Facebook Said to Plan to Sell TV-Style Ads for $2.5M Each

Facebook Inc., seeking to break the long-held dominance of television over advertising budgets, plans to sell TV-style commercials on its site for as much as $2.5 million a day, two people familiar with the matter said.
Read more: Bloomberg news

European Shares Fluctuate Before Fed as Metals Advance

European stocks swung between gains and losses, with the benchmark index headed for the biggest monthly advance since October 2011, before the Federal Reserve announces monetary policy. Metals climbed while emerging-market shares fell for a sixth day.
Read more: Bloomberg news

China Stocks World’s Worst Losing $748 Billion on Slump

Four years after China’s growth helped lead the global economy out of a recession and won the admiration of luminaries from billionaire George Soros to Nobel laureate Joseph Stiglitz, the nation’s stock market has lost more money for investors than any other in the world.
Read more: Bloomberg news

Spain Weighs Home Demolitions as Wrecking Crews on Alert

Demolition man Daniel Anka had a staff of 450 in Spain preparing for new developments before the property crash. With about a 10th of that workforce left, he’s now waiting for a call from the country’s bad bank so his trimmed-down crew can start knocking down half-built homes that aren’t worth completing.
Read more: Bloomberg news

American Dream Slipping as Homeownership at 18-Year Low

The U.S. homeownership rate, which soared to a record high 69.2 percent in 2004, is back where it was two decades ago, before the housing bubble inflated, busted and ripped more than 7 million Americans from their homes.
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Bacteria in Brains Suggest Alzheimer’s-Gum Disease Link

Bacteria linked to gum disease traveled to the brains of people with Alzheimer’s disease, suggesting that dental hygiene plays a role in the development of the memory-robbing illness, British researchers said.
Read more: Bloomberg news

Egypt’s Mursi Meets EU Envoy as Islamists Urge Protests

The European Union’s foreign policy chief called for a political process in Egypt that includes all parties, after talks with ex-President Mohamed Mursi and the army chief who toppled him.
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Euro Jobless Rate Seen at Record Even as Recession Ends

Euro-region unemployment probably stayed at a record high in June even as the economy emerged from the longest recession since the single currency’s creation, economists said.
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BMW Electric Offered With Spare SUV to Ease Range Anxiety

To avoid the fate of other slow- selling electric vehicles, Bayerische Motoren Werke AG will offer the new i3 -- a battery-powered compact car -- with a unique option: the use of a sport-utility vehicle.
Read more: Bloomberg news

Hedge Funds Raise Gold Bets as Goldman Sees Decline: Commodities

Hedge funds raised wagers on a gold rally as speculation that the Federal Reserve will hold off on curbing stimulus drove prices toward the biggest gain in 18 months. Goldman Sachs Group Inc. expects the rally to reverse.
Read more: Bloomberg news

Publicis to Combine With Omnicom to Create Top Advertiser

Publicis Groupe SA and Omnicom Group Inc. agreed to merge in an all-stock transaction to create the world’s largest advertising company with $23 billion in revenue, toppling market leader WPP Plc.
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China 3% Growth Risk Seen by Barclays Shows Likonomics Angst

A copper price collapse of more than 60 percent, zinc cut by up to a half and oil down to $70 a barrel. That’s the fate facing world commodity markets should China’s growth dip to 3 percent in the next three years -- a scenario economists at Barclays Plc are now examining.
Read more: Bloomberg news

Santander Surprise CEO Marin Bids for Investor Trust

Banco Santander SA Chairman Emilio Botin judged Javier Marin ready to run Spain’s largest bank. Now Marin has to prove himself to investors.
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Brazil’s Batista Loses Billionaire Status as Debts Mount

Eike Batista, ranked as the world’s eighth-richest person last year, ceased to be a billionaire after Mubadala Development Co. converted an investment in his companies into debt, further eroding the value of his assets.
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U.S. Stocks Fall as Yen Climbs on Inflation, Metals Slip

U.S. stocks fell as investors weighed earnings and data showing a rise in consumer sentiment. The yen strengthened as a jump in consumer prices damped speculation Japan will need to expand stimulus, while commodities slumped as China cut manufacturing capacity.
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Amazon Posts Surprise Loss After Spending on Warehouses

