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Yahoo! News: Business News
Earnings boost stocks as euro rises (Reuters) $\"Traders$ Reuters - World stocks rose for the fifth day running on Wednesday as solid corporate earnings combined with easing fears about financial stability to boost investors appetite for riskier assets.
Consumer confidence dims as home prices climb (Reuters) $\"Construction$ Reuters - Job worries drove July U.S. consumer confidence to its lowest since February, with one in six people expecting lower income in the next six months, underscoring the precarious state of economic recovery.
NYSE busts trades after botched Bancorp share swap (Reuters) Reuters - A botched share swap last month in which 10 times more US Bancorp shares were issued than planned, angering and confusing investors, led the NYSE on Tuesday to cancel three days of trades in the stock.
Global steelmakers paint gloomy picture (Reuters) Reuters - Steelmakers painted a gloomy picture of the short-term prospects for the industry on Tuesday as global prices have fallen and industrial demand is not recovering from the recession as quickly as expected.
Lockheed, L-3 top estimates but outlooks diverge (Reuters) Reuters - Defense contractors Lockheed Martin Corp and L-3 Communications Holdings Inc beat Wall Street profit estimates on better revenue and margins but offered differing full-year outlooks.
Why You Should Invest in European Stocks (U.S. News & World Report) U.S. News & World Report - Much has been made of the fiscal difficulties that some European Union countries, most notably Greece, are experiencing. Less has been said about what opportunities may exist for investors interested in the countries in the EU. Dean Tenerelli, manager of the T. Rowe Price European Stock fund, says that there are many cheap opportunities in Europe. As a whole, he believes Europe is inviting for investors who are willing to look past some of the macroeconomic problems there. U.S. News caught up with Tenerelli to get his outlook for the region. Excerpts:
Lift \'reckless\' oil drilling ban, Gulf residents plead (AFP) $\"US$ AFP - President Barack Obama\'s \"reckless\" moratorium on deepwater drilling in the Gulf of Mexico is suffocating small businesses and destroying livelihoods, lawmakers and residents said Tuesday.
Peugeot Citroen returns to profit in first half (AP) AP - PSA Peugeot Citroen SA on Wednesday reported a return to profit in the first half of 2010, beating market expectations and boosting its outlook, thanks to strong demand for new cars in China and a raft of new models.
FTSE shares rise on US homes data (AFP) $\"Leading$ AFP - Leading shares in London continued their rise on Tuesday, inching higher on US data which showed US home prices rose in May.
How to Hedge for Uncertain Times (The Motley Fool) The Motley Fool - Fed Chairman Ben Bernanke recently described the economic outlook as \"unusually uncertain,\" and that\'s likely an apt description of what many investors are feeling.
IMF: China currency undervalued but policy sound (AP) AP - The International Monetary Fund said China\'s yuan is undervalued in a mildly worded assessment Wednesday of its controversial currency controls and praised Beijing\'s response to the global crisis.
Office Depot narrows 2Q loss, but revenue falls (AP) AP - Office Depot Inc. narrowed its loss in the second quarter on tax benefits and cost cutting but the office supply retailer\'s sales continued to fall.
What\'s next for housing finance, Fannie and Freddie? (McClatchy Newspapers) McClatchy Newspapers - WASHINGTON — With the overhaul of financial regulation in the bag, the Obama administration Tuesday said it\'ll focus next on housing finance — another key cause of the recent deep economic downturn — with an eye to deciding the fate of mortgage finance titans Fannie Mae and Freddie Mac.
Oil hovers above $77 after surprise US supply jump (AP) $\"Eric$ AP - Oil prices hovered above $77 a barrel Wednesday in Asia after a report showed U.S. crude supplies unexpectedly rose last week, suggesting demand remains weak.
Sen. Kerry to pay Mass. tax on yacht docked in RI (AP) $\"\'Isabel,\'$ AP - Sen. John Kerry moved to end a controversy over his decision to base his new $7 million yacht in tax-free Rhode Island, informing the Massachusetts Department of Revenue on Tuesday that he would \"promptly\" pay taxes as if the vessel were docked in his home state.
Hitachi promises stable parts supply to Nissan (AFP) $\"Japanese$ AFP - Japanese electronics maker Hitachi said Wednesday it would normalise supply of parts to Nissan Motor from next week, after a supply shortage forced the carmaker to temporarily close plants.
B-Schools All A-Twitter Over Social Media (BusinessWeek) BusinessWeek - Harvard Business School (Harvard Full-Time MBA Profile) and Columbia University\'s Graduate School of Business (Columbia Full-Time MBA Profile) have joined a growing list of business schools that are adding courses on social media to their MBA curricula, addressing the corporate demand for social-network-savvy employees. The two schools are among at least six that have added courses in the past year that allow students to learn about Internet marketing and social media strategy, according to course syllabi and faculty associated with the classes.
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