Wednesday, possibly to get clarity about how the government will support the company and to reassure investors, according to The Wall Street Journal.

By Ellis Mnyandu 11 minutes ago NEW YORK (Reuters) - Stocks were little changed on Wednesday as rising oil prices and nagging concerns about the credit crisis offset a strong outlook and profit from Hewlett-Packard (HPQ. N), the world's largest computer maker. Shares of Fannie Mae (FNM. N) and Freddie Mac (FRE.

Wed Aug 20, 12:02 AM ET SHANGHAI (AFP) - Chinese share prices surged 5. 89 percent by midday Wednesday amid speculation that the authorities will soon launch new measures to boost the ailing stock market, dealers said. The benchmark Shanghai Composite Index, which covers A and B shares, was up 138.

By Ellis Mnyandu 15 minutes ago NEW YORK (Reuters) - Stock index futures rose on Wednesday as news of a solid quarterly profit and outlook from Hewlett-Packard (HPQ. N) , the world's largest computer maker, helped investors battle fears about the credit crisis. The HP news suggested that technology spending will hold up, particularly as demand from abroad offsets weakness in the United States.

2 hours, 26 minutes ago (Reuters) - Lehman Brothers (LEH. N) Chief Executive Dick Fuld nearly struck a deal to raise almost $5 billion from South Korean wealth funds and institutions but the pact disintegrated, the New York Post said citing sources familiar with the matter. One source told the paper that Lehman was aiming to raise more capital than the Korean investor was willing to invest at the time.

Reuters - BJ's Wholesale Club Inc said on Wednesday quarterly profit rose as shoppers headed to its stores in search of low prices on food and fuel, and the No. 3 U.S. warehouse club operator raised its full-year profit forecast.

By Karey Wutkowski Tue Aug 19, 2:32 PM ET WASHINGTON (Reuters) - The top U. S. securities regulator plans to propose a new short selling rule in the next few weeks which would be broader than an emergency order covering just 19 financial stocks which ended last week. U. S. Securities and Exchange Commission Chairman Christopher Cox said on Tuesday the proposal "will focus on market-wide solutions.

By Natsuko Waki 28 minutes ago LONDON (Reuters) - World stocks edged higher on Wednesday after the previous day's tumble to their lowest level in almost two years attracted some buyers, while rebounding commodity prices helped resource shares. The dollar rose towards the previous day's seven-month high against a basket of six major currencies, helped by expectations that growth outside the United States is deteriorating fast.

1 hour, 16 minutes ago (Reuters) - News Corp (NWSa. N) Chief Executive Rupert Murdoch's total compensation for 2008 fell 14 percent to about $27. 5 million, the company said in a regulatory filing. In a filing with the U. S. Securities and Exchange Commission on Tuesday, News Corp said Murdoch's base salary was $8.

By Seng Li Peng 57 minutes ago SINGAPORE (Reuters) - Oil prices extended gains to $115 a barrel on Wednesday, after a lower U. S. dollar rekindled buying in oil and other commodities. U. S. crude climbed 47 cents to $115 a barrel at 0823 GMT, rising for a second day, after prices had slid about 22 percent from the record peak of $147.

By John Bowker 1 hour, 8 minutes ago LONDON (Reuters) - Airports operator BAA, owned by Spain's Ferrovial (FER. MC), received a tougher-than-expected ruling from Britain's competition regulator on Wednesday, which said it should sell two of its three London airports because of problems created by its near monopoly.

Reuters - Shares of casino operators fell sharply on Tuesday amid concerns that the Chinese government may act to curtail visits by mainlanders to Macau, the only place in China where gambling is legal.

26 minutes ago (Reuters) - A joint venture created by LandCap Partners is buying $40 million of troubled land and construction loans from Wachovia Corp (WB. N) The Wall Street Journal said. LandCap, a residential-land company headed by real-estate veteran Jeffrey Gault, has created a joint venture that will buy the loans which have a book value of $75 million to $80 million, the paper said citing people familiar with the deal.

Reuters - EDGAR, the computer database for filing documents with the U.S. Securities and Exchange Commission, is giving way to a new system that aims to let investors more easily analyze corporate reports and other financial information.

By Kevin Plumberg 41 minutes ago HONG KONG (Reuters) - Most Asian stock markets edged higher on Wednesday, rebounding from a two-year low as Chinese shares surged on hopes for policies from Beijing to jumpstart growth, though many analysts said it was a long shot. The dollar struggled as crude oil crept above $115 a barrel and gold prices edged higher, taking some of the steam out of the U.

By Veronica Brown Tue Aug 19, 4:42 AM ET LONDON (Reuters) - European stocks slid in tandem with their Asian counterparts on Tuesday, haunted by renewed concern surrounding the top U. S. mortgage finance companies, while falling oil helped send the dollar to fresh peaks. Europe's shares were rattled, falling 1.

By Alexandria Sage 34 minutes ago SAN FRANCISCO (Reuters) - EBay Inc (EBAY. O) is cutting the fees U. S. sellers on its site pay for fixed-price items, in one of the company's boldest moves this year to boost merchandise for sale, lure new buyers and take on competitors. Total sellers' fees will decrease in most cases under eBay's plan to improve the balance between buyers and sellers on the world's largest online auction site, and thereby reduce customer defections to rivals such as Amazon.

Reuters - IBM plans to spend $300 million this year to build 13 "cloud computing" data centers where businesses can store information for quick retrieval in case their computer systems are destroyed in a disaster.

Reuters - A former hedge fund manager was ordered to pay nearly $300 million for having cheated clients by sending out fake account statements, the Commodity Futures Trading Commission said on Tuesday.

By Alister Bull 32 minutes ago ASPEN, Colo. (Reuters) - The U. S. Federal Reserve must be ready to take action if slowing economic growth fails to curb inflation stemming from higher food and energy prices, two top Fed policy-makers said on Tuesday, indicating that higher interest rates may be needed.

9 minutes ago SAN FRANCISCO (Reuters) - Hewlett-Packard Co (HPQ. N), the world's biggest computer maker, reported a higher quarterly profit on Tuesday on solid international sales in its computer and printer businesses, which overcame pockets of weak technology spending. HP reported net income for the fiscal quarter ending July 31 of $2.

11 minutes ago NEW YORK (Reuters) - U. S. stocks fell for a second day on Tuesday, as credit worries hit bank shares and a report showing inflation remains a threat despite slower growth escalated investor anxiety. Based on the latest available date, the Dow Jones industrial average was down 130. 84 points, or 1.

Reuters - Many traders scooped up defensive put options on Lehman Brothers Holdings Inc on Tuesday, betting its stock will suffer more losses.

