Business
Economy extends job loss streak (Reuters)
Reuters - U.S. employers cut workers for a sixth straight month in June for the longest such streak since 2002 and the country's vast service sector unexpectedly contracted, underscoring the economy's frailty.
Former Refco CEO gets 16 years in prison (Reuters)
Reuters - Phillip Bennett, the former chief executive of Refco, was sentenced to 16 years in prison on Thursday for fleecing investors of more than $2.4 billion in a fraud that destroyed the world's largest independent commodities broker.
For stocks, escaping bear hinges on oil, GE (Reuters)
Reuters - It will be tough for Wall Street to shake off the bear market blues next week if the price of oil keeps rising and the earnings season kick-off from Alcoa and General Electric disappoints investors.
Hedge fund swindler Israel denied bail, jailed (Reuters)
Reuters - Hedge fund swindler Samuel Israel III faced a fresh charge of bail jumping on Thursday and was ordered to jail immediately, one day after his mother convinced him to end a high-profile run from justice.
Economy casts pall on Sun Valley media fest (Reuters)
Reuters - The deteriorating U.S. economy and slumping stock prices will frame discussions among top media and technology executives at the 26th annual Allen & Co confab in Sun Valley, Idaho, next week.
62,000 jobs lost, off nearly half-million for year (AP)
AP - The nation lost jobs for a sixth month in a row in June, a storm of pink slips drenching this year's July Fourth holiday for more than 60,000 Americans and leaving thousands more worried about the future.
Economy - Thursday (Investor's Business Daily)
Investor's Business Daily - The benchmark 30-year fixed home loan rate fell 10 basis points to 6.35%, ending a 5-week uptrend to a 9-month peak, mortgage finance giant Freddie Mac said. Weaker economic data made a Fed rate hike less likely, pushing Treasury yields and mortgage rates lower. The 15-year fixed-rate mortgage slid 12 ticks to 5.92%. The 1-year ARM fell 10 basis points to 5.17%.
Blockbuster may do Circuit deal later: report (Reuters)
Reuters - Blockbuster Inc , which abandoned its offer to buy Circuit City Stores Inc this week, may try to acquire the electronics retailer later, the New York Post said Thursday citing insiders.
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