Sunday, July 28, 2013

74-year-old scrapbook returned to well-known, local Chinese family ...

Vallejo resident Jeff Feri, who grew up in Sacramento, presents a vintage family scrapbook to Dr. Herbert Yee. Photo by Lance Armstrong

Vallejo resident Jeff Feri, who grew up in Sacramento, presents a vintage family scrapbook to Dr. Herbert Yee. Photo by Lance Armstrong

South Land Park resident Dr. Herbert Yee, a retired local dentist and the patriarch of a well-known Sacramento Chinese family, and his wife, Inez, had an unexpected and pleasant surprise last week.
After being called to a special meeting arranged by this publication, Vallejo resident Jeff Feri drove about 60 miles to meet the Yees and explain why he was the central part of the gathering, which was held at the South Land Park Chinese restaurant, Macau Caf?.
While directing his attention toward Herbert and Inez, Jeff, who was accompanied by his 19-year-old son, Jordan, said, ?I live in Vallejo and there?s this old homeless guy, Al, that comes around. He?ll try to sell me an old bicycle part or something. I get off work and I usually give him the aluminum cans from my car or whatever. So, I usually look at the stuff that he has, and on this particular day he had this scrapbook. I just looked at it and it had (Yee family related) newspaper clippings from 1939 from The Sacramento Union, (a newspaper), which we all know doesn?t exist anymore. So, I said, ?If you don?t mind me having it, I would like to look into it.? I looked online and saw the report that (The Land Park News) did on (Herbert) and I figured maybe Dr. Yee (and his family) would like to have this (scrapbook).?
After contacting this publication, Jeff described the scrapbook and how he acquired it.
Unfortunately, Jeff, who spent his entire life residing in Sacramento before moving to Vallejo four years ago, said that Al had no recollection of how the book came to be in his possession.

Dr. Henry Yee, a notable herbal doctor and chiropractor in Sacramento, was among the leaders in the Chinese and American communities. Photo courtesy of the Yee family

Dr. Henry Yee, a notable herbal doctor and chiropractor in Sacramento, was among the leaders in the Chinese and American communities. Photo courtesy of the Yee family

The paper covers of the 9-inch by 12-inch, spiral-bound scrapbook features a printed artistic representation of a Dutch countryside, which unsurprisingly includes an image of a windmill as its focal point.
Inside the book are 70 yellowed pages, the earliest of which contain the majority of the newspaper clippings.
Most of these writings were printed in English, while others were cut out of Chinese newspapers.
Nearly all of the clippings, which were affixed to pages of the book with glue, are from 1939, and the latest dated clippings were added to the book in 1965.
A letter-sized page of lined paper with handwritten Chinese writings is tucked away between pages of the book.
After observing the page, Herbert, 89, said that these writings were most likely written by his father, Dr. Henry Way Yee, or his mother, Hum We Fong Yee.
The hand-written writings, Herbert added, feature information pertaining to the Sacramento chapter of the Yee Fung Toy Family Association.
Included on one page of the book are birth announcements from The Union that include news of the birth of Herbert?s sister, Carol, at the Sutter Maternity Hospital ? today?s Sutter Memorial Hospital.
Herbert especially enjoyed that the scrapbook was mainly dedicated to his father?s writings, which were published as advertisements for his business, Dr. Henry Yee Herb Co., at 707 J St.
The articles feature themes related to such topics as longevity, healthy eating practices, rheumatism and, of course, Chinese herbs.
The book also includes an advertisement inviting people to undergo $1 ?complete examinations? at Henry?s office. The examination included the use of an X-ray fluoroscope and ?the wonderful, new hemovitameter.?
The latter, 4-foot-tall, 3-foot-wide instrument was claimed to serve the purpose of ?detecting the presence of infections, toxins and disease in the human body.?
Henry was a descendent of the more than 1,000-year-old Yee family of China.
His grandfather, Yee Fung Cheung, was perhaps the first Chinese herbal doctor to come to the United States. In 1851, he established his practice in Amador County?s Fiddletown, which was then the largest Chinatown in the state outside of San Francisco.
Yee Fung Cheung, who also practiced in Sacramento and Virginia City, Nev., was the father of Dr. T. Wah Hing, a Sacramento physician and surgeon whose true name was Yee Lock Sam.
Dr. T. arrived in Sacramento with Henry Yee in 1906, and about a decade later, Henry graduated from Sacramento High School.
Henry later attended Stanford University and the University of California, Berkeley.
He continued his education at the University of Michigan, where he earned bachelor?s degree in civil engineering in 1921 and a master?s degree in the same subject in 1923.
During the same year, Henry, after working for the Michigan highways department, returned to China.
And while once again in his native country, Henry served as chief engineer of railroads and highways in the Canton area from 1924 to 1926 and chief of public works in Swatow from 1926 to 1929.
Henry returned to America in 1929 with his son, Paul. He eventually earned sufficient money to pay for Paul to bring the rest of the family to the United States.
Henry was among the leaders in the Chinese and American communities.
Among his many roles were his service as the two-time grand president of the Yee Fung Toy Family Association, seven-term vice president of the Chinese Benevolent Association, director of the Chinese Language School of Sacramento, vice president of the Bing Kong Tong Association of Sacramento, chairman of the board of Yee Investments, Inc., charter member of the Chinese Lions Club and chairman of the board of the Chinese Methodist Church.
Additionally, Henry was active in the efforts to build the Confucius Temple and community center at 4th and I streets.
He also founded Big Town Market in 1940. The market, which was located at 2210 16th Street, was one of the city?s first Chinese supermarkets.
In describing how much his father meant to him, Herbert said that ever since his father passed away at the age of 84 on June 8, 1979, he has carried a photograph of him in his wallet and worn a jade ring that belonged to him.
Herbert said that the presentation of the scrapbook was a very interesting and joyous experience for him.
?Number one, I was interested in where (Jeff) found it,? Herbert said. ?My sister (May Yee Chinn) used to live in Vallejo, so it may have formerly been in her possession. (The book) brings back pleasant memories of our father and mother. We get busy in life and then when something like this happens, we think about (special memories) more.?
Following his meeting with Herbert and Inez, Jeff, who graduated from Johnson High School in 1990, said that he was very pleased to have had the opportunity to present the scrapbook to the Yee family.
?I was just trying to do something good,? Jeff said. ?I did it because I would want the same thing done if the roles were reversed. It just so happens that (Herbert) is a very prominent member of the community, but I would have given the book to a janitor. And because (Herbert) appreciated (the book), it made me feel better about going out of my way to get that to him.?

Source: http://www.valcomnews.com/?p=11499

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Wall St Week Ahead: Stocks face the Fed, jobs and earnings

By Caroline Valetkevitch

NEW YORK (Reuters) - The coming week on Wall Street could be a summer blockbuster, with the marquee featuring a triple bill: the Fed, jobs and earnings.

Of the three, the Federal Reserve has the most potential to upset the market. The Federal Open Market Committee is expected to release a statement on Wednesday after a two-day meeting.

Fed Chairman Ben Bernanke jolted markets in late May by saying the U.S. central bank planned to ease back on its stimulus efforts once the economy improves. Investors have been glued to his every comment since then.

"The Fed can easily either scare investors or encourage investors without having to say very much," said Bryant Evans, portfolio manager at Cozad Asset Management in Champaign, Illinois.

It "tends to create the biggest knee-jerk reactions out of the market."

As part of its quantitative easing policy, the Fed has been buying Treasury debt and other bonds each month to keep interest rates low and promote growth.

Stocks have rallied for most of this year, with both the Dow and the Standard & Poor's 500 hitting record highs, partly because of the Fed's stimulus efforts.

The market slid after Bernanke's comments on May 22, with the S&P 500 dropping nearly 6 percent in the month that followed.

But remarks from Bernanke and other Fed officials since then have calmed the market and erased those declines.

Bernanke reassured markets last week, saying the timeline for winding down the U.S. central bank's stimulus program was not set in stone.

The S&P 500 is up 18.6 percent for the year so far.

Trading has been more subdued this week, with more focus on earnings. The S&P 500 ended the week with just a slight loss of 0.03 percent, breaking its four-week winning streak.

While some analysts said the CBOE Volatility Index did not appear to be pricing in a lot of volatility for next week, there could still be a shift in sentiment. On Friday, the VIX fell 1.9 percent to end at 12.72.

"I do expect to see an increase in volatility next week, but that increase is coming after a week of very quiet trading," said WhatsTrading.com options strategist Frederic Ruffy in Chicago.

Some market attention has also shifted to speculation over possible successors to Bernanke, though a senior White House official said on Friday that no announcement is imminent. President Barack Obama has signaled that Bernanke is likely to step down when his second four-year term as Fed chairman ends January 31. Former U.S. Treasury Secretary Lawrence Summers and current Fed Vice Chair Janet Yellen are among names cited.

IT'S ALL ABOUT JOBS

Friday will bring the Labor Department's July employment report.

The job market's recovery is seen as key to the future of Fed policy. The Fed has said it will keep interest rates at historic lows, where they've been for more than four years, until the U.S. unemployment rate drops to 6.5 percent.

Employers are expected to have added 185,000 jobs to their payrolls in June, according to economists polled by Reuters. That's slightly below June's count of 195,000 new positions.

The U.S. unemployment rate is expected to dip to 7.5 percent in July from 7.6 percent in June.

"July historically has been all over the place, in terms of employment. Factories often times do shutdowns in July, and there's turnover in agriculture," Evans said.

Analysts have worried that big gains in jobs numbers could prompt an early end to the Fed's bond buying, but stocks rose sharply earlier this month when June's payrolls far exceeded expectations.

While the jobs report is expected to be the biggest piece of economic news next week, the economic calendar includes data on gross domestic product and the Chicago Fed Midwest Manufacturing Index for June. The Institute for Supply Management's U.S. manufacturing index for July and monthly car sales will also be part of the mix.

EARNINGS SEASON'S SECOND HALF

With results already in from 259 of the S&P 500, the season has entered its second half.

But next week will still be one of the heaviest of the season, with 131 names from a wide range of industries due to report, including Time Warner Cable , Chevron , Coach , U.S. Steel and Allstate .