Amazon.com Inc. reported a surprise net loss as the world’s largest online retailer continued to pump money into warehouses and digital content, fueling sales growth at the expense of profits.
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Boy Selling Candles Becomes Polish Billionaire Repaying Debt

In Radom, a blue-collar Polish city better known for producing guns than entrepreneurs, Feliksa Pietruszka remembers the young boy from the neighboring apartment who sold candles at the cemetery opposite.
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SAC Reassures Clients as Steve Cohen Fights to Stay Open

Steven A. Cohen’s SAC Capital Advisors LP told investors, employees and counterparties that it will stay open for business as the U.S. accused the $14 billion hedge-fund firm of engaging in an unprecedented insider-trading scheme over more than a decade.
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Zynga Drops After Abandoning U.S. Online-Betting Plan

Zynga Inc., maker of the social- networking game “FarmVille,” plunged as much as 20 percent in early trading after abandoning plans to enter the online- gambling business in the U.S.
Read more: Bloomberg news

Starbucks Profit Gains 25% as U.S. Sales Improve

Starbucks Corp. Chief Executive Officer Howard Schultz’s push into food is starting to pay off, driving traffic into U.S. stores and lifting sales and profit.
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SAC’S Cohen Risks Losing Fortune While Keeping His Freedom

Steven A. Cohen, founder of a $14 billion hedge fund indicted in what the U.S. calls an unprecedented insider trading scheme, faces a future without a fund or a multi-billion dollar fortune. On the other hand, he won’t be behind bars.
Read more: Bloomberg news

Spanish Train Crash Kills 78 in Worst Toll Since Bombings

A rail crash in northwest Spain killed at least 78 people, the highest death toll on the country’s railroads since the 2004 Madrid bombings. Questions were raised about the train’s speed.
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Stocks, Treasuries Drop on Earnings Amid Economic Data

Global stocks fell amid disappointing earnings from companies including BASF SE and PulteGroup Inc. as investors analyzed economic data for clues on the Federal Reserve’s stimulus plans. Treasuries slipped.
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Airbus Pushes Higher-Density A380 to Counter Luxury Image

Airbus SAS is pushing airlines to view its A380 superjumbo as a high-density workhorse rather than a luxury flagship as it targets orders from mass-market carriers in countries such as China, Japan and Indonesia.
Read more: Bloomberg news

Facebook’s CEO Defies Mobile-Ad Skeptics as Sales Soar

Facebook Inc. Chief Executive Officer Mark Zuckerberg’s decision last year to bet big on mobile software is paying off, with sales of ads on wireless devices now on track to surpass revenue from desktop computers.
Read more: Bloomberg news

Snowden Remains at Airport as Ordeal Enters Second Month

Edward Snowden will stay at Sheremetyevo Airport as Russian authorities review the fugitive American’s asylum bid, extending his monthlong confinement in the transit zone, his Moscow-based lawyer said.
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Boeing 747 Freighter Crash in Dubai Spurs Call for Masks

The crash of a Boeing Co. 747 freighter in which two United Parcel Service Inc. pilots died after a cargo fire prompted investigators to call for mandatory full-face oxygen masks in cockpits.
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Mother of Golf Prodigy in Hazing Death Defied by FratPAC

Harrison Kowiak was 19 years old when he died after schoolmates pummeled him on a pitch-black field in Hickory, North Carolina. It was part of a fraternity hazing.
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European Banks Face Capital Gap With Focus on Leverage

Europe’s biggest banks, which more than doubled their highest-quality capital to $1 trillion since 2007 to meet tougher rules, may have further to go as regulators scrutinize how lenders judge the riskiness of their assets.
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China Coal-Fired Economy Dying of Thirst as Mines Lack Water

At first glance, Daliuta in northern China appears to have a river running through it. A closer look reveals the stretch of water in the center is a pond, dammed at both ends. Beyond the barriers, the Wulanmulun’s bed is dry.
Read more: Bloomberg news

Humans Beating Robots Most Since ’08 as Trends Shift: Currencies

Humans are proving more adept than computers in reacting to the Federal Reserve’s mixed messages on when policy makers will reduce their unprecedented stimulus.
Read more: Bloomberg news

