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Friday, August 27, 2010 12:00 AM PDT

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Today's Business News: Dow ends below 10,000 on economic worries U.S. growth seen revised down on imports and inventories HP trumps Dell again as 3PAR bidding war escalates Bernanke may nod to weaker outlook, omit details India BlackBerry solution needs to pass through trials: source FTSE recovers after losses Summary Box: Copper prices up on jobless report OmniVision shares fall on 1Q revenue miss Summary Box: German consumer confidence rises Citi-backed personal finance site adds tools India says U.S. visa issue may be solved outside WTO Best Buy to use Ford vans for Geek Squad After Housing Bubble, the Dark Side of Homeowner Dreams Oil falls to near $73 as stock markets retreat Swiss halfway done giving UBS account info to US Japan automakers report solid production for July Tax Reform: These Small Steps Could Help Deficit, Economy Dow ends below 10,000 on economic worries Thu, 26 Aug 2010 02:18 pm PDT Reuters - The Dow closed below 10,000 on Thursday a day ahead of an expected downward revision in U.S. second-quarter economic growth and a major speech by Federal Reserve Chairman Ben Bernanke. Full Story Top U.S. growth seen revised down on imports and inventories Thu, 26 Aug 2010 09:03 pm PDT Reuters - U.S. economic growth likely was much weaker than initially thought between April and June, hurt by surging imports and as rebuilding of business inventories softened, a government report is expected to show on Friday. Full Story Top HP trumps Dell again as 3PAR bidding war escalates Thu, 26 Aug 2010 03:58 pm PDT Reuters - Hewlett-Packard Co raised its bid for data storage company 3PAR Inc to $1.8 billion, dealing a blow to Dell Inc's $1.6 billion effort to win a rapidly escalating bidding war. Full Story Top Bernanke may nod to weaker outlook, omit details Thu, 26 Aug 2010 09:05 pm PDT Reuters - Federal Reserve Chairman Ben Bernanke will have to address a number of pressing issues in a speech on Friday as investors search for more clarity on how close the U.S. central bank might be to another asset-buying spree to support the flagging recovery. Full Story Top India BlackBerry solution needs to pass through trials: source Thu, 26 Aug 2010 11:12 pm PDT Reuters - Any solution provided by Research in Motion, makers of BlackBerry smartphones, must pass through field trials to satisfy India's security concerns, a senior government source said on Friday. Full Story Top FTSE recovers after losses Thu, 26 Aug 2010 01:21 am PDT AFP - London stocks rebounded at the start of trading on Thursday following recent losses and after equities had risen in Asia and on Wall Street overnight. Full Story Top Summary Box: Copper prices up on jobless report Thu, 26 Aug 2010 12:59 pm PDT AP - BIT OF A BRIGHT SPOT: Copper prices rose nearly 3 percent after the government said jobless claims fell for the first time in a month. It was a bright spot after weak housing sales proved discouraging for the industrial metal. Full Story Top OmniVision shares fall on 1Q revenue miss Thu, 26 Aug 2010 03:59 pm PDT AP - OmniVision Technologies Inc., which makes chips for digital cameras and Web cameras, on Thursday reported first-quarter net income of $16.9 million, or 30 cents per share, reversing a loss a year earlier. Full Story Top Summary Box: German consumer confidence rises Thu, 26 Aug 2010 07:14 am PDT AP - GOOD MOOD: German consumers are upbeat about their economy, according to a closely watched survey, reflecting the country's overall positive economic trend even as uncertainty lingers over long-term prospects. Full Story Top Citi-backed personal finance site adds tools Thu, 26 Aug 2010 03:51 pm PDT Reuters - Bundle.com, an online personal finance site that counts Citigroup Inc among its backers, is unveiling new features to compete in a growing market for Internet banking and budgeting advice, its chief executive said on Thursday. Full Story Top India says U.S. visa issue may be solved outside WTO Thu, 26 Aug 2010 05:36 am PDT Reuters - India is confident of resolving a visa restrictions issue with the United States outside the WTO framework, a senior government official said on Thursday. Full Story Top Best Buy to use Ford vans for Geek Squad Thu, 26 Aug 2010 12:52 pm PDT AP - Ford Motor Co. said Thursday that electronics retailer Best Buy will use Ford vans for its Geek Squad home service technicians. Full Story Top After Housing Bubble, the Dark Side of Homeowner Dreams Thu, 26 Aug 2010 04:35 pm PDT Time.com - Buying a house is supposed to make us better citizens, better investors and better off. But that American Dream may well be a fantasy Full Story Top Oil falls to near $73 as stock markets retreat Thu, 26 Aug 2010 10:57 pm PDT AP - Oil prices eased in Asia on Friday after two straight days of gains, taking a cue from regional stock markets which retreated amid expectations of slower U.S. economic growth. Full Story Top Swiss halfway done giving UBS account info to US Thu, 26 Aug 2010 01:51 pm PDT AP - The Swiss government said Wednesday it has handed roughly half the names of wealthy Americans demanded by Washington to solve a tax evasion dispute involving Switzerland's biggest bank, UBS AG. Full Story Top Japan automakers report solid production for July Thu, 26 Aug 2010 11:24 pm PDT AP - Japanese automakers say they have posted solid growth in global vehicle production for July. Full Story Top Tax Reform: These Small Steps Could Help Deficit, Economy Tue, 24 Aug 2010 05:08 am PDT BusinessWeek - Is the American system of taxation nearing a watershed moment? It doesn't seem like it, considering the political brawl in Washington over the soon-to-be-expired 2001 and 2003 tax cuts passed during the Bush era. Lawmakers have known for the past several years that, if they did nothing, the tax breaks would automatically end on Dec. 31, 2010. Now, Washington is scrambling as the deadline looms and the economy sputters. Full Story Top

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