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Tuesday, July 28, 2009 12:00 AM PDT

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Today's Business News: Verizon 2Q profit falls, tops view, plans job cuts Oil hovers near $68 as 3-week rally stalls To ease price swings, US may limit energy trading Bond analyst skeptical of California's new budget Final frontier: Crowd sees spaceship launcher fly Financials boost TSX for third straight session NY Fed names Nomura as U.S. primary dealer Amgen 2Q profit rises 40 percent on lower costs Euro rises on buoyant German consumer confidence U.S. housing chiefs to push lenders for aid EBay to highlight top sellers to galvanize retail Asia stock rally pauses ahead of more earnings BP ups cost cut target as profits dive Fed to update its consumer finance survey AP IMPACT: Dodd, Conrad told deals were sweetened What Works in Financial Education How to Excel at Your Job and Be Home for Dinner Verizon 2Q profit falls, tops view, plans job cuts Mon, 27 Jul 2009 01:55 pm PDT AP - Cost-cutting at Verizon Communications Inc.'s wireline business failed to keep pace with falling revenues as the nation's largest wireless carrier reported a 21 percent drop in second-quarter profit and announced further job cuts. Full Story Top Oil hovers near $68 as 3-week rally stalls Mon, 27 Jul 2009 09:27 pm PDT AP - Oil prices hovered near $68 a barrel Tuesday in Asia as a three-week rally stalled amid mixed economic and corporate news. Full Story Top To ease price swings, US may limit energy trading Mon, 27 Jul 2009 09:10 pm PDT AP - Federal regulators are hearing from from consumers, businesses, traders and financial firms as they consider imposing limits on speculative trading of energy futures contracts — a move that would mark a major shift for the government. Full Story Top Bond analyst skeptical of California's new budget Mon, 27 Jul 2009 06:02 pm PDT AP - A bond analyst was skeptical Monday about California's revised budget, saying it was filled with accounting tricks that would do little to improve the state's poor credit rating. Full Story Top Final frontier: Crowd sees spaceship launcher fly Mon, 27 Jul 2009 04:30 pm PDT AP - Hundreds of earthlings turned their faces to the sky Monday to see an airplane built to launch a ship into space, watching the gleaming white craft soar overhead. Full Story Top Financials boost TSX for third straight session Mon, 27 Jul 2009 01:10 pm PDT Reuters - Toronto's main stock index moved higher for a third straight session on Monday, helped by economic recovery hopes that lifted the financial group. Full Story Top NY Fed names Nomura as U.S. primary dealer Mon, 27 Jul 2009 02:58 pm PDT Reuters - The New York Federal Reserve on Monday named Japan's Nomura Securities International as a U.S. primary dealer of Treasury securities, effective immediately. Full Story Top Amgen 2Q profit rises 40 percent on lower costs Mon, 27 Jul 2009 03:15 pm PDT AP - Biotechnology company Amgen Inc. said Monday second-quarter profit jumped 40 percent on a tax benefit and lower costs following a restructuring program, despite a continued decline in anemia drug sales. Full Story Top Euro rises on buoyant German consumer confidence Mon, 27 Jul 2009 10:20 am PDT AFP - The European single currency rose against the dollar on Monday on news of a jump in US home sales and buoyant consumer confidence in Germany, the biggest economy in the eurozone, dealers said. Full Story Top U.S. housing chiefs to push lenders for aid Mon, 27 Jul 2009 10:32 pm PDT Reuters - Senior U.S. housing officials and leading mortgage companies on Tuesday will make a fresh commitment to help troubled borrowers keep their homes and will promise to expand foreclosure-prevention aid, sources familiar with the plans said. Full Story Top EBay to highlight top sellers to galvanize retail Mon, 27 Jul 2009 10:25 am PDT Reuters - EBay Inc will slash fees by 20 percent for its top-rated sellers and push their listings higher up in the search queue, part of steps to try to rev up its long-stagnant Marketplaces arm. Full Story Top Asia stock rally pauses ahead of more earnings Mon, 27 Jul 2009 08:38 pm PDT Reuters - Asian stocks were steady on Tuesday, as investors took a breather after lifting shares some 16 percent in the last two weeks, though the profit-taking urge was contained by a jump in U.S. new home sales and hopes for solid corporate results in the region. Full Story Top BP ups cost cut target as profits dive Mon, 27 Jul 2009 11:48 pm PDT Reuters - Oil giant BP Plc (BP.L) said it had increased its cost reduction targets for 2009 by 50 percent to $3 billion, as it reported a halving in second quarter profits due to lower oil prices and weaker refining margins. Full Story Top Fed to update its consumer finance survey Mon, 27 Jul 2009 01:50 pm PDT AP - The Federal Reserve is reaching out to Americans to get a more detailed picture of how the country's economic debacles have affected household finances. Full Story Top AP IMPACT: Dodd, Conrad told deals were sweetened Mon, 27 Jul 2009 06:52 pm PDT AP - Despite their denials, influential Democratic Sens. Kent Conrad and Chris Dodd were told from the start they were getting VIP mortgage discounts from one of the nation's largest lenders, the official who handled their loans has told Congress in secret testimony. Full Story Top What Works in Financial Education Mon, 27 Jul 2009 05:08 am PDT BusinessWeek Online - Annamaria Lusardi, a professor of economics at Dartmouth College and editor of Overcoming the Saving Slump: How to Increase the Effectiveness of Financial Education and Saving Programs, is one of the country's top researchers on financial education. In conferences and speeches, Lusardi argues that financial literacy today is as important as learning to read and write. After all, we have to make our own financial decisions now, whether we like it or not. BusinessWeek's Amy Feldman spoke with Lusardi about what works, what doesn't, and how to get people to do the right thing. Full Story Top How to Excel at Your Job and Be Home for Dinner Mon, 27 Jul 2009 05:08 am PDT BusinessWeek Online - When I was a new manager at Goldman Sachs, an executive coach told me: "If you can't get your job done in 10 hours a day, there's something wrong with you -- or there's something wrong with your job." I laughed. In my 16 years in finance, I found it hard not admire the 24/7 ethic and even harder to imagine that top results could be produced without it. Full Story Top

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