Europe Stocks Rise With Copper on German Data; Bonds Drop

European stocks rose to a seven-week high, the euro strengthened and copper rallied after Germany led an unexpected manufacturing rebound in the region. U.S. equity- index futures gained, Treasuries fell and Chinese shares slid.
Read more: Bloomberg news

Outsourcing Made by India Seen Hit by Immigration Law

Software coder Srinivas Mullapudi came to the U.S. on an H-1B employment visa and says he hopes to send enough money back to India to buy an apartment there. He’s concerned America’s immigration revision will end that dream.
Read more: Bloomberg news

William and Kate Say Thanks as Baby Remains Unnamed

Prince William and his wife Kate thanked the hospital staff who delivered their first child yesterday, though they’ve yet to announce a name for the boy who becomes the third in line to the British throne.
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Singapore’s Loss of Top MBA Program Threatens Education Goal

Singapore’s efforts to become an Asian center for higher education was dealt a blow this month when the school with the top-ranked MBA program said it will relocate to Hong Kong.
Read more: Bloomberg news

Boomer Sex With Dementia Foreshadowed in Nursing Home

At 8:30 p.m. on Christmas Day 2009, nurse Tiffany Gourley was called to a room at the Windmill Manor nursing home in Coralville, Iowa. She found a 78-year-old male resident who had just had intercourse with an 87-year-old woman. The man, a former college professor, was divorced. The woman, a retired secretary, was married. Both had dementia.
Read more: Bloomberg news

LaGuardia Delays Top Two Hours as Accident Shuts Runway

Flights arriving at New York’s LaGuardia airport faced delays exceeding two hours after a Southwest Airlines Co. jet bellied onto a runway when its nose gear collapsed on landing.
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Virginia Republican Suffers Abortion Backlash From Donors

Virginia Republican gubernatorial candidate Ken Cuccinelli has less than half as much cash as Democratic opponent Terry McAuliffe, with a prominent list of Republican donors sitting out this year’s most competitive U.S. political contest -- and in some cases switching sides.
Read more: Bloomberg news

Detroit Slides From Industrial Might to Bankruptcy

Detroit, the cradle of the automobile assembly line and a symbol of industrial might, filed the biggest U.S. municipal bankruptcy after decades of decline left it too poor to pay billions of dollars owed bondholders, retired cops and current city workers.
Read more: Bloomberg news

U.S. Index Futures Erase Losses With European Stocks

U.S. index futures and European stocks erased losses as China removed the floor on lending rates, while General Electric Co. posted profit that beat analysts’ estimates. Indonesia’s rupiah dropped for a record 11th day as gold and wheat rallied.
Read more: Bloomberg news

Honda’s Fujino Readies ‘Flying Acura’ to Challenge Cessna

Michimasa Fujino began working on Honda Motor Co.’s aviation project 27 years ago at a hangar in Mississippi. Next year, Fujino, now president of the aircraft unit, says the project may finally get off the ground.
Read more: Bloomberg news

Microsoft Profit Misses Estimates Amid Surface Writedown

Microsoft Corp. reported fourth- quarter profit that missed analysts’ projections by the biggest margin in at least a decade as demand weakens for personal computers running Windows. The shares fell in extended trading.
Read more: Bloomberg news

Google Shares Drop as Shift to Mobile Curbs Ad Prices

Google Inc. shares fell in German trading after the owner of the world’s most popular Internet search engine reported second-quarter sales and profit that missed estimates as mobile advertising crimped average prices.
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Pesticide-Laced School Lunches Blamed for 23 Child Deaths

It was lunchtime at his school in the Indian village of Dahrmasati Gandawan, and Aditya Prasad was handed a plateful of rice, lentils, soybeans and potatoes.
Read more: Bloomberg news

Virgin Atlantic Pushes Back Airbus A380 as Plan Uncertain

Virgin Atlantic Airways Ltd. has delayed taking delivery of six A380 superjumbos ordered from Airbus SAS more than a decade ago as the U.K. carrier evaluates whether it still requires the world’s largest jetliner.
Read more: Bloomberg news

