Plans for a budget vote by Republicans in the House fell apart (Reuters)

Moody’s threatened to downgrade Spain (Reuters)

BSkyB will have a $1.6 billion share buyback (Reuters)

S&P said the U.S. should cut $4 trillion from the budget over 10 years (Reuters)

Goldman Sachs (NYSE: GS) has made money in the business of warehousing important metals (Reuters)

Strategy Analytics said Nokia (NYSE: NOK) dropped from the No.1 spot in global smartphone sales to No.3 in the second quarter (Reuters)

Starbucks (NYSE: SBUX) raised its forecast for the rest of the years (Reuters)

Investors are pulling billions of dollars in cash out of money market funds (WSJ)

One of the first financial instruments that could default are T-Bills that mature August 4 (WSJ)

Verizon Wireless will pay $10 billion to its two shareholders — Verizon (NYSE: VZ) and Vodaphone (NYSE: VOD) (WSJ)

Dell (NASDAQ: DELL) released a tablet PC that will only be sold in China (WSJ)

China remains a larger purchaser of U.S. debt despite budget problems (WSJ)

The Treasury Department is under pressure to detail its plan if the debt cap is not raised by August 2 (WSJ)

Sellers of Google (NASDAQ: GOOG) TV said consumers are returning the products at a pace that outstrips sales (WSJ)

EU business sentiment fell (WSJ)

Horton and Pulte (NYSE: PUL) reported poor results in another sign that housing is in further trouble (WSJ)

The International Grains Council said U.S. grain production will be short of global demand (WSJ)

U.S. car companies have decided to agree to aggressive mileage rules for 2025 (NYT)

Bureaucracy in Italy has hurt its effort to address debt trouble (NYT)

Amazon.com (NASDAQ: AMZN) set a deal with NBC Universal to build its video streaming business (NYT)

Shareholders will pressure BP’s (NYSE: BP) chairman over the company’s lack of plans to complete its turnaround (FT)

German retail sales rose at a record pace (Bloomberg)

Apple (NASDAQ: AAPL) doubled its global smartphone market share last quarter (Bloomberg)

Douglas A. McIntyre

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