Reuters - Citigroup Inc will pay U.S. regulators $75 million to settle charges that it failed to disclose $40 billion in subprime exposure to investors in 2007, the Wall Street Journal reported on Thursday, citing people familiar with the matter. Read Original Post Here
AP - Motorola Inc. on Thursday reported a sharply higher profit for the second quarter and stabilized its long revenue decline as its strategy of focusing on smart phones like the Droid bore fruit.
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Reuters - New claims for unemployment benefits slipped last week, but stayed at a stubbornly high level that underscored the labor market recovery was having trouble gaining traction.
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AFP - China allowed an IMF report critical of its currency policy to be released Thursday for the first time in four years, signaling Beijing’s increasing confidence that it can control the international debate on the yuan.
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AFP - Volkswagen, Europe’s biggest automaker, benefited from strong sales and favourable exchange rates as it posted Thursday a second quarter profit more than four times the previous year’s figure.
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AP - An energy company received federal approval Thursday to open one of Utah’s biggest natural gas fields by agreeing to use new technology to drill under wild areas, instead of on top of them. Read Original Post Here
Reuters - Exxon Mobil and Royal Dutch Shell Plc (RDSa.L) reported strong growth in production on Thursday after years of largely falling output, helping to send second-quarter profits soaring.
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AP - Challenging civil rights organizations and teachers’ unions that have criticized his education policies, President Barack Obama said Thursday that minority students have the most to gain from overhauling the nation’s schools.
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Reuters - Slashed outlooks from Nvidia Corp and Symantec Corp knocked chipmakers lower on Thursday, raising questions about demand for technology components and igniting a broad selloff.
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Reuters - Toyota Motor Corp said on Thursday it would recall nearly 417,000 high-end passenger cars and SUVs in the United States and Canada to fix steering problems.
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