Stronger-than-expected results since the start of the season have pushed up the growth estimate for the quarter. Second-quarter earnings are now expected to have increased 4.1 percent, up from an estimate of 2.8 percent a week ago, Thomson Reuters data showed.

Revenue growth, at 1.6 percent as of Friday, has not been strong, but 56 percent of companies so far are beating expectations, above the 48 percent average of the last four quarters.

We are at all-time highs in a lot of these names, and I think this earnings season is supporting that," said Natalie Trunow, chief investment officer of equities at Calvert Investment Management, which has about $13 billion in assets.

But she said that also means the market may be "vulnerable to some profit-taking."

(Wall St Week Ahead runs every Friday. Questions or comments on this column can be emailed to: caroline.valetkevitch(at)thomsonreuters.com) (Reporting by Caroline Valetkevitch; Additional reporting by Doris Frankel; Editing by Jan Paschal)

Source: http://news.yahoo.com/wall-st-week-ahead-stocks-face-fed-jobs-064742922.html

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Saturday, July 27, 2013

Pope's vigorous pace in Brazil leaves his staff 'destroyed'

Pope Francis's visit to Brazil reveals the pope's tremendous vigor and energy. In his first international trip as pope, he is running his staff ragged, even adding last-minute events to his packed schedule.

By Associated Press / July 26, 2013

Brazil's President Dilma Rousseff and Pope Francis visit upon his arrival at the international airport in Rio de Janeiro, Brazil, Monday, July 22, in his first international trip as pope. Pope Francis returned to his native South America to preside over the Roman Catholic Church's World Youth Day festival.

Jorge Saenz/AP

Enlarge

Pope Francis' killer pace is wearing out his aides.

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The 76-year-old Argentine Jesuit, who lost most of one lung following an infection in his youth, has been acting like a man half his age during his first international trip as pope, adding in events at the last minute to his already full schedule and gamely going with the flow after heavy rains forced major changes in the World Youth Day agenda.

His spokesman, the Rev. Federico Lombardi, noted Thursday that such vigorous activity has been the norm at the Vatican ever since Francis came to town, saying the Vatican's usually staid bureaucrats were getting "stressed out" by his pace ? and that that was a good thing.

But he quipped: "I'm happy we're halfway through because if it were any longer I'd be destroyed."

Francis added two unscheduled events Thursday to an already full day: a morning Mass with some 300 seminarians from the region, and then a meeting at Rio's cathedral with some 30,000 Argentine pilgrims.

Asked when Francis would actually return to his home country, Lombardi revealed that there were no plans for a trip to Argentina in 2014 as had been widely expected.

Rather, he said, the pope planned to visit another continent given he had already been to Brazil in 2013 and, as he announced somewhat unexpectedly on Wednesday, would be returning in 2017 to mark the 300th anniversary of the discovery of the statue of the Virgin of Aparecida, Brazil's patron saint.

Lombardi didn't say which continent might get a papal visit in 2014, but mentioned Africa, Asia or the Holy Land as possibilities.

Source: http://rss.csmonitor.com/~r/feeds/csm/~3/ukG3cJCX36g/Pope-s-vigorous-pace-in-Brazil-leaves-his-staff-destroyed

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Why Do Black Lawyers Defend Accused Racists?

Channa Lloyd looks up at a screen displaying evidence during a recess during the George Zimmerman trial in Seminole circuit court, July 3, 2013 in Sanford, Florida. Intern Channa Lloyd during the George Zimmerman trial on July 3, 2013 in Sanford, Fla.

Photo by Pool/Getty Images

Next week, black attorneys will gather in Miami, Fla. for the 88th Annual National Bar Association Conference, where Trayvon Martin?s mother, Sabrina Fulton, and her attorney, Benjamin Crump, are scheduled to appear at a candlelight vigil. Also attending is Channa Lloyd, the black intern who volunteered for George Zimmerman?s legal team.

Shortly after Zimmerman was acquitted of murdering Martin, CNN aired an interview with Lloyd, who is a law student at Barry University. Asked if she thought Zimmerman was a racist, Lloyd said no, and implied that she?d have a difficult time working for a client who was. This speaks to her naivet?. The job of a defense attorney isn?t to assess a client?s prejudices (or guilt). It is to defend her client. That goes for clients accused of racism, too.

Cherry-picking who is worthy of representation is a dicey proposition for any attorney, let alone a black one. Some of the country?s most revered black attorneys are believed to have represented persons guilty of abominable crimes, yet the black community has supported them. For example, Billy Martin, who came to national prominence as Monica Lewinsky?s attorney and now serves as president of Washington, D.C.?s black bar association, represented NFL quarterback Michael Vick, who went to prison for dog-fighting charges, and former NBA star Jayson Williams, who pled guilty to manslaughter in the shooting death of his limousine driver. We should give the same support to those defending accused racists.

Paula Deen, who lost TV and book deals after her history of using racial slurs and revering the antebellum South was revealed, has hired Grace Speights, a partner at Morgan, Lewis & Bockius. Speights, who has been featured in Black Enterprise Magazine, is one of the nation's best-known?black female labor and employment defense attorneys. Another is Michele Roberts, who was depicted in the book The Good Black in her role as lead defense counsel for a law firm sued for racial discrimination by a black Harvard Law graduate. Ten years later, Roberts again successfully defended a law firm against charges of race discrimination?in a case that I brought.

In 2009, I filed a lawsuit alleging discrimination and retaliation against my former law firm, Covington & Burling. Roberts represented Covington. During the three-year ordeal, which included weeks of grueling depositions, more than one black attorney expressed to me disappointment in Roberts for taking the case. I knew it wasn?t that simple. Roberts had begun her career in the D.C. Public Defender?s office under the influence of Harvard Law civil rights professor Charles Ogletree Jr. She later joined him to work with law professor Anita Hill during Justice Clarence Thomas? confirmation hearings.

Roberts currently sits on the board of Gideon?s Promise, an organization exalted in the HBO documentary, Gideon?s Army, which follows three public defenders as they work to defend those who can?t afford legal representation. In the documentary, black public defender Brandy Alexander, confesses that she knows most of her clients are guilty of the crimes for which they face prosecution. Why should it be noble to defend a murderer who was motivated by crime, anger, or no good reason, but treasonous to defend those motivated by racism?

It is doubtful that workplace discrimination or racially charged crimes would end if black people stopped defending those accused. The only likely outcome would be even fewer black attorneys working in large law firms, where it?s quite common for them to head labor and employment practices.

Perhaps there would be more sympathy for Channa Lloyd if it were clear what she?s up against. According to employment figures released by the American Bar Association for the law school class of 2012 , only 55.1 percent of 2012 law school graduates are working in full-time, long-term lawyer jobs not funded by their schools. There are no separate stats for black graduates, but they?re likely worse. Lloyd has an added barrier to employment as a graduate of Barry, which is in the bottom tier of the U.S. News & World Report rankings. According to the American Bar Association, only 52 percent of 2012 graduates from her school, had full-time jobs requiring a legal license. Twenty-nine percent were unemployed or of unknown status. Barry?s tuition, meanwhile, is $34,300 a year. Considering her likely law school debt, Lloyd?s decision to volunteer for Zimmerman?s defense attorneys is not only understandable, it?s downright inspired. Lloyd is right to do anything short of murder to increase her chances of getting a job in the law.

Source: http://www.slate.com/articles/news_and_politics/jurisprudence/2013/07/why_do_black_lawyers_defend_accused_racists.html

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Minecraft (version 1.6)


Minecraft is your blocky, beautiful sandbox, to build in and play with as you please. The core of the game is exploring and surviving in a hostile world made from building-blocks that you can build with as you please. But as you play, you'll quickly see that this game has so much more to offer than just architecture.

The Minecraft Way
As a player, your only advantage over a hostile landscape is the ability to build, so if you don't want to die, you need shelter (and a food source). If you want shelter, you need to gather materials. If you want to gather materials faster, you need to craft tools. If you don't want to cower in a dark hole all night (eight minutes of real time) then you better build a nicer house.

The underlying rule of Minecraft is that you have to work for everything. Even figuring out the specific crafting recipes will require some effort. You can try to figure these out on your own, but the Minecraft Wiki is an invaluable source that will connect you to everything that can be done in the game along with the huge, active community of players.

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The real fun of Minecraft is that it's flexible enough for players to enjoy on their own terms. You can focus on monster slaying, farming and animal husbandry, magic and enchantments, or astounding electro-mechanical contraptions using redstone?the in-game surrogate for electricity. A normal game is usually a mix of everything.

Minecraft even offers two modes of play. Survival Mode more is geared towards dodging enemies and building while exploring the surprisingly beautiful landscape while Creative Mode offers a pallet of every block and item in the game so you can easily construc enormous architectural triumphs or massive redstone computers.

Minecraft is also flexible in its hardware requirements. The developers say it requires at minimum 1GB of RAM, a dedicated video card (preferably nVidia GeForce 6xxx Series or ATI Radeon 9xxx Series), a 1.8GHZ CPU, and the latest 64-bit installation of Java. The game runs on Windows, Mac OS X, and Linux, with updates released simultaneously for all three. I used a Windows 8 machine and a Mac Mini in my testing. There are also versions of the game for Android, iOS, and XBox 360. The game looks excellent on high-end machines, but will perform adequately on even modestly powered laptops.

An Ever Changing, Infinite Game
Swedish developer Mojang avoided the bloated, years-long development cycle and sky-high prices of major game releases by selling copies of Minecraft long before it was "finished." New features continue to come out at a fairly regular pace. The game was recently updated to 1.6, bringing with it an exciting new feature: horses.

Players can now find and tame blocky horses (and donkeys) for riding and use as pack animals. The increased mobility is quite welcome in Minecraft, as the monsters will become more difficult the longer you spend in a particular area. Horses can be ridden with the addition of a saddle, and can also be protected with specially-crafted horse armor. Donkeys can be outfitted with chests for an additional 15 inventory slots, opening the door for in-game caravans of goods. Watch out when crossing water with these steeds, however; you'll automatically dismount in deep oceans or lakes.

