Press of Atlantic City - National Business

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Business

Jul 24, 2008	Amex OKs Buena firm's proposal to stay listed
Jul 23, 2008	Utilities hope to generate fuel savings with hybrids
Jul 23, 2008	Utilities hope to generate fuel savings with hybrids
Jul 23, 2008	Utilities hope to generate fuel savings with hybrids
Jul 20, 2008	Local economy improving but still has work to do, study finds
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Technology

Jul 24, 2008	Facebook to help some programmers, punish others
Jul 24, 2008	Nokia, Qualcomm settle long-running dispute
Jul 24, 2008	Pittsburgh cancer center warns of cell phone risksJennifer Yates reported from Pittsburgh. Science Writer Seth Borenstein reported from Washington. Reporter Ramit Plushnick-Masti contributed from Pittsburgh and Science Writer Malcolm Ritter contributed from New York.
Jul 24, 2008	South Korea's Hynix to close US chip plant
Jul 24, 2008	Amazon shrugs off high gas prices, weak economy
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Autos

Jul 23, 2008	Toyota outsells GM worldwide in first halfAP Business Writer Yuri Kageyama in Tokyo contributed to this report.
Jul 23, 2008	Toyota's global sales rose 2 percent in 1st-half
Jul 23, 2008	Utilities say grid can handle rechargeable cars
Jul 22, 2008	AP IMPACT: Traffic deaths fall as gas prices climb
Jul 22, 2008	AP source: Ford to retool truck lines to make carsAP Auto Writer Tom Krisher reported from San Jose, Calif. AP Business Writer Dan Strumpf in New York also contributed.
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Jobs

Jul 24, 2008	Minimum wage going up, but so does inflationAP Business Writers Ellen Simon and Anne D'Innocenzio in New York contributed to this report.
Jul 23, 2008	Chrysler plans to cut 1,000 salaried jobs
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Real Estate

Jul 24, 2008	House OKs rescue for homeowners, Freddie, Fannie
Jul 23, 2008	Jonas Brothers buy house in Dallas-Fort Worth area
Jul 22, 2008	Rescue of mortgage giants could hit $25 billionAP reporters Candice Choi in New York and Jeannine Aversa in Washington contributed to this report.
Jul 22, 2008	Paulson says financial stability is top priorityAP reporters Candice Choi in New York and Julie Hirschfeld Davis in Washington contributed to this report.
Jul 18, 2008	Web sites give voyeurs view of neighborhood safety
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Science & Nature

Jul 22, 2008	A clear sky sets stage for a sea of big stars
Jul 22, 2008	Piping plovers survive on state beaches by hiding in plain sight
Jul 15, 2008	Jupiter brightest planet in July sky
Jul 15, 2008	Humans aren't only parents who have to carry children around
Jul 08, 2008	Saturn and Mars get cozy in the sky
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House OKs rescue for homeowners, Freddie, Fannie

By JULIE HIRSCHFELD DAVIS

Published: Jul 24, 2008

Rescue legislation sailed through the House on Wednesday aimed at helping 400,000 strapped homeowners avoid foreclosure and preventing the collapse of troubled mortgage companies Fannie Mae and Freddie Mac.

The 272-152 vote reflected a congressional push to send election-year help to struggling borrowers and to reassure jittery financial markets about the health of two pillars of the mortgage market.

Hours before the vote, President Bush dropped his opposition to the measure, which now is on track to pass the Senate and become law within days.

The White House swallowed its distaste for $3.9 billion in grants for devastated neighborhoods. In return, the administration got both the power to throw Fannie Mae and Freddie Mac a lifeline and the legislation Republicans long have advocated to rein in the government-sponsored mortgage companies. More

Jul 24, 2008

• WTO powers cite some progress in marathon meeting

A marathon meeting of the world's top commercial powers ended early in the morning in Geneva with negotiators citing some progress in talks on a new global trade pact.

Jul 24, 2008

• Newmont Mining swings to 2Q profit

Newmont Mining says it earned $277 million in the second quarter as it sold more gold at higher prices.

Jul 24, 2008

• AP Executive Morning Briefing

The top business news from The Associated Press for the morning of Thursday, July 24, 2008:

Jul 24, 2008

• Japanese shares rise on Wall Street gains, oil

Japanese shares rose for the third straight session Thursday, lifted by further gains on Wall Street and a continuing slide in oil prices.

Jul 24, 2008

• Hyundai Motor profit slips as sales rise

South Korea's Hyundai Motor said Thursday that its second-quarter net profit declined nearly 11 percent despite higher sales, and vowed to fight high oil prices by aggressively exporting more fuel efficient vehicles.

Jul 24, 2008

• Oil steady above $124 after steep drop

Oil prices steadied in Asian trading Thursday after shedding nearly $4 a barrel in the previous session on concerns that high fuel prices are dampening demand in the world's biggest energy consumer.

Jul 24, 2008

• Canon reports 13 percent drop in profit

Canon Inc. said Thursday its second-quarter profit fell 13 percent from a year ago as a stronger yen chipped away at the value of booming overseas sales of color copiers.

Jul 24, 2008

• Visa survey shows foreign travel remains popular

The weak U.S. dollar has not dissuaded Americans from planning trips abroad this year, but they may be heading to destinations closer to home, according to a survey released Thursday by Visa Inc.

Jul 24, 2008

• Expert warns wheat residue too valuable to lose

Times are good for wheat farmers, but they should resist the urge to harvest their crop residue and sell it for ethanol production, a federal researcher says.

