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News of the 07/22/2008

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GM Exec appears before Senate
Slash In Interest Rates Expected
England and Sweden make big rate cuts
    

Apple outlook well below Wall Street view

  
SAN FRANCISCO (Reuters) - Apple Inc said on Monday its current-quarter earnings would be well below Wall Street targets, sending shares of the iPhone, iPod and Macintosh maker down 10 percent.
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Supermarket Cut-Price Petrol Race

  
A supermarket petrol price war has been started after Asda announced it was cutting the cost of unleaded and diesel by 3p a litre.
    From Sky News | Add a commentary | Report abuse
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America Movil shares fall

  
Shares of heavyweight America Movil fell Tuesday, dragging down the Mexican stock market, as billionaire Carlos Slim's company failed to meet high profit expectations in the second quarter.
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Builder To Shed Hundreds Of Jobs

  
The beleaguered house building sector has suffered a fresh blow after another company announced job losses.
    From Sky News | Add a commentary | Report abuse
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Lenovo, Asia exporters face pressure

  
July 22 - Asian electronics giants like PC-maker Lenovo face investor concern about earnings amid global slowdown.
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School Slams 'Jordan Lookalikes'

  
The future is not orange for young ladies at a high-achieving school. It is cracking down on "Jordan lookalikes" who turn up for class with cheap fake tans.
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Yahoo profit falls, CFO says 2008 outlook intact

  
SAN FRANCISCO (Reuters) - Yahoo Inc on Tuesday posted a nearly 19 percent fall in net profit, and net revenue short of lowered Wall Street expectations, as it faced a weakening economy and the distraction of Microsoft Corp's pursuit.
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Dolly upgraded to hurricane

  
Jul 22 - Dolly was upgraded to a hurricane from a tropical storm but oil prices still fell due to small risk of disruption to Gulf operations.
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Dreaming Up An Economic Nightmare

  
Business bodies want to put a stake through the heart of the view that the UK economy resembles a "horror movie".
    From Sky News | Add a commentary | Report abuse
 

'Take cash and leave' says lender

  
A former sub-prime mortgage lender offers an 8% discount to borrowers if they redeem their home loans.
    From BBC News | Add a commentary | Report abuse
 

Big pitch to uneasy school shoppers

  
Anxious merchants are trying to get ahead of the sputtering economy by rolling out penny bargains and promoting price cuts to lure reluctant back-to-school shoppers.
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Blackwater brand shift: Security to take back seat

  
Blackwater Worldwide, the company that unwittingly became a catchall brand name for security contractors in Iraq, wants to shift its business away from the sector that earned it hundreds of millions of dollars.
    From Boston Globe | Add a commentary | Report abuse
 

For coach, a numbers game

  
Look at the numbers. They are the best indicator of whether Danny McGrath will succeed. It's a roll of the dice, a lottery pick, this business of predicting whether a bright-eyed young man can handle a job for which the archetype is a hardened old-timer.
    From The Washington Times | Add a commentary | Report abuse
 

New Lotus Causes Supercar Fever

  
Over half a million Brits are expected to make the trip to the country's biggest car show - many of whom will be gagging to find out the motoring industry's biggest kept secret.
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BoE Boss Clashes With MPs

  
The governor of the Bank of England has strongly hinted that politicians were responsible for leaking information that led to the run on Northern Rock last summer.
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Sky Unveils Music Download Service

  
Sky is entering the music download market after announcing a new subscription service.
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Consumer worries rise

  
Jul. 22 - Disappointing results or outlooks from key consumer-related companies like American Express and Apple revived worries of a consumer-led recession.
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Zimbabwe prints $100 billion note

  
Jul 22 - Zimbabwe grappling with a record high inflation introduces a new $100 billion dollar bank note in a bid to tackle cash shortages.
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Huge oil trading loss sinks energy trader SemGroup

  
NEW YORK (Reuters) - A massive $3.2 billion trading loss on oil futures and derivatives sank high flying energy trader SemGroup LP, which at one time billed itself as the 14th-largest private company in the United States.
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