Friday morning links

TOP STORIES
• With Sale of Its Good Assets, G.M. Tries for a Fresh Start - NY Times
• Kohn warns Congress on meddling in Fed's affairs - Reuters
• The riots in Xinjiang: Is China fraying? - Economist
• California ‘Incompetence’ Leaves Banks to Ponder IOUs - Bloomberg
• AIG to pay more executive bonuses July 15 - Reuters
• California v Texas: America's future - Economist
• New York Times to charge for online content - Telegraph
• No easy scenarios for California budget crisis - Reuters

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MARKETS/INVESTING
• Oil Set for Biggest Weekly Drop Since January - Bloomberg
• Gold falls as oil tumbles, dollar rises; copper also down - MarketWatch
• Yen, Dollar Rise, Stocks Retreat on Concern Recovery Faltering - Bloomberg
• The Chartist now charts a downward path - MarketWatch
• Futures fall as Chevron warning sparks jitters - Reuters
• Oil Weakens as Recovery Hopes Dim - NY Times

ECONOMY
• Import Prices in U.S. Increased 3.2% Last Month - Bloomberg
• May trade deficit dips more than expected to $26B - AP
• Homeless families spike in the suburbs - CNN/Money
• Weak retail sales in June raise worries - AP
• The economy and employment: On the turn? - Economist

INTERNATIONAL
• China's June exports down 21.4 percent - AP
• China Oil Consumption May Increase 4.2% Next Year - Bloomberg
• Japan deflation deepens; US jobs, German news cheer - Reuters
• UK jobs: the top 10 sectors to be in - Telegraph
• China and the dollar: Yuan small step - Economist
• China Fails to Attract Enough Buyers in Bill Sales - Bloomberg
• Japan's Yosano says stocks will rise 'eventually': report - MarketWatch
• Bank of Korea Upgrades GDP Forecasts - Bloomberg

REAL ESTATE/MORTGAGES
• Maloney: Commercial Real Estate Is a ‘Time Bomb’ - Bloomberg
• Modifying delinquent loans: Mortgage mistakes - Economist
• Falling home values hurt Reverse Mortgage market - Examiner.com
• Is It Time to Invest in Real Estate? - NY Times

FED/TREASURY/BANKING
• Congress Advised Not to Expand Fed's Power - NY Times
• Value of Bank Repayments Draws Scrutiny - Wash. Post
• Reforming finance: Bank capital: Target practice - Economist
• Fed’s Bullard Says He Doesn’t See Recovery Faltering - Bloomberg

INTERESTING
• A Muscle Car to the Rescue for General Motors - NY Times
• Going vertical: Brothers live on building's wall - AP
• An Ugly Time for Fashion as Spinoff Chains Struggle - Wash. Post
• Strange Plant Waters Itself - LiveScience

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