Posted Wednesday July 9, 2008, 12:15 am, Over one day old
The Bush administration and the Securities and Exchange Commission are pressing forward with a plan that would allow American companies to opt out of using U.S. accounting standards in favor of international ones as a way to ease global business dealings and...
Read New accounting plan gaining momentum / U.S. firms could file reports under international rules (Links)
Posted Wednesday July 9, 2008, 12:15 am, Over one day old
DreamWorks switches chipsets from AMD to Intel DreamWorks Animation SKG Inc., maker of the "Shrek" movies and "Kung Fu Panda," said Tuesday that it will switch from Advanced Micro Devices Inc. computer chips to Intel Corp.'s as it moves toward making all 3-D...
Read DAILY DIGEST (Links)
Posted Wednesday July 9, 2008, 12:15 am, Over one day old
Signs are emerging that the U.S. housing market's long slump is likely to fester through the summer, and the real estate market may not recover for at least another year. The latest report, the National Association of Realtors' pending home sales index,...
Read Realtors' pending sales index dips to 3rd-lowest mark / May figure off 4.7% - a sign the slump will not end soon (Links)
Posted Wednesday July 9, 2008, 12:15 am, Over one day old
The Federal Reserve will issue rules next week designed to protect future home buyers from dubious lending practices, its most sweeping response to a housing crisis that has propelled foreclosures to record highs. Fed Chairman Ben Bernanke spoke of the much-...
Read Fed to curb shady home-lending practices (Links)
Posted Wednesday July 9, 2008, 12:15 am, Over one day old
The three main credit-rating agencies failed to rein in conflicts of interest in giving high ratings to risky securities backed by subprime mortgages that later collapsed, federal regulators said Tuesday. The results of the yearlong review by the Securities...
Read SEC: Credit raters had conflicts of interest (Links)
Posted Wednesday July 9, 2008, 12:15 am, Over one day old
Faced with record-high foreclosure rates, the Bush administration has been scrambling to keep people from losing their homes, but many homeowners are beyond help, Treasury Secretary Henry Paulson said Tuesday. Lax lending standards that accompanied the once...
Read Many foreclosures can't be avoided, Treasury chief says (Links)
Posted Wednesday July 9, 2008, 12:15 am, Over one day old
In a move that rocked one of Silicon Valley's most important young technology companies, VMware Chief Executive Officer Diane Greene stepped down abruptly on Tuesday, sending shares down nearly 25 percent. Her departure is a setback for VMware, which warned...
Read VMware chief executive Diane Greene quits (Links)
Posted Wednesday July 9, 2008, 12:15 am, Over one day old
Gov. Arnold Schwarzenegger was in Oakland's Fruitvale neighborhood Tuesday to sign into law a bill designed to help California homeowners avoid foreclosure. State Senate President Pro Tem Don Perata, D-Oakland, who introduced SB1137, was on hand, along with...
Read Law helps struggling homeowners (Links)
Posted Wednesday July 9, 2008, 12:15 am, Over one day old
With triple-digit temperatures turning California into a kiln, the state could set a record this week for the amount of electricity it uses. Managers of California's electrical grid on Tuesday warned that the state could break the record set two years ago,...
Read Heat could push state's power use to record (Links)
Posted Wednesday July 9, 2008, 12:15 am, Over one day old
Gasoline prices are drifting downward in California but are still a whopping $1.43 per gallon higher than they were a year ago, according to the latest monthly update from the AAA of Northern California auto club. The state's average price for a gallon of...
Read Gas price slips slightly in state (Links)
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