Samsung Elec second-quarter net profit boosted by LCD, phones - Reuters - 50 minutes ago
Samsung Electronics Co Ltd , the world's top maker of memory chips, posted a 51 percent rise in second-quarter profit as strong earnings in flat screens and handsets made up for sluggish chip results.

Microsoft CEO backs Web spending, "done" with Yahoo - Reuters - 1 hour, 3 minutes ago
Chief Executive Steve Ballmer on Thursday defended Microsoft Corp's need to make heavy investments in its Internet businesses but said the company was "done," for now, with pursuing Yahoo Inc.

Clear Channel shareholders OK $17.9 billion buyout - Reuters - 2 hours, 35 minutes ago
Clear Channel Communications Inc shareholders on Thursday approved a $17.9 billion takeover by private equity funds Thomas H. Lee Partners and Bain Capital, ending a 20-month effort to take the radio and billboard operator private.

Wachovia CFO Wurtz to leave - Reuters - Thu 6:31 pm ET
Wachovia Corp , which posted a record $8.86 billion second-quarter loss Tuesday, said Chief Financial Officer Thomas Wurtz will resign from the fourth-largest U.S. bank after a successor is named.

Crocs slashes second-quarter, 2008 forecasts; shares drop - Reuters - Thu 5:45 pm ET
Shares of Crocs Inc lost about half of their value on Thursday after the shoemaker slashed second-quarter and 2008 profit and revenue forecasts on an unexpected slowdown in business and weak reorders.

U.S. banks primary borrowings from Fed biggest ever - Reuters - Thu 5:17 pm ET
U.S. banks' direct primary credit borrowing from the Federal Reserve rose to the highest level ever in the latest week, reflecting the growing need of the banking sector to rely on the central bank for cheap funding, analysts said.

New York State sues UBS, alleges auction-rate fraud - Reuters - Thu 5:10 pm ET
New York Attorney General Andrew Cuomo filed a civil lawsuit on Thursday against UBS AG , accusing the Swiss bank of deceptively steering customers into auction-rate securities that this year became impossible to sell amid the credit crunch.