• Dow Chemical second-quarter profit hurt by costs (Reuters)

    Dow Chemical's corporate headquarters in Midland, Michigan is seen in an undated handout photo. (Handout/Reuters)Reuters - Dow Chemical Co posted second-quarter earnings that fell short of market expectations as its price increases did not completely offset a sharp spike in energy and raw material costs.




  • Nokia patent deal with Qualcomm boosts both stocks (Reuters)

    The U.S. flag flies next to one of Qualcomm's many buildings in San Diego, California, July 22, 2008. (Mike Blake/Reuters)Reuters - Nokia (NOK1V.HE), the world's top cellphone maker, has ended three years of legal battles with wireless chip developer Qualcomm and signed a patent agreement that boosted both companies' shares.




  • Wall Street extends drops after housing data (Reuters)

    The sun lights the exterior of the New York Stock Exchange, as people walk past on the shadowed street, July 16, 2008. (Chip East/Reuters)Reuters - Stock extended losses on Thursday following a report that showed a steeper-than-expected drop in existing-home sales in June, heightening concern about the impact of the housing slump on economic growth.




  • FCC has pact to approve Sirius-XM deal: source (Reuters)

    A woman walks past the waiting area of the XM Satellite Radio building in Washington, March 25, 2008. (Larry Downing/Reuters)Reuters - A majority of members of the Federal Communications Commission have reached an agreement to conditionally approve Sirius Satellite Radio Inc's purchase of XM Satellite Radio Holdings Inc , a source familiar with the agency review said on Thursday.




  • New layoff filings jump as companies retrench (AP)

    In this June 5, 2008 file photo, job seekers gather at the Los Angeles Mission for the 7th annual Employment and Training Collaborative of Hope Central Career Fair in Los Angeles. Employers cut payrolls by 62,000 in June, the sixth straight month of nationwide job losses, underscoring the economy's fragile state. The unemployment rate held steady at 5.5 percent, it was announced Thursday July 3, 2008. (AP Photo/Ric Francis)AP - The number of newly laid off people filing claims for unemployment benefits bolted past 400,000 last week as companies trimmed their work forces to cope with a slowing economy.




  • Economy - Wednesday (Investor's Business Daily)
    Investor's Business Daily - The Mortgage Bankers Assoc.'s mortgage applications index fell 6.2% in the week ended July 18 to 489.6 as 30-year mortgage rates rose 0.37 point 15 6.59%, the highest in a year. The purchase index fell 6.7% to 335.6 and the refi index fell 5.6% to 1392.7. Financial turmoil has caused interest rates to rise while soaring home-loan defaults have forced banks to curb credit, deepening the housing slump.

  • Retail sales slump as Britain gripped by economic slowdown (AFP)

    Shoppers walk past sale signs on Oxford St in London, 2007. Retail sales have sunk in June to record the largest monthly drop for 22 years, official data showed, as consumers slashed spending amid an economic slowdown across the country.(AFP/File/Carl De Souza)AFP - Retail sales sank in June to record the largest monthly drop for 22 years, official data showed on Thursday, as consumers slashed spending amid an economic slowdown across the country.