Minecraft

Along with horses are "leads," which let you snag any animal from a distance and secure it to a fence post?a feature in-game farmers are sure to love. Also for animal lovers are nametags, which let you assign a specific name to an animal. Interestingly, these require experience points to create, increasing the places for players to spend their hard-earned XP.

The new update was not without its quirks, however. Boats now use the same controls as horses, which makes the already awkward watercraft all the more ungainly.

1.6 also introduced a new game launcher, with which you can assign different versions of the game to different profiles. This means you can enjoy all the latest features, but still easily move back a version if your favorite multiplayer server requires it. The new launcher will someday make modding the game much easier, but for now adding mods is still too complicated for all but the most dedicated player.

Source: http://feedproxy.google.com/~r/ziffdavis/pcmag/~3/VFClXWgDeL4/0,2817,2416810,00.asp

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Thursday, July 25, 2013

Analysis: Wall Street's commodities trading under fire, rivals creep in

By Jeanine Prezioso

NEW YORK (Reuters) - Just as Wall Street's commodity titans face intensifying pressure over their trading operations, nimble rivals are stepping up efforts to chip away at their bedrock business of financing the world's raw materials industry.

Minutes before senators in Washington began questioning why the biggest U.S. banks were straying so deeply into the murky world of commodities, privately owned merchant trading group Freepoint Commodities announced on Tuesday it had completed its first deal to finance oil and gas output.

The Volumetric Production Payment, a once-popular type of structured deal created by Enron and eagerly adopted by Wall Street, was a timely illustration of how merchants are pushing deeper into traditional banking territory while regulators threaten to make it harder for behemoths like JP Morgan (NYSE:JPM - News) and Goldman Sachs (NYSE:GS - News) to compete in physical markets.

While the merchants, many like Freepoint now backed by private equity and staffed by former bank traders, are unlikely to be able to match the funding rates that the banks provide, the deal served as a reminder of why banks are so determined to maintain the oil traders, power schedulers and metals brokers that allow them to combine deep market insight with low-cost capital.

"The size and complexity of this transaction demonstrate the ability of Freepoint's platform to deliver customized financing solutions to the upstream oil and gas sector," according to Freepoint's head of structured finance Brian Cumming, who worked for Deutsche Bank until last year.

The Senate Banking Committee questioned experts and lawyers about whether commercial banks should control oil pipelines, power plants and metals warehouses, and be able to use such infrastructure to trade commodities.

The hearing came just days after the Federal Reserve shocked the industry by saying it was reviewing a landmark 2003 decision that first allowed commercial banks to trade raw materials.

For banks already coping with new regulations barring proprietary trading and raising capital requirements, the political focus on commodities is an unwelcome reminder that competitors like Freepoint and its Stamford, Connecticut neighbor Castleton Commodities are waiting in the wings.

"We have seen private equity get into the space," said Elizabeth McGinley, a partner in the tax practice at law firm Bracewell & Giuliani in New York, adding that it used to be largely banks who did VPPs.

PHYSICAL TRADE

Banks have long argued that they can offer clients better and cheaper services if they are able to buy or supply the same raw materials that their customers use or produce.

Allowing commercial banks to trade in spot raw material markets "likely would benefit customers" as banks could deal in a "wider variety" of markets and products, the Federal Reserve said in a letter to Citigroup in 2003, when it granted the bank permission to trade in physical markets.

It would also allow the banks to "improve their understanding of commodity derivatives markets and the profitability of their existing" businesses.

Freepoint's VPP deal, which gives the buyer access to physical supplies without the risk entailed in producing the oil or gas, will allow it to purchase a set amount of oil and gas from private producer Elm Ridge Exploration Co LLC, with the volumes to be delivered over an 11-year period.

The production will come from a pool of nearly 1,000 wells in the San Juan producing basin in New Mexico and Colorado. Elm Ridge produced and sold some 2.7 billion cubic feet of gas this year through May, according to data from the Colorado Oil and Gas Conservation Commission.

Enron had pioneered the deals because "not only did they look at it as a financing tool they realized they could make money on the production," said Jeff Munoz, a partner in the oil and gas mergers & acquisitions practice at law firm Latham & Watkins in Houston.

VPP deals gained notoriety in recent years after banks including Goldman Sachs, Deutsche Bank and Barclays put up billions of dollars to fund the expansion of oil and gas production of companies like Chesapeake Energy (NYSE:CHK - News).

TRADER SHOCK

Since the financial crisis, rivals have been predicting banks' retreat from the commodities markets, a high-margin business increasingly seen as non-core for many. A number of banks have cut back significantly and some have exited. Total commodity revenue for the 10 top banks fell to around $6 billion last year, one-third of its peak in 2008 and 2009.

Started in 2011 by former RBS Sempra Commodities executives, Freepoint has been built largely on a bet that retreating banks would leave behind business for merchants. Last month Freepoint closed a financing for a coal company. In March it completed the purchase of natural gas wells from a Canadian company.

It has been in hiring mode, most recently looking to add originators in oil, to market the production of smaller oil companies, according to a commodity industry recruiter who did not want to be identified because of ties to the industry. Freepoint officials were not immediately available to comment.

Private equity firm Riverstone Holdings LLC is also said to be growing a $1 billion commodities business led by Deutsche Bank former head of commodities David Silbert.

But the opportunity to take financing business away from Wall Street appeared to expand significantly over the past few weeks, with growing public awareness and political pressure over multibillion-dollar commodity businesses long out of the public eye.

The Fed's surprise statement last Friday offered the hope of an even wider opening, if it decides to row back the decade-old decision that commercial banks can trade raw materials.

"I was completely shocked by that," said one senior executive with a trading merchant. "We've anticipated and expected their business to come under pressure around the Dodd-Frank regulations, swap dealer rules, maybe even ownership of hard assets like power plants. Those things we expected."

The Fed review "takes it to a whole other level."

COME ON OVER TO THE UNREGULATED SIDE

Both the physical and financial commodity trading business is falling into the hands of unregulated commodities trading merchants, the likes of Glencore (LSE:GLEN.L - News), Vitol (:VITOLV.UL), Mercuria and Trafigura (:TRAFGF.UL), all based in Switzerland, who have their fingers on every point of the commodity value chain.

Those trading houses are largely unregulated and unfettered by government restrictions that have all but sunk commodities businesses at banks that took decades to build.

"They are driving the people who know the space very well within the banking community out of the industry and out of the regulated environment and they are really holding out a carrot and saying, 'Come over to the deregulated side,' because there won't be the same scrutiny of their activities," said one executive at an Australian bank.

(Reporting by Jeanine Prezioso; Editing by Phil Berlowitz)

Source: http://news.yahoo.com/analysis-wall-streets-commodities-trading-041651904.html

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Earnings News Headlines - Yahoo! News