Jul 24, 2008

• Minimum wage going up, but so does inflation

About 2 million Americans get a raise Thursday as the federal minimum wage rises 70 cents. The bad news: Higher gas and food prices are swallowing it up, and some small businesses will pass the cost of the wage hike to consumers.

Jul 24, 2008

• Housing bill won't solve market's problems

Cash-strapped homebuyers and borrowers facing foreclosure will get some relief from a housing bill passed by the House on Wednesday but the bill won't solve the deep-rooted ills of the U.S. housing market.

Jul 24, 2008

• Insurance tests raise questions about some pickups

The latest crash tests by the insurance industry raise safety questions about small pickups, which are drawing more interest because they get better mileage than larger trucks.

Jul 23, 2008

• Ship-barge crash closes Mississippi at New Orleans

A stretch of the Mississippi River at New Orleans could be closed for days as crews clean a 12-mile oil slick caused Wednesday when a tanker and barge collided, officials said.

Jul 23, 2008

• FEMA seeks immunity from suits over trailer fumes

The Federal Emergency Management Agency asked a federal judge Wednesday for immunity from lawsuits over potentially dangerous fumes in government-issued trailers that have housed tens of thousands of Gulf Coast hurricane victims.

Jul 23, 2008

• Ship-barge crash closes Mississippi at New Orleans

A stretch of the Mississippi River at New Orleans could be closed for days as crews clean a 12-mile oil slick caused Wednesday when a tanker and barge collided, officials said.

Jul 23, 2008

• Weak dollar, foreign sales boost drugmakers

Profits posted Wednesday by Pfizer Inc. and Wyeth show a common theme among pharmaceutical companies - nearly all the growth they're seeing these days is overseas, driven by emerging markets and the weak dollar.

Jul 23, 2008

• Toyota outsells GM worldwide in first half

General Motors Corp., pummeled by falling U.S. sales and high gas prices, lost the global sales lead to Toyota Motor Corp. in the first half of this year, but the churning market makes it difficult to predict which automaker will end the year on top.

Jul 23, 2008

• Product Recalls: vacuum attachment tools

The following recalls have been announced:

Jul 23, 2008

• McDonald's swings to profit, may alter dollar menu

Consumers helped bring McDonald's Corp. back to profitability in the second quarter by spending on breakfast biscuits, chicken sandwiches and drinks despite the tough economy in the U.S.

Jul 23, 2008

• AT&T 2Q profit up 30 pct, matching Street's view

AT&T Inc.'s second-quarter financial results Wednesday indicated that the weak economy is catching up to the nation's largest telecommunications company, but investors were largely satisfied with what they saw.

Jul 23, 2008

• FCC nearing approval of satellite radio deal

The proposed merger of the Sirius and XM satellite radio companies appeared close to final approval Wednesday, with the sole undecided member of the Federal Communications Commission poised to support the deal if the companies settle past rules violations.

Jul 23, 2008

• PepsiCo 2Q profit rises 9 percent

American consumers shying away from bottled water and soft drinks hurt PepsiCo's bottom line, but growth in its international and Frito-Lay snack businesses was strong enough to lead the company to a 9 percent rise in second-quarter profit.

Jul 23, 2008

• Whirlpool reports 27 percent dip in 2Q profit

Household appliance maker Whirlpool Corp. said Wednesday its second-quarter profit fell 27 percent because of higher material and oil-related costs, and lower U.S. demand.

Jul 23, 2008

• Summary Box: Minimum wage increase may not go far

WHAT'S HAPPENING: The federal minimum wage will increase 70 cents, to $6.55 an hour, on Thursday, giving about 2 million workers a raise.

Jul 23, 2008

• Sallie Mae's 2Q profit falls 72 percent

Student lender SLM Corp., more commonly known as Sallie Mae, said Wednesday its second-quarter profit plunged 72 percent as funding costs remained high amid further weakening in the credit markets and the company took charges related to its restructuring.

Jul 23, 2008

• Stocks advance following sharp drop in oil prices

Stocks advanced for the second straight session Wednesday as another decline in oil prices and several upbeat profit reports eased some of Wall Street's concerns about the economy.

Jul 23, 2008

• Costco's profits squeezed by higher energy costs

Costco Wholesale Corp. - which has attracted shoppers looking for cheaper options - warned Wednesday that its earnings in the current quarter will be below Wall Street expectations as it faces higher energy costs that are crimping profit margins.

Jul 23, 2008

• Treasury prices extend losses in flight to stocks

Treasury prices fell for a second straight session Wednesday as investors grew increasingly optimistic about the ability of banks and brokerages to weather the credit crisis.

Jul 23, 2008

• Hershey 2Q profit, sales up after price increase

Raising prices and streamlining its production lines helped Hershey to dramatically higher second-quarter sales and profit, the nation's largest candy maker said Wednesday, even as it absorbs spiraling commodity costs and puts new emphasis on marketing muscle.

Jul 23, 2008

• Costco sees 4Q below estimates

Costco Wholesale Corp. said Wednesday that its earnings for the current quarter will be lower than expected as it delays raising prices on items from food to patio sets amid soaring energy costs that have accelerated in recent weeks.

Jul 23, 2008

• Waiters pick up part of LongHorn's labor costs

With the cost of everything from air conditioning to whipped cream rising, many restaurants have been raising prices. LongHorn Steakhouse is passing on part of the tab to its servers.

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