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Thursday, September 30, 2010 12:02 AM PDT

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Today's Business News: Dollar stuck near lows, Asian stocks slip China says U.S. yuan bill violates WTO J&J CEO faces U.S. lawmakers over string of recalls Consumer czar says wants banks' help on rules Regulators vow team effort on financial reform FTSE 100 closes down Obama faces voter policy doubts in backyard meeting Worthington 1Q profit more than triples Moody's downgrades Spanish gov't debt Congress OKs higher mortgage loan limit extension China: US bill on yuan would violate WTO rules Wal-Mart names new CFO as Schoewe plans to leave About 1 in 4 Q2 home sales a foreclosure: report Oil hovers below $78 after US crude supply drop Michigan lawmakers finish passing state budget CA gov. signs bill allowing video monitors in cars College Graduates' Top Employers Dollar stuck near lows, Asian stocks slip Wed, 29 Sep 2010 09:26 pm PDT Reuters - The dollar was stuck near an eight-month low on Thursday, ground down by expectations of more Federal Reserve easing, while Asian stocks pulled back slightly from a two-year high as markets took a breather from September's strong rally. Full Story Top China says U.S. yuan bill violates WTO Wed, 29 Sep 2010 10:38 pm PDT Reuters - China on Thursday hit back at a bill passed by the House of Representatives aimed at pressuring Beijing to let its currency rise faster by branding it in violation of world trade rules, but Beijing stopped short of threatening any retaliatory actions. Full Story Top J&J CEO faces U.S. lawmakers over string of recalls Wed, 29 Sep 2010 09:19 pm PDT Reuters - Johnson & Johnson's massive recall of faulty medicines, including a quiet buyback of its Motrin painkiller, has angered U.S. lawmakers who will question the company's chief executive and a senior health regulator on Thursday. Full Story Top Consumer czar says wants banks' help on rules Wed, 29 Sep 2010 06:04 pm PDT Reuters - Elizabeth Warren, the Obama administration's new consumer financial czar, offered an olive branch to the largest U.S. banks on Wednesday, saying she wanted their help in developing a principles-based approach to rulemaking. Full Story Top Regulators vow team effort on financial reform Wed, 29 Sep 2010 01:52 pm PDT Reuters - U.S. regulators will put up a united front before a divided Congress on Thursday, promising to cooperate on hundreds of new rules aimed at preventing Wall Street excesses from triggering another financial crisis. Full Story Top FTSE 100 closes down Wed, 29 Sep 2010 09:15 am PDT AFP - London stocks closed down on Wednesday despite a late rally triggered by positive US stock futures. Full Story Top Obama faces voter policy doubts in backyard meeting Wed, 29 Sep 2010 02:31 pm PDT Reuters - President Barack Obama defended his economic policies on Wednesday in the face of tough questions from skeptical Americans less than five weeks before congressional elections that threaten his fellow Democrats' grip on Congress. Full Story Top Worthington 1Q profit more than triples Wed, 29 Sep 2010 02:49 pm PDT AP - Metal manufacturer Worthington Industries Inc. said Wednesday that its fiscal first-quarter profit more than tripled with growth in its steel processing and pressure cylinders businesses. Full Story Top Moody's downgrades Spanish gov't debt Wed, 29 Sep 2010 11:41 pm PDT AP - Moody's Investors Service has downgraded the Spanish government debt, joining two other major credit rating agencies who have taken similar steps out of concern over the country's public finances. Full Story Top Congress OKs higher mortgage loan limit extension Wed, 29 Sep 2010 09:29 pm PDT Reuters - The U.S. Congress on Thursday voted to extend higher loan limits for government-backed mortgages, a move that should help keep borrowing costs low and support the shaky housing sector. Full Story Top China: US bill on yuan would violate WTO rules Wed, 29 Sep 2010 11:34 pm PDT AFP - China said Thursday a bill passed by US lawmakers that could punish Beijing for allegedly manipulating the value of the yuan would violate World Trade Organisation rules. Full Story Top Wal-Mart names new CFO as Schoewe plans to leave Wed, 29 Sep 2010 03:18 pm PDT AP - Wal-Mart Stores Inc. Chief Financial Officer Tom Schoewe is retiring, the retailer announced Wednesday, and it has promoted Charles Holley to be his replacement. Full Story Top About 1 in 4 Q2 home sales a foreclosure: report Wed, 29 Sep 2010 09:13 pm PDT Reuters - Nearly one in every four U.S. homes sold in the second quarter was a deeply discounted foreclosed house, putting the market on pace to work through distressed properties in about three years, RealtyTrac said. Full Story Top Oil hovers below $78 after US crude supply drop Wed, 29 Sep 2010 10:24 pm PDT AP - Oil prices hovered below $78 a barrel Thursday in Asia after strong gains the previous day on a drop in U.S. crude supplies, a sign demand may be improving. Full Story Top Michigan lawmakers finish passing state budget Wed, 29 Sep 2010 07:34 pm PDT AP - Michigan lawmakers wrapped up the final key pieces of the next state budget on Wednesday, without tax increases and with spending cuts in many programs other than aid to public schools. Full Story Top CA gov. signs bill allowing video monitors in cars Wed, 29 Sep 2010 08:47 pm PDT AP - A bill signed into law in California will allow carmakers and owners to equip their vehicles with video recording devices on their windshields. Full Story Top College Graduates' Top Employers Wed, 29 Sep 2010 05:08 am PDT BusinessWeek - Having captured the hearts and minds of undergraduate business students, Google is still No. 1 in the latest Universum ranking of the most popular employers rated by young people. But it shouldn't get too cocky: The competition is getting fiercer. Full Story Top

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