Earnings News Headlines - Yahoo! Newshttp://news.yahoo.com/earnings/ Get the latest earnings news headlines from Yahoo! News. Find breaking earnings news, including analysis and opinion on top earnings stories, photos and more.en-USCopyright (c) 2013 Yahoo! Inc. All rights reservedThu, 25 Jul 2013 02:52:09 -04005Earnings News Headlines - Yahoo! Newshttp://news.yahoo.com/earnings/ http://l.yimg.com/a/i/us/nws/th/main_142c.gifBASF Q2 profit dips amid patchy global economyFRANKFURT, Germany (AP) ? Chemicals and oil company BASF SE warned Thursday that it will find it more difficult to achieve its full-year profit target as it reported a 4.2 percent fall in second-quarter earnings due to weaker demand in an uneven global economy.http://news.yahoo.com/basf-q2-profit-dips-amid-patchy-global-economy-065209508.htmlThu, 25 Jul 2013 02:52:09 -0400Associated Pressbasf-q2-profit-dips-amid-patchy-global-economy-065209508Statoil sees Q2 earnings sink on weak oil pricesOSLO, Norway (AP) ? Lower oil and gas prices weighed heavily on second-quarter earnings at Norway's Statoil, even though production levels were more or less unchanged.http://news.yahoo.com/statoil-sees-q2-earnings-sink-weak-oil-prices-064120924.htmlThu, 25 Jul 2013 02:41:20 -0400Associated Pressstatoil-sees-q2-earnings-sink-weak-oil-prices-064120924Restructuring costs hit Michelin's HI profits hardPARIS (AP) ? Tire maker Michelin SA says its first-half profits slumped 45 percent as restructuring costs weighed on earnings amid flat demand in key markets.http://news.yahoo.com/restructuring-costs-hit-michelins-hi-profits-hard-064120328.htmlThu, 25 Jul 2013 02:41:20 -0400Associated Pressrestructuring-costs-hit-michelins-hi-profits-hard-064120328Asian stocks retreat from 7-wk highs, earnings in focus<p><a href="http://news.yahoo.com/asian-stocks-retreat-7-wk-highs-earnings-focus-042043537.html"><img src="http://l3.yimg.com/bt/api/res/1.2/nWxRDNTPSXd_9Y3OusYNKg--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-07-25T061402Z_2_CBRE96O0C4W00_RTROPTP_2_MARKETS-JAPAN.JPG" width="130" height="86" alt="A woman wearing a kimono walks past an electronic stock quotation board outside a brokerage in Tokyo" align="left" title="A woman wearing a kimono walks past an electronic stock quotation board outside a brokerage in Tokyo" border="0" /></a>By Ian Chua SYDNEY (Reuters) - Asian stocks slipped from seven-week highs on Thursday after Wall Street buckled under profit-taking pressure and as investors retreated to the sidelines with the earnings season heating up. But a dearth of market-moving news saw the dollar struggle to extend gains after snapping a three-day slide, while gold found a tentative footing following a 2 percent fall. MSCI&#039;s broadest index of Asia-Pacific shares outside Japan eased 0.3 percent, having posted a seven-week closing high just a day earlier. Tokyo&#039;s Nikkei closed 1.1 percent lower at 14,562. ...</p><br clear="all"/>http://news.yahoo.com/asian-stocks-retreat-7-wk-highs-earnings-focus-042043537.htmlThu, 25 Jul 2013 02:14:02 -0400Reutersasian-stocks-retreat-7-wk-highs-earnings-focus-042043537<p><a href="http://news.yahoo.com/asian-stocks-retreat-7-wk-highs-earnings-focus-042043537.html"><img src="http://l3.yimg.com/bt/api/res/1.2/nWxRDNTPSXd_9Y3OusYNKg--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-07-25T061402Z_2_CBRE96O0C4W00_RTROPTP_2_MARKETS-JAPAN.JPG" width="130" height="86" alt="A woman wearing a kimono walks past an electronic stock quotation board outside a brokerage in Tokyo" align="left" title="A woman wearing a kimono walks past an electronic stock quotation board outside a brokerage in Tokyo" border="0" /></a>By Ian Chua SYDNEY (Reuters) - Asian stocks slipped from seven-week highs on Thursday after Wall Street buckled under profit-taking pressure and as investors retreated to the sidelines with the earnings season heating up. But a dearth of market-moving news saw the dollar struggle to extend gains after snapping a three-day slide, while gold found a tentative footing following a 2 percent fall. MSCI&#039;s broadest index of Asia-Pacific shares outside Japan eased 0.3 percent, having posted a seven-week closing high just a day earlier. Tokyo&#039;s Nikkei closed 1.1 percent lower at 14,562. ...</p><br clear="all"/>No quick fix as Anglo's new boss prepares to woo investors<p><a href="http://news.yahoo.com/no-quick-fix-anglos-boss-prepares-woo-investors-055707618.html"><img src="http://l3.yimg.com/bt/api/res/1.2/0riHhJblrkVGo3YoSMPAjg--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_ZA/News/Reuters/2013-07-25T061737Z_1_AJOE96O0HHF00_RTROPTP_2_OZABS-ANGLO-PREVIEW-20130725.JPG" width="130" height="86" alt="(Blank Headline Received)" align="left" title="(Blank Headline Received)" border="0" /></a>By Clara Ferreira-Marques LONDON (Reuters) - Anglo American&#039;s new boss will lay out his stall on Friday after four months in the job and while investors are not counting on a quick fix, they are betting his plans will include cost cuts, more disciplined spending and potential asset sales. Anglo, the smallest of the major diversified miners, has underperformed its peers, most recently battling labour unrest in South Africa, where it generates half its earnings, and multi-billion dollar cost overruns in Brazil. ...</p><br clear="all"/>http://news.yahoo.com/no-quick-fix-anglos-boss-prepares-woo-investors-055707618.htmlThu, 25 Jul 2013 01:57:07 -0400Reutersno-quick-fix-anglos-boss-prepares-woo-investors-055707618<p><a href="http://news.yahoo.com/no-quick-fix-anglos-boss-prepares-woo-investors-055707618.html"><img src="http://l3.yimg.com/bt/api/res/1.2/0riHhJblrkVGo3YoSMPAjg--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_ZA/News/Reuters/2013-07-25T061737Z_1_AJOE96O0HHF00_RTROPTP_2_OZABS-ANGLO-PREVIEW-20130725.JPG" width="130" height="86" alt="(Blank Headline Received)" align="left" title="(Blank Headline Received)" border="0" /></a>By Clara Ferreira-Marques LONDON (Reuters) - Anglo American&#039;s new boss will lay out his stall on Friday after four months in the job and while investors are not counting on a quick fix, they are betting his plans will include cost cuts, more disciplined spending and potential asset sales. Anglo, the smallest of the major diversified miners, has underperformed its peers, most recently battling labour unrest in South Africa, where it generates half its earnings, and multi-billion dollar cost overruns in Brazil. ...</p><br clear="all"/>Analysis: How much is Fed aid to U.S. corporate profits worth?<p><a href="http://news.yahoo.com/analysis-much-fed-aid-u-corporate-profits-worth-051037297.html"><img src="http://l1.yimg.com/bt/api/res/1.2/1Wsr4497Q0_7vHNXOSrW1A--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-07-25T051037Z_1_CBRE96O0EE400_RTROPTP_2_USA-FED-FOMC.JPG" width="130" height="86" alt="A view shows an eagle sculpture on Federal Reserve building in Washington" align="left" title="A view shows an eagle sculpture on Federal Reserve building in Washington" border="0" /></a>By Herbert Lash NEW YORK (Reuters) - Many on Wall Street believe the Federal Reserve&#039;s monetary policy is behind record corporate earnings and the stock market&#039;s surge to all-time highs this year. But how much is a burning issue for investors who wonder how the economy and stocks will perform once the Fed eventually eases its buying of $85 billion a month in bonds and eventually allows short-term rates to climb. Some believe the influence of the Fed&#039;s policy, known as quantitative easing, has been particularly important to the performance of the benchmark Standard &amp; Poor&#039;s 500 Index . ...</p><br clear="all"/>http://news.yahoo.com/analysis-much-fed-aid-u-corporate-profits-worth-051037297.htmlThu, 25 Jul 2013 01:10:37 -0400Reutersanalysis-much-fed-aid-u-corporate-profits-worth-051037297<p><a href="http://news.yahoo.com/analysis-much-fed-aid-u-corporate-profits-worth-051037297.html"><img src="http://l1.yimg.com/bt/api/res/1.2/1Wsr4497Q0_7vHNXOSrW1A--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-07-25T051037Z_1_CBRE96O0EE400_RTROPTP_2_USA-FED-FOMC.JPG" width="130" height="86" alt="A view shows an eagle sculpture on Federal Reserve building in Washington" align="left" title="A view shows an eagle sculpture on Federal Reserve building in Washington" border="0" /></a>By Herbert Lash NEW YORK (Reuters) - Many on Wall Street believe the Federal Reserve&#039;s monetary policy is behind record corporate earnings and the stock market&#039;s surge to all-time highs this year. But how much is a burning issue for investors who wonder how the economy and stocks will perform once the Fed eventually eases its buying of $85 billion a month in bonds and eventually allows short-term rates to climb. Some believe the influence of the Fed&#039;s policy, known as quantitative easing, has been particularly important to the performance of the benchmark Standard &amp; Poor&#039;s 500 Index . ...</p><br clear="all"/>Asian shares little changed ahead of earnings<p><a href="http://news.yahoo.com/asian-shares-little-changed-ahead-earnings-022532216.html"><img src="http://l.yimg.com/bt/api/res/1.2/tPOc_0UxfB_3FjJPN4j8yA--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/ap_webfeeds/008b7980bf2c7418380f6a7067002c8c.jpg" width="130" height="86" alt="A man walks by an electronic stock board of a securities firm in Tokyo, Wednesday, July 24, 2013. Asian stock markets were mostly lower Wednesday after a survey showed Chinese manufacturing activity fell to its lowest point in nearly a year. Japan&#039;s Nikkei 225 fell 0.6 percent to 14,692.83. (AP Photo/Itsuo Inouye)" align="left" title="A man walks by an electronic stock board of a securities firm in Tokyo, Wednesday, July 24, 2013. Asian stock markets were mostly lower Wednesday after a survey showed Chinese manufacturing activity fell to its lowest point in nearly a year. Japan&#039;s Nikkei 225 fell 0.6 percent to 14,692.83. (AP Photo/Itsuo Inouye)" border="0" /></a>TOKYO (AP) ? Asian stocks were little changed in subdued trading Thursday morning amid worries about lagging shares on Wall Street overnight, and ahead of a slew of earnings reports in coming sessions.