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Yahoo! News: Business News
Business News
- Wall Street marks best month in a year in July
(Reuters)
 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)
Reuters - 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)
 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)
Reuters - 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)
Reuters - 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)
 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)
AP - 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)
 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)
 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)
U.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.
- IMF lowers Spain growth forecast, warns of 'fragile' rebound
(AFP)
 AFP - The IMF on Friday lowered its 2011 growth forecast for the Spanish economy to 0.6 percent from the 0.9 percent it foresaw in April and warned the recovery "is likely to be weak and fragile."
- 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.
- Glimcher offering raises $96M after costs
(AP)
AP - Real estate investment trust Glimcher Realty Trust said Friday a recently completed public offering of 16.1 million common shares generated about $96 million, after commissions, discounts and expenses.
- Wildlife rescue escalates at Mich. river oil spill
(AP)
 AP - Volunteers and government officials scrambled on Friday to save geese and other wildlife damaged by an oil spill in a southern Michigan river as the Canadian company that owns the ruptured pipeline said the crude had been contained.
- Kerry says he mishandled furor over yacht taxes
(AP)
 AP - Sen. John Kerry said he always intended to pay taxes in Massachusetts on his $7 million yacht but conceded he mishandled the public furor over his decision to dock the vessel in tax-free Rhode Island.
- Obama defends economy, takes wheel of electric car
(AFP)
 AFP - President Barack Obama took to the wheel of a new electric car Friday on a Detroit-area tour of the revitalized auto industry, touting his economic policies but urging the need to do more.
- 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.
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