By Steven C. Johnson 13 minutes ago NEW YORK (Reuters) - U. S. stocks fell for a second straight session on Tuesday as credit worries hit bank shares and a report showing inflation remains a threat despite slower growth stoked the market's anxiety. Fears that U. S. home finance firms Fannie Mae (FNM.

By ANNE D'INNOCENZIO, AP Business Writer 13 minutes ago NEW YORK - From affluent shoppers at Saks to bargain-hunters at Target, from Home Depot to office supplier Staples, consumers are pulling back and that's hurting retailers and raising more concerns about how they'll do the rest of the year.

25 minutes ago MOSCOW (AFP) - Investments in the bonds of struggling US home-loan financers Fannie Mae and Freddie Mac have earned Russia more than a billion dollars in the past six months, press reports said Tuesday. "The bonds in which we have invested have not incurred losses but instead have made us more than a billion dollars in the last six months," Russian Finance Minister Alexei Kudrin was quoted as saying by Ria Novosti news agency.

By Walter Brandimarte 4 minutes ago NEW YORK (Reuters) - Stocks fell more than 1 percent on Tuesday as financial shares declined on renewed credit worries and a report showed inflation is still a threat to the economy, despite the economic slowdown. Shares of financial companies were the biggest drag on the Dow and the S&P 500, with Bank of America (BAK.

Reuters - Private equity firm Carlyle Group said on Tuesday its Chairman Louis Gerstner will retire and become a senior adviser to the company's buyout funds.

By Ellis Mnyandu 6 minutes ago NEW YORK (Reuters) - Stocks fell 1 percent on Tuesday on a report showing sharply higher inflation, which could threaten the economy, and more worries that financial companies face steep credit losses. Data pointing to the slowest start rate in home building in more than 17 years highlighted the deterioration in housing.

Reuters - American Home Mortgage Investment Corp , which was among the largest U.S. home loan providers before seeking bankruptcy protection a year ago, said it will pay unsecured creditors no more than 5.9 cents on the dollar as it liquidates assets.

Reuters - The U.S. Federal Reserve must be ready to take action if slowing growth fails to curb inflation stemming from higher food and energy prices, one of its top policy-makers said on Monday.

Reuters - Target Corp reported a nearly 8 percent drop in quarterly profit on Tuesday as shoppers passed over trendy clothes and home decor in favor of every-day necessities, hurting its margins.

Reuters - Target Corp reported a lower quarterly profit on Tuesday as shoppers passed over purchases of trendy clothes and home decor in favor of every-day necessities, hurting its margins.

Reuters - Upscale retailer Saks Inc. posted a wider-than-expected quarterly loss on Tuesday, as even its well-to-do shoppers curbed spending as the economy weakens, and forecast a drop in its 2008 operating margin.

8 minutes ago NEW YORK - Luxury goods retailer Saks Inc. reported a wider-than-expected loss for the second quarter on Tuesday and delivered a downbeat forecast for the year as its affluent customers cut back on apparel amid a slowing economy. Shares of the operator of the Saks Fifth Avenue chain tumbled more than 9 percent in morning trading, falling $1.

26 minutes ago WASHINGTON (Reuters) - Home building projects started in July fell 11 percent to the lowest annual rate in more than 17 years, while building permits tumbled 17. 7 percent, the Commerce Department reported on Tuesday. The annual pace of housing starts at 965,000 slimly beat Wall Street's expectations of 960,000, but it was the lowest since a 921,000 unit rate in March 1991.

AP - Luxury goods retailer Saks Inc. is reporting a wider-than-expected loss in the second quarter as its affluent shoppers cut back on apparel amid a slowing economy.

Reuters - Lehman Brothers Holdings Inc may post a third-quarter loss and suffer about $4 billion in write downs, according to an analyst at J.P. Morgan Securities, who also said a sale of the company's Neuberger Berman business was unlikely.

By Glenn Somerville and Lisa Lambert 18 minutes ago WASHINGTON (Reuters) - Wholesale prices shot up in July at the fastest year-on-year rate since 1981, while home builders cut back on construction as they worked through a glut of unsold homes, government data showed on Tuesday. The reports offered little solace to the U.

By Ellis Mnyandu 6 minutes ago NEW YORK (Reuters) - Stock index futures fell on Tuesday as fears that the U. S. housing slump will spawn more losses for the financial sector, causing investors to pare back risk. As a result, Wall Street was poised to extend declines seen in Asia and in Europe. Adding to gloom about the financial sector was a forecast by JPMorgan Securities that Lehman Brothers (LEH.

Reuters - Wholesale prices took another unexpectedly steep jump in July and shot up at the fastest year-on-year rate in 27 years, according to a government report on Tuesday that was certain to fan fears about a potential surge in inflation.

By Ellis Mnyandu 11 minutes ago NEW YORK (Reuters) - Stocks were set to drop at the open on Tuesday as government data showed underlying inflation is picking up speed and investors worried that the credit crisis was far from over. Wall Street was likely to extend declines seen in Asia and in Europe.

AP - The Home Depot Inc., the nation's largest home improvement retailer, is reporting a 24 percent drop in second-quarter profits but beat expectations. The company is reiterating its downbeat outlook for the year as it struggles with a weak home market.

Reuters - Wholesale prices took another unexpectedly steep jump in July and shot up at the fastest year-on-year rate in 27 years, according to a government report on Tuesday that was certain to fan fears about a potential surge in inflation.

AP - The Home Depot Inc., the nation's largest home improvement retailer, reported a 24 percent drop in second-quarter profit but beat Wall Street expectations. The company reiterated its downbeat outlook for the year amid a weak housing and home improvement market that shows no signs of recovery.

13 minutes ago ATLANTA (Reuters) - Home Depot Inc (HD. N), the world's largest home improvement retailer, reported higher-than-expected quarterly profit on Tuesday as it held down costs and consumers took on spring projects. Earnings declined to $1. 2 billion, or 71 cents a share, in the second quarter ended on August 3, from $1.

20 minutes ago LONDON (Reuters) - Stock index futures pointed to a lower opening on Wall Street on Tuesday as investors, rattled by renewed worries over the health of the financial sector, brace for U. S. housing data. By 1009 GMT (6:09 a. m. EDT), S&P 500 futures, Dow Jones futures and Nasdaq 100 futures were all down 0.

Reuters - General Dynamics said it agreed to acquire Zurich-based Jet Aviation, a privately held provider of business aviation services, for about $2.25 billion in cash.

Reuters - Home Depot Inc , the world's largest home improvement retailer, reported a lower quarterly profit on Tuesday as sales fell and consumers took on fewer big-ticket renovation projects.

31 minutes ago LONDON (Reuters) - Oil prices fell to around $112 on Tuesday after a tropical storm in the Gulf of Mexico avoided oil and gas installations. U. S. crude was 71 cents lower at $112. 16 a barrel by 0916 GMT. London Brent crude fall 73 cents to $111. 21. Oil fell for the fourth trading day as Tropical Storm Fay, the sixth storm of the 2008 Atlantic season, swept over Florida.