</p><br clear="all"/>http://news.yahoo.com/asian-shares-little-changed-ahead-earnings-022532216.htmlWed, 24 Jul 2013 22:26:21 -0400Associated Pressasian-shares-little-changed-ahead-earnings-022532216<p><a href="http://news.yahoo.com/asian-shares-little-changed-ahead-earnings-022532216.html"><img src="http://l.yimg.com/bt/api/res/1.2/tPOc_0UxfB_3FjJPN4j8yA--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/ap_webfeeds/008b7980bf2c7418380f6a7067002c8c.jpg" width="130" height="86" alt="A man walks by an electronic stock board of a securities firm in Tokyo, Wednesday, July 24, 2013. Asian stock markets were mostly lower Wednesday after a survey showed Chinese manufacturing activity fell to its lowest point in nearly a year. Japan&#039;s Nikkei 225 fell 0.6 percent to 14,692.83. (AP Photo/Itsuo Inouye)" align="left" title="A man walks by an electronic stock board of a securities firm in Tokyo, Wednesday, July 24, 2013. Asian stock markets were mostly lower Wednesday after a survey showed Chinese manufacturing activity fell to its lowest point in nearly a year. Japan&#039;s Nikkei 225 fell 0.6 percent to 14,692.83. (AP Photo/Itsuo Inouye)" border="0" /></a>TOKYO (AP) ? Asian stocks were little changed in subdued trading Thursday morning amid worries about lagging shares on Wall Street overnight, and ahead of a slew of earnings reports in coming sessions.</p><br clear="all"/>Dow, S&P slip; Nasdaq barely in black despite Apple's jump<p><a href="http://news.yahoo.com/stock-futures-boosted-apple-solid-euro-zone-data-114641679.html"><img src="http://l3.yimg.com/bt/api/res/1.2/gALiF0nrJ.PrL79UZSZ7kA--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-07-24T210817Z_10_CBRE96L165V00_RTROPTP_2_USA.JPG" width="130" height="86" alt="A trader works on the floor of the New York Stock Exchange shortly after the markets opening in New York" align="left" title="A trader works on the floor of the New York Stock Exchange shortly after the markets opening in New York" border="0" /></a>By Alison Griswold NEW YORK (Reuters) - U.S. stocks mostly retreated on Wednesday as falling utility and commodity shares more than offset gains in the tech sector on Apple&#039;s solid earnings. The Dow Jones industrial average ended slightly lower a day after closing at a record high. Caterpillar and AT&amp;T dragged on the Dow following weak results. Earnings, as a whole, were mixed, with better-than-expected news from Boeing Co But blue-chip Boeing&#039;s stock also ended the day lower. The benchmark S&amp;P 500 logged its first back-to-back declines in a month. ...</p><br clear="all"/>http://news.yahoo.com/stock-futures-boosted-apple-solid-euro-zone-data-114641679.htmlWed, 24 Jul 2013 19:02:39 -0400Reutersstock-futures-boosted-apple-solid-euro-zone-data-114641679<p><a href="http://news.yahoo.com/stock-futures-boosted-apple-solid-euro-zone-data-114641679.html"><img src="http://l3.yimg.com/bt/api/res/1.2/gALiF0nrJ.PrL79UZSZ7kA--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-07-24T210817Z_10_CBRE96L165V00_RTROPTP_2_USA.JPG" width="130" height="86" alt="A trader works on the floor of the New York Stock Exchange shortly after the markets opening in New York" align="left" title="A trader works on the floor of the New York Stock Exchange shortly after the markets opening in New York" border="0" /></a>By Alison Griswold NEW YORK (Reuters) - U.S. stocks mostly retreated on Wednesday as falling utility and commodity shares more than offset gains in the tech sector on Apple&#039;s solid earnings. The Dow Jones industrial average ended slightly lower a day after closing at a record high. Caterpillar and AT&amp;T dragged on the Dow following weak results. Earnings, as a whole, were mixed, with better-than-expected news from Boeing Co But blue-chip Boeing&#039;s stock also ended the day lower. The benchmark S&amp;P 500 logged its first back-to-back declines in a month. ...</p><br clear="all"/>Insurer WellPoint's 2Q profit soars 24 percent<p><a href="http://news.yahoo.com/insurer-wellpoints-2q-profit-soars-24-percent-102856389.html"><img src="http://l1.yimg.com/bt/api/res/1.2/gKPXFo2XvJe3HByOffJnFA--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/ap_webfeeds/292dfee6bf6a7518380f6a70670027ae.jpg" width="130" height="86" alt="FILE- This July 17, 2012, file photo, shows the corporate headquarters of WellPoint in Indianapolis. WellPoint reports quarterly earnings on Wednesday July 24, 2013. (AP Photo/Michael Conroy, File)" align="left" title="FILE- This July 17, 2012, file photo, shows the corporate headquarters of WellPoint in Indianapolis. WellPoint reports quarterly earnings on Wednesday July 24, 2013. (AP Photo/Michael Conroy, File)" border="0" /></a>INDIANAPOLIS (AP) ? Shares of WellPoint Inc. hit an all-time high Wednesday, after the nation&#039;s second-largest health insurer trounced second-quarter earnings expectations and detailed how it expects to benefit from the health care overhaul and other growth opportunities over the next few years.</p><br clear="all"/>http://news.yahoo.com/insurer-wellpoints-2q-profit-soars-24-percent-102856389.htmlWed, 24 Jul 2013 18:54:53 -0400Associated Pressinsurer-wellpoints-2q-profit-soars-24-percent-102856389<p><a href="http://news.yahoo.com/insurer-wellpoints-2q-profit-soars-24-percent-102856389.html"><img src="http://l1.yimg.com/bt/api/res/1.2/gKPXFo2XvJe3HByOffJnFA--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/ap_webfeeds/292dfee6bf6a7518380f6a70670027ae.jpg" width="130" height="86" alt="FILE- This July 17, 2012, file photo, shows the corporate headquarters of WellPoint in Indianapolis. WellPoint reports quarterly earnings on Wednesday July 24, 2013. (AP Photo/Michael Conroy, File)" align="left" title="FILE- This July 17, 2012, file photo, shows the corporate headquarters of WellPoint in Indianapolis. WellPoint reports quarterly earnings on Wednesday July 24, 2013. (AP Photo/Michael Conroy, File)" border="0" /></a>INDIANAPOLIS (AP) ? Shares of WellPoint Inc. hit an all-time high Wednesday, after the nation&#039;s second-largest health insurer trounced second-quarter earnings expectations and detailed how it expects to benefit from the health care overhaul and other growth opportunities over the next few years.</p><br clear="all"/>Visa raises outlook as card spending accelerates<p><a href="http://news.yahoo.com/visa-posts-profit-1-23-billion-authorizes-share-201955128.html"><img src="http://l3.yimg.com/bt/api/res/1.2/GzsSlW6pntIhcIirj2gCLA--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-07-24T222033Z_3_CBRE96N1KHF00_RTROPTP_2_USA.JPG" width="130" height="86" alt="A Visa logo is seen during the International CTIA WIRELESS Conference &amp; Exposition in New Orleans, Louisiana" align="left" title="A Visa logo is seen during the International CTIA WIRELESS Conference &amp; Exposition in New Orleans, Louisiana" border="0" /></a>By Aman Shah (Reuters) - Visa Inc&#039;s quarterly profit beat estimates as people spent more using its cards, and the largest credit and debit card network raised its full-year outlook for revenue and earnings. Visa also authorized a $1.5 billion share buyback program, sending its shares up about 3 percent in after-hours trading. The company raised its full-year forecast for percentage growth in adjusted earnings per share to the &quot;low twenties&quot; from around 20 percent. It said it also expected percentage earnings-per-share growth in 2014 in the mid-to-high teens. ...</p><br clear="all"/>http://news.yahoo.com/visa-posts-profit-1-23-billion-authorizes-share-201955128.htmlWed, 24 Jul 2013 18:20:33 -0400Reutersvisa-posts-profit-1-23-billion-authorizes-share-201955128<p><a href="http://news.yahoo.com/visa-posts-profit-1-23-billion-authorizes-share-201955128.html"><img src="http://l3.yimg.com/bt/api/res/1.2/GzsSlW6pntIhcIirj2gCLA--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-07-24T222033Z_3_CBRE96N1KHF00_RTROPTP_2_USA.JPG" width="130" height="86" alt="A Visa logo is seen during the International CTIA WIRELESS Conference &amp; Exposition in New Orleans, Louisiana" align="left" title="A Visa logo is seen during the International CTIA WIRELESS Conference &amp; Exposition in New Orleans, Louisiana" border="0" /></a>By Aman Shah (Reuters) - Visa Inc&#039;s quarterly profit beat estimates as people spent more using its cards, and the largest credit and debit card network raised its full-year outlook for revenue and earnings. Visa also authorized a $1.5 billion share buyback program, sending its shares up about 3 percent in after-hours trading. The company raised its full-year forecast for percentage growth in adjusted earnings per share to the &quot;low twenties&quot; from around 20 percent. It said it also expected percentage earnings-per-share growth in 2014 in the mid-to-high teens. ...</p><br clear="all"/>Earnings misses, gold-miner selloff drag TSX lower<p><a href="http://news.yahoo.com/tsx-may-open-higher-euro-zone-pmis-offset-123133161.html"><img src="http://l.yimg.com/bt/api/res/1.2/TsbJ7vTJMDAFYUEnKTI9iA--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-07-24T123133Z_1_CBRE96N0YSO00_RTROPTP_2_CBUSINESS-US-MARKETS-CANADA-STOCKS.JPG" width="130" height="86" alt="Sign shows TSX information in Toronto" align="left" title="Sign shows TSX information in Toronto" border="0" /></a>By John Tilak TORONTO (Reuters) - Canada&#039;s main stock index fell on Wednesday, hit by disappointing results from Cenovus Energy Inc and Canadian Pacific Railway Ltd as investors processed a flood of earnings reports from the country&#039;s top corporations. The TSX index was also yanked lower by a 4.6 percent drop in gold-mining shares, which fell with the price of bullion, as the market meanwhile digested more evidence of economic recovery in Europe, a manufacturing rebound in the United States, and growing signs of a slowdown in China. ...</p><br clear="all"/>http://news.yahoo.com/tsx-may-open-higher-euro-zone-pmis-offset-123133161.htmlWed, 24 Jul 2013 16:56:36 -0400Reuterstsx-may-open-higher-euro-zone-pmis-offset-123133161<p><a href="http://news.yahoo.com/tsx-may-open-higher-euro-zone-pmis-offset-123133161.html"><img src="http://l.yimg.com/bt/api/res/1.2/TsbJ7vTJMDAFYUEnKTI9iA--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-07-24T123133Z_1_CBRE96N0YSO00_RTROPTP_2_CBUSINESS-US-MARKETS-CANADA-STOCKS.JPG" width="130" height="86" alt="Sign shows TSX information in Toronto" align="left" title="Sign shows TSX information in Toronto" border="0" /></a>By John Tilak TORONTO (Reuters) - Canada&#039;s main stock index fell on Wednesday, hit by disappointing results from Cenovus Energy Inc and Canadian Pacific Railway Ltd as investors processed a flood of earnings reports from the country&#039;s top corporations. The TSX index was also yanked lower by a 4.6 percent drop in gold-mining shares, which fell with the price of bullion, as the market meanwhile digested more evidence of economic recovery in Europe, a manufacturing rebound in the United States, and growing signs of a slowdown in China. ...