Draghi to Carney Face Test Backing Guidance on Rates

As governor of the Bank of Canada, Mark Carney hailed a willingness to “put our money where our mouths were” as a reason his 2009 campaign to manage interest- rate expectations paid off.
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Decrease in Starts Curbs U.S. Housing Rebound: Economy

The residential real-estate rebound suffered a setback in June as housing starts unexpectedly fell to the lowest level in almost a year, curbing how much construction contributed to U.S. economic growth last quarter.
Read more: Bloomberg news

Bernanke Says Fed Bond Purchases Not on ‘Preset Course’

Federal Reserve Chairman Ben S. Bernanke said the central bank’s asset purchases “are by no means on a preset course” as he sought to tamp down an increase in borrowing costs that threatens to slow the economic expansion.
Read more: Bloomberg news

Bernanke Seeks to Divorce QE Tapering From Interest Rates

Federal Reserve Chairman Ben S. Bernanke will have a chance to use testimony to Congress today to drive home his message that winding down asset purchases won’t presage an increase in the Fed’s benchmark interest rate.
Read more: Bloomberg news

Teenager Wears Dirty Trousers as Late British Open Qualifier

Jordan Spieth played his first practice round at the British Open in the same trousers he wore in making the field for golf’s oldest major championship.
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Dollar Gains Before Bernanke Remarks; Pound Rises on BOE

The dollar strengthened and the yen fell before testimony from Federal Reserve Chairman Ben S. Bernanke that investors are looking to for signs on the strength of the U.S. economy and the central bank’s stimulus plans.
Read more: Bloomberg news

Barclays, Traders Fined $487.9 Million by U.S. Regulator

Barclays Plc and four former traders must pay a combined $487.9 million in fines and penalties, the U.S. Federal Energy Regulatory Commission said in an order tied to an investigation of alleged manipulation of energy markets.
Read more: Bloomberg news

Korean Pilots Avoided Manual Flying, Former Trainers Say

As the Asiana Airlines Inc. jet neared Los Angeles International Airport, Captain Vic Hooper told his Korean co-pilot to make a visual approach, meaning he’d manually fly instead of letting automation do the work.
Read more: Bloomberg news

Honeywell Beacon Faces Scrutiny in Probe of Boeing 787 Fire

An emergency beacon made by Honeywell International Inc. is under scrutiny in a probe of last week’s Boeing Co. 787 fire at London’s Heathrow airport.
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Musk to Release ‘Hyperloop’ Tranport Plans Next Month

Elon Musk, the billionaire chairman and chief executive officer of electric-vehicle maker Tesla Motors Inc., will release designs next month for a system he has said would be capable of whisking people from Los Angeles to San Francisco via a tube.
Read more: Bloomberg news

Hedge Funds Bought Gold in Biggest Rally Since 2011: Commodities

Hedge funds raised bets on higher gold prices for a second week as comments from Federal Reserve Chairman Ben S. Bernanke damped expectations for an imminent tapering of stimulus. Futures rose the most since 2011.
Read more: Bloomberg news

China Wealth Eludes Foreigners as Stocks Earn 1% in 20 Years

China’s 20-year economic boom has boosted the wealth of its 1.3 billion citizens at the fastest pace worldwide and spawned some of the biggest companies in history. Foreigners earned less than 1 percent a year investing in Chinese stocks, a sixth of what they would have made owning U.S. Treasury bills.
Read more: Bloomberg news

Granny’s Gold Bars Are Key to Vietnam Push to Boost Dong

The target of Vietnam’s campaign to stabilize its currency is in the locked bedroom wardrobe of retired civil servant Vu Thi Huong: gold bars.
Read more: Bloomberg news

Texas Threat to Abortion Clinics Dodged at Flea Markets

At an open-air flea market outside McAllen, Texas, near the Mexican border, shoppers can buy a goat and get their car windows tinted. Tables with handwritten signs touting Viagra are stocked with herbal remedies promising to burn fat and boost breast size. You can also find pills to end a pregnancy.
Read more: Bloomberg news

Taiwan Braces for Direct Hit as Typhoon Soulik Approaches

Taiwan is bracing for a direct hit by Typhoon Soulik early tomorrow, with officials evacuating people at risk of landslides and airlines canceling dozens of flights due to expected high winds.
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Stocks Rally on Bernanke as Metals Soar Amid Dollar Slump

