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Business and Financial News Highlights 7-25-07
Here are some business news highlights from around the web.
Dow closes above 14,000 for first time thanks to some strong earnings reports.
S&P 500 closes at new record high of 1,552.50.
Weak Dollar -> Dollar falls to 26-year low against pound sterling.
High iPhone expectations. Some bullish analysts expect sales of 5 million units in iPhone's first year.
Largest Canadian deal ever: Canadian telecom BCE Inc. sells for nearly $49 billion.
Slow Growth: Economy grew only 0.7 percent in the first quarter.
Sales of existing homes fell in May to the lowest level in four years.
Financial Times says Rupert Murdoch is searching for more internet acquisitions.
Study finds 70% of Americans believe economy is getting worse.
Yahoo Inc. Chairman Terry Semel has stepped down as CEO of Yahoo. Yahoo co-founder Jerry Yang named CEO.
Mortgage foreclosures soar to new record. California, Florida, Nevada and Arizona hardest hit states.
Dow sale a possibility now that Bancroft family has agreed to "meet Mr. Murdoch to discuss his bid."
Has U.S. economy dodged a recession? No. Not with unresolved housing, energy price threats remaining.
New home prices surged in April. Biggest gain in 14 years.
The Motley Fool has an article called Dow 5000 but it doesn't argue that the Dow will fall that much.
Economic growth in the 1st Quarter slowed to a crawl. Just 1.3% GDP growth.
Existing home sales plunge 8.4%. Biggest one month drop in home sales in 18 years. NAR blames weather.
Bush administration makes laughable claim that economy has been stronger under Bush administration than the Clinton administration.
New Century Financial, a subprime lender, has filed for Chapter 11 protection. They also fired 3,200 employees. See here, here and here.
Tags: financial-news
| business-news
Posted on 2007-07-25
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