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SanFranciscoStar.com Saturday 31st July 2010 Volume 307/2010
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Wall Street withstands lower GDP figureWall Street withstands lower GDP figure
The major indices finished flat Friday despite a weaker than expected GDP figure for the June...


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$718 million deposits at LibertyBank seized by state regulator $718 million deposits at LibertyBank seized by state regulator
The more than 25-year old bank was shut on Friday as the FDIC took over as...
Incoming BP CEO vows long term support for Gulf residentsIncoming BP CEO vows long term support for Gulf residents
BP will begin scaling back its oil containment efforts, CEO-elect Robert Dudley told reporters on his first trip to the Gulf since the board...
Coastal Community and Apalachicola State Bank closed Coastal Community and Apalachicola State Bank closed
The banks origins date back to 1897 when Apalachicola State Bank was...
June quarter GDP comes in lower than expectedJune quarter GDP comes in lower than expected
First quarter growth was revised upwards to an annualised 3.7% growth...
Spain unemployment double EU averageSpain unemployment double EU average
Spain's economy continues to take a hammering with the latest unemployment figures showing the highest levels in thirteen...
Cowlitz and Bay Bank branches in Washington and Oregon closedCowlitz and Bay Bank branches in Washington and Oregon closed
Bank branches across Washington and Oregon were closed on Friday as the Cowlitz Bank group...
BA fails to make profit in second quarterBA fails to make profit in second quarter
BA has reported a loss of over £200 million in the second quarter of 2010, but still sees breakeven or profit for end of...
Centennial Bank takes over troubled Bayside Savings BankCentennial Bank takes over troubled Bayside Savings Bank
Bayside Savings Bank is the third bank to fail in Florida in the past...
NorthWest Bank and Trust is terminatedNorthWest Bank and Trust is terminated
The NorthWest Bank and Trust, of Acworth, Georgia is no...
Google returns its servers to ChinaGoogle returns its servers to China
Google's search engine has once again started working in China, where users had been temporarily blocked from accessing the...
Terminal 3 opened at Indira Gandhi International AirportTerminal 3 opened at Indira Gandhi International Airport
The first flights have been arriving this week at India's newest and largest air...
Italian parliament passes austerity billItalian parliament passes austerity bill
The Italian parliament has approved its austerity package by a vote 321 to 270...
Iraqi power stations to be built by French firmIraqi power stations to be built by French firm
The French energy infrastructure firm Alstom has signed a memorandum of understanding with the Iraqi...
Oil ventures being set up between Italy and EgyptOil ventures being set up between Italy and Egypt
The Italian energy group, ENI, has agreed to aid in the production and transport of oil and gas supplies in...
Stanford Said to Name Hewlett-Packard’s Frier to Endowment Post
July 31 (Bloomberg) -- Stanford University, the third- richest U.S. college, plans to name Ken Frier chief investment officer, filling a position that’s been open more than two years, according...
Loonie’s First Monthly Gain Since April Reflects Growth Appeal
July 31 (Bloomberg) -- Canada’s dollar strengthened against its U.S. counterpart in July, the first monthly gain since April, as increases in equities and commodities bolstered the appeal of...
'Many of India's billionaires have made money by their proximity to govt'
You refer in your book to the fact that India has the second largest number of billionaires per trillion dollars of GDP as a "dubious distinction". Why? It was second largest to Russia before...
SecurityCoverage Partners with Microsoft to Protect Customers
SecurityCoverage joined the Microsoft Active Protections Program (MAPP), and will be provided with vulnerability information in advance of Microsoft's monthly security update...
Matrox to Demonstrate Extio KVM Extension Technology at 2010 Honeywell Users Group Pacific Symposium
DORVAL, QUEBEC CA July 31, 2010 /24-7PressRelease/ -- Matrox Graphics, provider of the most extensive range of advanced multi-display graphics hardware for process automation systems, is proud to be...
Zambia 2010 Copper Output Seen 7% Up On Year--Central Bank
DOW JONES NEWSWIRES Zambia's 2010 copper output is projected to increase by at least 7% on the year as the country's mines continue to ramp up output following the recovery of global copper prices,...
Debris in Relief Well Sets Back Work on Gusher
Tropical Storm Bonnie left crews working to plug the Gulf oil gusher a little memento that is expected to push their work back about a...
Paperwork Nightmare: A Struggle to Fix New Law
Tucked into the nation's massive new health care law is a requirement that could become a paperwork nightmare for nearly 40 million businesses. The rule: They must file tax forms for every vendor...
House Approves Oil Spill Bill; Stalled in Senate
Demonstrator Mary Ann Thomas wears chocolate syrup on her face next to a similarly stained stuffed duck on a fence during a protest in Berkeley, Calif. on Friday, July 30, 2010 to mark the 100th day...
Abbott Overtakes Gillard in Pre-Ballot Australia Poll
July 31 (Bloomberg) -- Australian opposition leader Tony Abbott’s coalition has an election-winning lead over Prime Minister Julia Gillard’s Labor Party with three weeks of campaigning...
Arizona immigration law appeal set for November
July 31, 2010 * Court to hear Arizona's appeal on immigration law * Request for expedited hearing denied PHOENIX, Ariz. (Reuters) - A U.S. court denied a request for an expedited hearing...
