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• Taxpayers likely to face initial loss on GM IPO: sources (Reuters)
• China tells state companies to explore Potash bid (Reuters)
• Obama says his economic policies halted "bleeding" (Reuters)
• Anglo Irish Bank to be "decommissioned": minister (Reuters)
• Report: SEC Investigating canceled trades (AP)
• Obama promises more stimulus as unemployment edges up (AFP)
• Campbell reports Q4 profit rise on better margins (AP)
• EU decision on support for banks due November: commissioner (AFP)
• Petrobras sells 64 bln dlrs of stock to fund oil exploration (AFP)
• Spending cuts before 2011 could hurt recovery: IMF, ILO (AFP)
• Exclusive: American Apparel in talks with restructuring firm (Reuters)
• MGIC added $1.2B in mortgage coverage in August (AP)
• BP raises blowout preventer, key evidence in probe (AP)
• Obama planning new package of economic aid (AP)
• Kia recalls tied to electrical issue (Investor's Business Daily)

Taxpayers likely to face initial loss on GM IPO: sources (Reuters) Posted: 03 Sep 2010 04:33 PM PDT Reuters - The U.S. government is likely to take a loss on General Motors Co in the first offering of the automaker's stock, six people familiar with preparations for the landmark IPO said.

China tells state companies to explore Potash bid (Reuters) Posted: 03 Sep 2010 08:09 PM PDT Reuters - Chinese officials have ordered state companies to meet investment bankers to explore ways to block BHP Billiton's $39 billion bid for Potash Corp, a source with direct knowledge of the matter said.

Obama says his economic policies halted "bleeding" (Reuters) Posted: 04 Sep 2010 03:01 AM PDT Reuters - President Barack Obama, previewing a big push on the U.S. economy next week, on Saturday defended policies that he said "have stopped the bleeding" and put the middle class on the road to recovery.

Anglo Irish Bank to be "decommissioned": minister (Reuters) Posted: 04 Sep 2010 03:32 AM PDT Reuters - Nationalized Anglo Irish Bank will be "decommissioned," with a decision on its fate expected within a few weeks, a junior government minister was quoted on Saturday as saying.

Report: SEC Investigating canceled trades (AP) Posted: 02 Sep 2010 05:25 AM PDT AP - The Securities and Exchange Commission is looking into certain types of stock trade orders that could be distorting share prices and trading volume, according to The Wall Street Journal.

Obama promises more stimulus as unemployment edges up (AFP) Posted: 03 Sep 2010 01:17 PM PDT AFP - President Barack Obama promised a fresh slew of measures to boost the ailing US economy Friday after fresh data showed unemployment was again on the rise.

Campbell reports Q4 profit rise on better margins (AP) Posted: 03 Sep 2010 01:48 PM PDT AP - Summer is rarely a hot sales season for Campbell Soup Co., and this year's sweltering June and July made that even more true, but the company said Friday that cost-cutting and strong drink sales helped its net income climb.

EU decision on support for banks due November: commissioner (AFP) Posted: 04 Sep 2010 09:11 AM PDT AFP - Brussels will say in November if it is to extend support for troubled European banks, but will move more quickly on the troubled Anglo Irish Bank, the EU's competition commissioner said Saturday.

Petrobras sells 64 bln dlrs of stock to fund oil exploration (AFP) Posted: 03 Sep 2010 01:57 PM PDT AFP - Brazil's Petrobras unveiled one of the world's biggest share offerings Friday, a sale of up to 64 billion dollars in new stock to finance oil exploration aimed at turning Brazil into a leading oil exporter of the 21st century.

Spending cuts before 2011 could hurt recovery: IMF, ILO (AFP) Posted: 03 Sep 2010 10:53 AM PDT AFP - The IMF and the UN labour agency are urging advanced economies not to cut government spending before 2011, warning that a move to tighten fiscal policies could hurt the global recovery.

Exclusive: American Apparel in talks with restructuring firm (Reuters) Posted: 03 Sep 2010 06:38 PM PDT Reuters - Hipster brand American Apparel Inc is in talks to bring in an outside restructuring firm as the manufacturer and retailer struggles to fix its flagging operations, sources told Reuters on Friday.

MGIC added $1.2B in mortgage coverage in August (AP) Posted: 03 Sep 2010 11:50 AM PDT AP - Private mortgage insurer Mortgage Guaranty Insurance Corp. said Friday it added $1.2 billion in new primary insurance coverage in August and the number of delinquent loans it insures declined.

BP raises blowout preventer, key evidence in probe (AP) Posted: 04 Sep 2010 05:33 AM PDT AP - BP crews worked Saturday to slowly raise the 300-ton blowout preventer that failed to stop oil from spewing into the Gulf of Mexico, careful not to damage or drop a key piece of evidence in the spill investigation.

Obama planning new package of economic aid (AP) Posted: 03 Sep 2010 12:44 PM PDT AP - Eager to jumpstart the economy ahead of crucial midterm elections, President Barack Obama said Friday he intends to unveil a new package of proposals, likely including tax cuts and targeted spending, to spark job growth.

Kia recalls tied to electrical issue (Investor's Business Daily) Posted: 03 Sep 2010 03:31 PM PDT Investor's Business Daily - The South Korean automaker is recalling 56,000 cars, the Soul and Sorento, sold in the U.S. and South Korea, because of defective wiring harnesses that could cause fires. Kia Motors said some harnesses made by Johnson Controls for lighting in '10 model-year Soul cars and 2011 model-year Sorento SUVs were improperly soldered, leading to possible electrical shorts. Kia's Soul sales had more than doubled through Aug. in the U.S. to nearly 44,000 units.

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