By Kennix Chim and Tony Munroe 18 minutes ago HONG KONG (Reuters) - China's huge state banks are poised to report strong profit growth for the first half in 2008, thanks to wider margins and strong fee income, but funding costs are expected to rise in the second half, eroding growth. Chinese lenders are likely to face a harder time for the rest of the year and beyond as customers lock up funds in time deposits and move away from more profitable demand deposits, and as a weak stock market dents enthusiasm for investing in shares.

By Kiyoshi Takenaka 40 minutes ago TOKYO (Reuters) - Wireless operator Softbank Corp (9984. T) said on Tuesday it would offer mobile phones from Casio Computer Co (6952. T) by the end of the year, broadening a handset lineup that already includes Apple Inc's (AAPL. O) iPhone. Casio's handsets, known for their waterproof and shock-resistant features and advanced digital camera functions, are expected to help further boost the appeal of Softbank's mobile phone services among potential subscribers.

By Jan Dahinten 23 minutes ago SINGAPORE (Reuters) - The worst of the global financial crisis is yet to come and a large U. S. bank will fail in the next few months as the world's biggest economy hits further troubles, former IMF chief economist Kenneth Rogoff said on Tuesday. "The U. S.

14 minutes ago (Reuters) - A 1999 clinical study that Merck & Co Inc (MRK. N) said was done to test side effects of painkiller Vioxx was conducted primarily to support a marketing campaign before the drug's launch, The Wall Street Journal said, citing a study. Researchers told the paper that their findings, based on internal Merck records disclosed during litigation, are among the first to document a suspected industry practice of using studies masquerading as clinical science to bolster marketing plans.

14 minutes ago (Reuters) - U. S. automaker Chrysler LLC has filed a lawsuit in a Michigan court alleging supplier Johnson Controls Inc. (JCI. N) charged inflated prices for batteries, and is seeking more than $15 million in damages, the Wall Street Journal reported on Tuesday. In a lawsuit filed on Aug 14, Chrysler alleged Johnson Controls had charged Chrysler for more lead than it actually put into batteries, the report said.

by Chris Foley Sat Aug 16, 11:47 AM ET BEIJING (AFP) - Usain Bolt was crowned the world's fastest man when he raced to victory in the blue riband Olympic men's 100 metres final in a world record time of 9. 69 sec Saturday. The 21-year-old who had cruised through the heats and semi-finals beat home Richard Thompson of Trinidad and American Walter Dix as the first six runners all went under the 10 second barrier, a record for an Olympic final.

9 minutes ago NEW YORK (Reuters) - Lehman Brothers Holdings Inc (LEH. N) has been marketing its asset management unit to a number of buyers including private equity firms, a source familiar with the situation told Reuters on Monday. Analysts and bankers have recently said that Lehman may opt to part with its asset management business to further boost its capital.

Reuters - Chinese economic growth can deliver a potentially massive boost to global energy demand with clear implications for long-term oil prices, Dallas Federal Reserve Bank President Richard Fisher said on Monday.

By Steven C. Johnson 17 minutes ago NEW YORK (Reuters) - U. S. stocks sank on Monday as the prospect of more losses from the mortgage crisis hurt the shares of banks and the two biggest home finance providers, pushing all three major indexes down about 1. 5 percent. Fannie Mae (FNM. N) and Freddie Mac (FRE.

11 minutes ago NEW YORK (Reuters) - U. S. stocks tumbled on Monday on the prospect of more losses from the mortgage crisis, with shares of banks and the two biggest home finance providers sending the major indexes down about 1. 5 percent. Shares of Fannie Mae < and Freddie Mac < lost more than 20 percent each after Barron's reported that the U.

By Soyoung Kim and Kevin Krolicki 10 minutes ago DETROIT (Reuters) - General Motors Corp (GM. N), aiming to boost sagging sales, rolled out a major new promotion to U. S. dealers that includes employee-level discounts on almost all its mass-market Chevrolet vehicles, people briefed on the promotion said on Monday.

By Franklin Paul 13 minutes ago NEW YORK (Reuters) - Electronic Arts Inc (ERTS. O) will drop its hostile $2 billion bid for rival video game publisher Take-Two Interactive Software Inc (TTWO. O) on Monday and instead pursue private talks with the company. While shares of Take-Two fell 4 percent on the specter that EA might walk away entirely, or come back with a lower bid, analysts said a deal was more probable now that friendly talks were in the offing.

By Karen Jacobs 32 minutes ago ATLANTA (Reuters) - Retailer Lowe's Cos (LOW. N) reported a higher-than-expected quarterly profit on Monday as U. S. consumers spent tax rebate checks on spring projects, but it forecast third-quarter results below Wall Street estimates. Lowe's stock, which initially rose as much as 4 percent, was barely higher at mid-afternoon as the cautious outlook offset the strong second-quarter performance and market share gains.

28 minutes ago DETROIT (Reuters) - General Motors Corp (GM. N) will offer employee-level pricing on nearly 90 percent of inventory for its main Chevrolet brand as part of a new nationwide sales promotion, a dealer briefed on the plans said on Monday. The offer starts Wednesday, runs until September 2 and applies to all 2008 model year Chevrolet vehicles, according to the dealer, who was not authorized to discuss the GM plan.

33 minutes ago NEW YORK (Reuters) - Freddie Mac's (FRE. N) latest debt sale drew anemic demand on Monday, a day after Barron's reported an increasing likelihood the U. S. Treasury may essentially take over Freddie and rival Fannie Mae (FNM. N). The weekly financial newspaper said such a move could wipe out existing holders of the largest U.

21 minutes ago WASHINGTON (Reuters) - Home builder sentiment was stuck at a record low in August, as stringent lending and a flood of foreclosed homes dragged on the real estate market, according to data from the National Association of Home Builders released on Monday. The NAHB/Wells Fargo Housing Market index held at 16 in August for a second straight month, the group said in a statement.

28 minutes ago DETROIT (Reuters) - General Motors Corp (GM. N) will roll out a major new sales promotion to U. S. dealers on Monday as it prepares events to mark the 100th anniversary of its founding, people briefed on the automaker's plans said. The terms of the new sales incentives were not yet disclosed.

By Steven C. Johnson 15 minutes ago NEW YORK (Reuters) - Stocks fell on Monday as investors fretted about the prospect of more losses from the mortgage crisis, bruising shares of the two big U. S. home finance providers and other financial companies. A one-two punch of gloomy financial news undermined market sentiment on Monday and reminded investors that the credit crisis and housing slump were far from over.

