Top Stories
Craigslist strikes adult services under pressure
[AP] - Craigslist appears to have surrendered in a legal fight over erotic ads posted on its website, shutting down its adult services section Saturday and replacing it with a black bar that simply says "censored."
Earl's biggest damage in Northeast: Business
[AP] - In the end, Earl's worst damage in New England was to seasonal businesses hoping to end their summer on a high note. The tropical storm, far less intense than feared, brushed past the Northeast and dumped heavy, wind-driven rain on Cape Cod cottages and fishing villages, but caused little damage.
Kinect's Israeli partner sees a remoteless world
[AP] - Inon Beracha envisions a world where your movements control the gadgets and devices around you. There's no remote control to lose, no buttons to push. The air conditioner senses your presence and changes the temperature to your liking.
Despite hiring, US unemployment rate seems frozen
[AP] - Unemployment is stuck at high levels even though some companies are hiring. The problem, government data show, is that too few jobs are being created for the growing number of people looking for work.
Stocks extend September rally after jobs report
[AP] - The stock market had its first winning week in a month thanks to better news on the economy. The Dow Jones industrial average jumped 128 points Friday, its fourth straight day of gains.
UPS cargo plane crashes near Dubai airport
[AP] - A UPS cargo plane with two crew members on board crashed shortly after takeoff Friday outside Dubai, officials said. The state news agency WAM, quoting the General Civil Aviation Authority, reported that the "bodies of two pilots" had been found at the scene, but UPS did not confirm that.
What now for Gulf? Fire complicates drill debate
[AP] - What now for the Gulf? News of another oil rig fire in the Gulf of Mexico, so soon after the BP oil spill, has set off a wave of anxiety along the Gulf Coast and prompted calls for the government to extend its six-month ban on deepwater drilling.
Goldcorp to buy Andean Resources for $3.42B
[AP] - Canada's Goldcorp Inc. said Friday it has agreed to buy Andean Resources Ltd. for about 3.6 billion Canadian dollars , trumping a rival bid from Eldorado Gold Corp.
Service sector grows at slower pace in August
[AP] - The U.S. service sector, the nation's predominant job generator, expanded for the eighth straight month in August although the pace of growth slowed, according to a trade group survey.
Latest Gulf oil rig problem differs from BP spill
[AP] - Unlike the blast that led to the massive BP spill, the latest oil platform fire in the Gulf of Mexico killed no one and sent no crude gushing into the water.
Fed approves sale of Morgan Stanley stock shares
[AP] - The Federal Reserve has approved a request by a Chinese sovereign wealth fund to acquire up to 10 percent of the voting shares of New York investment giant Morgan Stanley.
Stocks end a brutal August with meager gains
[AP] - The stock market ended its worst August since 2001 with meager gains Tuesday after minutes from the latest Federal Reserve meeting showed officials' increasing concern about the economy.
SEC says it lacked authority to charge Moody's
[AP] - The Securities and Exchange Commission has declined to seek fraud charges against Moody's Investors Services over its ratings of risky investments that led to the financial crisis.
Deere sells wind energy business for $900M
[AP] - Energy company Exelon Corp. said Tuesday it will pay $900 million for the wind energy assets of manufacturer Deere & Co., potentially signaling an active merger and acquisition period ahead for the power industry.
Earl could force US evacuations ahead of Labor Day
[AP] - A powerful Hurricane Earl threatened to sideswipe much of the East Coast just ahead of Labor Day, worrying countless vacationers who planned to spend the traditional last week of summer at the beach.
10 bailed-out banks spent $16.3M lobbying in 1H
[AP] - The 10 banks that received the most bailout aid during the financial crisis spent over $16 million on lobbying efforts in the first half of 2010, as the debate over financial regulatory reform reached its height.
Fed officials discussed further stimulus steps
[AP] - Federal Reserve officials signaled at their August meeting that they would consider going beyond a modest program to purchase government debt if necessary to boost the economy.
Large banks earn billions, small banks struggle
[AP] - U.S. banks are making money again, although a split picture of the industry has emerged since the financial crisis. The largest banks are thriving, mostly because they can borrow on the cheap and have rid themselves of bad debt.
Americans' economic confidence ticks up slightly
[AP] - Americans' confidence in the economy improved slightly in August from July, but they're still roughly as gloomy as a year ago.
PC industry's woes could mean bargains this fall (AP)
If you're looking for bargains on personal computers, bad news from the industry could be good for your pocketbook. Computer makers are scrambling for ways to goose faltering consumer demand after a weak start to the back-to-school shopping season.