Stocks and bonds rose around the world, metals gained and the dollar retreated after Federal Reserve Chairman Ben S. Bernanke called for maintaining monetary stimulus. Portuguese equities and government debt fell amid political turmoil.
Read more: Bloomberg news

Bernanke Supports Continuing Stimulus Amid Debate Over QE

Federal Reserve Chairman Ben S. Bernanke called for maintaining accommodation even as the minutes of policy makers’ June meeting showed them debating whether to stop bond buying by the Fed in 2013.
Read more: Bloomberg news

Japanese Troops Storm California Beach as Marine Power Eyed

A thousand Japanese troops have been learning how to recapture territory in the face of enemy fire. While the shoreline may be California, the skills they are building could one day be used closer to home.
Read more: Bloomberg news

Egypt Seeks Islamist Arrests as Brotherhood Shuns Cabinet

Egypt’s interim Prime Minister Hazem El-Beblawi worked to build a Cabinet even as an arrest warrant for the Muslim Brotherhood’s top leader fueled tension between Islamists and the military.
Read more: Bloomberg news

China Has World’s Most Active Missile Programs, U.S. Says

China’s military has the world’s “most active and diverse ballistic missile program,” with an expanding inventory of nuclear warheads that can reach the U.S., according to a Pentagon intelligence report.
Read more: Bloomberg news

Yen, Oil Rally as European Stocks Climb to One-Month High

The yen strengthened as the Bank of Japan started a two-day meeting and the dollar weakened before the release of Federal Reserve minutes. European stocks fell and the winning streak in commodities extended to the longest in more than nine months.
Read more: Bloomberg news

UBS Leapfrogs Bank of America to Top Wealth Manager Ranks

UBS AG, the Swiss lender shrinking its investment banking business, overtook Bank of America Corp. to top a ranking of the world’s biggest wealth managers compiled by Scorpio Partnership.
Read more: Bloomberg news

Yen Gains as Recovery Signs Damp BOJ Easing Bets

The yen rose the most in almost a month against the dollar as signs of recovery in Japan’s economy damped prospects that the nation’s central bank will ease policy further this year.
Read more: Bloomberg news

Kroger Agrees to Buy Grocer Harris Teeter for $2.5 Billion

Kroger Co., the largest U.S. grocery- store chain, agreed to buy Harris Teeter Supermarkets Inc. for $2.5 billion in cash to bolster its presence in the southeastern part of the country.
Read more: Bloomberg news

EU Unveils Bank-Failure Plan in Face of German Opposition

The European Union’s executive arm is heading for a showdown with Germany over its blueprint for shuttering or restructuring failing banks, a plan intended to complement the European Central Bank’s oversight of lenders.
Read more: Bloomberg news

Stocks Advance on Profit Outlook as Gold Rises, Yen Drops

U.S. stocks rose for a fourth day amid optimism companies will report better-than-forecast earnings for the second quarter, while gold advanced and the yen weakened.
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Asiana Pilots Interviewed on Why Crashed Plane Slowed

The pilot at the controls of the Asiana Airlines Inc. plane that slammed into a seawall in San Francisco on his first attempt to land there in a Boeing Co. 777 will be interviewed by investigators today.
Read more: Bloomberg news

Nissan Goes Back to Future With Datsun in Emerging Markets: Cars

New Delhi fashion designer Rebecca Nelson is the kind of customer Nissan Motor Co. aims to attract as it revives the Datsun brand: Someone on a budget looking to buy her first car. Problem is, she’s never heard the name.
Read more: Bloomberg news

Asiana Seen Saving Millions With Tactic to Bar U.S. Suits

Asiana Airlines Inc. could avoid hundreds of millions of dollars in verdicts and settlements by employing a tactic under international law to bar Chinese and South Korean passengers from suing in victim-friendly U.S. courts over the crash of Flight 214.
Read more: Bloomberg news

Vuitton Tones Down Bling in Russia as Wealthy Go Discreet

When the Soviet Union collapsed 22 years ago, Russian women quickly cast off dowdy proletarian garb in favor of glitz such as ultra-tight sequined dresses and towering heels. Mira Duma is having none of it.
Read more: Bloomberg news