7 minutes ago NEW YORK (Reuters) - Stocks extended losses on Monday as shares of home finance companies Fannie Mae(FNM. N) and Freddie Mac (FRE. N) slid further on concerns about the prospect of more fallout from the U. S. housing slump. Both stocks contributed to a broad sell-off in financial shares.

By Ellis Mnyandu 44 minutes ago NEW YORK (Reuters) - Stocks fell on Monday as investors fretted about the prospect of more losses from the mortgage crisis, sending shares of the two big U. S. home finance providers and other financial companies lower. Investors were hit with a one-two punch from news pointing to no let up in the credit crisis stemming from the U.

By Karen Jacobs 21 minutes ago ATLANTA (Reuters) - Retailer Lowe's Cos (LOW. N) reported a higher-than-expected quarterly profit on Monday, helped by U. S. consumers spending tax rebate checks, and raised its full-year forecast, sending shares up about 2 percent. Lowe's, the second-largest home-improvement chain behind Home Depot Inc (HD.

Reuters - J.P. Morgan Securities' U.S. equity strategists saw opportunity in going "short" energy and "long" financials, as capital flows and macro developments were likely to be less favorable to energy relative to financials.

41 minutes ago NEW YORK (Reuters) - Electronic Arts Inc (ERTS. O) has decided to let its $2 billion buyout offer for Take-Two Interactive Software Inc (TTWO. O) expire on Monday, but the two video game publishers are still in private talks. EA said on Monday that it no longer believed it could benefit from completing an integration of Take-Two before the holiday shopping season, and that it had to reassess the value of its $25.

AP - Lowe's Cos. Inc. reported a 7.9 percent decline in second-quarter profit on Monday, but still topped Wall Street expectations as the nation's second-largest home improvement retailer benefited from tight expense controls and the government stimulus checks.

By Ellis Mnyandu 10 minutes ago NEW YORK (Reuters) - Stock index futures rose on Monday as oil prices cut earlier gains and an easing of geopolitical concerns surrounding Pakistan's leadership underpinned sentiment. U. S. front-month crude backed off from an earlier $115. 35 a barrel as supply fears related to Tropical Storm Fay ebbed.

25 minutes ago ATLANTA (Reuters) - Retailer Lowe's Cos (LOW. N) reported a higher-than-expected second-quarter profit on Monday as consumers used their tax-rebate checks to take on spring projects. Lowe's, the second-largest home-improvement chain behind Home Depot Inc (HD. N), forecast earnings for the third quarter below current Wall Street estimates but raised its full-year outlook slightly.

Fri Aug 15, 5:07 PM ET NEW YORK (AFP) - US stocks closed narrowly mixed Friday as falling oil prices tamped down inflation worries and the dollar continued to rally on mounting signs of a slowing global economy. The Dow Jones Industrial Average advanced 43. 97 points (0. 38 percent) to close at 11,659.

AP - Lowe's Cos. Inc. says its second-quarter profit fell 7.9 percent, but still topped Wall Street expectations. The nation's second-largest home improvement retailer is offering a downbeat sales and profit outlook, however, as it feels the pain from a weak housing market.

39 minutes ago (Reuters) - Bankrupt home furnishings retailer Linens 'n Things has devised a plan to emerge from bankruptcy early next year, the New York Post reported. Under the plan, the retailer will reverse many of the strategies introduced after the company was bought for $1. 3 billion in 2005 by billionaire Leon Black's buyout firm Apollo Management, the paper quoted sources as saying.

By David Dolan 5 minutes ago TOKYO (Reuters) - Mitsubishi UFJ Financial Group (8306. T) has sweetened its bid for full control of California bank UnionBanCal Corp (UB. N) by 17 percent to $3. 5 billion, a deal that would help Japan's biggest bank expand in the United States. Mitsubishi UFJ said it had raised its offer to $73.

By Fang Yan 22 minutes ago SHANGHAI (Reuters) - General Motors Corp (GM. N) has had preliminary talks with Hunan Changfeng Motor Co (600991. SS) on a possible sale of its Hummer brand but the Chinese sport utility vehicle (SUV) maker has backed off, a source with direct knowledge of the matter said.

5 minutes ago LONDON (Reuters) - Stock futures pointed to a lower opening on Wall Street on Monday as oil prices rise, denting recent optimism over a recovery in consumer spending. By 0824 GMT, S&P 500 futures were down 0. 38 percent, Dow Jones futures down 0. 37 percent and Nasdaq 100 futures down 0.

58 minutes ago SYDNEY (Reuters) - Top miner BHP Billiton (BLT. L) (BHP. AX), bidding for rival Rio Tinto (RIO. L) (RIO. AX) in what would be the world's second-biggest takeover, posted a 12. 4 percent rise in full-year net profit to a record $15. 4 billion, as Chinese demand stoked a commodities boom.

24 minutes ago TOKYO (Reuters) - Mitsubishi UFJ Financial Group (MUFG) (8306. T), Japan's largest bank, said on Monday it had sweetened its bid for control of U. S. unit UnionBanCal Corp (UB. N) by about 17 percent to $3. 5 billion. MUFG, Japan's largest bank, had said last week that it would launch a tender offer for the 35 percent it does not already own in UnionBanCal at $63 for each share, but the California bank had dismissed the offer as too low.

By Tony Munroe 7 minutes ago HONG KONG (Reuters) - Citigroup Inc (C. N), the largest U. S. bank by assets, unveiled a reorganization of its Asia-Pacific business on Monday that gives regional heads increased authority across the bank's sprawling product lines. Citigroup's Asia business will be split geographically into Japan, North Asia, South Asia and Southeast Asia Pacific, and will be divided across seven product groupings.

50 minutes ago (Reuters) - Morgan Stanley (MS. N) is responding to the credit crisis with a system that uses the market's view of its own creditworthiness as a basis for lending decisions, the Financial Times said late on Sunday, citing a person familiar with the situation. Wall Street's second-largest investment bank is essentially tying its promise to provide financing to hedge fund clients to the prices of credit insurance on its own debt.

22 minutes ago HONG KONG (Reuters) - U. S. financial services giant Citigroup on Monday unveiled a reorganization of its Asia-Pacific business into four regions and seven product groupings under its new Asia chief executive, Ajay Banga. Citigroup's Asia business will be split geographically into Japan, North Asia, South Asia and Southeast Asia Pacific.

40 minutes ago SYDNEY (Reuters) - Commonwealth Bank of Australia (CBA) (CBA. AX), the country's No. 2 bank by assets, may offer over A$6 billion ($5. 2 billion) to British bank HBOS (HBOS. L) for its Australian unit BankWest, the Australian newspaper reported on Monday. CBA declined to comment on the report.

