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• Wall Street falls as debt, economy worries weigh (Reuters)
• Debt fight nears end; downgrade threat remains (Reuters)
• Consumer spending falters, but inflation eases (Reuters)
• Pfizer global drug sales fall, spark concern (Reuters)
• Analysis: Worsening euro crisis may force bigger rescue fund (Reuters)
• Wall St. slips for 6th day; debt deadline near (Reuters)
• Spain unemployment benefits claims down in July (AP)
• Coach net income rises 4 percent in 4Q (AP)
• Spanish, Italian markets slammed by investor fears (AP)
• Consumers get scant relief from debt deal (AP)
• SKorean central bank buys gold after long hiatus (AP)
• Metro says risks to profit target have grown (Reuters)
• Bulldoze: The New Way To Foreclose (Time.com)
• Philippines will seek oil in South China Sea (AFP)
• Archer Daniels Midland 4Q profit falls on taxes (AP)
• GM's July sales rise 8 percent, driven by Cruze (AP)

Wall Street falls as debt, economy worries weigh (Reuters) Posted: 02 Aug 2011 08:58 AM PDT Reuters - Stocks declined on Tuesday, putting the S&P 500 on track for its longest down streak since October 2008, on worries over the United States' debt and economic outlook.

Debt fight nears end; downgrade threat remains (Reuters) Posted: 02 Aug 2011 08:08 AM PDT Reuters - Congress was poised on Tuesday to grant final approval to a deficit-cutting package that will avert a debt default but may not be enough to prevent a damaging downgrade of the top-notch American credit rating.

Consumer spending falters, but inflation eases (Reuters) Posted: 02 Aug 2011 07:12 AM PDT Reuters - Consumer spending dropped in June for the first time in nearly two years and incomes barely rose, signs the economy lacked momentum as the second quarter drew to a close.

Pfizer global drug sales fall, spark concern (Reuters) Posted: 02 Aug 2011 08:26 AM PDT Reuters - Pfizer Inc showed further weakness in its main business of prescription medicines, sending shares down as much as 3.2 percent on concern over future growth as the company prepares to divest better-performing non-pharmaceuticals businesses.

Analysis: Worsening euro crisis may force bigger rescue fund (Reuters) Posted: 02 Aug 2011 08:34 AM PDT Reuters - A worsening euro zone debt crisis may ultimately force the bloc to expand its 440 billion euro ($625 billion) bailout fund, despite political opposition in key contributing countries, some officials and analysts say.

Wall St. slips for 6th day; debt deadline near (Reuters) Posted: 01 Aug 2011 01:12 PM PDT Reuters - U.S. stocks fell for a sixth day on Monday as time runs out for the government to pass a deal to avoid default and the economy shows further signs of stalling.

Spain unemployment benefits claims down in July (AP) Posted: 02 Aug 2011 04:23 AM PDT AP - Spain's Labor Ministry says the number of people filing claims for unemployment benefits fell by 42,059 in July as the summer tourism season provided new jobs.

Coach net income rises 4 percent in 4Q (AP) Posted: 02 Aug 2011 08:53 AM PDT AP - Coach Inc. said Tuesday that its fourth-quarter net income rose 4 percent, helped by people buying more expensive handbags in North America.

Spanish, Italian markets slammed by investor fears (AP) Posted: 02 Aug 2011 08:03 AM PDT AP - Investors dealt Italy and Spain a battering Tuesday as the yields on their bonds struck euro-era highs amid mounting fears that an economic slowdown will hurt their chances of dodging Europe's spreading debt crisis.

Consumers get scant relief from debt deal (AP) Posted: 01 Aug 2011 03:34 PM PDT AP - Just like their government, consumers and individual investors will avert immediate disaster if the debt ceiling agreement wins congressional approval by Tuesday. The stock market shouldn't crash and interest rates won't start skyrocketing.

SKorean central bank buys gold after long hiatus (AP) Posted: 02 Aug 2011 06:35 AM PDT AP - South Korea's central bank has purchased gold for the first time since the Asian financial crisis more than a decade ago as it seeks to diversify the country's increasing pot of foreign reserve holdings.

Metro says risks to profit target have grown (Reuters) Posted: 02 Aug 2011 01:16 AM PDT Reuters - Metro , the world's No.4 retailer, said risks to its 2011 profit target had grown as the global economic recovery falters and shoppers fret about the European debt crisis and higher food prices.

Bulldoze: The New Way To Foreclose (Time.com) Posted: 02 Aug 2011 02:55 AM PDT Time.com - Banks have a new remedy to America's ailing housing market: Bulldozers.

Philippines will seek oil in South China Sea (AFP) Posted: 02 Aug 2011 09:06 AM PDT AFP - The Philippines plans to auction off areas of the South China Sea for oil exploration, despite worsening territorial disputes with China over the area, an official said Tuesday.

Archer Daniels Midland 4Q profit falls on taxes (AP) Posted: 02 Aug 2011 08:40 AM PDT AP - Agribusiness conglomerate Archer Daniels Midland Co. said Tuesday its fiscal fourth-quarter earnings fell 15 percent as a higher tax rate and inflated corn prices offset surging revenue.

GM's July sales rise 8 percent, driven by Cruze (AP) Posted: 02 Aug 2011 09:19 AM PDT AP - General Motors' U.S. sales rose 8 percent in July, led by fuel-efficient vehicles such as the Chevrolet Cruze. But the increase may not be the norm.

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