China Cash Squeeze Seen Creating Vietnam-Size Credit Hole

China’s money-market cash squeeze is likely to reduce credit growth this year by 750 billion yuan ($122 billion), an amount equivalent to the size of Vietnam’s economy, according to a Bloomberg News survey.
Read more: Bloomberg news

Asiana Jet’s Slow Approach Probed for Clues to Crash

Crash investigators are probing the final seconds before an Asiana Airlines Inc. Boeing Co. 777 crashed while landing in San Francisco, aiming to establish who was flying the plane.
Read more: Bloomberg news

Losing $317 Billion Makes U.S. Debt Safer for Mizuho to HSBC

The biggest investors in Asia and Europe are keeping their money in Treasuries even after the steepest two-month loss for the securities erased $317 billion of market value.
Read more: Bloomberg news

Asia Stocks Drop on Fed Stimulus, China Lending Concern

Asian stocks dropped the most in two weeks amid concern a credit squeeze in China will curb growth and after a better-than-forecast U.S. jobs report fueled concern that the Federal Reserve may begin reducing stimulus this year.
Read more: Bloomberg news

Asiana Air Crash Adds Pressure on Korea Safety Regulations

Korean Air Lines Co.’s crash history in the 1990s prompted the government to order its carriers to get new planes and pilots more training. Asiana Airlines Inc.’s accident last week may prompt a new round of similar measures.
Read more: Bloomberg news

Europe Stocks Gain as Asia Shares Fall While Bonds Rise

European stocks rose, erasing Friday’s losses, and bonds rallied as euro-area finance ministers prepared to meet. Shares and currencies in Asia declined after a U.S. jobs report last week added to the case for the Federal Reserve to reduce economic stimulus.
Read more: Bloomberg news

Gold Bear-Market History Signals Second-Half Hope After Rout

Investors in gold funds, whose value slumped a record $44.7 billion in the second quarter, may do better in the second half of the year if history is any guide.
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Treasuries Slide as Dollar Rallies With Stocks on Jobs

Treasuries sank, sending the 10-year yield to the highest since August 2011, while the dollar rallied and gold tumbled as faster-than-forecast jobs growth fueled bets the Federal Reserve will begin to reduce its bond buying. U.S. stocks extended a weekly gain.
Read more: Bloomberg news

China’s Aircraft Carrier Advances With Jet Take-Off Drills

China conducted flight take-offs and landings on its Liaoning aircraft carrier over nearly a month of exercises, the first such drills on the vessel as the country modernizes its military arsenal and extends its reach at sea.
Read more: Bloomberg news

Draghi-Carney Seek Independence Day Break From Bernanke

European central bankers broke new ground to protect their economies from a U.S.-led surge in bond yields, indicating they will keep benchmark interest rates low for longer than investors bet.
Read more: Bloomberg news

Tesla Says Model S Orders May Double Hong Kong Electric Cars

Tesla Motors Inc. said it’s received hundreds of orders for its new Model S sedan, enough to double the number of electric cars on the roads of Hong Kong.
Read more: Bloomberg news

Egypt Interim Leader Inherits Troubled Legacy From Mursi

Egypt’s military-appointed interim president was sworn in today, saluting the armed forces and protesters who helped oust Mohamed Mursi and put the polarized nation on the path of what he called a “brighter” future.
Read more: Bloomberg news

European Shares Climb on Draghi as Egypt Bonds Rebound

European shares rallied the most in more than two months and the euro weakened as European Central Bank President Mario Draghi made an unprecedented pledge to keep rates low for an extended period. Egypt’s bond yields fell the most on record after the army deposed President Mohamed Mursi.
Read more: Bloomberg news

Mursi Ouster Rooted in Failure to Sprout Egypt Recovery

The rage that helped topple Egyptian President Mohamed Mursi was nurtured by the Arab Spring’s failure to deliver the green shoots of economic recovery.
Read more: Bloomberg news

Coffee Crushed as Slumping Real Spurs Brazil Sales

The weakest Brazilian real in four years is accelerating coffee shipments from the biggest growing nation, adding to a glut that is cutting costs for Starbucks Corp. and Kraft Foods Group Inc.
Read more: Bloomberg news

