Economy slows in second quarter amid 1.1 percent growth
The U S economy grew at an annual rate of 1.1 percent in Q2, broader GDP data show, with revised figures revealing a worse 2001 recession. Fed Beige Book reports uneven activity and sluggish retail sales, while analysts expect rates to stay unchanged through year end.
MENTIONED IN THIS ARTICLE
Washington
U.S
Commerce Department
AFP
United States
Federal Reserve
Fed
Yaor
Bush
Prange
Paul U Neill
Wall Street
Acorn
AOL Time Warner faces possible criminal probe into accounting
The Justice Department investigates AOL Time Warner accounting practices amid SEC scrutiny, raising the possibility of criminal charges. Shares fall as regulators probe transactions at the America Online unit, while the company and Bush administration reactions frame a wider corporate fraud climate.
MENTIONED IN THIS ARTICLE
New York
AOL Time Warner Inc
Justice Department
AOL Time Warner
Bush
USA Today
Robert Pittman
Pittman
America Online
Washington Post
AOL
eBay
SEC
MCI
WorldCom
Global Crossing
Enron
Ageronia Communications
Robert Mintz
Justice
AGL Time Warner
Individual health plans grow rarer and costlier nationwide
The Los Angeles Times reports insurers are raising premiums on individual policies and tightening eligibility, increasing the uninsured. High risk pools face budget cuts with eight to eighteen month waits, while brokers note field underwriting patterns: denial based on health issues and costly drugs.
MENTIONED IN THIS ARTICLE
California
Jeff Miles
California Association of Health Underwriters
Miles
David Fear
California Insurance Marketing Services
Bush Administration
U.S. Senate
Stocks edge mixed as GDP miss rattles nerves
U S markets finished mixed after a surprising 1.1 percent GDP growth pace in the second quarter and ongoing accounting questions at AOL Time Warner. blue chips rose while technology shares fell as investors weighed potential bottoming of the market and a slow economy. Verizon gained on strong results, Merck cut its Medco offering, and Hot Topic tumbled on weaker forecasts.
MENTIONED IN THIS ARTICLE
Nized
AOL Time Warner
Securities and Exchange Commission
America Online
New York Stock Exchange
Xécdleu
Ugon News
Dow
Standard & Poor
New York
Stephen Massacca
Pacific Growth Equities
S&p
SEC
Department of Justice
Brian Bush
Stephens Inc
Verizon
Merck
Medco Health Solutions
Hot Topic
Microsoft
Intel
IBM
Dollar declines against euro as weak data hits markets
The dollar eased versus the yen but rose against most major currencies in New York after weak U S data. The euro traded near 97.7 cents, while the dollar hovered around 120 yen, with analysts saying a 120 to 122 yen range may form. IBM cash and stock move valued at 3.5 billion complicates earnings outlook.
MENTIONED IN THIS ARTICLE
New York
Dow Jones/AP
Europe
PricewaterhouseCoopers
Tnove
IBM
Also Mentioned on This Page
Feds Probing
Justice Dept
Los Angeles Times
Chronicle On Time
Kauapl
Youl Pede Suuilc
Sheffield Lake
Vermilion
North Ridgeville
Avon
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