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Friday, July 31, 2009 12:00 AM PDT

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Today's Business News: GDP report is likely to show recession eased in 2Q Asian stocks rise as earnings boost recovery hopes AP IMPACT: Bad bridges passed up for stimulus cash Oil extends rally to above $67 as stocks jump Disney 3Q profit falls 26 pct, cites tough economy Oil bounces above $64 Bankrate 2Q profit cut in half Sony posts loss but says profit in sight MAN SE's 2Q net profit slims to euro27 million China's central bank reassures on monetary policy Moody's lifts rating outlook on Advance Auto Parts Why the Banks Aren't Modifying Home Loans Million dollar reward offered in Canada gas line bombings Senate probes Goldman, Deutsche: report Economy - Thursday Weyerhaeuser's Financial Education Minimum Wage Is Set to Rise GDP report is likely to show recession eased in 2Q Thu, 30 Jul 2009 10:14 pm PDT AP - The recession likely eased in the spring, with the U.S. economy no longer in free-fall. Full Story Top Asian stocks rise as earnings boost recovery hopes Thu, 30 Jul 2009 09:41 pm PDT AP - Asian stock markets rose Friday as better-than-expected earnings at companies from Japan to the U.S. reinforced hopes of stronger global growth. Full Story Top AP IMPACT: Bad bridges passed up for stimulus cash Thu, 30 Jul 2009 10:29 pm PDT AP - Tens of thousands of unsafe or decaying bridges carrying 100 million drivers a day must wait for repairs because states are spending stimulus money on spans that are already in good shape or on easier projects like repaving roads, an Associated Press analysis shows. Full Story Top Oil extends rally to above $67 as stocks jump Thu, 30 Jul 2009 10:07 pm PDT AP - Oil prices jumped above $67 a barrel Friday in Asia, extending a big rally from the previous day as surging stock markets fueled investor optimism. Full Story Top Disney 3Q profit falls 26 pct, cites tough economy Thu, 30 Jul 2009 04:46 pm PDT AP - The Walt Disney Co. said Thursday its fiscal third-quarter profit fell 26 percent as slower DVD sales pushed its movie studio into the red while the weakening market for TV ads stabilized. Full Story Top Oil bounces above $64 Thu, 30 Jul 2009 04:51 am PDT Reuters - Oil rose above $64 a barrel on Thursday, boosted by stock markets in Europe and Asia, better than expected corporate results and data suggesting the economic downturn was bottoming out. Full Story Top Bankrate 2Q profit cut in half Thu, 30 Jul 2009 02:51 pm PDT AP - Bankrate Inc. on Thursday reported its second-quarter profit was cut in half as the recession eroded advertising revenue at the consumer finance Web site operator. Full Story Top Sony posts loss but says profit in sight Thu, 30 Jul 2009 06:58 pm PDT Reuters - Sony Corp (6758.T) posted a smaller-than-expected quarterly loss, helped by an improvement in its struggling flat TV business, and said it was aiming to beat its official forecast and at least break even for the full year. Full Story Top MAN SE's 2Q net profit slims to euro27 million Thu, 30 Jul 2009 11:57 am PDT AP - Truck maker MAN SE reported Thursday a 94 percent drop in second-quarter net profit, as sales fell while orders remained flat, and said it does not see the economic situation improving any time soon. Full Story Top China's central bank reassures on monetary policy Thu, 30 Jul 2009 04:38 am PDT Reuters - China's central bank pledged to maintain loose monetary policy to support the economy and said it would ensure sustainable credit growth without resorting to heavy-handed quotas to rein in a lending spree. Full Story Top Moody's lifts rating outlook on Advance Auto Parts Thu, 30 Jul 2009 01:09 pm PDT AP - Moody's Investors Service said Thursday it raised its rating outlook on auto parts retailer Advance Auto Parts Inc. to positive from stable and affirmed its debt and liquidity ratings for the company. Full Story Top Why the Banks Aren't Modifying Home Loans Thu, 30 Jul 2009 06:10 pm PDT Time.com - In February, the Obama Administration said it would pay mortgage-servicing companies to modify existing home loans to make them more affordable -- an attempt to keep struggling borrowers in their houses and slow the escalating pace of foreclosures Full Story Top Million dollar reward offered in Canada gas line bombings Thu, 30 Jul 2009 03:56 pm PDT AFP - The EnCana group, the largest gas producer in North America, Thursday doubled to one million Canadian dollars (923,600 US dollars) a reward for information leading to the arrest of unidentified assailants who bombed a gas pipeline. Full Story Top Senate probes Goldman, Deutsche: report Wed, 29 Jul 2009 10:37 pm PDT Reuters - Goldman Sachs Group Inc (GS.N) and Deutsche Bank AG (DBKGn.DE) were issued subpoenas by a U.S. Senate panel looking for evidence of fraud in the 2008 mortgage-market meltdown, the Wall Street Journal said, citing people familiar with the matter. Full Story Top Economy - Thursday Thu, 30 Jul 2009 03:58 pm PDT Investor's Business Daily - The 30-year fixed rate rose 5 ticks this week to 5.25% as Treasury yields increased amid signs that the economy is improving, Freddie Mac said. Rates are well above early April's record low 4.78%, set shortly after the Fed unveiled plans to buy Treasuries and more mortgage debt. Rising rates aren't good news for the housing market, which has shown signs of stabilizing. Full Story Top Weyerhaeuser's Financial Education Thu, 30 Jul 2009 05:08 am PDT BusinessWeek Online - More than a century ago, Weyerhaeuser (NYSE:WY - News) began operations in America's Northwest as a logging company. Like many other frontier businesses, the job was hazardous. When a logger got hurt, the company took care of his family. (Most loggers were men.) Full Story Top Minimum Wage Is Set to Rise Thu, 30 Jul 2009 05:08 am PDT BusinessWeek Online - Minimum-wage workers will see a bump in their pay come July 24, when the federal minimum rises by 11%, to $7.25 an hour from $6.55. It will put an extra $120 per month in the pockets of the more than 2 million janitors, cafeteria workers, and child-care providers, among others, who rely on incomes of less than $15,000 annually. Full Story Top

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