Debt and data suggest more losses
NEW YORK (Reuters) – Stocks are likely to face more selling pressure next week as the Tuesday deadline draws near for raising the U.S. debt ceiling and Washington remains paralyzed by political brinkmanship.
July 31, 2011
Video: Alabama’s sand crab
This “Sunday Morning” moment of nature takes you to Alabama’s Fort Morgan peninsula home to the sand crab.
July 30, 2011
Wall Street Week Ahead: Debt and data suggest more losses
NEW YORK (Reuters) – Stocks are likely to face more selling pressure next week as the Tuesday deadline draws near for raising the U.S. debt ceiling and Washington remains paralyzed by political brinkmanship.
Wall Street ends worst week in year on debt stalemate
NEW YORK (Reuters) – Stocks ended the worst week in a year as time runs out on Washington to reach agreement before the government loses its ability to borrow money.
Growth anemic, debt row poses recession risk
WASHINGTON (Reuters) – The economy stumbled badly in the first half of 2011 and came dangerously close to contracting in the January-March period, raising the risk of a recession if a standoff over the nation’s debt does not end quickly.
Merck to slash jobs in cost-savings drive
NEW YORK (Reuters) – Merck & Co Inc plans to cut another 12,000 to 13,000 jobs by late 2015 to wring out additional annual cost savings of up to $1.5 billion that can be plowed back into research and deal making.
Billionaire Ross bets on v-shaped Irish recovery
DUBLIN (Reuters) – Positive news from Ireland is prompting a growing number of investors to look at the troubled euro zone economy, said billionaire Wilbur Ross, who this week invested 300 million euros in its largest lender.
Debt crisis strains banks, threatens consumers
NEW YORK (Reuters) – The crisis over raising the debt ceiling may have been manufactured by politicians, as many on Wall Street charge, but its effect on consumers and the broader economy is likely to prove very real.
Ford hopes to avoid strike in labor talks
DEARBORN, Michigan (Reuters) – Ford Motor Co’s labor chief said the U.S. automaker hopes to avoid a strike in its talks for a new labor deal with the United Auto Workers union, which officially began on Friday.
Court upholds patenting of genes in Myriad case
CHICAGO (Reuters) – A federal appeals court affirmed the right of Myriad Genetics to patent two genes linked to breast cancer, overturning a lower court ruling that threatened a key element of the biotech business.