Reuters - U.S. retailers are likely to get an “incomplete” mark for the key back-to-school season when they report August sales this week, as a later Labor Day is expected to pull some sales into September, pressuring August results.
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Reuters - Chinese shares stabilized on Tuesday after Monday’s rout, helped by upbeat economic data, while the Aussie dollar firmed on expectations the central bank could shift to a tightening bias later in the day.
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Reuters - Bank of America is offering to repay part of the U.S. government bailout money, starting with the $20 billion it received in January to help with the acquisition of Merrill Lynch & Co, the Wall Street Journal reported on its website late on Monday.
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Time.com - The summer stock-market rally is a break with traditional seasonal patterns, and that bodes well as we head into the scariest season of all
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Reuters - A U.S. judge ruled on Monday against American International Group in the insurer’s legal battle with Starr International Co, affirming a July jury verdict that Starr did not breach a trust.
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AP - U.S. Sen. Max Baucus of Montana says a health care overhaul will happen this year even if Republicans back out of bipartisan talks under growing public pressure and that the death of Sen. Edward Kennedy could help hold together a compromise deal.
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AP - A federal court in Newark, N.J. has rejected Schering-Plough Corp.’s request for a $473 million tax refund related to the drugmaker’s efforts to avoid paying taxes on $690 million in overseas profits it brought back to the U.S. from offshore subsidiaries.
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Politico - Under FEC pressure, it revealed Monday that it recently contributed to a raft of conservative Republicans.
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Reuters - Yahoo Inc board member Carl Icahn has cut back his stake in Yahoo, selling nearly 13 million shares since last Thursday, according to a regulatory filing on Monday.
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AP - Mexico is preparing for a second wave of swine flu, looking at what worked and what didn’t last spring when it banned everything from dining out to attending school in an effort to control the virus.
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