Financial news on July 26, 2008

Business and Financial news
British Energy Said to Be Near Sale to French Rival

Electricité de France is close to buying British Energy Group, the country’s largest nuclear power producer, for as much as $24 billion. Read more..

By JULIA WERDIGIER - The New York Times

China Surpasses U.S. in Number of Internet Users

China said the number of Internet users in the country reached about 253 million last month, ahead of the U.S., thanks to a powerful surge in Internet adoption in the last few years. Read more..

By DAVID BARBOZA - The New York Times

Drug Test a Success for Amgen

The biotechnology company reported a successful trial for an experimental osteoporosis drug that reduced the risk of bone fractures in post-menopausal women. Read more..

By ANDREW POLLACK - The New York Times

Flush With Cash, More Asian Tourists Flock to Japan

Once prohibitively expensive, Japan is suddenly drawing soaring numbers of Asian tourists — a sign of big economic changes in one of the world’s most dynamic regions. Read more..

By MARTIN FACKLER - The New York Times

How to Fail in Business, a Guide to Success

Donald R. Keough, a former top executive at the Coca-Cola Company, has turned his speech about how to fail in business — using the example of his own failure with New Coke — into a book. Read more..

By J. ALEX TARQUINIO - The New York Times

In Gas-Powered World, Ethanol Stirs Complaints

A mutiny is growing against energy policies that heavily support and subsidize the blending of ethyl alcohol, or ethanol, into gasoline. Read more..

By KATE GALBRAITH - The New York Times

Loan Giants Face Cuts on Debts

Standard & Poor’s said it might downgrade the subordinated bonds of Fannie Mae and Freddie Mac, surprising investors. Read more..

By BLOOMBERG NEWS - The New York Times

Stocks Higher After Spate of Hopeful Economic Reports

Unexpected increases in consumer confidence and business spending reported on Friday buoyed investors’ spirits after a bumpy week. Read more..

By MICHAEL M. GRYNBAUM - The New York Times

Weight Drives the Young to Adult Pills, Data Says

A growing number of children are taking drugs for a wide range of chronic conditions related to childhood obesity. Read more..

By STEPHANIE SAUL - The New York Times

See what else happened on July 26, 2008