Target
Target CEO Brian Cornell, who's working to turn around the retail chain, said today stores aren't well enough stocked, a symptom of Target losing track of its retail fundamentals.
(Charles Rex Arbogast, Associated Press)
Stock market news:
Stocks posted solid losses today as investors got mixed signals from the Federal Reserve over the possibility of an interest rate hike in September. The Dow Jones industrial average lost 162.61 points to 17,348.73, the Nasdaq composite index lost 40.30 points to 5,019.05 and the Standard & Poor's 500 index lost 17.31 points to 2,079.61. (Associated Press)
European stocks dropped as a rout in commodities sparked by worries about China accelerated today. (MarketWatch)
Gold prices extended gains to a one-month high today, after minutes from last month's Federal Reserve meeting hinted to a decreased likelihood for interest rates to be raised in September, pushing the dollar lower. (Reuters)
Business news:
Target CEO Brian Cornell, who's working to turn around the retail chain, said today stores aren't well enough stocked, a symptom of Target losing track of its retail fundamentals. (Bloomberg News)
U.S. consumer prices rose only slightly in July as airline fares recorded their biggest drop since 1995, but tame inflation pressures will probably not discourage the Federal Reserve from raising interest rates this year. (Reuters)
Teen apparel retailer American Eagle Outfitters said it expected third-quarter store sales growth to be sharply lower than the big jump it reported in the second quarter, sending its shares down as much as 10.5 percent. (Reuters)
More than 15,000 consumers will get a total of more than $4.5 million in refunds of overcharges to their investment accounts under a tentative agreement involving Citigroup announced today by New York's attorney general. (CBS Moneywatch)
Some land in California's Central Valley is sinking by as much as 2 inches per month as water is pumped out of the ground to serve the state during its historic drought, according to new research. (TIME)
John Correnti, a U.S. steel mills builder who helped shift the domestic industry geographically and technologically, died Tuesday in Chicago. (Bloomberg News)
Greece's third bailout in five years cleared its final hurdles today after the German and Dutch parliaments backed the $96 billion rescue plan for cash-strapped Athens. (News24)
Technology news:
Samsung plans a last-ditch appeal to the U.S. Supreme Court to avoid paying hundreds of millions of dollars in fines for infringing Apple patents. (IDG News Service)
LinkedIn today released "Lookup," a simple app designed to help users quickly find coworkers and learn about their background. (Business Insider)
NetApp swung to a loss in the first quarter amid a restructuring the data-storage company said would eliminate 500 jobs. (Dow Jones Business News)
U.S. consumers curious about BlackBerry's upcoming Venice Android slider phone may get a chance to check it out before year's end. (CNET News)