SEC vs. the media, round two

The Securities and Exchange Commission was not seeking a blanket exemption from public information laws, when it asked Congress to include a little known provision in the Wall Street reform law, the agency said in a letter to lawmakers Friday.

Treasurys rise on weaker GDP

A weaker-than-expected government report on the economy sent investors flocking back into Treasurys Friday, pushing the prices up on U.S. debt and driving yields down.

Northwest to pay $38 million cargo price-fixing fine

Northwest Airlines will plead guilty and pay a $38 million fine for conspiring to fix cargo rates, the Justice Department announced Friday.

Face Off: Test-driving Gillette's new razor

General Motors' legendary CEO Alfred P. Sloan invented the annual styling change when he ordered a new body for the 1923 Chevrolet to cover up the car's nine-year-old technology. The new design made the old model feel out-of-date and was the first step in GM's drive to pass Ford Motor and its unchanging Model T to become the largest automobile company in the world.

China says it tops Japan as No. 2 economy

China has surpassed Japan to become the world's second largest economy, lagging only behind the United States, a Chinese government official said in remarks published on Friday.

GM to boost Chevy Volt production

General Motors announced Friday that the automaker has raised its planned production of the Chevrolet Volt electric car to 45,000 in 2012.

Bulls tiptoe into homebuilder stocks

It takes a lot of courage to be a bull on homebuilder stocks these days. They exist, for sure. And they aren't on mind-bending drugs. In fact, they see the world much as the housing stock bears do. You won't find any uplifting messages in their reports on the economy and housing.

Worst job on Earth: BP calling all applicants

It could quite possibly be called the worst job on Earth -- and the position is open.

Consumers not spending like drunken sailors

The economy is heading nowhere fast. That's the bad news. But the good news is that it still seems like consumers may have actually learned a lesson or two about reckless fiscal behavior.

Recovery spin wars: White House vs. business

The Obama administration gave a positive spin to second-quarter economic numbers released Friday, with the administration's chief economist saying they show a "steady recovery from the recession continues."

Let's fund every entrepreneur

There was a great conversation Thursday at Y Combinator's AngelConf in Silicon Valley. Anthony Ha of Venturebeat had a couple posts on it that I just read, one on Paul Graham's comments, and another on Ron Conway and Mike Arrington's comments. I would have enjoyed being part of that discussion, so I'll join in now.

Why a flounder gigger's suit against BP is one to watch

Although it's probably not BP's top priority at the moment, an ominous lawsuit was filed against it last month in state court in Mobile, Alabama, by a man named Obie F. Carlisle.

Pay gap persists for African-Americans

African-American workers continue to earn far less than whites, according to statistics released by the U.S. Census Bureau.

Stocks: Best monthly gain in a year

Despite a mixed performance on Friday, stocks booked the best monthly gain in a year, with the Dow Jones industrial average and S&P 500 both rising nearly 7% in July.

How Amway weathered the storm, one sale at a time

Don't be fooled into thinking that direct sales are a thing of the past just because you haven't seen a pink Mary Kay Cadillac in a while. Amway is not only still alive and well, it's actually growing, even as many retailers continue to struggle.

U.S. recovery sputters

The U.S. economy continued to grow during the second quarter, the government reported Friday. But the pace slowed more than economists were expecting, raising concern about growth - or even another recession - in the months ahead.

BP's Hayward: 'I became a villain for doing the right thing'

Outgoing BP chief executive Tony Hayward is defending his leadership of the company in the aftermath of the oil rig explosion that killed 11 workers and led to the worst offshore spill in U.S. history.

SEC charges billionaire brothers with fraud

Two billionaire brothers face federal fraud charges for selling stock in companies which they helped oversee and then trying to conceal some $550 million in gains.

Stocks headed for early selloff

U.S. stocks were headed toward an early selloff Friday, following a weaker-than-expected reading on second-quarter economic growth.

Why spend $300 a night for a hotel?

