AP - Yearly inflation in euro nations hit a record 4 percent in June, the EU statistics agency Eurostat said Monday, adding pressure on the European Central Bank to raise borrowing costs even as the economy slows.
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AP - Stocks were narrowly mixed early Monday as investors contended with another spike in oil prices and awaited a regional manufacturing reading for hints about economy.
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Reuters - Longer-term U.S. Treasury bond yields
have bottomed and will steadily rise because of inflation
pressures as the U.S. economy clambers out of the current
downturn, the manager of the world’s biggest bond fund wrote on
Monday.
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Reuters - U.S. truck and engine maker Navistar
International Corp said on Monday the U.S. pickup
truck market was in a “stranglehold,” squeezed by both economic
weakness and high diesel fuel prices.
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Reuters - Stocks rose on Monday as oil prices
slipped and the broad market’s descent to March lows drew
bargain hunters, helping financial shares to pare losses.
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Reuters - Yahoo Inc on Monday sought to
rally shareholder support for its board of directors and
management amid a proxy battle with billionaire Carl Icahn,
saying the investor had outlined an “ill-defined plan” for the
future of the Internet company.
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Reuters - Business activity in the U.S. Midwest
contracted in June for a fifth straight month but at a less
severe rate, even as production and new orders both slipped, a
report showed on Monday.
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AP - The government says farmers will harvest nearly 7 percent fewer acres of corn than last year in part because Midwest flooding has damaged the crop.
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Reuters - Tax preparer H&R Block Inc
said on Monday it swung to quarterly profit from a loss,
beating estimates, as the weak dollar helped drive revenue 11
percent higher.
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Reuters - Many NASCAR fans think nothing of
jumping in their recreational vehicles or pickup trucks and
driving 300 miles or more to watch races in places like
Talladega, Alabama Bristol, Tennessee; and Las Vegas.
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AFP - Europe’s main markets showed mixed fortunes on Monday in more volatile trading as oil prices struck new record highs and the euro remained strong.
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Reuters - Stock futures on Monday pointed to a
lower open on Wall Street as oil climbed to a new high,
threatening to push the Dow average again into bear market
territory.
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Reuters - H&R Block Inc , the largest
U.S. tax preparer, said on Monday it swung to a quarterly
profit from a loss as the weak dollar helped drive revenue 11
percent higher.
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Reuters - The chief executive of Bank of New York
Mellon Corp said on Monday he expected further losses
from the banking sector and added that the U.S. housing market
crisis could continue for some time.
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AP - Stocks headed for a moderately lower open Monday as oil prices set a new trading record and investors awaited a regional manufacturing reading for hints about where the market might be headed after last week’s steep sell-off.
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AP - The global economy could face a deeper downturn than many currently expect amid rising inflation and the turmoil on financial markets, the Bank for International Settlements said at its annual meeting Monday.
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AP - H&R Block Inc., the nation’s largest tax preparer, said Monday it swung to a fourth-quarter profit, helped by a record-setting tax season and the sale of its troubled mortgage arm.
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Reuters - Oil rose more than $3 a barrel on Monday
to a new record high above $143, propelled by heightened
tensions between Israel and Iran over Tehran’s nuclear program.
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AP - Yearly inflation in euro nations hit a record 4 percent in June, the EU statistics agency Eurostat said Monday.
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AP - Stocks headed for a mixed open Monday as oil prices set a new trading record and investors awaited a regional manufacturing reading for hints about where the market might be headed after last week’s steep sell-off.
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Reuters - The world needs higher interest rates to
tackle a clear inflation threat, even though economic growth is
likely to be hit harder than most observers expect, the Bank
for International Settlements said on Monday.
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AP - Tax preparer H&R Block Inc. says it swung to a fourth-quarter profit, helped by a record-setting tax season and the sale of its troubled mortgage arm.
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AP - Four-dollar-a-gallon gasoline has stolen a beach vacation in South Carolina from Julie Jacobs′ family and exotic bath washes from Angela Crawford. Phil English had to sell his beloved but fuel-guzzling red pickup.
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Reuters - Oil rose more than $2 a barrel on Monday
towards a new record high of $143, propelled by heightened
tensions between Israel and Iran over Tehran’s nuclear program.
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Reuters - France Telecom
withdrew its $40 billion offer for Nordic telecoms group
TeliaSonera on Monday, saying the parties could not
reach an agreement on the terms of a deal.
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Reuters - (Corrects first paragraph to read “the parties could not
agree on the terms of a deal” and not “it could not reach an
agreement on the financing of the deal”)
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Reuters - Many NASCAR fans think nothing of
jumping in their recreational vehicles or pickup trucks and
driving 300 miles or more to watch races in places like
Talladega, Alabama; Bristol, Tennessee; and Las Vegas.
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Reuters - Treasury Secretary Henry Paulson said on
Monday he believes in a strong U.S. dollar and that U.S
officials were working to resolve the country’s economic
problems, including regulatory mistakes that led to excesses in
the mortgage and banking sectors.
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Reuters - Oil rose over $1 to near $142 a barrel on
Monday, bolstered by a weak U.S. dollar and continuing tensions
between Israel and Iran over Tehran’s nuclear program.
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Reuters - Digital music seller Rhapsody is
launching a $50 million marketing assault on Apple’s iTunes,
offering songs online and via partners including Yahoo Inc and
Verizon Wireless, Rhapsody said on Monday.
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