Over 80 percent of California is now in extreme or exceptional drought. CNBC's Jane Wells reports UC Davis predicts this will cost the state $2.2 billion.» Read More
WASHINGTON, July 22- U.S. home resales hit an eight month-high in June, suggesting the housing market was gradually regaining momentum and would help the economy to stay on a higher growth path this year.
Mo Yun, a 42- year-old who was charged in this month with conspiring to steal trade secrets, was allowed to post $250,000 bond, must wear a GPS monitor and stay in a home in the Des Moines area between 10 p.m. and 7 a.m. daily.
*No significant likelihood of another bank deal- CEO John Thain. July 22- U.S. small-business lender CIT Group Inc said it would buy California bank OneWest Bank NA for $3.4 billion in cash and stock, a deal that will give CIT a more reliable source of funding.
NEW YORK, July 22- Billionaire investor William Ackman fired another volley on Tuesday in his 19- month-long war against Herbalife, this time taking aim at the company's use of nutrition clubs for recruiting, claiming they violate U.S. labor laws.
July 22- Quarterly profit at McDonald's Corp fell more than expected after established restaurants in its struggling U.S. division turned in a third straight quarterly sales decline and results from Europe also logged a surprise drop.
July 22- Comcast Corp reported a better-than-expected rise in quarterly profit, helped by the highest subscriber additions in its high-speed internet business for six years and improved profitability at its NBC Universal unit.
SAN FRANCISCO— San Francisco lawmakers narrowly agreed Tuesday to place a 2- cent- per-ounce tax on sugary drinks on the November ballot, a move that promises to turn the election into an expensive fight between the beverage industry and public health advocates.
July 22- McDonald's Corp reported a lower-than-expected quarterly profit as comparable sales in its struggling U.S. business fell for the third straight quarter and sales in Europe declined for the first time in four quarters.
*Consumer prices rise 0.3 percent in June. WASHINGTON, July 22- U.S. consumer prices rose in June as the cost of gasoline surged, but the underlying trend remained consistent with a gradual build-up of inflationary pressures.
Wawona Packing Co. President Brent Smittcamp said in a statement that he is not aware of any illnesses caused by the fruit, and the voluntary recall was announced after consulting with the U.S. Food and Drug Administration.
LOS ANGELES— Comic-Con attendees will have a once-in-a-lifetime chance to enter the mind of Professor X. 20th Century Fox has created an "X-Men"- themed virtual reality stunt especially for the pop-culture convention, which kicks off Thursday in San Diego.
WASHINGTON, July 22- U.S. consumer prices rose in June as the cost of gasoline surged, but the overall trend continued to point to a gradual build up of inflationary pressures. The Labor Department said on Tuesday its Consumer Price Index increased 0.3 percent last month after May's 0.4 percent gain.
July 22- McDonald's Corp's quarterly profit slipped about 1 percent as comparable sales in its struggling U.S. business fell, hurt by lower consumer traffic. The company's net income fell to $1.39 billion, or $1.40 per share, in the second quarter ended June 30 from $1.40 billion, or $1.38 per share, a year earlier.
July 22- Health insurer Centene Corp reported a 24 percent jump in quarterly profit, beating market estimates for the sixth straight quarter, as the company's premium and services revenue surged after it expanded in Florida, Ohio and California.
July 22- Domino's Pizza Inc on Tuesday reported quarterly profit that topped Wall Street's view, boosted by strong results from overseas and its home market of the United States, where rival Pizza Hut is struggling.
July 22- U.S. small-business lender CIT Group Inc said it would buy regional lender OneWest Bank NA for $3.4 billion in cash and stock, its second deal in two months to boost its middle-market lending operations.
WASHINGTON— The Labor Department reports on U.S. consumer prices in June. The report is scheduled to be released at 8:30 a.m. EDT Tuesday. PRICES UP: The expectation is that prices rose 0.3 percent in June, according to a survey by data firm FactSet.
NEW YORK— CIT Group will buy privately owned OneWest Bank in a $3.4 billion cash-and-stock deal. IMB shareholders will receive $2 billion in cash and 31.3 million CIT Group shares that are currently valued at $1.4 billion. OneWest will merge with CIT Group's banking subsidiary CIT Bank, and all locations will operate under the CIT Bank sign.
WASHINGTON, July 22- President Barack Obama and Vice President Joe Biden will put a spotlight on job-training programs on Tuesday as part of a White House push to boost economic opportunities for middle-class Americans, an important voting group in November elections.
With just two weeks before lawmakers' sacrosanct August break, progress is decidedly mixed on several must-pass items due to Capitol Hill partisanship, heightened by midterm elections and the Obama administration's conflicting signals to Congress.