Author: FX_Trdr

The official Xinhua News Agency corrected a dispatch that quoted the finance minister as saying growth could be 7 percent this year, in an apparent attempt to defuse market worries on a more severe slowdown. Xinhua’s corrected story clarified that Minister Lou Jiwei, speaking in Washington, said: “There is no doubt that China can achieve this year’s growth target of 7.5 percent”. That amounted to repeating the official target set in March for the world’s second largest economy when the new government took office.

RadioShack Corp. said it is in talks with investment banks on ways to bolster its finances, as the money-losing electronics chain works to remake its image and reverse sliding sales. The 94-year-old company lost $139 million last year and has struggled to keep up as electronics retailing shifted to the Web and consumer tastes changed.

Bank of America Corp rejected allegations that greed and bad faith drove the bank and its workers to push distressed homeowners into foreclosure, rather than help them obtain loan modifications to which they were entitled.

Norman, the French sheep dog that stars in the Hallmark Channel’s ‘Who Let The Dogs Out’ added to his resume by setting the uncertified Guinness World Record of riding a scooter, unassisted, 98.2 feet in 20.75 seconds. (July 12)

For the second time, Hulu has been taken off the sales block. 21st Century Fox, NBCUniversal, The Walt Disney Co. jointly issued press releases announcing they planned to keep ownership and invest $750 million in the streaming site. Bids from DirectTv and AT&T had reportedly neared the $1 billion mark.

NSA leaker Edward Snowden wants to stay in Russia, says a lawmaker who was among several to attend a meeting behind closed doors in the transit zone of Moscow’s Sheremetyevo airport. (July 12)

Billionaire investor Carl Icahn is offering Dell shareholders a chance to own a bigger stake in the company in hopes of thwarting an attempt by Dell’s founder to buy it and take it private.

Billionaire investor Carl Icahn and Southeastern Asset Management Incorporated sweetened their bid for Dell Incorporated by adding warrants they say would increase the value of the offer to a range of $15.50 per share.

Producer prices rose more than expected in June, pointing to an apparent increase in inflationary pressures that could make the U.S. Federal Reserve more comfortable about reducing its monetary stimulus.

JPMorgan Chase reported a 31% rise in quarterly profit as trading revenue rebounded and the biggest U.S. bank by assets avoided another ‘London Whale’ derivatives loss.