Book a hotel in a popular destination and you know what to expect: a bed, a mini-fridge, and a big bill at checkout. In Europe's big cities, for example, you can easily spend anywhere from $150 to $300 a night (hotels in Florence average $205).

Linear Avoids Big Deals

CEO Lothar Maier on why the company has never made a large acquisition.

Thoughts

On the business of life.

Weekly Market Wrap: 7/30/10

Economic growth slumps in the second quarter. Gold miners set record revenues and profits on all-time highs in the price of gold.

Where In The World Is Imam Feisal?

Questions multiply about $100 million Islamic center planned near Ground Zero.

Marvell Technology's Mobile Connector

Marvell's Weili Dai takes her place on our list of entrepreneurs, innovators and businesspeople who left home and made their mark in the U.S.

How Much of the Reality Show is Scripted?

Fiction is so last century. Reality TV now takes centre stage on our TV screens. Varun Duggirala, who produced Get Gorgeous 5, Launchpad 3 and Kidnap, tells us what really goes on behind the 'reality'.

Don't Be Fooled By Idea Of Bank Bailouts

FDIC Chairman Sheila Bair says future bank bailouts won't likely happen. The big banks will be allowed to fail.

Not Even China Can Tame The Business Cycle

Economist Kenneth Rogoff believes financial crises are endemic to human nature.

Niche Airlines Meet Demand For Inter-Island Travel In The Caribbean

These airlines are a cross between a scheduled airline and on demand charter operator with a nimble

Paper Dolls, Dandies And Oscar Wilde

Literature's greatest dandy actually hated fashion.

Alcatel-Lucent Lights Up After Earnings

Company reports big rise in revenue, profits.

On The Spot: Sobieski and Stolichnaya

Bill McCuddy reviews the ad campaigns featuring Bruce Willis and Hugh Hefner.

Paul Lee Takes Over at ABC

Days after ABC Entertainment President Steve McPherson resigned, Lee has been named his replacement.

The Liquidation Isn't Over

There are 2.1 million unsold U.S. houses. Excess inventory is the enemy of house prices, which may fall another 20%.

Weekly Market Wrap: 7/30/10

Economic growth slumps in the second quarter. Gold miners set record revenues and profits on all-time

Un-Freakonomics

A Harvard professor uses economics to save lives, assign doctors and get kids into the right high school.

SportsMoney 50-50

The world's most valuable teams and athletes.

Smart Grid Fund Among Friday's Best-Looking ETFs

In trading on Friday, the First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund ETF is outperforming other ETFs, up about 2%.

Sunoco Shines, But Dimmer Days Ahead

Analyst warns of challenging times ahead for industry after cost cuts drive strong quarter for refiner.

Scary Signals From The Fed

Fed comments in recent days have shifted from cheerleading to restraint. That's scary.

Berlusconi moves on rebels

Italy appeared to be heading for early elections or a government shake-up after Silvio Berlusconi moved to expel dissidents from his People of Liberty party, reducing his parliamentary majority to a thread

Move to block BP from US drilling

BP would be blocked from winning future drilling permits in the US because of its safety record under energy legislation passed by the House of Representatives

US growth slows in second quarter

US growth slowed to an annualised rate of 2.4 per cent in the second quarter but robust business demand suggested that the economy would avoid a feared “double dip” that could drag the world back into recession

Indian police open fire on Kashmir demonstrators

Indian paramilitary forces opened fire on angry anti-India protestors in several different parts of the troubled Muslim-majority state of Kashmir, killing at least three people

Leaks highlight Pakistan’s Afghan quest

US relief at Islamabad’s retention of its powerful army chief will be tempered by documents on WikiLeaks that allege the ISI backed Afghan militants while he was in charge

China closer to becoming second-largest economy

A senior Beijing official’s reference to China as the ‘world’s second-largest economy’ has sparked excited speculation that Asia’s new powerhouse may have already reached a long-looming milestone by surpassing Japan

