Archive for August 19th, 2008

Stocks slumped Tuesday, falling for the second session in a row, as oil prices rose, retailers' earnings disappointed and reports showed falling homebuilding activity and rising inflation.

As angry voters spark a barrage of energy bills in Congress, the oil industry is spending record amounts of money protecting its interests.

Target Corp.'s second-quarter profit slipped as the discount retailer faced more frugal consumers and difficulties in its credit card business, the company said Tuesday. But the results still managed to beat analysts' estimates.

Storm-tossed financial firms are throwing their treasures overboard just to stay afloat.

Geothermal power, not offshore oil, is the great untapped energy bonanza, according to the search giant.

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Oil prices bounced back Tuesday as the dollar weakened and investors worried that a predicted fall in gasoline supplies could cause refineries to step up crude use.

General Motors Corp. announced Tuesday it is extending the benefits of its employee discount to customers on nearly all of its 2008 vehicles and some 2009 models beginning Wednesday and ending Sept. 2.

Two key reports in the past week show that inflation was running high in July. But August is offering relief.

Wholesale prices increased more than expected in July, adding to growing fears about inflation, according to a government report released on Tuesday.