Health-Law Employer Mandate Delayed by U.S. Until 2015

The Obama administration will delay a crucial provision of its signature health-care law, giving businesses an extra year to comply with a requirement that they provide their workers with insurance.
Read more: Bloomberg news

Stocks Decline as Portugal Yields Jump While Oil Climbs

Stocks fell around the world, led by Portugal as the nation’s 10-year bond yield surpassed 8 percent for the first time since November after two ministers quit. U.S. equity-index futures pared losses after reports showed an improving jobs market while crude oil rose above $100 a barrel.
Read more: Bloomberg news

Disney Rides Into Box-Office Ambush With ‘The Lone Ranger’

Johnny Depp’s “The Lone Ranger,” opening in theaters tomorrow to negative reviews and tough competition, looks poised to become Walt Disney Co.’s biggest flop since last year’s $200 million loss from “John Carter.”
Read more: Bloomberg news

Snowden’s Asylum Bid Spurned From Switzerland to India

Edward Snowden’s request for asylum was spurned by nations from Switzerland to India as the U.S. pressed internationally for the return of the fugitive leaker of classified documents.
Read more: Bloomberg news

Egypt Crisis Deepens as Mursi Refuses to Step Down

Egypt’s military said it was ready to sacrifice itself in the fight against “fools,” while President Mohamed Mursi vowed to defend his legitimacy with his life as time ran out on the army’s ultimatum to end the political crisis.
Read more: Bloomberg news

Europe Stocks Fall, U.S. Futures Erase Gain as Yen Slides

European shares fell and U.S. stock- index futures erased gains while the yen weakened past 100 per dollar for the first time in a month. Commodities rose before a report that may show a pickup in American factory orders.
Read more: Bloomberg news

Gold Traders Seeking Floor After $66 Billion Rout: Commodities

Gold has further to drop in the rout that erased $66 billion from the value of investor holdings and took prices below the level some mines need to break even.
Read more: Bloomberg news

Snowden Seeks Russian Asylum as Putin Says Leaks Must End

President Vladimir Putin said Edward Snowden must quit hurting American interests if he wants to remain in Russia, after an official said the fugitive U.S. whistleblower applied for asylum here.
Read more: Bloomberg news

Edward Snowden Loses Patriot Games to Putin

A week in Moscow was enough for Edward Snowden to change his plans completely. No one has seen the National Security Agency leaker since he landed at Sheremetyevo Terminal E on June 23, intending to go on to Ecuador, where he had requested political asylum. Now he isn’t going there: On July 1, the Russian consul at Sheremetyevo reported that the night before, Snowden asked for asylum in Russia.
Read more: Bloomberg news

How Fed’s 7% Jobless Avoids Deterring Bondholders Is Mystery

Unemployment will fall to about 7 percent in the fourth quarter, according to economists at five of the world’s largest banks, creating more confusion among investors about the Federal Reserve’s bond-buying plans.
Read more: Bloomberg news

Samsung Slides Equivalent of Sony as S4 Sales Disappoint

Samsung Electronics Co. lost $25.3 billion in market capitalization last month, more than the value of competitor Sony Corp., as sales of its flagship Galaxy S4 smartphone fell short of investor expectations.
Read more: Bloomberg news

Nokia Buys Siemens Stake in Joint Unit for $2.2 Billion

Nokia Oyj agreed to buy Siemens AG’s share in a six-year venture for 1.7 billion euros ($2.2 billion), giving the Finnish company full access to the phone- equipment maker’s cashflow for a less-than-estimated price.
Read more: Bloomberg news

Onyx Seeks Suitors After Rejecting $120-a-Share Amgen Bid

Onyx Pharmaceuticals Inc., the maker of the cancer drug Nexavar, said it is in contact with other possible acquirers after rejecting an unsolicited $120-a-share cash takeover bid from Amgen Inc. Onyx surged in early trading.
Read more: Bloomberg news

Who Goes to Cash Shows Extent Bonds Will Become Bear Market

Investors who poured $1.26 trillion into bond funds in the past six years pulled out record amounts of cash last month, leaving the world’s biggest fixed-income managers struggling to stem the flow.
Read more: Bloomberg news