Financial news on August 4th, 2012
Business and Financial news
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..
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..
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..
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..
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..
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..
Paul W McCracken, moderate Republican who served as an economic adviser to both Republican and Democratic presidents, dies at age 96. Read more..
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 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..