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U.S. offshore oil fire may delay lift of drill ban (Reuters)

Thu, 09/02/2010 - 19:54
Reuters - The Obama Administration is likely to stay focused on toughening regulatory oversight of the U.S. offshore oil industry and may push back lifting a ban on deepwater drilling after the latest accident in the Gulf of Mexico, analysts said on Thursday.
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More Dems buck plan to let taxes increase for rich (AP)

Thu, 09/02/2010 - 19:37

AP - Congress seems increasingly reluctant to let taxes go up, even on wealthier Americans.


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Take-Two posts profit, raises outlook (Reuters)

Thu, 09/02/2010 - 19:11
Reuters - Video game maker Take-Two Interactive Inc on Thursday smashed Wall Street expectations for its fiscal third quarter and raised its forecast for the current fourth quarter, citing strong sales for its "Red Dead Redemption" title.
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Analyst: GM plans to sell shares on Nov. 18 (AP)

Thu, 09/02/2010 - 18:59

AP - General Motors plans to start trading shares again on Nov. 18, timing that allows the company one more quarter of earnings to build its case to investors, a firm that researches initial public offerings said Thursday.


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Oil platform explodes off La. coast; crew rescued (AP)

Thu, 09/02/2010 - 18:39

AP - An oil platform exploded and burned off the Louisiana coast Thursday, the second such disaster in the Gulf of Mexico in less than five months. This time, the Coast Guard said there was no leak, and no one was killed.


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ArcSight posts higher fiscal 1Q profit (AP)

Thu, 09/02/2010 - 18:24
AP - ArcSight Inc. said Thursday its fiscal first-quarter profit tripled as the cybersecurity software and services company's sales jumped 39 percent.
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GM's new boss woos autoworkers in first staff memo (Reuters)

Thu, 09/02/2010 - 18:15

Reuters - General Motors' new boss Dan Akerson sent his first letter to staff on Thursday, saying he valued the role of organized labor in the company's success as GM heads into negotiations with its union-represented U.S. workers next year.


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Business Highlights (AP)

Thu, 09/02/2010 - 17:57
AP - Discounts spur surprising Aug. retail sales gains
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Pier 1 Imports shares rise on 2Q sales growth (AP)

Thu, 09/02/2010 - 17:55
AP - Pier 1 Imports Inc. said Thursday its second-quarter sales rose 8 percent year-over-year as more customers shopped in its stores and the retailer enticed more browsers to buy its furniture and home accessories.
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Temporary cap that stopped oil gusher removed (AP)

Thu, 09/02/2010 - 17:55

AP - Engineers removed a temporary cap Thursday that stopped oil from gushing into the Gulf of Mexico from BP's blown-out well in mid-July. No more oil was expected to leak into the sea, but crews were standing by with collection vessels just in case.


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Ex-GM CEO Fritz Henderson to head Sunoco spin-off (AP)

Thu, 09/02/2010 - 17:46
AP - Sunoco Inc. has tapped former General Motors CEO Fritz Henderson to lead the energy spin-off it is forming early next year.
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Bernanke takes blame for muddled message on Lehman (Reuters)

Thu, 09/02/2010 - 17:40

Reuters - U.S. Federal Reserve Chairman Ben Bernanke said he was partly to blame for leaving the wrong impression that the central bank could have saved Lehman Brothers from failure in 2008.


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Con man could get life under Calif. 3-strikes law (AP)

Thu, 09/02/2010 - 17:26
AP - A man accused of bilking elderly South Los Angeles residents out of their homes in a foreclosure scam is facing a potential life sentence in a rare use of California's three-strikes law for a white-collar crime.
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Stocks rise on economic hopes ahead of payrolls (Reuters)

Thu, 09/02/2010 - 16:45

Reuters - Stocks rose on low volume on Thursday as data showed improvement in housing and the job market a day ahead of the critical monthly payrolls figures.


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Burger King agrees to $3.3 billion sale to 3G Capital (Reuters)

Thu, 09/02/2010 - 16:42

Reuters - Burger King Holdings Inc agreed to sell itself to investment firm 3G Capital for $3.26 billion, giving the No. 2 U.S. fast-food chain breathing room to fix its business and close the gap with leader McDonald's Corp.


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H&R Block 1Q loss narrows despite revenue decline (AP)

Thu, 09/02/2010 - 16:37
AP - H&R Block Inc. on Thursday said its fiscal first-quarter loss narrowed by 2 percent as it reduced staffing and other expenses.
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Lehman preps bank units for sale or shutdown (Reuters)

Thu, 09/02/2010 - 16:34

Reuters - Lehman Brothers Holdings Inc , the bankrupt U.S. investment bank, needs at least $550 million to keep its two bank units going as it prepares to sell them or shut them down in 18 months, court documents show.


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Economic data damp down fears of new recession (Reuters)

Thu, 09/02/2010 - 16:32

Reuters - Pending sales of previously owned U.S. homes rebounded unexpectedly in July and new claims for jobless benefits fell last week, helping quell fears the economy could face a double-dip recession.


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EU reaches deal on cross-border financial supervisors (AFP)

Thu, 09/02/2010 - 15:17

AFP - Europe took a big step closer on Thursday to its goal of creating cross-border financial supervisors, reaching a "crucial milestone" in efforts to reform a sector blamed for the global recession.


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Apple and Google to clash in music space by Christmas (Reuters)

Thu, 09/02/2010 - 15:16
Reuters - Google Inc is in talks with music labels on plans for a download store and a digital song locker that would allow its mobile users to play songs wherever they are as it steps up its rivalry with Apple Inc, according to people familiar with the matter.
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