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Sunday, August 1, 2010 12:00 AM PDT

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Today's Business News: Wall Street marks best month in a year in July UK's Osborne urges banks to lend, restrain bonuses Eurazeo in exclusive B&B Hotels talks with Carlyle BP may sell German gas stations for $2.6 billion: report Jobs data, earnings latest test for stocks Citigroup paying $75M to settle civil charges Bleak outlook for economy as growth slows ICICI Bank profit up 17 percent on better loans Greece turns to military to restore fuel supplies Cuomo widens insurer probe with 6 more subpoenas Champagne corks popping again in luxury business Soaring e-book sales speak volumes Michigan voters search for economic savior Coast Guard allows toxic chemical use on Gulf oil Debate on death and taxes heats up as billionaires fall Fiat boss shakes up Italian labour The Rebirth of Prague's Vltava River Wall Street marks best month in a year in July Fri, 30 Jul 2010 01:45 pm PDT Reuters - U.S. stocks closed little changed on Friday, but Wall Street wrapped up its best month in a year after the earnings season rounded the final turn with a group of strong results that offset the impact of poor economic data. Full Story Top UK's Osborne urges banks to lend, restrain bonuses Sat, 31 Jul 2010 07:40 pm PDT Reuters - British finance minister George Osborne urged the country's banks to use strong first-half profits to boost business lending rather than pay large bonuses, in an interview published late on Saturday. Full Story Top Eurazeo in exclusive B&B Hotels talks with Carlyle Sat, 31 Jul 2010 06:38 am PDT Reuters - French financial holding firm Eurazeo said on Saturday it is in exclusive talks to sell its B&B Hotels chain to U.S. private equity firm the Carlyle Group. Full Story Top BP may sell German gas stations for $2.6 billion: report Sat, 31 Jul 2010 07:35 am PDT Reuters - BP Plc is seeking to sell its German petrol station chain Aral for around 2 billion euros ($2.6 billion), German magazine Wirtschaftswoche reported on Saturday, citing investment bankers familiar with BP's plans. Full Story Top Jobs data, earnings latest test for stocks Fri, 30 Jul 2010 02:46 pm PDT Reuters - U.S. stocks are unlikely to break above a key technical level next week unless monthly jobs data and consumer company results paint a more promising picture of the recovery. Full Story Top Citigroup paying $75M to settle civil charges Thu, 29 Jul 2010 05:50 pm PDT AP - Banking titan Citigroup Inc. is paying $75 million to settle civil charges that it misled investors about its potential losses from subprime mortgages as the housing bust hit in 2007. Full Story Top Bleak outlook for economy as growth slows Fri, 30 Jul 2010 01:53 pm PDT AP - The economy is still growing, just not by much. And until that changes, don't look for the jobs to come back. Full Story Top ICICI Bank profit up 17 percent on better loans Sat, 31 Jul 2010 04:18 am PDT AP - ICICI Bank, India's largest private sector bank, said quarterly profit rose 17 percent as it cut costs and eliminated bad loans amid revived credit demand in India's growing economy. Full Story Top Greece turns to military to restore fuel supplies Fri, 30 Jul 2010 11:36 am PDT AP - Greece said Friday it will use military trucks, navy vessels and commandeered fuel tankers to restore gasoline supplies cut by a strike that has hurt the country's industry and vital tourism trade at the height of vacation season. Full Story Top Cuomo widens insurer probe with 6 more subpoenas Fri, 30 Jul 2010 11:32 am PDT Reuters - New York Attorney General Andrew Cuomo has subpoenaed six more insurers as the state widens a probe into whether life insurance companies have defrauded families of deceased members of the military. Full Story Top Champagne corks popping again in luxury business Sat, 31 Jul 2010 11:05 pm PDT AFP - Champagne corks are popping again in the luxury business as "It" bags and expensive watches this year sell like hotcakes from Beijing to New York, signalling the turning of a page after the global financial crisis. Full Story Top Soaring e-book sales speak volumes Sat, 31 Jul 2010 10:54 pm PDT AFP - After years of lurking in the literary wilderness, the e-book market has exploded with online retailer Amazon.com's digital volumes recently overtaking sales of their hardcover counterparts. Full Story Top Michigan voters search for economic savior Sat, 31 Jul 2010 03:23 pm PDT AP - Michigan voters frustrated over lost jobs, home foreclosures and budget deficits will vote in Tuesday's primary election for leaders they hope can move the state out of its economic morass. Full Story Top Coast Guard allows toxic chemical use on Gulf oil Sat, 31 Jul 2010 11:05 pm PDT AP - The U.S. Coast Guard has routinely approved BP requests to use thousands of gallons of toxic chemical a day to break up oil slicks in the Gulf of Mexico despite a federal directive that the chemicals be used only rarely on surface waters, congressional investigators said Saturday after examining BP and government documents. Full Story Top Debate on death and taxes heats up as billionaires fall Sat, 31 Jul 2010 08:01 pm PDT AFP - The question of death and taxes has risen to the fore in Washington as the demise of prominent billionaires has underscored a fluke which allows big estates to escape taxes, but only for this year. Full Story Top Fiat boss shakes up Italian labour Sat, 31 Jul 2010 08:46 pm PDT AFP - Fiat boss Sergio Marchionne is shaking up labour relations in Italy by strong-arming unions as he aims to create a global megagroup with US automaker Chrysler. Full Story Top The Rebirth of Prague's Vltava River Thu, 29 Jul 2010 05:08 am PDT BusinessWeek - When Petr Vojak was deciding where to settle down with his family last year, his aim was clear. He wanted somewhere peaceful yet central. Eventually, they decided on a new flat in a northern district along the Vltava river, which flows through Prague. Full Story Top

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