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Yahoo! News: Business News
Wall Street trims losses after consumer data (Reuters) Reuters - Stocks regained some ground on Friday after consumer sentiment data fell in July to its lowest level in 9 months, though the reading showed a slight improvement from the beginning of the month.
Imports slow second-quarter growth (Reuters) Reuters - Economic growth slowed in the second quarter as a capital investment drive by businesses sucked in imports at the fastest pace since the first quarter of 1984.
Chevron earnings triple (Reuters) Reuters - Chevron Corp, the second-largest U.S. oil company, reported a three-fold jump in quarterly profit, beating expectations as refinery margins fattened.
Consumer sentiment sags to lowest since November (Reuters) Reuters - Consumer sentiment plunged in July to its lowest level in 9 months on bleak prospects for jobs and income a year since the economic recovery began, a private survey released on Friday showed.
Merck profit beats Wall Street view (Reuters) Reuters - Merck & Co reported higher-than-expected second-quarter earnings on Friday, helped by strong sales of its treatments for diabetes, arthritis and HIV.
Cisco briefly halted after circuit breaker (Reuters) Reuters - Trading in Cisco Systems Inc shares was briefly halted on Thursday after triggering a circuit breaker.
More Japan workers lose jobs, factory output falls (AP) AP - Japan received a sobering reminder Friday of its fragile recovery: The jobless rate rose, deflation deepened, and factories made fewer cars and mobile phones.
Summary Box: Arch reverses 2Q loss, ups outlook (AP) AP - THE COMPANY: St. Louis-based Arch Coal Inc., one of the world's biggest coal producers, fuels about 8 percent of all U.S. electrical generation.
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.
Arch Coal 2Q profit surges on global sales (AP) AP - Arch Coal Inc. said Friday it reversed losses from a year ago during the second quarter, handily beating Wall Street's expectations on the strength of global markets and a nearly 40 percent jump in sales.
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.
La. foundation will administer oil workers fund (AP) AP - BP says it has picked a charitable foundation in Louisiana to administer a $100 million fund for oil workers struggling because of a federal moratorium on deepwater drilling.
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.
Honda, Renault face waning demand after good quarter (Reuters) Reuters - Honda Motor Co and Renault joined their rivals in reporting strong results for the quarter to the end of June, as the auto industry faces growing concerns over slowing demand in the United States, China and Europe.
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.

Yahoo! News: Personal Finance News
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.
MetLife posts Q2 earnings of $1.5 billion, beating Street (Reuters) Reuters - MetLife Inc , the biggest U.S. life insurance company, posted a second-quarter profit of $1.53 billion, helped by higher premium revenue from sales domestically and abroad.
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.
PMI Group narrows loss, but shares tumble (AP) AP - PMI Group Inc. on Thursday reported a nearly $151 million loss, narrower than a year ago but far wider than Wall Street expected. Shares of the mortgage insurer tumbled nearly 15 percent.
Congress to try to recoup Fannie, Freddie costs (AP) AP - Lawmakers plan to study ways to get back some of the $145 billion the government has pumped into giant mortgage buyers Fannie Mae and Freddie Mac.
Summary Box: Mortgage rates hit low of 4.54 pct. (AP) AP - RATES KEEP FALLING: Mortgage company Freddie Mac said the average rate for 30-year fixed loans this week was 4.54 percent, down from 4.56 last week.
Mortgage rates hit low of 4.54 percent (AP) AP - Mortgage rates are the most affordable in decades for those who can qualify for a loan.
Citigroup settles charges over misleading investors (AFP) AFP - US bank Citigroup agreed Thursday to pay a 75-million-dollar fine to settle charges it misled investors about exposure to subprime mortgage-related assets, the Securities and Exchange Commission said.
(AP) AP - Mortgage rates drop to 4.54 pct., hitting lowest level on record for fifth time in six weeks.
Mortgage lenders must register in database (AP) AP - Loan officers at banks will be required to provide their names and fingerprints to a national database as part of an effort to crack down on shady operators who fed the real estate bubble.
Treasury says latest mortgage-aid report flawed (AP) AP - The Obama administration is revising the latest report on its troubled mortgage-relief program, and the changes are likely to show a greater number of borrowers facing foreclosure after having their loans modified.
Goldman and Citigroup to sell $788.5 million CMBS (Reuters) Reuters - Goldman Sachs Group Inc and Citigroup Inc will sell a $788.5 million commercial mortgage-backed security, according to a term sheet sent to investors, in the largest deal of its kind since volume began crawling back after the financial crisis.
Summary Box: Mortgage applications down percent (AP) AP - MORTGAGE APPLICATIONS DOWN: Applications for home loans fell 4.4 percent last week despite the lowest mortgage rates in decades, according to the Mortgage Bankers Association.
Buy, Sell, or Hold Research In Motion? (The Motley Fool) The Motley Fool - Right now, you can't go through a list of news articles for Research In Motion (Nasdaq: RIMM - News) without seeing gloomy headlines such as "Why RIM is a Risky Investment" (TheStreet.com) and "BlackBerry's Era May Be Ending" (The New York Times). Fears of market share declines because of Apple's (Nasdaq: AAPL - News) iPhone and Google's (Nasdaq: GOOG - News) Android platform clearly have investors on edge -- and an underwhelming earnings report last quarter didn't do much to calm their nerves.
5 Essential Components of a Retirement Plan (U.S. News & World Report) U.S. News & World Report - When most people plan for retirement they think about saving and investing so they have a large nest egg to draw upon once they stop working. Investing is certainly important, but it is not the whole story. A secure retirement demands more than just a well-funded investment account. Here are five essential components of any retirement plan.
Mortgage applications fall 4.4 percent last week (AP) AP - Applications for home loans fell last week despite the lowest mortgage rates in decades.
Mortgage demand dips on rising rates (Reuters) Reuters - U.S. home loan demand cooled last week as rising mortgage rates curbed refinancing requests that had soared to a 14-month high, the Mortgage Bankers Association said on Wednesday.
Why You Should Invest in European Stocks (U.S. News & World Report) U.S. News & World Report - Much has been made of the fiscal difficulties that some European Union countries, most notably Greece, are experiencing. Less has been said about what opportunities may exist for investors interested in the countries in the EU. Dean Tenerelli, manager of the T. Rowe Price European Stock fund, says that there are many cheap opportunities in Europe. As a whole, he believes Europe is inviting for investors who are willing to look past some of the macroeconomic problems there. U.S. News caught up with Tenerelli to get his outlook for the region. Excerpts:
How to Hedge for Uncertain Times (The Motley Fool) The Motley Fool - Fed Chairman Ben Bernanke recently described the economic outlook as "unusually uncertain," and that's likely an apt description of what many investors are feeling.
Summary Box: Conference on Fannie, Freddie (AP) AP - CONFERENCE SCHEDULED: The Obama administration will hold a conference Aug. 17 to discuss the future of government-sponsored mortgage buyers Fannie Mae and Freddie Mac, which almost collapsed nearly two years ago.

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