Russia calls in army as fires escalate

Russia called in the army to combat fires sweeping across the drought-stricken European part of the country and forcing thousands of people to flee

US team to visit Iraq amid political impasse

Senior US officials are expected to visit Iraq in August amid mounting concern that Washington will complete a significant troop withdrawal from the fragile country with no new government in office

Nadir to return to UK as warrant is quashed

Asil Nadir, the tycoon and alleged fraudster, is due to return to Britain after almost 20 years, but will not face punishment for fleeing the country because his bail was never properly set, a court has ruled

Europe’s leaders choose holidays on home soil

Europe’s top politicians are united in seeking to send out a message of moderation this summer, as they stay close to home for the holidays

Tax credit overpayments 'to soar'

Many more people will face having to pay back some of the money paid to them as tax credits because of Budget changes, experts say.

Interns are 'entitled to be paid'

Many young people working free as interns may legally be entitled to pay, a report says.

Addresses set to lose county name

Counties appear set to be dropped from postal addresses in future years after complaints about out-of-date names.

US economic growth slows to 2.4%

US economic growth slowed between April and June, with GDP growing by an annualised rate of 2.4%, the US Commerce Department says.

Strikes and ash extend BA losses

BA reveals a steep quarterly loss of £164m after being hit by cabin crew strikes and disruption caused by the volcanic ash cloud.

Northwest agrees to pay $38m fine

Northwest Airlines will plead guilty and pay a $38m fine for fixing air-cargo prices, the US justice department says.

Immigrant worker limit criticised

Government plans to limit the number of skilled foreign workers allowed into the UK are criticised by the Lord Mayor of London.

Airbus firm EADS lifts output aim

Airbus parent firm EADS says it is confident about future orders, despite reporting a fall in second-quarter earnings.

Royal Mail pension plan in doubt

The Pensions Regulator is challenging a crucial plan to pay off the £10bn deficit in the Royal Mail pension scheme.

Fraud charges over £115m inquiry

A businessman investigated by City of London police is facing 30 charges of fraud

Deadline for tax credits renewal

Families face missing out on financial assistance if they miss Saturday's deadline to renew tax credits.

Disney sells Miramax film studios

Walt Disney announces the sale of its Miramax film division for about $660m to a group of private equity investors.

Sale of EDF's UK networks agreed

A consortium headed by Hong Kong billionaire Li Ka-Shing agrees to buy the UK networks of French power group EDF for £5.8bn ($9.1bn).

Benefits face 'radical' shake-up

Merging all tax credits and benefits into a single payment is one option being considered by Iain Duncan Smith in a "radical" welfare shake-up.

Fugitive Nadir will stand trial

Fugitive Polly Peck tycoon Asil Nadir, who fled to northern Cyprus in 1993, confirms he will come back to the UK to stand trail on theft charges.

US sees paper profit on bail-outs

Assets bought by the US to bail out AIG and Bear Stearns are showing a paper profit, the Federal Reserve Bank of New York says.

Chip sales boost Samsung profits

Samsung Electronics reports record quarterly profits thanks to higher sales of smartphones and components such as memory chips.

Industry toasts rise in beer sales, but pubs miss out

Good weather and football's World Cup is thought to have given a boost to beer sales in the UK, industry figures suggest.

Aldi's 'elusive' billionaire co-founder dies

The billionaire co-founder of budget supermarket Aldi, Theo Albrecht dies, aged 88.

Fixed retirement age to be axed

People reaching the age of 65 will no longer be forced to retire from October next year, under plans announced by the government.

House price inflation eases again

UK house prices fell 0.5% in July, the Nationwide says, cutting the annual rate of house price inflation to 6.6% from 8.7%.

Landmark ruling on divorce money

A "ground-breaking" Court of Appeal judgement removes the protection previously given to thousands of people in divorce proceedings.

California in 'fiscal emergency'

California governor Arnold Schwarzenegger declares a fiscal state of emergency, putting pressure on lawmakers to pass a budget.

