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Monday, June 15, 2009 12:01 AM PDT

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Today's Business News: AP IMPACT: Weak security enables credit card hacks Oil falls below $72 as US dollar strengthens Without signs of economic growth, stocks to drift Ailing factory towns face tougher road to recovery National Summit arrives amid economic trouble London stocks down at the open US says no recovery, 'too early' to cut stimulus Toll Brothers posts narrower loss for Q2 British businesses say no economic growth until 2010 NJ mortgage company president guilty in $139M scam Opel rescue opens Pandora box for German state aid Nation's mayors meet in RI amid economic recession Nigerian rebels say hit another Chevron facility Sen. Dodd urges consumer finance protection agency Mortgage Rates Head for 6 percent: 5 Reasons They Might Retreat Home Depot's Higher but Fragile Hopes The Fed's Mortgage Muddle AP IMPACT: Weak security enables credit card hacks Sun, 14 Jun 2009 08:41 pm PDT AP - Every time you swipe your credit card and wait for the transaction to be approved, sensitive data including your name and account number are ferried from store to bank through computer networks, each step a potential opening for hackers. Full Story Top Oil falls below $72 as US dollar strengthens Sun, 14 Jun 2009 09:47 pm PDT AP - Oil prices fell below $72 a barrel Monday in Asia as a three-month rally lost steam amid a strengthening dollar. Full Story Top Without signs of economic growth, stocks to drift Sun, 14 Jun 2009 06:06 pm PDT AP - The summer slowdown is setting in on Wall Street. Full Story Top Ailing factory towns face tougher road to recovery Sun, 14 Jun 2009 11:01 am PDT AP - Tim Holt was among the men and women who wove fabric and prosperity here for generations, until the textile factories left town in a global manufacturing shift that the rest of the country hardly seemed to notice. Full Story Top National Summit arrives amid economic trouble Sun, 14 Jun 2009 08:56 am PDT AP - The country's economic troubles already were brewing when organizers announced in September that business and other leaders would gather here to craft a plan for keeping the U.S. competitive in manufacturing, energy, technology and environmental efforts. Full Story Top London stocks down at the open Fri, 12 Jun 2009 01:24 am PDT AFP - The London stock market opened down slightly on Friday after closing up the day before. Full Story Top US says no recovery, 'too early' to cut stimulus Sat, 13 Jun 2009 09:09 am PDT AFP - Top global economies should not look to cut their economic stimulus plans to fight the crisis as there is no recovery yet, US Treasury Secretary Timothy Geithner said on Saturday. Full Story Top Toll Brothers posts narrower loss for Q2 Wed, 3 Jun 2009 11:50 am PDT AP - Toll Brothers Inc. said Wednesday it trimmed its losses in the second fiscal quarter and is seeing a pickup in the number of homebuyers who are ready to put down deposits. Full Story Top British businesses say no economic growth until 2010 Sun, 14 Jun 2009 04:07 pm PDT AFP - The British economy is stabilising but growth will not return until the beginning of 2010, and then it will still be slow, the country's leading business lobby group said Monday. Full Story Top NJ mortgage company president guilty in $139M scam Thu, 11 Jun 2009 05:07 pm PDT AP - The former president of a New Jersey mortgage company has pleaded guilty in a $139 million fraud scheme that bankrupted his firm. Full Story Top Opel rescue opens Pandora box for German state aid Sat, 13 Jun 2009 09:28 pm PDT AFP - Germany, having orchestrated a rescue for automaker Opel, is trying to keep the lid on a Pandora's box of state aid, even if it means turning away luxury sports carmaker Porsche and retailer Arcandor. Full Story Top Nation's mayors meet in RI amid economic recession Fri, 12 Jun 2009 03:38 pm PDT AP - The country's economic crisis dominated the agenda at Friday's opening of the national mayors' conference, with big-city leaders telling of their struggles with mounting foreclosures, double-digit unemployment rates and falling tax revenues. Full Story Top Nigerian rebels say hit another Chevron facility Sun, 14 Jun 2009 10:00 pm PDT Reuters - Nigeria's main militant group said on Monday it had sabotaged an oil pumping station in the Niger Delta operated by Chevron, the fifth attack claimed against the U.S. energy company in less than a month. Full Story Top Sen. Dodd urges consumer finance protection agency Thu, 11 Jun 2009 10:35 am PDT Reuters - U.S. Senate Banking Committee Chairman Christopher Dodd on Thursday called for creation of an independent consumer protection agency as part of wider reforms to the U.S. financial regulatory structure. Full Story Top Mortgage Rates Head for 6 percent: 5 Reasons They Might Retreat Fri, 12 Jun 2009 06:59 am PDT U.S. News & World Report - Only a couple of months ago, exceptionally low mortgage rates were one of the few optimistic landmarks in an otherwise bleak economic outlook. After the Federal Reserve unveiled a series of initiatives beginning last fall--such as purchasing Fannie Mae and Freddie Mac mortgage-backed securities and long-term treasury bonds--mortgage rates plunged to all-time lows. In early April, with 30-year fixed mortgage rates dropping to less than 5 percent, President Barack Obama beseeched homeowners everywhere to capitalize on the development by refinancing their mortgages. ... Full Story Top Home Depot's Higher but Fragile Hopes Fri, 12 Jun 2009 05:08 am PDT BusinessWeek Online - Home Depot (hd.) offered some encouragement to bullish investors on June 10 when the retailer raised its earnings estimates for the year. The home improvement giant also unveiled a variety of ways executives are trying to improve and cut costs in areas ranging from its supply chain to information technology and employee training. Full Story Top The Fed's Mortgage Muddle Wed, 10 Jun 2009 05:08 am PDT BusinessWeek Online - Talk about a negative feedback loop: It looks like investors' expectations for an economic recovery could end up delaying that very scenario. Fear of inflation and concerns over the long-term impact of ballooning government debt have been driving up yields on 10-year U.S. Treasury notes, which reached 3.91% on June 8 before easing back to 3.84% the next day. Full Story Top

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