Reuters - General Motors Corp investors
expect the No. 1 U.S. automaker to post a steep second-quarter
loss on Friday, reflecting the pressure from a deepening
downturn in the U.S. auto industry.

Reuters - Exxon Mobil Corp broke
its own record for the highest-ever quarterly profit for a U.S.
company on Thursday, but it was lower than Wall Street expected
largely due to lost output from Venezuela and Nigeria and lower
yields from some oil fields.

Reuters - Banks borrowed a record amount of
funds from the Federal Reserve in the latest week as the year
old credit crisis took a persistent toll, while the commercial
paper market continued to contract, signaling tough conditions
for short term borrowers.

Reuters - Former Federal Reserve Chairman Alan
Greenspan said on Thursday that a slowing global economy may
push the United States into recession, though it is not yet in
one.

Reuters - Stocks fell on Thursday, led by Exxon
Mobil after its earnings fell short of Wall Street’s
expectations and as disappointing economic data revived fears
of a U.S. recession.

Reuters - Fidelity Investments’ flagship Magellan
stock fund significantly boosted its holdings in June of
insurer American International Group and U.S.
investment bank Goldman Sachs , in a big reshuffle of its
financial sector exposure.

Reuters - An emergency dose of government
stimulus helped the economy grow at a 1.9 percent annual rate
in the second quarter, a soft pace but enough to take it off a
path perilously close to recession.

AP - Office supply retailers felt no relief from the pinch of weaker spending by consumers and small businesses, with both Office Depot and OfficeMax citing the struggling economy as they reported losses for the second quarter.

AP - Pax World Management Corp. has agreed to pay a $500,000 fine because it failed to follow its own socially responsible investing criteria over a five-year period, when two of its mutual funds invested in off-limits industries such as gambling and liquor, and oil and gas exploration.

AFP - The European Commission proposed new measures Thursday for supervising credit rating agencies, which have been blamed for contributing to world financial turmoil.