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Bernanke Says More Steps Needed to Ensure Market Stability
U.S. financial markets need to be made more resilient and stable, Federal Reserve Chairman Ben Bernanke said Tuesday, possibly by giving the central bank much broader authority to collect information and exercise authority over the nation’s financial firms.
Stock Futures Mirror Global Selloff Fueled by Financial-Sector Concern
U.S. stock markets looked set to extend losses Tuesday, mirroring overseas declines amid a resurgence in credit-market jitters and nervousness about second-quarter earnings season.
Mortgage Giants Take Beating On Fears Over Loan Defaults
Investors dumped shares and bonds of Fannie Mae (NYSE:FNM) and Freddie Mac, (NYSE:FRE) signaling a dramatic loss of confidence in two government-sponsored mortgage companies considered crucial to restoring the health of the housing market.
Pricey Drugs Put Squeeze on Doctors
SAN FRANCISCO — Long a burden for patients, hyperexpensive cancer drugs are causing economic havoc for another constituency in U.S. health care: doctors.
Airlines Cut Long Flights To Save Fuel Costs
As the airline industry grapples with record fuel prices, long intercontinental flights are taking a big hit.
Studio Chooses Intel for Chip Pact
DreamWorks Animation SKG Inc. (NYSE:DWA) has chosen Intel Corp. (NASDAQ:INTC) to supply chips and other technology for its big computer-animation operations, a shift that will
cost Advanced Micro Devices Inc. (NySE:AMD)one of its most prestigious customers.
Icahn Gains Microsoft as Ally To Oust Yahoo Board
Microsoft Corp. (NASDAQ:MSFT)inched closer to investor Carl Icahn Monday by saying it would be interested in restarting talks to acquire some or all of Yahoo Inc. (NASDAQ:YHOO) if the Internet company’s board were replaced — a move Mr. Icahn has been advocating since May.
Oil Falls as Economic Slowdown Concern Sparks Commodity Selling
July 8 (Bloomberg) — Crude oil declined to its lowest in more than a week as concern that the global economy may slow further prompted investors to sell commodities.
Peugeot Says Sales to Fall, Fiat Idles Plants on Oil-Price Woes
July 8 (Bloomberg) — PSA Peugeot Citroen SA, (EPA:UG) France’s biggest carmaker, said west European sales will fall 4 percent this year and Fiat SpA (OTC:FIATY) plans to idle Italian plants as record oil prices and accelerating inflation hurt consumer spending.
Repsol Holds Talks With Rosneft to Buy Sakhalin Stake
July 8 (Bloomberg) — Repsol YPF SA, (NYSE:RE) Spain’s largest oil company, is holding talks with OAO Rosneft (MCX:ROSN) to buy 24 percent of the Veninsky block on Russia’s Sakhalin Island as it cuts reliance on South America for supplies.
SanDisk Preps Secret-Weapon Chip
SAN FRANCISCO — It’s been two-and-a-half years since SanDisk (NASDAQ:SNDK) made a $250 million bet on a novel and unproven memory technology.
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