Business : Top Stories
Reuters - U.S. stocks sagged in volatile trading on Thursday after weak outlooks from technology companies and downbeat comments from a Federal Reserve official gave investors little reason to buy.
Reuters - Citigroup Inc will pay $75 million to settle charges that it failed to disclose subprime exposure to investors in 2007, the U.S. Securities and Exchange Commission said on Thursday.
Reuters - Two lawsuits have been filed over a gob of toothpaste.
SEC charges Wyly brothers in $550 million fraud (Reuters)Reuters - The Securities and Exchange Commission charged the brothers Samuel Wyly and Charles Wyly with fraud for reaping more than $550 million of illicit gains by trading stock in four companies on whose boards they sat as directors.
MetLife posts Q2 earnings of $1.5 billion (Reuters)Reuters - MetLife Inc , the biggest U.S. life insurance company, posted a second-quarter profit of $1.53 billion, helped by investment gains.
RIM shares up on reports of new BlackBerry (AFP)
AFP - Shares in Canada's Research in Motion surged Wednesday on reports the BlackBerry maker plans to release a new smartphone next week to rival Apple's iPhone.
AP - Tire inventories dwindled during the recession with money so tight. J.P. Morgan analyst Himanshu Patel asked Goodyear executives on Thursday to discuss the commercial truck inventory situation. Goodyear's president and CEO, Richard J. Kramer, said rebuilding inventories would provide a sales opportunity.
RealNetworks' 2Q loss narrows (AP)AP - RealNetworks Inc. said Thursday that its second-quarter loss narrowed even though its revenue fell because last year's second quarter included a large charge reflecting the declining value of its assets.
Italy seeks private sponsors to restore Colosseum (AP)AP - Italian officials are seeking to raise some euro25 million (about $32 million) in private money to finance the restoration of one of the country's iconic landmarks: the Colosseum.
Florida mortgage firm settles federal charges (AP)AP - Federal regulators say a Florida company they accused of misleading borrowers who were seeking to avoid foreclosure has agreed to repay the consumers $2.4 million to settle those charges.
