Financial news on August 4th, 2012

Business and Financial news
A Financial Plan for the Truly Fed Up

Ron Lieber Your Money column offers several investment options for those who have grown wary of the stock market following a long series of scandals and debacles. Read more..

By RON LIEBER - The New York Times

Berkshire’s Results Are Mixed in Quarter

Berkshire Hathaway reports second-quarter net income of $3.1 billion, down from $3.4 billion in the same period a year earlier, citing bigger paper losses on derivatives the company sold. Read more..


Electronic Arts Accuses Zynga of Copying Game Traits

Video game publisher Electronic Arts sues Zynga, accusing the social gaming company of copying crucial elements of its Sims Social game for Zynga’s own title, The Ville. Read more..

By REUTERS - The New York Times

Germany’s Jobless Numbers Buck Euro Zone Trend

Floyd Norris Off The Charts column analyzes a Eurostat report on Germany's unemployment rate, which fell to 5.1 percent in June even as such rates rose across the rest of Europe; notes that in Germany, as in America, unemployment remains much higher among workers 25 and under, but rate is still much lower than other European nations for that age. Read more..

By FLOYD NORRIS - The New York Times

Growth in Services Sector Rises, but a Gauge of Jobs Shrinks

Report by the Institute for Supply Management finds that the service sector of the nation's economy edged up in July as new orders gained, even as sector employment fell to its lowest level in nearly a year. Read more..

By REUTERS - The New York Times

Marcus Samuelsson’s Expanding Empire

Marcus Samuelsson has a solid gold hit in his restaurant, Red Rooster Harlem. The venue, however, is just one of a smorgasbord of developing ventures that the chef hopes will help to grow his brand. Read more..

Channon Hodge, Adrienne Carter and David Gillen - The New York Times

Paul W. McCracken, Adviser to Presidents, Dies at 96

Paul W McCracken, moderate Republican who served as an economic adviser to both Republican and Democratic presidents, dies at age 96. Read more..

By SEWELL CHAN - The New York Times

Procter & Gamble’s Quarterly Profits Rise on Sale of Snack Unit

Procter & Gamble reports that its net income rose to $3.63 billion in its fourth fiscal quarter, up from $2.51 billion in the same period a year earlier; increase was helped by the sale of the company's snacks division. Read more..


Treasury to Cut Stake in A.I.G. to 55% in $5 Billion Share Sale

Treasury Department announces that it expects to raise $5 billion from a sale of shares in the American International Group, cutting the government’s stake in the company to 55 percent. Read more..

By REUTERS - The New York Times

See what else happened on August 4th, 2012