</p><br clear="all"/>Caterpillar 2Q profit falls 43 pct; cuts outlook<p><a href="http://news.yahoo.com/caterpillar-2q-profit-falls-43-pct-cuts-outlook-122818136.html"><img src="http://l3.yimg.com/bt/api/res/1.2/oXXFEthHf6c4VurYlKBnlA--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/ap_webfeeds/3a5e8a9abf6c7518380f6a70670057e9.jpg" width="130" height="86" alt="FILE - This Thursday, Feb. 28, 2013, file photo shows a parking lot at Caterpillar Belgium, in Gosselies, Belgium. Caterpillar Inc. reports quarterly financial results before the market opens on Wednesday, July 24, 2013. (AP Photo/Yves Logghe, File)" align="left" title="FILE - This Thursday, Feb. 28, 2013, file photo shows a parking lot at Caterpillar Belgium, in Gosselies, Belgium. Caterpillar Inc. reports quarterly financial results before the market opens on Wednesday, July 24, 2013. (AP Photo/Yves Logghe, File)" border="0" /></a>A global mining industry slump cut into second-quarter earnings at Caterpillar Inc. as companies spent less on equipment and dealers cut inventories more than Caterpillar expected.</p><br clear="all"/>http://news.yahoo.com/caterpillar-2q-profit-falls-43-pct-cuts-outlook-122818136.htmlWed, 24 Jul 2013 15:18:41 -0400Associated Presscaterpillar-2q-profit-falls-43-pct-cuts-outlook-122818136<p><a href="http://news.yahoo.com/caterpillar-2q-profit-falls-43-pct-cuts-outlook-122818136.html"><img src="http://l3.yimg.com/bt/api/res/1.2/oXXFEthHf6c4VurYlKBnlA--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/ap_webfeeds/3a5e8a9abf6c7518380f6a70670057e9.jpg" width="130" height="86" alt="FILE - This Thursday, Feb. 28, 2013, file photo shows a parking lot at Caterpillar Belgium, in Gosselies, Belgium. Caterpillar Inc. reports quarterly financial results before the market opens on Wednesday, July 24, 2013. (AP Photo/Yves Logghe, File)" align="left" title="FILE - This Thursday, Feb. 28, 2013, file photo shows a parking lot at Caterpillar Belgium, in Gosselies, Belgium. Caterpillar Inc. reports quarterly financial results before the market opens on Wednesday, July 24, 2013. (AP Photo/Yves Logghe, File)" border="0" /></a>A global mining industry slump cut into second-quarter earnings at Caterpillar Inc. as companies spent less on equipment and dealers cut inventories more than Caterpillar expected.</p><br clear="all"/>Lilly beats forecast, cuts costs before Cymbalta fadesBy Ransdell Pierson (Reuters) - Eli Lilly and Co reported higher-than-expected quarterly earnings on Wednesday as it slashed costs ahead of generic competition later this year for its biggest product, antidepressant Cymbalta, and raised its 2013 profit view on plans for more streamlining. Shares of Lilly rose almost 3 percent as investors viewed the cost containment for research, marketing and other expenses in the second half of this year as an important move. ...http://news.yahoo.com/lilly-beats-forecast-helped-drugs-soon-face-generics-104322616.htmlWed, 24 Jul 2013 12:34:43 -0400Reuterslilly-beats-forecast-helped-drugs-soon-face-generics-104322616Ford raises profit forecast on strong 2Q results<p><a href="http://news.yahoo.com/ford-raises-profit-forecast-strong-2q-results-121212069.html"><img src="http://l.yimg.com/bt/api/res/1.2/Qkw8uouvZZNbiiIBdQgVZg--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/ap_webfeeds/ff00dc81bf6a7518380f6a706700f76c.jpg" width="130" height="86" alt="In this Thursday, May 23, 2013, photo, rain falls on a car at a Ford dealership in Sydney, Australia. Ford Motor Co. reports quarterly earnings on Wednesday, July 24, 2013. (AP Photo/Rick Rycroft)" align="left" title="In this Thursday, May 23, 2013, photo, rain falls on a car at a Ford dealership in Sydney, Australia. Ford Motor Co. reports quarterly earnings on Wednesday, July 24, 2013. (AP Photo/Rick Rycroft)" border="0" /></a>DEARBORN, Mich. (AP) ? Ford Motor Co. reported better-than-expected earnings for the second quarter and raised its profit and sales forecasts for the year as strong U.S. pickup truck demand and growing sales in China offset persistent ? but narrowing ? losses in Europe.</p><br clear="all"/>http://news.yahoo.com/ford-raises-profit-forecast-strong-2q-results-121212069.htmlWed, 24 Jul 2013 11:00:46 -0400Associated Pressford-raises-profit-forecast-strong-2q-results-121212069<p><a href="http://news.yahoo.com/ford-raises-profit-forecast-strong-2q-results-121212069.html"><img src="http://l.yimg.com/bt/api/res/1.2/Qkw8uouvZZNbiiIBdQgVZg--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/ap_webfeeds/ff00dc81bf6a7518380f6a706700f76c.jpg" width="130" height="86" alt="In this Thursday, May 23, 2013, photo, rain falls on a car at a Ford dealership in Sydney, Australia. Ford Motor Co. reports quarterly earnings on Wednesday, July 24, 2013. (AP Photo/Rick Rycroft)" align="left" title="In this Thursday, May 23, 2013, photo, rain falls on a car at a Ford dealership in Sydney, Australia. Ford Motor Co. reports quarterly earnings on Wednesday, July 24, 2013. (AP Photo/Rick Rycroft)" border="0" /></a>DEARBORN, Mich. (AP) ? Ford Motor Co. reported better-than-expected earnings for the second quarter and raised its profit and sales forecasts for the year as strong U.S. pickup truck demand and growing sales in China offset persistent ? but narrowing ? losses in Europe.</p><br clear="all"/>Arms makers boost profits despite Pentagon budget headwinds<p><a href="http://news.yahoo.com/arms-makers-boost-profits-despite-pentagon-budget-headwinds-141732499.html"><img src="http://l2.yimg.com/bt/api/res/1.2/viUQLHRUsUWS4MQ3O.SCGQ--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/ap_webfeeds/31205b40151e1613340f6a7067002d0c.jpg" width="130" height="86" alt="Ground crew signal to a U.S. Navy F/A-18 Super Hornet pilot before touch-and-go landing training on Iwo Jima, Japan, Friday, June 7, 2013. Though the U.S. Navy regularly conducts carrier landing training on Iwo Jima, now known in Japan as Ioto, officials say the island is not up to Navy safety standards, and that a new site is needed. (AP Photo/Greg Baker)" align="left" title="Ground crew signal to a U.S. Navy F/A-18 Super Hornet pilot before touch-and-go landing training on Iwo Jima, Japan, Friday, June 7, 2013. Though the U.S. Navy regularly conducts carrier landing training on Iwo Jima, now known in Japan as Ioto, officials say the island is not up to Navy safety standards, and that a new site is needed. (AP Photo/Greg Baker)" border="0" /></a>By Andrea Shalal-Esa WASHINGTON (Reuters) - U.S. arms makers reported higher quarterly earnings on Wednesday despite Pentagon budget cuts, with many raising their full-year forecasts, but the companies&#039; order books showed an increasingly tough market. The Pentagon began implementing $37 billion in mandated budget cuts for fiscal 2013 in March, and it faces additional cuts of $50 billion annually over the next nine years unless Congress acts to avert a process known as &quot;sequestration. ...</p><br clear="all"/>http://news.yahoo.com/arms-makers-boost-profits-despite-pentagon-budget-headwinds-141732499.htmlWed, 24 Jul 2013 10:17:32 -0400Reutersarms-makers-boost-profits-despite-pentagon-budget-headwinds-141732499<p><a href="http://news.yahoo.com/arms-makers-boost-profits-despite-pentagon-budget-headwinds-141732499.html"><img src="http://l2.yimg.com/bt/api/res/1.2/viUQLHRUsUWS4MQ3O.SCGQ--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/ap_webfeeds/31205b40151e1613340f6a7067002d0c.jpg" width="130" height="86" alt="Ground crew signal to a U.S. Navy F/A-18 Super Hornet pilot before touch-and-go landing training on Iwo Jima, Japan, Friday, June 7, 2013. Though the U.S. Navy regularly conducts carrier landing training on Iwo Jima, now known in Japan as Ioto, officials say the island is not up to Navy safety standards, and that a new site is needed. (AP Photo/Greg Baker)" align="left" title="Ground crew signal to a U.S. Navy F/A-18 Super Hornet pilot before touch-and-go landing training on Iwo Jima, Japan, Friday, June 7, 2013. Though the U.S. Navy regularly conducts carrier landing training on Iwo Jima, now known in Japan as Ioto, officials say the island is not up to Navy safety standards, and that a new site is needed. (AP Photo/Greg Baker)" border="0" /></a>By Andrea Shalal-Esa WASHINGTON (Reuters) - U.S. arms makers reported higher quarterly earnings on Wednesday despite Pentagon budget cuts, with many raising their full-year forecasts, but the companies&#039; order books showed an increasingly tough market. The Pentagon began implementing $37 billion in mandated budget cuts for fiscal 2013 in March, and it faces additional cuts of $50 billion annually over the next nine years unless Congress acts to avert a process known as &quot;sequestration. ...</p><br clear="all"/>PepsiCo beats Street; CFO backs current portfolio<p><a href="http://news.yahoo.com/pepsico-profit-rises-productivity-price-increases-111317350.html"><img src="http://l2.yimg.com/bt/api/res/1.2/4ysBjc5NRC31EIBawSJ7DA--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-07-24T125048Z_2_CBRE96N0V7A00_RTROPTP_2_USA.JPG" width="130" height="86" alt="A variety of soft drinks produced by Pepsico are seen on a kitchen counter in Golden" align="left" title="A variety of soft drinks produced by Pepsico are seen on a kitchen counter in Golden" border="0" /></a>(Reuters) - PepsiCo Inc reported higher-than-expected quarterly earnings on Wednesday, as price increases and productivity improvements helped margins in the face of weak soft-drink sales in North America and Europe. In addition, the company cited a lower tax rate and a $137 million gain related to refranchising its bottling operations in Vietnam - issues that one analyst said made the results look better than they are. &quot;The headline is much better than the net result,&quot; said JP Morgan analyst John Faucher. ...