Review warns of 60,000 job cuts

Up to 60,000 people working in the public sector in Scotland could lose their jobs, according to an independent review commissioned by ministers.

China allows IMF report release

China allows the publication of an International Monetary Fund staff report on its economy for the first time since 2006.

BP boss scaling back oil effort

The incoming BP chief executive has said it is time to scale back some parts of the oil spill clean-up in the Gulf of Mexico.

Gambling firms reveal merger plan

The UK's Partygaming and Austrian firm Bwin unveil plans to merge and create the world's largest online gaming business.

Citigroup agrees $75m fraud fine

Banking giant Citigroup agrees to pay $75m to settle civil charges that it misled investors over potential losses from subprime mortgages.

ITV wins Rugby World Cup rights

ITV successfully holds onto the UK TV rights for the next two Rugby World Cups, it is announced.

P&G in London 2012 Olympics deal

Consumer products giant Procter & Gamble becomes the 11th big firm to sign an Olympics sponsorship deal covering London 2012.

Extent of Barcelona debt revealed

A new audit into Barcelona's finances reveals the club's debt is 442m euros (£369.5m) after a loss of more than 77m euros (£64.36m) last season.

Iran trade sanctions hit Dubai port

In Dubai's port area, the renewed clampdown by the US on trade with Iran is hurting many legitimate, local businesses.

BP boss scaling back oil effort

Incoming BP chief executive Bob Dudley has said it is time to scale back some parts of the oil spill clean-up in the Gulf of Mexico.

Fuel protests: 'Three days from anarchy'

Tom Feilden investigates whether the lessons on food security from the fuel protests 10 years ago have been learned

Novel take on French home shortage

Young French people having difficulty finding affordable housing are being given the chance to help older members of society and put a roof over their own heads.

IDS: Welfare system 'close to breaking'

Work and Pensions Secretary Iain Duncan Smith says welfare reform will be "humanizing" rather than "finger wagging"

Iran sanctions: Turkey's dilemma

Turkey is facing a difficult decision after the EU approved an embargo on foreign trade with Iran this week.

US GDP figures show 2.4% growth

The US economy grew 2.4% during the second quarter, according to figures published by the US government.

Sale of EDF's UK networks agreed

A consortium headed by Hong Kong billionaire Li Ka-Shing has agreed a deal to buy the UK networks of French power group EDF for £5.8bn ($9.1bn).

Picking up Penguins for 75 years

A colourful history of the famous book publisher

Hit by sanctions

Black market boom as Dubai curbs trade with Iran

Pensions timebomb

Russians fear the benefits system will cease to exist

New face

Can the new Metro Bank really shake up High Street banking?

Your Money: Nervous About Social Security? Better Prepare Now

With Recovery Slowing, the Jobs Outlook Fades

Billionaire Brothers Long Suspected of Tax Evasion

Old Debts Never Die; They Are Sold to Collectors

Dogged by a Slowdown, Obama Lauds Car Revival

Senator Seeks Data on Complaints About Artificial Joints

Stem Cell Trial Wins Approval of F.D.A.

Wall Street Settles Down After Taking In G.D.P. Report

Investors Buy Disney?s Miramax for $660 Million

U.S. Plans Trade Complaint Against Guatemala

Nuclear Woes Hurt Bottom Line at EDF

Oil Spill Officials Talk of Shift From Emergency Work

ABC Names Paul Lee President of Entertainment Group

Chevron?s Profit Triples as Demand Grows

Wealth Matters: Partnerships May Aid Your Estate, but the I.R.S. Is Watching

Patient Money: For Most, Implants Beat Dentures, but at a Price

Off the Charts: The Growing Resilience of Plastic

A Tangled Web for the Wyly Brothers

Shortcuts: The Benefits of Volunteerism, if the Service Is Real

European Bank Stress Tests Worked: Sort Of

Lessons from End of the Charles River Deal