Financial news on October 16th, 2010

Business and Financial news
A Dip in Profit and Soft Industrial Sales at G.E. Send Its Shares Down

G.E. said profit from continuing operations rose 29 percent, to $3.16 billion. And earnings per share increased 32 percent, to 29 cents a share, beating expectations. Read more..

By STEVE LOHR - The New York Times

Avoid Foreclosure Market Until the Dust Settles

There are certainly good deals in the market, but the pitfalls are many. Read more..

By RON LIEBER - The New York Times

Biotech Company Gains on Prostate Cancer Trial

Molecular Insight Pharmaceuticals, a biotechnology development company, reported positive results from a clinical trial of a treatment that detects prostate cancer, setting off a 65 percent gain in its share price. Read more..

By NYT - The New York Times

Capturing the Facebook Obsession

The movie “The Social Network” succeeds, in part, by showing the selfishness and arrogance often displayed by young entrepreneurs. Read more..

By JOE NOCERA - The New York Times

Inflation Looks Tame, and Shoppers Take Heart

The U.S. economy continued to show little sign of inflation as consumer prices eased marginally in September, a government report said. Read more..

By CHRISTINE HAUSER - The New York Times

In Mumbai, Adviser to Obama Extols India’s Economic Model

Lawrence H. Summers, one of President Obama’s economic advisers, praised India’s people-centric economic system in a speech in Mumbai on Friday. Read more..

By VIKAS BAJAJ - The New York Times

Many Germans Opt Out of Google’s Street View

Google said it would launch its mapping service in Germany despite thousands of requests from citizens asking the company to delete their properties. Read more..

By KEVIN J. O'BRIEN - International Herald Tribune

Scrutinizing the Elite, Whether They Like It or Not

Scholars gathered at Columbia University to focus on the elite in American society and their relationship to the non-elite. Read more..

By PAUL SULLIVAN - The New York Times

Suspended Executive Resigns at Tribune

Lee Abrams, the company’s chief innovation officer, had been suspended earlier for sending an “inappropriate” companywide memo. Read more..

By THE NEW YORK TIMES - The New York Times

World Trade, Once Rising, Is Starting to Sag Again

Exports of many countries, even China, appear to be stagnant after initially rising briskly after the financial crisis. The United States has fared better than some. Read more..

By FLOYD NORRIS - The New York Times

See what else happened on October 16th, 2010