2 hours, 7 minutes ago NEW YORK (Reuters) - Some analysts are girding for a third-quarter loss of $1. 8 billion or more from U. S. investment bank Lehman Brothers Holdings Inc (LEH. N), instead of the modest profit they had previously expected, the Wall Street Journal reported on Sunday. If losses keep piling up, Lehman could need to raise additional capital beyond the $6 billion it got in June, the paper said.

Reuters - U.S. automaker General Motors Corp. has pulled out of its longtime sponsorship of the Academy Awards, one of the biggest annual events on broadcast television, the Wall Street Journal reported on Sunday.

Reuters - Apparel retailer American Eagle Outfitters prices and concentration on jeans and T-shirts, both back-to-school staples, should help give it a boost among cost-conscious teens during a challenging retail environment, Barron's reported in its August 18 edition.

AP - Questions and answers on how consumers can ensure they are getting an honest appraisal when buying or selling a home, refinancing an existing mortgage or taking out a home equity loan or line of credit:

Reuters - The financial crisis will probably not end until next year or even 2010, Germany's Handelsblatt newspaper quoted Morgan Stanley co-President Walid Chammah as saying in a preview of its Monday edition.

Reuters - Tribune Co has appointed the former chief executive of satellite television provider DirecTV as publisher of the Los Angeles Times, the paper said in its Saturday edition.

Sat Aug 16, 6:11 AM ET ZURICH (Reuters) - UBS AG's (UBSN. VX) chairman is sure the troubled Swiss bank will still be independent in two years' time, according to an interview published on Saturday. "I am certain about that," Peter Kurer told Swiss newspaper Basler Zeitung. "We have now laid the foundation for a new future.

Reuters - Regulators upheld a record $10.2 million fine against Southwest Airlines Co for alleged safety violations and want payment this month, the U.S. Federal Aviation Administration said on Friday.

28 minutes ago NEW YORK (Reuters) - Lehman Brothers (LEH. N) is in talks for potential sale of its $40 billion portfolio of commercial real estate and securities in an effort to bolster its finances following costly credit-related write-downs, the Financial Times said in its online edition. The investment bank wants to sell the assets either as a whole or in pieces, the FT said, citing people who have been involved in the discussions between Lehman and potential buyers.

Reuters - Bolstered by falling oil prices and a rising dollar, U.S. stocks could extend their modest gains next week, even in the face of still troubling consumer- and housing-related data.

Reuters - Candy maker Hershey Co said on Friday it was raising U.S. prices by roughly 10 percent and warned that the higher cost of ingredients such as cocoa, corn sweetener, sugar and peanuts would weigh on profits.

By Ros Krasny 28 minutes ago BLOOMINGTON, Illinois (Reuters) - Two top Federal Reserve officials on Friday voiced concern about weak U. S. economic growth for the rest of 2008 and said inflation, while a worry, should start to fade over time. The comments by Chicago Federal Reserve Bank President Charles Evans and Atlanta Fed Bank President Dennis Lockhart suggested the Fed is in no hurry to start raising interest rates while the economy remains in a funk.

By ANNE D'INNOCENZIO, AP Business Writer 20 minutes ago NEW YORK - The lower profits and muted outlooks this week from retailers such as J. C. Penney Co. , Macy's Inc. and Nordstrom Inc. are heightening concerns among investors that shoppers' focus on necessities and buying at discounters could linger well into next year.

Reuters - Cookie retailer Mrs. Fields Famous Brands LLC said on Friday it plans to file for Chapter 11 bankruptcy protection, according to a U.S. Securities and Exchange Commission filing.

By Nicole Maestri 20 minutes ago NEW YORK (Reuters) - J. C. Penney Co Inc (JCP. N) and Abercrombie & Fitch Co (ANF. N) said quarterly profits beat Wall Street expectations, but came up short in their earnings forecasts, joining other U. S. retailers who fear a deeper slowdown in consumer spending toward year's end.

Reuters - New York state will soon take legal action against Merrill Lynch & Co over auction-rate securities as part of its industrywide investigation into banks that mishandled the risky debt, Attorney General Andrew Cuomo said on Friday.

Reuters - Employees at a Wal-Mart Stores Inc. outlet in Canada won an arbitrator-imposed contract on Friday, becoming the giant retailer's only location in North America with a collective agreement in place.

Reuters - Cablevision Systems Corp appeared to bow to pressure from investors when it said on Friday that its board had agreed to initiate a regular quarterly dividend.

AP - Abercrombie & Fitch Co. said Friday that second-quarter profit fell amid a consumer spending slowdown, but the teen-apparel retailer said it will not become more promotional just to drive short-term results.

By Ellis Mnyandu 15 minutes ago NEW YORK (Reuters) - Stocks rose in choppy trading on Friday as falling commodity prices buoyed hopes of a revival in consumer spending, boosting the outlook for economic and profit growth. Strength in the U. S. dollar fueled the decline in global commodity prices, pushing U.

Reuters - Chrysler LLC aims to cut its supply chain costs by 25 percent in the next three years, John Campi, the automaker's executive vice president of procurement, said on Friday.

Reuters - Wachovia Corp has agreed to buy back $8.5 billion in auction-rate debt, the latest in a series of settlements by major banks to restore liquidity to U.S. investors, New York Attorney General Andrew Cuomo said on Friday.

Reuters - New York Attorney General Andrew Cuomo says Merrill Lynch will be receiving a letter today saying his office is preparing to commence legal action.

By Jan Harvey 12 minutes ago LONDON (Reuters) - Gold found support below $790 an ounce after falling nearly 5 percent in early European trade on Friday, as the precious metals' downward slide ran out of steam. Spot gold hit an intraday low of $773. 90, its weakest since November 20, before recovering to trade at $789.

10 minutes ago NEW YORK (Reuters) - Stocks were little changed on Friday, cutting opening gains, as a drop in shares of energy and oil services companies tempered optimism about consumer and business spending benefiting from lower crude prices. The energy sector fell along with other global commodities as the U.

Reuters - U.S. gold futures tumbled below $800 an ounce at the open of Friday's pit trade, and other precious metals likewise slid sharply to recent lows as a dollar surge prompted a widespread sell-off across commodities.

Reuters - Consumer confidence improved slightly in early August thanks to a drop in gasoline prices, but worries about a recession still weighed heavily on consumers' minds, according to a survey released on Friday.

Reuters - A gauge of manufacturing in New York state surprisingly rose, gaining for the first time since April although by a modest margin, the New York Federal Reserve said in a report on Friday.

Reuters - Capital One Financial Corp , one of the largest issuers of MasterCard and Visa credit cards, said on Friday more borrowers are falling behind on their auto loans, while credit metrics in its U.S. credit card portfolio were more stable.

