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Monday, August 30, 2010 12:00 AM PDT

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Today's Business News: Nikkei up but near day's lows after BOJ disappoints Intel to buy Infineon's wireless ops for $1.4 billion BOJ eases policy to fight yen rise but impact seen slim Fed policy on right course, economists say India meets for decision on BlackBerry ban A look at economic developments around the globe US-ASEAN economic ties 'priority' despite no-show Tiffany 2Q net income rises 19 pct on rising sales Summary Box: British 2Q economic growth revised up Cheaper Reverse Mortgages May Be Coming China's Wen urges new phase in trade with Japan Zara takes the plunge into crowded online market 2 new programs planned to help homeowners Oil hovers above $75 as Asian stocks rally Democrats claim conservative group tax violation August auto sales sluggish Pockets of Profit in Health-Care Stocks Nikkei up but near day's lows after BOJ disappoints Sun, 29 Aug 2010 11:18 pm PDT Reuters - Japan's Nikkei average ended up but near its day's lows on Monday after rising over 3 percent at one point, with investors disappointed by a Bank of Japan decision that contained no surprises and was seen as lackluster at best. Full Story Top Intel to buy Infineon's wireless ops for $1.4 billion Sun, 29 Aug 2010 10:48 pm PDT Reuters - German chipmaker Infineon has agreed to sell its wireless unit to Intel for $1.4 billion, enabling the U.S.chipmaker to boost its presence in the smartphone market. Full Story Top BOJ eases policy to fight yen rise but impact seen slim Sun, 29 Aug 2010 11:47 pm PDT Reuters - The Bank of Japan buckled under government pressure and eased monetary policy at an emergency meeting on Monday in an effort to curb a rise in the yen that is threatening a fragile economic recovery. Full Story Top Fed policy on right course, economists say Sun, 29 Aug 2010 09:02 pm PDT Reuters - Most economists in a recent survey said they approved of the Federal Reserve's current course on monetary policy and see deflation as a risk for the short term. Full Story Top India meets for decision on BlackBerry ban Sun, 29 Aug 2010 11:15 pm PDT Reuters - Indian officials meet on Monday to decide whether to ban some of Research In Motion's BlackBerry services, a day before the deadline runs out for the firm to give security agencies access to its secure data. Full Story Top A look at economic developments around the globe Fri, 27 Aug 2010 11:06 am PDT AP - A look at economic developments and activity in major stock markets around the world Friday: Full Story Top US-ASEAN economic ties 'priority' despite no-show Sat, 28 Aug 2010 09:04 am PDT AFP - Economic ties between the United States and Southeast Asia are "a high priority", an embassy spokesman said Saturday despite the absence of US officials from a key regional trade meeting. Full Story Top Tiffany 2Q net income rises 19 pct on rising sales Fri, 27 Aug 2010 01:40 pm PDT AP - Tiffany & Co.'s second-quarter net income rose 19 percent on higher revenue as shoppers bought more of its high-end jewelry around the world, particularly in Asia and Europe. Full Story Top Summary Box: British 2Q economic growth revised up Fri, 27 Aug 2010 12:35 pm PDT AP - CONSTRUCTION BOOSTS GROWTH: Britain's economy grew by 1.2 percent during the second quarter, faster than the earlier estimate of 1.1 percent, thanks to a sharp rise in construction. Full Story Top Cheaper Reverse Mortgages May Be Coming Fri, 27 Aug 2010 11:05 am PDT U.S. News & World Report - The Federal Housing Administration (FHA) is developing a new reverse mortgage product that sharply cuts up-front payments by home owners but also significantly reduces the percentage of a home's equity that can be paid to owners under the program. Reverse mortgages insured by the government are available on homes where the youngest owner is at least 62 years old. The program is called a Home Equity Conversion Mortgage (HECM). Full Story Top China's Wen urges new phase in trade with Japan Sat, 28 Aug 2010 11:32 pm PDT AFP - China and Japan should face the global financial crisis together and create a new era in trade between the world's second and third largest economies, Chinese Premier Wen Jiabao said Sunday. Full Story Top Zara takes the plunge into crowded online market Sat, 28 Aug 2010 08:19 pm PDT AFP - Europe's largest clothing retailer, Spain's Inditex, is taking its flagship Zara brand online, but it can expect stiff competition from other giants of high-street fashion already well-established in cyberspace. Full Story Top 2 new programs planned to help homeowners Sun, 29 Aug 2010 06:28 am PDT AP - The Obama administration's top housing official says several new programs are in the works to help try to revive the housing market. Full Story Top Oil hovers above $75 as Asian stocks rally Sun, 29 Aug 2010 09:58 pm PDT AP - Oil prices hovered above $75 a barrel Monday in Asia, buoyed by rallying global stock markets and improving investor sentiment. Full Story Top Democrats claim conservative group tax violation Fri, 27 Aug 2010 03:54 pm PDT AP - The Democratic Party has filed a complaint with the Internal Revenue Service complaining that a conservative foundation spending millions of dollars on ads in election battleground states is violating its status as a tax-exempt organization. Full Story Top August auto sales sluggish Fri, 27 Aug 2010 08:19 pm PDT Reuters - The U.S. auto industry felt like it dodged a bullet in July when retail sales to consumers held up and confounded forecasts for a drop, but then August came and that sense of relief went out the window. Full Story Top Pockets of Profit in Health-Care Stocks Fri, 27 Aug 2010 05:08 am PDT BusinessWeek - Health care has historically been a defensive sector of the stock market. It continues to underperform in an environment in which many would have predicted it would do better. This is because there's a lack of leadership in the household names: Merck (NYSE:MRK - News), Pfizer (NYSE:PFE - News), Johnson & Johnson (NYSE:JNJ - News), Medtronic (NYSE:MDT - News). In the next 6 to 12 months, none of these companies will be in the early phases of -- or about to engage in -- important new product cycles. Full Story Top

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