Wikinvest Wire

Wednesday morning links

Wednesday, July 01, 2009

TOP STORIES
11th-hour votes on state budget fail - LA Times
California Misses Deadline to Avoid the Need for IOUs - Bloomberg
Ten or more face possible Madoff charges - Reuters
Program saves 60 percent of homes from foreclosure - Reuters
Mr. Sunshine? Ron Paul Wins Support to Audit Fed Reserve - Fox News
Treasury OKs 3 firms for mortgage relief program - AP
GM CEO makes case for bankruptcy asset sale - Reuters
Retired From G.M. at 54. Pensionless at 74? - NY Times

MARKETS/INVESTING
Oil rises above $71 as US crude inventories drop - AP
Gold firms a day after sell-off, dollar in focus - Forex Pros
No major Iraq oil output increase in next 5 years - Reuters
Boom in scrap gold sales in India, Middle East - Commodity Online
Banks Falling 23% Since May Foreshadow S&P 500 Slump - Bloomberg
Stock Fund Inflow Continued In May - AP

ECONOMY
Private sector sheds 473,000 jobs in June - Reuters
A Forecast With Hope Built In - New York Times
Small businesses vital to economic recovery go bankrupt - USA Today
Consumer confidence falls on gloomier jobs view - MarketWatch
Consumers hit again as some banks raise credit rates, fees - USA Today

INTERNATIONAL
Chinese Want To Purchase Another $80B Of Gold! - Numismaster
China Manufacturing Expands a Fourth Month - Bloomberg
Fiat CEO says Chrysler cash burn slows - Reuters
Japan’s Tankan Confidence Rebounds Less Than Expected - Bloomberg
China's Huawei needs makeover to win big markets - Reuters
Iraq Fails to Award Most Oil Contracts in Bid Round - Bloomberg
Bank Woes Deepening in Europe - NY Times
Australia’s Retail Sales Climb 1% - Bloomberg

HOUSING
Next Housing Segment To Crash: $1+ Million McMansions - ClusterStock
McMansions Another Black Eye For Housing Market - The Atlantic
Phoenix Housing Market Finally Feels Uptick - HousingWire
Home price decline slows in many places - USA Today

FED/TREASURY/BANKING
Fed's Yellen: rates could be near zero for years - Reuters
FED to Monetize Another $1.75 Trillion in 2009 - Liberty Maven
Banks Balk at Agency Meant to Aid Consumers - NY Times
Bernanke still a speed demon - Asia Times

INTERESTING
What Supersonic Looks Like - LiveScience
Michael Jackson's death sparks bus brawl - AP
Lion prides form to win turf wars - BBC
Man nabbed 3 times in week for skipping on tab - AP

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