</p><br clear="all"/>http://news.yahoo.com/pepsico-profit-rises-productivity-price-increases-111317350.htmlWed, 24 Jul 2013 09:58:20 -0400Reuterspepsico-profit-rises-productivity-price-increases-111317350<p><a href="http://news.yahoo.com/pepsico-profit-rises-productivity-price-increases-111317350.html"><img src="http://l2.yimg.com/bt/api/res/1.2/4ysBjc5NRC31EIBawSJ7DA--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-07-24T125048Z_2_CBRE96N0V7A00_RTROPTP_2_USA.JPG" width="130" height="86" alt="A variety of soft drinks produced by Pepsico are seen on a kitchen counter in Golden" align="left" title="A variety of soft drinks produced by Pepsico are seen on a kitchen counter in Golden" border="0" /></a>(Reuters) - PepsiCo Inc reported higher-than-expected quarterly earnings on Wednesday, as price increases and productivity improvements helped margins in the face of weak soft-drink sales in North America and Europe. In addition, the company cited a lower tax rate and a $137 million gain related to refranchising its bottling operations in Vietnam - issues that one analyst said made the results look better than they are. &quot;The headline is much better than the net result,&quot; said JP Morgan analyst John Faucher. ...</p><br clear="all"/>Upbeat European figures give markets a lift<p><a href="http://news.yahoo.com/upbeat-european-figures-markets-lift-102432678.html"><img src="http://l.yimg.com/bt/api/res/1.2/tPOc_0UxfB_3FjJPN4j8yA--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/ap_webfeeds/008b7980bf2c7418380f6a7067002c8c.jpg" width="130" height="86" alt="A man walks by an electronic stock board of a securities firm in Tokyo, Wednesday, July 24, 2013. Asian stock markets were mostly lower Wednesday after a survey showed Chinese manufacturing activity fell to its lowest point in nearly a year. Japan&#039;s Nikkei 225 fell 0.6 percent to 14,692.83. (AP Photo/Itsuo Inouye)" align="left" title="A man walks by an electronic stock board of a securities firm in Tokyo, Wednesday, July 24, 2013. Asian stock markets were mostly lower Wednesday after a survey showed Chinese manufacturing activity fell to its lowest point in nearly a year. Japan&#039;s Nikkei 225 fell 0.6 percent to 14,692.83. (AP Photo/Itsuo Inouye)" border="0" /></a>LONDON (AP) ? Surprisingly strong economic figures out of Europe and upbeat earnings from Apple helped shore up markets Wednesday despite earlier concerns over China.</p><br clear="all"/>http://news.yahoo.com/upbeat-european-figures-markets-lift-102432678.htmlWed, 24 Jul 2013 09:57:32 -0400Associated Pressupbeat-european-figures-markets-lift-102432678<p><a href="http://news.yahoo.com/upbeat-european-figures-markets-lift-102432678.html"><img src="http://l.yimg.com/bt/api/res/1.2/tPOc_0UxfB_3FjJPN4j8yA--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/ap_webfeeds/008b7980bf2c7418380f6a7067002c8c.jpg" width="130" height="86" alt="A man walks by an electronic stock board of a securities firm in Tokyo, Wednesday, July 24, 2013. Asian stock markets were mostly lower Wednesday after a survey showed Chinese manufacturing activity fell to its lowest point in nearly a year. Japan&#039;s Nikkei 225 fell 0.6 percent to 14,692.83. (AP Photo/Itsuo Inouye)" align="left" title="A man walks by an electronic stock board of a securities firm in Tokyo, Wednesday, July 24, 2013. Asian stock markets were mostly lower Wednesday after a survey showed Chinese manufacturing activity fell to its lowest point in nearly a year. Japan&#039;s Nikkei 225 fell 0.6 percent to 14,692.83. (AP Photo/Itsuo Inouye)" border="0" /></a>LONDON (AP) ? Surprisingly strong economic figures out of Europe and upbeat earnings from Apple helped shore up markets Wednesday despite earlier concerns over China.</p><br clear="all"/>Apple leads an early advance in technology stocks<p><a href="http://news.yahoo.com/apple-leads-early-advance-technology-stocks-134652757.html"><img src="http://l1.yimg.com/bt/api/res/1.2/vLHBjj6YZWUQx.FNG_roGA--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/ap_webfeeds/7ceb5d74c06a7918380f6a706700e2c6.jpg" width="130" height="86" alt="Trader David O&#039;Day. left, works with specialist Mark Fitzgerald on the floor of the New York Stock Exchange Monday, July 22, 2013. Chinese stocks fell Wednesday July 24, 2013 after a survey showed the country&#039;s manufacturing fell to its lowest point in nearly a year, though other Asian markets bounced back to finish higher after the report. (AP Photo/Richard Drew)" align="left" title="Trader David O&#039;Day. left, works with specialist Mark Fitzgerald on the floor of the New York Stock Exchange Monday, July 22, 2013. Chinese stocks fell Wednesday July 24, 2013 after a survey showed the country&#039;s manufacturing fell to its lowest point in nearly a year, though other Asian markets bounced back to finish higher after the report. (AP Photo/Richard Drew)" border="0" /></a>NEW YORK (AP) ? Apple is leading an early advance in technology stocks on Wall Street after beating analysts&#039; estimates for earnings and revenue.</p><br clear="all"/>http://news.yahoo.com/apple-leads-early-advance-technology-stocks-134652757.htmlWed, 24 Jul 2013 09:53:01 -0400Associated Pressapple-leads-early-advance-technology-stocks-134652757<p><a href="http://news.yahoo.com/apple-leads-early-advance-technology-stocks-134652757.html"><img src="http://l1.yimg.com/bt/api/res/1.2/vLHBjj6YZWUQx.FNG_roGA--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/ap_webfeeds/7ceb5d74c06a7918380f6a706700e2c6.jpg" width="130" height="86" alt="Trader David O&#039;Day. left, works with specialist Mark Fitzgerald on the floor of the New York Stock Exchange Monday, July 22, 2013. Chinese stocks fell Wednesday July 24, 2013 after a survey showed the country&#039;s manufacturing fell to its lowest point in nearly a year, though other Asian markets bounced back to finish higher after the report. (AP Photo/Richard Drew)" align="left" title="Trader David O&#039;Day. left, works with specialist Mark Fitzgerald on the floor of the New York Stock Exchange Monday, July 22, 2013. Chinese stocks fell Wednesday July 24, 2013 after a survey showed the country&#039;s manufacturing fell to its lowest point in nearly a year, though other Asian markets bounced back to finish higher after the report. (AP Photo/Richard Drew)" border="0" /></a>NEW YORK (AP) ? Apple is leading an early advance in technology stocks on Wall Street after beating analysts&#039; estimates for earnings and revenue.</p><br clear="all"/>Ford earns $1.2B in 2Q on strong US, China sales<p><a href="http://news.yahoo.com/ford-earns-1-2b-2q-strong-us-china-110501314.html"><img src="http://l.yimg.com/bt/api/res/1.2/Qkw8uouvZZNbiiIBdQgVZg--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/ap_webfeeds/ff00dc81bf6a7518380f6a706700f76c.jpg" width="130" height="86" alt="In this Thursday, May 23, 2013, photo, rain falls on a car at a Ford dealership in Sydney, Australia. Ford Motor Co. reports quarterly earnings on Wednesday, July 24, 2013. (AP Photo/Rick Rycroft)" align="left" title="In this Thursday, May 23, 2013, photo, rain falls on a car at a Ford dealership in Sydney, Australia. Ford Motor Co. reports quarterly earnings on Wednesday, July 24, 2013. (AP Photo/Rick Rycroft)" border="0" /></a>DEARBORN, Mich. (AP) ? Ford Motor Co. reported better-than-expected second quarter earnings and raised its profit and sales forecasts for the year as strong U.S. pickup truck demand and growing sales in China offset persistent ? but narrowing ? losses in Europe.</p><br clear="all"/>http://news.yahoo.com/ford-earns-1-2b-2q-strong-us-china-110501314.htmlWed, 24 Jul 2013 07:22:26 -0400Associated Pressford-earns-1-2b-2q-strong-us-china-110501314<p><a href="http://news.yahoo.com/ford-earns-1-2b-2q-strong-us-china-110501314.html"><img src="http://l.yimg.com/bt/api/res/1.2/Qkw8uouvZZNbiiIBdQgVZg--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/ap_webfeeds/ff00dc81bf6a7518380f6a706700f76c.jpg" width="130" height="86" alt="In this Thursday, May 23, 2013, photo, rain falls on a car at a Ford dealership in Sydney, Australia. Ford Motor Co. reports quarterly earnings on Wednesday, July 24, 2013. (AP Photo/Rick Rycroft)" align="left" title="In this Thursday, May 23, 2013, photo, rain falls on a car at a Ford dealership in Sydney, Australia. Ford Motor Co. reports quarterly earnings on Wednesday, July 24, 2013. (AP Photo/Rick Rycroft)" border="0" /></a>DEARBORN, Mich. (AP) ? Ford Motor Co. reported better-than-expected second quarter earnings and raised its profit and sales forecasts for the year as strong U.S. pickup truck demand and growing sales in China offset persistent ? but narrowing ? losses in Europe.</p><br clear="all"/>WellPoint profit beats analysts' view due to low medical costs(Reuters) - WellPoint Inc reported a much higher-than-expected quarterly profit on Wednesday, helped by lower-than-forecast medical costs in its employer-based insurance business and improvements in Medicaid operations after the purchase of Amerigroup in December. The second-largest U.S. insurer also raised its full-year earnings forecast to at least $8 per share, up from the $7.75 it had affirmed in June. WellPoint said its improved 2013 outlook was based on the better first-half results and that it remained "prudent" about the second half of the year. ...http://news.yahoo.com/wellpoint-says-second-quarter-profit-rose-raises-2013-101455384.htmlWed, 24 Jul 2013 07:21:35 -0400Reuterswellpoint-says-second-quarter-profit-rose-raises-2013-101455384Canon cuts profit outlook as China slowdown hits cameras<p><a href="http://news.yahoo.com/canon-cuts-profit-outlook-china-slowdown-hits-cameras-080353287.html"><img src="http://l2.yimg.com/bt/api/res/1.2/4oHgMI4b4_.OT8C_yeSpgQ--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-07-24T080353Z_2_CBRE96N0IO300_RTROPTP_2_US-CANON-EARNINGS-SLOWDOWN.JPG" width="130" height="86" alt="A man walks on an advertisement of Canon digital cameras at an electronics retail store in Tokyo July 24, 2013. REUTERS/Issei Kato" align="left" title="A man walks on an advertisement of Canon digital cameras at an electronics retail store in Tokyo July 24, 2013. REUTERS/Issei Kato" border="0" /></a>By Sophie Knight TOKYO (Reuters) - Japan&#039;s Canon Inc cut its profit forecast for the year to December and trimmed its sales targets for both high-end and compact digital cameras as a slowdown in China and other emerging economies caught the company off-guard. Canon, the world&#039;s largest maker of digital cameras, kicked off the quarterly earnings reporting season for Japan&#039;s big-name tech manufacturers by cutting its operating profit forecast to 380 billion yen ($3.81 billion), down 16 percent from guidance issued just three months ago. ...