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Wednesday, July 29, 2009 12:01 AM PDT

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Today's Business News: AP source: Microsoft, Yahoo near Web search deal Oil falls below $67 on US consumer confidence drop Asian markets retreat amid bubble worries Delphi heads to court to ask for bid's approval Gov't considers limits on energy trading The Dow Jones industrials' moves since Lehman fall Congress acts to shore up depleted programs Correction: Equinix earnings story Economic downturn stems dangerous boat migration Subprime mortgage companies warn on U.S. foreclosures Talbot's names Pfeiffer chairman of board Feds push mortgage companies to modify more loans Oil falls below $67 on economic woes; U.S. crude stocks up Apax Partners begins tender offer for Bankrate Home Sales Beat Expectations: What's Next? 5 Things to Know New Home Sales Jump 11% Health Care in Crisis: Needless Costs, Needless Deaths AP source: Microsoft, Yahoo near Web search deal Tue, 28 Jul 2009 09:04 pm PDT AP - Microsoft Corp. appears to have finally persuaded Yahoo Inc. that together they would have a better chance of mounting a meaningful challenge to Google Inc.'s dominance of online advertising. Full Story Top Oil falls below $67 on US consumer confidence drop Tue, 28 Jul 2009 11:18 pm PDT AP - Oil prices fell below $67 a barrel Wednesday in Asia as a drop in U.S. consumer confidence and rising crude inventories painted a weak demand outlook. Full Story Top Asian markets retreat amid bubble worries Tue, 28 Jul 2009 09:28 pm PDT AP - Asian stocks dropped Wednesday as worries the recent rally in markets was giving rise to a bubble weighed on investors. Full Story Top Delphi heads to court to ask for bid's approval Tue, 28 Jul 2009 09:07 pm PDT AP - Delphi Corp. heads to bankruptcy court Wednesday seeking a judge's approval of a deal that could hand control of the auto supplier to its lenders and end its four-year stay in Chapter 11. Full Story Top Gov't considers limits on energy trading Tue, 28 Jul 2009 09:06 pm PDT AP - Marking a potential shift for the government, federal regulators may be moving toward setting limits on speculative energy trading, blamed by some for widening the oil price swings that have punished industries and consumers. Full Story Top The Dow Jones industrials' moves since Lehman fall Tue, 28 Jul 2009 01:29 pm PDT AP - How far the Dow Jones industrial average has fallen or advanced each trading day since Lehman Brothers Holdings Inc. filed for Chapter 11 bankruptcy protection on Sept. 15. Since Lehman's fall, which touched off a paralysis of the credit markets and deepened the recession, the stock market has gone through an extended period of volatility before kicking into a big rally starting this spring. The numbers are the closing levels for the Dow: Full Story Top Congress acts to shore up depleted programs Tue, 28 Jul 2009 02:03 pm PDT AP - The House, doing some billion-dollar housekeeping before it leaves for the August recess, is taking up legislation to keep recession-hit federal programs that support highway projects, state unemployment insurance and mortgage loans from running dry. Full Story Top Correction: Equinix earnings story Tue, 28 Jul 2009 06:14 pm PDT AP - In a July 22 story about Equinix Inc.'s second-quarter earnings, The Associated Press erroneously reported that the data center operator's revenue of $213.2 million fell short of analysts' expectations for $220 million. In fact analysts polled by Thomson Reuters had expected revenue of $208.8 million, and Equinix surpassed it. The story also said analysts expected a profit of 30 cents per share. The correct estimate was 33 cents per share. Full Story Top Economic downturn stems dangerous boat migration Tue, 28 Jul 2009 10:10 pm PDT AP - The boats used to arrive on Spain's Canary Islands almost daily, rickety vessels crammed with Africans hoping for a better life in Europe, and willing to risk a perilous journey at sea to get here. Full Story Top Subprime mortgage companies warn on U.S. foreclosures Tue, 28 Jul 2009 06:58 pm PDT Reuters - Companies that service risky residential mortgages are warning U.S. officials that a key program to slow foreclosures may push some financing costs higher and derail their efforts, said a leading subprime firm. Full Story Top Talbot's names Pfeiffer chairman of board Tue, 28 Jul 2009 03:20 pm PDT AP - Retailer Talbots Inc. said Tuesday that Gary Pfeiffer has been named chairman of the company's board. Full Story Top Feds push mortgage companies to modify more loans Tue, 28 Jul 2009 02:24 pm PDT AP - The Obama administration, scrambling to get its main housing initiative on track, extracted a pledge from 25 mortgage company executives to improve their efforts to assist borrowers in danger of foreclosure. Full Story Top Oil falls below $67 on economic woes; U.S. crude stocks up Tue, 28 Jul 2009 09:46 pm PDT Reuters - Oil slid below $67 a barrel on Wednesday, extending losses from the more than $1 retreat the day before, on renewed concerns over the U.S. economy after a drop in consumer confidence and bearish API crude data. Full Story Top Apax Partners begins tender offer for Bankrate Tue, 28 Jul 2009 02:59 pm PDT AP - Private equity firm Apax Partners launched a cash tender offer at $28.50 a share Tuesday to acquire all outstanding shares of consumer finance Web site operator Bankrate Inc. Full Story Top Home Sales Beat Expectations: What's Next? 5 Things to Know Tue, 28 Jul 2009 01:04 pm PDT U.S. News & World Report - Three years into the worst housing slump since the Great Depression, a new report is offering more evidence that the residential real estate market is on the mend. New-home sales in June jumped 11 percent from the previous month, marking the sharpest such increase since December of 2000, the Commerce Department said Monday. Although the monthly increase is within the margin of error--and sales remain 21 percent below June 2008 levels--Monday's data help pull the three-month moving average of new-home sales up from its January lows, says Patrick Newport, an economist at IHS Global Insight. ... Full Story Top New Home Sales Jump 11% Tue, 28 Jul 2009 05:08 am PDT BusinessWeek Online - Anyone just hear a thud? That might be the sound of the housing slump bottoming out. Full Story Top Health Care in Crisis: Needless Costs, Needless Deaths Tue, 28 Jul 2009 05:08 am PDT BusinessWeek Online - Sandra Bogan and Southwest Airlines (NYSE:LUV - News) have enjoyed a long business association. On the airline's first day of operation in 1971 she served passengers as a flight attendant -- and still does: Bogan holds the distinction of being Southwest Flight Attendant No. 1. She was divorced with three children to raise when she met and married soul mate Tom Bogan, a soft drink executive, in the late 1970s. Although Sandra continues to fly, Tom retired to enjoy an active life with their children and grandchildren. ... Full Story Top

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