World News Center
Wall Street marks best month in a year in July (Reuters)
July 31, 2010
Reuters - U.S. stocks closed little changed on Friday, but Wall Street wrapped up its best month in a year after the earnings season rounded the final turn with a group of strong results that offset the impact of poor economic data.
Jobs data, earnings latest test for stocks (Reuters)
July 31, 2010Reuters - U.S. stocks are unlikely to break above a key technical level next week unless monthly jobs data and consumer company results paint a more promising picture of the recovery.
Cuomo widens insurer probe with 6 more subpoenas (Reuters)
July 31, 2010
Reuters - New York Attorney General Andrew Cuomo has subpoenaed six more insurers as the state widens a probe into whether life insurance companies have defrauded families of deceased members of the military.
Imports slow Q2 growth as business spending surges (Reuters)
July 31, 2010Reuters - U.S. economic growth slowed in the second quarter as companies invested heavily in equipment from abroad and the pace of consumer spending eased, raising concerns about the recovery in the rest of 2010.
Goldman employees still enamored with firm and CEO (Reuters)
July 31, 2010Reuters - Goldman Sachs Group Inc is the bank many Americans love to hate, but one group just plain loves it: its employees.
Citigroup paying $75M to settle civil charges (AP)
July 31, 2010
AP - Banking titan Citigroup Inc. is paying $75 million to settle civil charges that it misled investors about its potential losses from subprime mortgages as the housing bust hit in 2007.
Dollar sinks to 8-month low vs yen as growth slows (AP)
July 31, 2010AP - Weakening U.S. economic growth and worried comments from Federal Reserve officials drove the dollar to an 8-month low Friday against the Japanese yen.
Merck's 2Q net drops on higher costs, charges (AP)
July 31, 2010
AP - Drugmaker Merck & Co. on Friday reported a 52 percent drop in second-quarter net income, weighed down by big restructuring charges from buying Schering-Plough Corp., generic competition and other factors.
Greece turns to military to restore fuel supplies (AP)
July 31, 2010
AP - Greece said Friday it will use military trucks, navy vessels and commandeered fuel tankers to restore gasoline supplies cut by a strike that has hurt the country's industry and vital tourism trade at the height of vacation season.
Reverse Mortgages Aren't Catching On (U.S. News & World Report)
July 31, 2010U.S. News & World Report - The reverse mortgage industry, hammered for high fees and high pressure sales tactics, has steadily improved its procedures and its image. Loan fees and interest rates have been lowered, consumer disclosure has improved, and the federal government's insured reverse mortgage program has provided stability and credibility to the industry. A-list lenders have expanded their presence in the market; Wells Fargo and Bank America are the nation's top two reverse mortgage lenders.
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