27 minutes ago NEW YORK (Reuters) - J. C. Penney Co Inc (JCP. N) said on Friday quarterly profit fell 36 percent and forecast earnings for the current quarter below Wall Street expectations, hurt by cutbacks in consumer spending. The mid-tier department store operator, whose shares fell 3 percent in pre-market trading, said net income fell to $117 million, or 52 cents per share, for its fiscal second quarter, ended August 2, from $182 million, or 81 cents per share, a year earlier.

Reuters - Retailer J.C. Penney Co Inc said on Friday quarterly profit fell 36 percent, hurt by cutbacks in consumer spending, and forecast further sales declines for the current quarter.

By Ellis Mnyandu 3 minutes ago NEW YORK (Reuters) - Stock index futures rose on Friday as the strengthening U. S. dollar drove global commodity prices down, boosting hopes of a rebound in consumer spending and an easing of inflation. Commodity markets hit the skids as the dollar's rally found fresh impetus, sending gold and oil prices lower.

Reuters - Teen clothing retailer Abercrombie & Fitch Co reported a lower quarterly profit on Friday, hurt by a higher tax rate and declining sales at stores open at least a year.

Reuters - Teen clothing retailer Abercrombie & Fitch Co reported a lower quarterly profit on Friday and forecast full-year earnings below analysts' estimates, as the weak U.S. economy leads consumers to cut back on buying clothes.

1 hour, 22 minutes ago LONDON (Reuters) - Stock futures pointed to a higher opening on Wall Street on Friday as a sharp drop in commodity prices further eased worries over consumer spending and inflation. By 0918 GMT (5:18 a. m. EDT), S&P 500 futures were up 0. 43 percent, the Dow Jones futures were up 0.

37 minutes ago MOSCOW (Reuters) - Best Buy Co Inc (BBY. N), the leading U. S. electronics chain, is expanding into Russia, having registered its Future Shop trademark to operate on the fast-growing market, two business dailies reported on Friday. Vedomosti, citing the government patent agency Rospatent, said BestBuy had entered its license application for Future Shop, a Canadian subsidiary, in 2006, but has never voiced any intentions of opening stores in Russia.

17 minutes ago LONDON (Reuters) - Oil dropped by $2 to $113 a barrel on Friday to trade near the lowest since early May, pressured by faltering global demand and rising supply. Crude has fallen sharply since reaching an all-time high of $147. 27 a barrel on July 11 partly on concern about weakening demand and fell as low as $112.

44 minutes ago (Reuters) - Deutsche Telekom's (DTEGn. DE) T-Mobile USA will be the first carrier to offer a mobile phone based on Google Inc's (GOOG. O) Android software, the New York Times reported, citing people briefed on the company's plans. The high-end phone, which will be made by the world's top smartphone maker High Tech Computer Corp (2498.

Reuters - The U.S. government has asked bankrupt auto parts maker Delphi Corp to transfer more than $1.5 billion of unfunded pension obligations to former parent General Motors Corp by September 30, the New York Times said.

Reuters - Google Inc's India subsidiary is being sued for alleged defamation in the Bombay High Court by an Indian construction equipment company, The Wall Street Journal said.

Reuters - Ford Motor Co is expected to announce Friday that it will build a new seven-passenger luxury crossover, the Wall Street Journal said, citing two people familiar with the automaker's plans.

Reuters - Kohl's Corp , a mid-priced apparel and home goods retailer, reported a quarterly profit on Thursday that beat Wall Street's expectations and raised its full-year forecast, saying tight expense controls would help it weather a tough U.S. economy.

10 minutes ago WASHINGTON (Reuters) - American Airlines, a unit of AMR Corp (AMR. N), knowingly flew planes that needed safety repairs, the U. S. government charged on Thursday in a letter that proposed a $7. 1 million fine against the carrier. The Federal Aviation Administration (FAA) said the fine, one of the biggest ever imposed, also covered accusations of deficiencies in American's drug and alcohol testing programs and alleged violations of inspection procedures for aircraft exit lighting.

AP - Second-quarter profits from three major retailers — Wal-Mart Stores Inc., the world's largest merchant, upscale department store Nordstrom Inc. and mid-level chain Kohl's Corp. — underscore a widening gap between low-price operators and high-end apparel sellers as consumers focus on necessities and avoid discretionary splurges.

18 minutes ago WASHINGTON (Reuters) - The U. S. government proposed a $7. 1 million fine on Thursday against American Airlines, a unit of AMR Corp (AMR. N), for allegedly deferring maintenance on safety-related equipment and other problems. The Federal Aviation Administration (FAA) said in a statement that American was aware that certain repairs were needed on two MD-83 planes but intentionally operated the aircraft on dozens of flights in 2007 without first doing the work.

By MARTIN CRUTSINGER, AP Economics Writer 30 minutes ago WASHINGTON - Rates on 30-year mortgages remained at the same level for a third week while rates on other types of home loans posted small declines. Freddie Mac, the mortgage company, reported Thursday that 30-year, fixed-rate mortgages averaged 6.

6 minutes ago NEW YORK (Reuters) - Stocks rose in thin trade on Thursday as another decline in the price of oil buoyed hopes that consumer spending will recover and financial shares bounced back from a sharp two-day sell-off. The Dow Jones industrial average rose 83. 46 points, or 0. 72 percent, to end unofficially at 11,616.

By Kristina Cooke 8 minutes ago NEW YORK (Reuters) - Stocks rose in thin trading on Thursday as another decline in the price of oil buoyed hopes that consumer spending will recover and financial shares bounced back from a sharp two-day sell-off. The market had initially fallen after government data showed consumer prices rose at twice the rate expected in July, while weekly jobless data showed further deterioration in the labor market.

Reuters - Gannett Co Inc plans to eliminate 1,000 positions from its local newspapers around the U.S. because of declining advertising and circulation revenue, and may cut more if those conditions persist.

By Jonathan Stempel 9 minutes ago NEW YORK (Reuters) - Morgan Stanley (MS. N) and JPMorgan Chase & Co (JPM. N) agreed to buy back billions of dollars of illiquid auction-rate securities and pay fines to settle charges that they misled investors about the debt's risk. The settlements, announced Thursday by New York Attorney General Andrew Cuomo, call for Morgan Stanley to buy back $4.

Reuters - Texas oil billionaire T. Boone Pickens said on Thursday crude prices may soon fall as low as $110 a barrel amid falling gasoline demand, but should not sink below $100 because the United States depends heavily on oil imports.

52 minutes ago NEW YORK (Reuters) - Morgan Stanley (MS. N) and JPMorgan Chase & Co (JPM. N) have agreed to buy back more than $7 billion of illiquid auction-rate securities to settle regulatory charges they misled investors about the debt's risk. The settlements announced Thursday by New York Attorney General Andrew Cuomo call for Morgan Stanley to pay a $35 million fine and JPMorgan to pay $25 million.