Arena Rises As Editorial Raises Questions About Rival
ARNA ) stock rose 14% on optimism for its experimental weight-loss drug Lorcaserin, after an editorial in a medical journal raised questions about the need for more data from a potential rival...
Judge Bars Expansion Of Mosaic Co Florida Phosphate Mine
MOS ) from expanding a key phosphate mine in Florida due to environmental concerns. The ruling Friday evening by a federal district court judge in Jacksonville, Fla., found that the Sierra Club and...
Out of Pilots, Philippine Airline Grounds Flights
Good morning, passengers, and welcome aboard. We're expecting clear skies today, but we're out of pilots. National air carrier Philippine Airlines had to cancel at least five flights Saturday —...
Seardel sees loss 23.4 cents vs 53.3 cents earnings
Submit your comment Seardel last week reported that its headline loss per share for the six months ended September 2009 was at 23.4 cents, down 56.2 percent from the 53.3 cents reported last year. ...
HCI: Seardel gives earnings boost
Submit your comment Hosken Consolidated Investments (HCI) reported a 17 percent rise in full-year earnings yesterday, helped by growth in its media business and its stake in textile firm Seardel. ...
Wall Street trades flat after mixed data
A trader works on the floor of the New York Stock Exchange in New York, the United States, July 30, 2010. Wall Street traded flat on Friday as investors weighed mixed messages in economic reports....
Market Snapshot: U.S. stock market to continue balancing act
NEW YORK (MarketWatch) -- The U.S. stock market is likely to continue pulling risk on and off the table in the days ahead, with another heavy round of earnings reports in store, along will a full...
Illinois Sends Divergent Signal to Investors, Voters on Deficit
July 31 (Bloomberg) -- Illinois Governor Pat Quinn’s administration is sending different messages to municipal- bond investors and voters about its plans to close the state’s $13 billion...
Cannon Says Iran Hides Nuclear Plans; G-8 Will Review Sanctions
July 31 (Bloomberg) -- Canadian Foreign Minister Lawrence Cannon said Iran is “hiding” the truth about its nuclear program and added that the effectiveness of new sanctions will be...
July is best month for stocks on Wall Street in a year
July ended up being a big positive month for the stock market, as the Dow Jones Industrial Average closed up nearly 7.1 percent for the month, making it the strongest month in a year. While news...
US stocks move little but have best month in a year
NEW YORK - Stocks had a fitting end to a choppy July on Friday, US time, as prices seesawed their way to a narrowly mixed finish. But despite the turbulence, this was still the market's best month in...
Mexico says GDP up about 7 pct yr/yr in 2nd qtr
July 31, 2010 MEXICO CITY (Reuters) - Mexico's finance ministry said Friday the Mexican economy likely grew about 7 percent during the second quarter from a year earlier. The ministry also said...
U.S. bank failures total 108 after 5 shut on Friday
July 31, 2010 By Corbett B. Daly WASHINGTON, July 30 (Reuters) - U.S. bank failures reached 108 so far in 2010 on Friday as regulators seized five small banks in the Pacific Northwest and the...
US Regulators Close Five Banks In Four States
WASHINGTON -(Dow Jones)- U.S. regulators closed five more banks in four states Friday evening, as a still-weak economy continues to batter the banking industry. Federal regulators said banks in...
US Regulators Close LibertyBank In Eugene, Ore
WASHINGTON -(Dow Jones)- U.S. regulators closed LibertyBank of Eugene, Ore., bringing the 2010 total of failed banks to 108. The Oregon Division of Finance and Corporate Securities seized the bank,...
Wall Street marks best month in a year in July
US 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...
Microsoft rushes fix for Windows shortcut hole
(Credit: Microsoft) Microsoft plans to release a patch on Monday for a flaw involving how Windows handles shortcut files, after seeing the hole being used to spread a particularly nasty and...
Mass. Legislative Leaders OK Deal on Casino Bill
Massachusetts House and Senate leaders agreed Friday to the state's most sweeping expansion of gambling in four decades — drawing immediate criticism from Gov. Deval Patrick, who said he can't sign...
Wealthy Dallas Brothers Become SEC Fraud Target
FILE ** In this file photo of Sept. 2, 2008 Sam Wyly poses at his Explore book store in Aspen, Colo. Famed Dallas billionaire investors Sam and Charles Wyly made $550 million in undisclosed profits...
Some signs of a slowly rebounding economy
Steve Meads could use a few more customers like Mike Barry. Barry is president of Twin City Fan & Blower, a manufacturer of industrial fans and ventilation systems that is growing. And Meads,...
Top local Teamster splits with Hoffa
Veteran Twin Cities labor leader Tom Keegel has been at James P. Hoffa's side in the Teamsters union for 12 years. The Hoffa-Keegel ticket -- with Hoffa as president and Keegel as the No. 2 man --...
Dinkytown gets something it has lacked: a drugstore
A big-name pharmacy will open in Dinkytown in August, the college neighborhood's first drugstore in more than a decade. While mom-and-pop shops outnumber brand-name stores in Dinkytown, some of the...
As recovery slows, job outlook fades
There is no more disputing it: The economic recovery in the United States has slowed. The nation's economy has been growing for a year, with few new jobs to show for it. Now, with the government...