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Federal Reserve Bank of Philadelphia President Charles Plosser said that while unemployment will probably stay too high for the foreseeable future, he hasn’t ruled out favoring a rate increase this year should economic growth warrant such a move.
“If economic growth in the United States continues to gain traction and the prospects begin to look […]

Microsoft CEO Steve Ballmer told software developers on Thursday that his company will prove doubters wrong and succeed in the mobile field, because the smartphone market is still in its infancy.
"We’re early; there’s no question we’re early," Ballmer said at Microsoft’s Professional Developers Conference. "I think we kind of nailed it. When you see […]

Emily may not be the prettiest thing with plastic parts on bikini-riddled Zuma Beach in Malibu, Calif., but ’she’ still turns heads.
That’s because Emily — whose name is an acronym for Emergency Integrated Lifesaving Lanyard — is a four-foot-long robotic buoy capable of racing through rough surf at 24 miles per hour. Emily’s creators […]

Six giant Silicon Valley tech companies - Adobe Systems Inc., Apple Inc., Google Inc., Intel Corp., Intuit Inc. and Pixar, have settled a Department of Justice complaint that they entered into agreements barring the companies from poaching each others' employees.
The settlement, if approved by a judge, would resolve a civil antitrust complaint that the DOJ's […]

Valley of the Sun Active 20-30 Club, Scottsdale Active 20-30 Club and Kohl’s helped 100 children from the Boys & Girls Clubs of Greater Scottsdale gear up for the school year in the second annual Kohl’s Kids Spree Back to School Shopping Event Aug. 7.
Each child received a $100 gift card to select clothing and […]

Treasurys gained Friday as a disappointing report on employment and a sinking euro revived worries about the health of the global economy.
What prices are doing: The benchmark 10-year note rose 1-12/32 to 102-17/32, pushing the yield down to 3.21%, from 3.36% on Thursday. Bond prices and yields move in opposite directions.
The 30-year bond added […]

Almost 3 million homeowners received at least one foreclosure filing during 2009, setting a new record for the number of people falling behind on their mortgage payments.
RealtyTrac, the online marketer of foreclosed homes, reported that one in 45 households — or 2,824,674 properties nationwide — were in default last year. That’s 21% more […]

The Bank of England said lenders should use improved funding conditions to buffer themselves against further shocks and brace for 1 trillion pounds ($1.6 trillion) in liabilities maturing in the next five years.
“Banks remain exposed to any future deterioration in macroeconomic and market conditions, which could substantially raise the cost of funding and […]

Creditors of bankrupt Freedom Communications Holdings Inc have launched a fight against an “immoral and wicked” reorganization plan that would turn over the Orange County Register owner to JPMorgan Chase & Co and other banks.
A court-appointed committee of creditors asked the judge overseeing the bankruptcy to direct Freedom, which owns 30 daily papers and […]

Latvia will seek to strike a last- minute agreement on budget cuts today to satisfy bailout terms in the latest round of brinkmanship that has tested the patience of the country’s international loan donors.
Prime Minister Valdis Dombrovskis has signaled his Cabinet will agree on an additional 175 million lati ($362 million) in cuts […]