By Ellis Mnyandu 23 minutes ago NEW YORK (Reuters) - Stocks rose in thin trading on Thursday after oil prices fell anew, buoying hopes that consumer spending will recover, while financial shares rebounded from a sharp two-day sell-off. The revival on Wall Street followed an initial drop sparked by government data that showed consumer prices rose at twice the rate expected in July, while in the latest week, there was further deterioration in the labor market.

By Nicole Maestri 9 minutes ago NEW YORK (Reuters) - Wal-Mart Stores Inc (WMT. N) second-quarter profit jumped 17 percent, but the discount retailer forecast current quarter results that could miss Wall Street estimates as consumers worldwide deal with tough economic times. Executives at the world's largest retailer said on Thursday that a boost from U.

By Martinne Geller 32 minutes ago NEW YORK (Reuters) - Is the tech-savvy fashionista ready to shop by mobile phone? Polo Ralph Lauren Corp (RL. N) hopes so. Polo is the first luxury retailer to launch a mobile commerce site, hoping to stay ahead of a trend that is making its way from Asia to the United States, said David Lauren, senior vice president of advertising and son of designer and Chief Executive Ralph Lauren.

40 minutes ago NEW YORK (Reuters) - Morgan Stanley (MS. N) and JPMorgan Chase & Co (JPM. N) have agreed to settlements with New York state stemming from alleged mishandling of sales of auction-rate securities, the state's attorney general said on Thursday. Morgan Stanley has agreed to pay a $35 million penalty, while JPMorgan will pay $25 million, New York Attorney General Andrew Cuomo said.

Reuters - New Hampshire securities regulators sued Swiss bank UBS AG Thursday on charges of improperly selling securities to help students finance their education.

10 minutes ago NEW YORK (Reuters) - The Nasdaq turned positive on Thursday as investors snapped up beaten-down big-cap technology shares, including Research In Motion (RIMM. O) , while a rebound by financial companies after two days of losses helped the S&P 500 and the Dow to pare losses. Even so, investors were cautious after government data showed that consumer price pressures mounted in July and the labor market weakened, clouding the corporate profit outlook.

By Ellis Mnyandu 11 minutes ago NEW YORK (Reuters) - Stocks headed for a lower open on Thursday following data that showed consumer price pressures mounted in July and the labor market weakened, clouding the corporate profit outlook. The Labor Department's Consumer Price Index rose at twice the rate expected in July for the fastest year-over-year inflation rate in 17-1/2 years.

By ANNE D'INNOCENZIO, AP Business Writer 4 minutes ago NEW YORK - Wal-Mart Stores Inc. posted a 17 percent increase in second-quarter profit Thursday and raised its full-year earnings forecast, helped by cost cuts and a renewed focus on low prices that is attracting financially squeezed shoppers around the world.

7 minutes ago NEW YORK (Reuters) - Stock index futures fell on Thursday following economic data that showed consumer price pressures mounted in July, fanning inflation concerns. In a separate report, the government reported that the number of people filing new claims for jobless benefits fell but the level of claims was well above economists' expectations, suggesting labor market strain.

By Glenn Somerville 10 minutes ago WASHINGTON (Reuters) - Consumer prices climbed at twice the rate expected in July and job prospects kept softening last week, according to Labor Department reports on Thursday that pointed to swelling economic stress. The department's Consumer Price Index, the most commonly used inflation gauge, rose 0.

18 minutes ago WASHINGTON (Reuters) - Consumer prices rose at twice the rate expected in July to post the fastest rate of year-over-year growth in 17-1/2 years, pushed up by costlier energy and food, a government report on Thursday showed. The Labor Department said the Consumer Price Index, considered a key gauge of inflation, rose 0.

By Ellis Mnyandu 54 minutes ago NEW YORK (Reuters) - Stock index futures rose on Thursday after Wal-Mart Stores Inc (WMT. N) posted a stronger-than-expected quarterly profit, calming worries about consumer spending. The world's biggest retailer also raised its full-year profit outlook but gave a cautious outlook for the current quarter.

By Nicole Maestri 9 minutes ago NEW YORK (Reuters) - Wal-Mart Stores Inc (WMT. N) reported a 17 percent rise in quarterly profit and raised its full-year earnings view, as shoppers seek low prices on food, health-care products and electronics its stores. But Wal-Mart, the world's largest retailer, also forecast on Thursday profit for the current quarter that could miss Wall Street targets.

Reuters - JPMorgan Chase & Co and Morgan Stanley are close to settling with government regulators to buy back auction-rate debt from clients, Bloomberg News said on Thursday, citing people briefed on the negotiations.

26 minutes ago LONDON (Reuters) - Stock futures point to a higher opening on Wall Street on Thursday, reversing some of the previous session's losses while investors await for key inflation data, as well as earnings from Wal-Mart Stores (WMT. N), the world's biggest retailer. By 0905 GMT, S&P 500 futures were up 0.

5 minutes ago NEW YORK - Wal-Mart Stores says profit rose 17 percent in the second quarter and is raising its full-year forecast as the world's largest retailer benefits from low prices that are attracting shoppers in a challenging economy, and its moves to cut costs. The Bentonville, Ark. -based retailer says net income was $3.

Reuters - Clothing and home goods retailer Urban Outfitters Inc posted a 79 percent jump in quarterly profit, beating market estimates, driven by strong same-store sales across all its branded stores and fewer markdowns that boosted gross profit margins.

19 minutes ago NEW YORK (Reuters) - Wal-Mart Stores Inc (WMT. N) reported a 17 percent rise in quarterly profit on Thursday as shoppers headed to its stores for low prices on food, health care products and electronics, and the discount retailer raised its full-year earnings outlook. But Wal-Mart, the world's largest retailer, forecast profit for the current quarter that could miss Wall Street targets.

25 minutes ago TRAVERSE CITY, Michigan (Reuters) - Ford Motor Co (F. N) starts producing its new global subcompact, the Fiesta, on Thursday, a key launch as the automaker aims to cut manufacturing and development costs worldwide. Ford, which posted an $8. 7 billion second-quarter loss, sees the Fiesta as a blueprint for its product development efforts that include a global platform for its Focus compact car that has been built on differing platforms.

Reuters - BMW will recall around 200,000 vehicles to remedy a possible defect that could keep the front passenger airbag from opening in a crash, the world's biggest premium carmaker said.

Reuters - U.S. foreclosure activity in July rose 55 percent from a year earlier as a slump in once-sizzling housing markets forced yet more borrowers to default on their mortgages, according to a monthly report.

8 minutes ago (Reuters) - Barnes & Noble Inc, the largest U. S. specialty bookseller, is unlikely to make a bid for rival Borders Group Inc, The Wall Street Journal said, citing people familiar with the situation. Barnes & Noble had said it was looking into a potential acquisition of Borders, the second-largest specialty bookseller.