</p><br clear="all"/>http://news.yahoo.com/canon-cuts-profit-outlook-china-slowdown-hits-cameras-080353287.htmlWed, 24 Jul 2013 04:03:53 -0400Reuterscanon-cuts-profit-outlook-china-slowdown-hits-cameras-080353287<p><a href="http://news.yahoo.com/canon-cuts-profit-outlook-china-slowdown-hits-cameras-080353287.html"><img src="http://l2.yimg.com/bt/api/res/1.2/4oHgMI4b4_.OT8C_yeSpgQ--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-07-24T080353Z_2_CBRE96N0IO300_RTROPTP_2_US-CANON-EARNINGS-SLOWDOWN.JPG" width="130" height="86" alt="A man walks on an advertisement of Canon digital cameras at an electronics retail store in Tokyo July 24, 2013. REUTERS/Issei Kato" align="left" title="A man walks on an advertisement of Canon digital cameras at an electronics retail store in Tokyo July 24, 2013. REUTERS/Issei Kato" border="0" /></a>By Sophie Knight TOKYO (Reuters) - Japan&#039;s Canon Inc cut its profit forecast for the year to December and trimmed its sales targets for both high-end and compact digital cameras as a slowdown in China and other emerging economies caught the company off-guard. Canon, the world&#039;s largest maker of digital cameras, kicked off the quarterly earnings reporting season for Japan&#039;s big-name tech manufacturers by cutting its operating profit forecast to 380 billion yen ($3.81 billion), down 16 percent from guidance issued just three months ago. ...</p><br clear="all"/>Apple's 3Q earnings sag, but top Street estimates<p><a href="http://news.yahoo.com/apples-3q-earnings-sag-top-street-estimates-213047439.html"><img src="http://l.yimg.com/bt/api/res/1.2/tYmQZB.iVZvWMunrHGbHsQ--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/ap_webfeeds/68f533bba02a5b18380f6a706700292e.jpg" width="130" height="86" alt="FILE - In this Monday, June 10, 2013 file photo, people wait for the doors to open for the start of the keynote address at the Apple Worldwide Developers Conference in San Francisco. Apple reports quarterly earnings on Tuesday, July 23, 2013 (AP Photo/Eric Risberg, File)" align="left" title="FILE - In this Monday, June 10, 2013 file photo, people wait for the doors to open for the start of the keynote address at the Apple Worldwide Developers Conference in San Francisco. Apple reports quarterly earnings on Tuesday, July 23, 2013 (AP Photo/Eric Risberg, File)" border="0" /></a>SAN FRANCISCO (AP) ? Apple&#039;s sales of older, less expensive iPhones climbed in its latest quarter, highlighting the challenges facing the world&#039;s most valuable technology company as it tries to reverse a recent decline in its earnings and prove that it can still innovate.</p><br clear="all"/>http://news.yahoo.com/apples-3q-earnings-sag-top-street-estimates-213047439.htmlTue, 23 Jul 2013 20:36:28 -0400Associated Pressapples-3q-earnings-sag-top-street-estimates-213047439<p><a href="http://news.yahoo.com/apples-3q-earnings-sag-top-street-estimates-213047439.html"><img src="http://l.yimg.com/bt/api/res/1.2/tYmQZB.iVZvWMunrHGbHsQ--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/ap_webfeeds/68f533bba02a5b18380f6a706700292e.jpg" width="130" height="86" alt="FILE - In this Monday, June 10, 2013 file photo, people wait for the doors to open for the start of the keynote address at the Apple Worldwide Developers Conference in San Francisco. Apple reports quarterly earnings on Tuesday, July 23, 2013 (AP Photo/Eric Risberg, File)" align="left" title="FILE - In this Monday, June 10, 2013 file photo, people wait for the doors to open for the start of the keynote address at the Apple Worldwide Developers Conference in San Francisco. Apple reports quarterly earnings on Tuesday, July 23, 2013 (AP Photo/Eric Risberg, File)" border="0" /></a>SAN FRANCISCO (AP) ? Apple&#039;s sales of older, less expensive iPhones climbed in its latest quarter, highlighting the challenges facing the world&#039;s most valuable technology company as it tries to reverse a recent decline in its earnings and prove that it can still innovate.</p><br clear="all"/>S&P 500 dips and Dow gains on UTX; Apple up late<p><a href="http://news.yahoo.com/stock-futures-china-moves-focus-earnings-113915762.html"><img src="http://l2.yimg.com/bt/api/res/1.2/Iy5UGNq9LLAEp5cwbNzAkg--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-07-23T194504Z_5_CBRE96L165U00_RTROPTP_2_USA.JPG" width="130" height="86" alt="Traders work on the floor of the New York Stock Exchange shortly after the markets opening in New York" align="left" title="Traders work on the floor of the New York Stock Exchange shortly after the markets opening in New York" border="0" /></a>By Alison Griswold NEW YORK (Reuters) - The S&amp;P 500 snapped a four-day winning streak on Tuesday and pulled back from Monday&#039;s record closing high, while healthy earnings from United Technologies gave the Dow a slight lift. Earnings, as a whole, though, were lukewarm and held back the broader market. Technology shares weighed on the S&amp;P 500 and the Nasdaq. Shares of Apple fell 1.7 percent to end at $418.99, ahead of the company&#039;s earnings after the closing bell. Apple&#039;s stock added 3. ...</p><br clear="all"/>http://news.yahoo.com/stock-futures-china-moves-focus-earnings-113915762.htmlTue, 23 Jul 2013 18:33:55 -0400Reutersstock-futures-china-moves-focus-earnings-113915762<p><a href="http://news.yahoo.com/stock-futures-china-moves-focus-earnings-113915762.html"><img src="http://l2.yimg.com/bt/api/res/1.2/Iy5UGNq9LLAEp5cwbNzAkg--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-07-23T194504Z_5_CBRE96L165U00_RTROPTP_2_USA.JPG" width="130" height="86" alt="Traders work on the floor of the New York Stock Exchange shortly after the markets opening in New York" align="left" title="Traders work on the floor of the New York Stock Exchange shortly after the markets opening in New York" border="0" /></a>By Alison Griswold NEW YORK (Reuters) - The S&amp;P 500 snapped a four-day winning streak on Tuesday and pulled back from Monday&#039;s record closing high, while healthy earnings from United Technologies gave the Dow a slight lift. Earnings, as a whole, though, were lukewarm and held back the broader market. Technology shares weighed on the S&amp;P 500 and the Nasdaq. Shares of Apple fell 1.7 percent to end at $418.99, ahead of the company&#039;s earnings after the closing bell. Apple&#039;s stock added 3. ...</p><br clear="all"/>DuPont reports drop in 2Q earnings<p><a href="http://news.yahoo.com/dupont-reports-drop-2q-earnings-115127044.html"><img src="http://l1.yimg.com/bt/api/res/1.2/x9Nldnn8wyBdasO9aFRLJg--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/ap_webfeeds/3f92596fa0235b18380f6a706700b52d.jpg" width="130" height="86" alt="This Thursday, Dec. 6, 2012 photo, shows construction workers framing a new home in Pepper Pike, Ohio. Chemical and bioscience company DuPont Co. reports quarterly earnings on Tuesday, July 23, 2013. (AP Photo/Tony Dejak)" align="left" title="This Thursday, Dec. 6, 2012 photo, shows construction workers framing a new home in Pepper Pike, Ohio. Chemical and bioscience company DuPont Co. reports quarterly earnings on Tuesday, July 23, 2013. (AP Photo/Tony Dejak)" border="0" /></a>DOVER, Del. (AP) ? The chemicals giant DuPont reported a nearly 12 percent decline in second-quarter earnings Tuesday partly because of lower pricing for titanium dioxide, a widely used whitening pigment, and said it is exploring a possible sale or spinoff of its performance chemicals unit.</p><br clear="all"/>http://news.yahoo.com/dupont-reports-drop-2q-earnings-115127044.htmlTue, 23 Jul 2013 18:21:07 -0400Associated Pressdupont-reports-drop-2q-earnings-115127044<p><a href="http://news.yahoo.com/dupont-reports-drop-2q-earnings-115127044.html"><img src="http://l1.yimg.com/bt/api/res/1.2/x9Nldnn8wyBdasO9aFRLJg--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/ap_webfeeds/3f92596fa0235b18380f6a706700b52d.jpg" width="130" height="86" alt="This Thursday, Dec. 6, 2012 photo, shows construction workers framing a new home in Pepper Pike, Ohio. Chemical and bioscience company DuPont Co. reports quarterly earnings on Tuesday, July 23, 2013. (AP Photo/Tony Dejak)" align="left" title="This Thursday, Dec. 6, 2012 photo, shows construction workers framing a new home in Pepper Pike, Ohio. Chemical and bioscience company DuPont Co. reports quarterly earnings on Tuesday, July 23, 2013. (AP Photo/Tony Dejak)" border="0" /></a>DOVER, Del. (AP) ? The chemicals giant DuPont reported a nearly 12 percent decline in second-quarter earnings Tuesday partly because of lower pricing for titanium dioxide, a widely used whitening pigment, and said it is exploring a possible sale or spinoff of its performance chemicals unit.</p><br clear="all"/>TSX dips as CN Rail, financials offset rise in miners<p><a href="http://news.yahoo.com/tsx-may-open-higher-china-comments-support-121726590.html"><img src="http://l1.yimg.com/bt/api/res/1.2/KmzOMJtVpfeQS_8LmgK1FA--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http://media.zenfs.com/en_us/News/Reuters/2013-07-22T123157Z_1_CBRE96L0YTE00_RTROPTP_2_CBUSINESS-US-MARKETS-CANADA-STOCKS.JPG" width="130" height="86" alt="Toronto Stock Exchange logo is seen in Toronto" align="left" title="Toronto Stock Exchange logo is seen in Toronto" border="0" /></a>By John Tilak TORONTO (Reuters) - Canada&#039;s main stock index pulled back on Tuesday after a four-day rally as a decline in shares of Canadian National Railway Co following its results offset strength in mining shares. Shares of CN Railway, the country&#039;s largest railroad, fell 3.2 percent after the company posted an 11 percent rise in second-quarter adjusted profit but said the second half might be challenging. The stock was the single biggest factor leading the market lower. It had run up before earnings were released after the market close on Monday. ...</p><br clear="all"/>http://news.yahoo.com/tsx-may-open-higher-china-comments-support-121726590.htmlTue, 23 Jul 2013 17:16:11 -0400Reuterstsx-may-open-higher-china-comments-support-121726590http://rss.news.yahoo.com/rss/earnings

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