Reuters - American Airlines, British Airways and Iberia are set to announce on Thursday they are applying for antitrust immunity from competition authorities in the United States and Europe in order to form a trans-Atlantic joint venture, the Financial Times reported in its online edition.

32 minutes ago (Reuters) - Barnes & Noble Inc (BKS. N) isn't expected to make a bid for Borders Group Inc (BGP. N), The Wall Street Journal said citing people familiar with the situation. Borders, which put itself up for sale in March, hopes to complete the auction by the end of September, the paper said citing a person close to the company.

6 minutes ago HONG KONG (AFP) - A Chinese retailer has postponed plans to raise a billion US dollars on the Hong Kong stock exchange amid allegations of improper accounting, the Wall Street Journal said Thursday. The Hong Kong-incorporated clothing retailer ITAT Group announced the planned initial public offering a year ago.

Reuters - Labor groups are requesting an investigation into whether Wal-Mart Stores Inc violated federal election laws by telling employees that electing Democrats would lead to passage of legislation making it easier to unionize companies, The Wall Street Journal said citing a letter.

Reuters - Chrysler LLC on Wednesday outlined plans to launch a new car-based SUV modeled after the Jeep Cherokee, as other major automakers took the spotlight at an industry conference to pitch their own hurried responses to the surging demand for more fuel-efficient cars.

Reuters - U.S. regulators' emergency rule to restrict "naked" short selling in 19 major financial stocks had little impact and may have even backfired, two studies of the rule's effects showed on Wednesday.

55 minutes ago NEW YORK (Reuters) - Former Federal Reserve Chairman Alan Greenspan predicts U. S. house prices will begin to stabilize in the first half of next year, the Wall Street Journal reported on Wednesday. Greenspan also offered a novel suggestion to bolster the housing market -- increase the number of potential home buyers by admitting more skilled immigrants.

By ANNE D'INNOCENZIO, AP Business Writer 6 minutes ago NEW YORK - Macy's Inc. posted a lower second-quarter profit Wednesday and warned that its full-year earnings will be below expectations. That, along with a pared-down outlook from a key supplier and a somber government report on retail sales in July, suggests a persistent slowdown for retailers as they face the critical back-to-school and holiday shopping seasons.

By Kristina Cooke 3 minutes ago NEW YORK (Reuters) - Stocks fell on Wednesday, as persistent concerns about the credit crisis hurt bank shares while a rebound in oil prices and weak outlooks at some retailers raised anxieties about consumer spending. Caterpillar, a bellwether for the U. S. economy, was among the top drags on the Dow industrials after fellow manufacturer Deere & Co (DE.

10 minutes ago NEW YORK (AFP) - The dollar was mostly higher against other major currencies Wednesday despite a report showing US retail sales fell in July as consumers tightened their belts. Traders said the dollar had gained some support amid lingering concerns about eurozone economic growth. The euro was quoted at 1.

AP - LOWER OUTLOOKS: Macy's Inc. posted a lower second-quarter profit and warned that its full-year earnings will be below expectations. Meanwhile, Liz Claiborne Inc., a key supplier to the department store chain, pared down its own profit forecast. The Commerce Department also announced that retail sales in July were the weakest since February.

By Poornima Gupta 15 minutes ago TRAVERSE CITY, Michigan (Reuters) - Chrysler LLC has talked with automakers in Russia and India about potential tie-ups and was approached by Fiat about a partnership, although no formal discussions are ongoing, a senior Chrysler executive said on Wednesday. Chrysler, the No.

by Justin Cole 16 minutes ago WASHINGTON (AFP) - US retail sales declined a negative 0. 1 percent in July in the face of slumping car and truck sales as Americans cut back on large purchases, a government report showed Wednesday. The Commerce Department's monthly snapshot showed that American consumers are continuing to feel the pinch from a lengthy housing slump, a widespread credit crunch and high oil prices.

By MARCY GORDON, AP Business Writer Tue Aug 12, 6:12 PM ET WASHINGTON - A government order expires Tuesday that temporarily banned a certain kind of short-selling of the stocks of mortgage finance companies Fannie Mae and Freddie Mac and 17 large investment banks. The companies' shares have stabilized since the ban took effect July 21.

45 minutes ago NEW YORK (Reuters) - Oil rose nearly $4 a barrel on Wednesday after a U. S. government report showed declines in fuel and crude inventories in the world's top consumer. U. S. crude traded up $3. 87 to $116. 88 a barrel by 1:35 p. m. EDT after demand concerns sent prices down to a three-month low of $112.

Reuters - U.S. and state regulators are close to reaching a settlement with multiple banks accused of selling auction-rate securities under false pretenses that would force them to repurchase billions of dollars of the now-illiquid securities at face value, people familiar with the matter said on Wednesday.

Tue Aug 12, 4:56 PM ET NEW YORK (AFP) - US stocks closed lower Tuesday as several major banks unveiled fresh losses reminding investors that an already lengthy credit crunch is still biting financial firms balance sheets. Traders said reports of losses at JPMorgan Chase and Swiss banking giant UBS had unsettled investors, even though world oil prices continued to tumble.

By Deepa Seetharaman 21 minutes ago NEW YORK (Reuters) - Stocks slid on Wednesday as financial shares sold off for a second straight day on fresh concerns about the widening impact of the mortgage crisis on the U. S. economy's outlook. A rebound in oil prices added to investor concerns, along with Deere & Co's (DE.

Reuters - H.J. Heinz Co's chief executive said on Wednesday that Campbell Soup Co would make a "nice fit" with the ketchup maker, although a Heinz spokesman declined to say whether such a combination had been seriously considered.

By Poornima Gupta 38 minutes ago TRAVERSE CITY, Michigan (Reuters) - Chrysler LLC is planning a new car-based SUV that will hit showrooms in 2010, and has identified over $1 billion in non-earning assets it will sell to raise cash. Chrysler plans to invest about $1. 8 billion over the next two years to retool and expand its Jefferson North assembly plant in Detroit that currently builds the Jeep Grand Cherokee, a truck-based SUV.

Reuters - Biotechnology company Genentech Inc rejected an offer by its majority shareholder, Roche Holding AG , to acquire the shares of Genentech it does not already own.

By Sarah Coffey 14 minutes ago NEW YORK (Reuters) - Macy's Inc (M. N) reported a 1. 4 percent decline in quarterly profit and cut its fiscal-year earnings forecast, warning that cutbacks in U. S. consumer spending could push sales down further at its stores. The department store operator said it expected a profit of $1.

16 minutes ago NEW YORK (Reuters) - Stocks fell on Wednesday, sending the Dow and the S&P 500 down more than 1 percent, as financial shares sold off on worries about the widening scope of mortgage losses, while disappointing earnings from Deere & Co (DE. N) heightened concerns about the economy's health.