Federal officials may consider cuts in food stamp programs that serve 46 million people. (Reuters)
Housing prices probably continued to fall in July. (Reuters)
Toyota (NYSE: TM) and Ford (NYSE: F) to work together on gas/electric cars. (Reuters)
Oil stock piles expected to fall. (Reuters)
The Chinese flash Purchasing Managers’ Index from HSBC rises slightly to 49.8 in August from 49.3 in July. (Reuters)
UBS (NYSE: UBS) fires 3,500 people. (Reuters)
S&P replaces its president with an executive from Citigroup (NYSE: C). (Reuters)
China Standard Software and Microsoft (NASDAQ: MSFT) to sell cloud computing products in the People’s Republic. (Reuters)
A judge says investors may intervene in the $8.5 billion settlement between companies that lost money on mortgage-backed securities and Bank of America (NYSE: BAC). (Reuters)
Obama to release plans to cut large numbers of business regulations. (WSJ)
The CEO of Hewlett-Packard (NYSE: HPQ) says that investors must accept the evolution of the firm. (WSJ)
More economists cut their forecasts for annual GDP growth close to the 1% level. (WSJ)
Boeing (NYSE: BA) close to a deal to sell 100 planes to Delta (NYSE: DAL). (WSJ)
More large company managers leave to join start-ups. (WSJ)
Mortgage delinquencies rise in the second quarter. (WSJ)
German government officials say they expect the economy to slow for the rest of the year. (WSJ)
The National Transportation Safety Board to spend more time examining planes for structural defects. (WSJ)
Indian software exporter Infosys (NASDAQ: INFY) says tech expenditures will slow this year. (WSJ)
Bank of America shares fall as it reveals it will keep half of its investment in China Construction Bank. (WSJ)
Goldman Sachs (NYSE: GS) CEO Lloyd Blankfein hires a lawyer as government investigations of the bank grow. (WSJ)
The SPDR Gold Shares (NYSE: GLD) passes the SPDR S&P 500 (NYSE: SPY) to become the largest ETF by invested dollars. (WSJ)
The FDA receives 5,000 complaints about hip implants so far this year. (NYT)
Members of Merkel’s party again say they are against eurozone bonds. (NYT)
Some investors want McGraw-Hill (NYSE: MHP) broken into four pieces. (NYT)
Oil output from Libya may not increase substantially for years. (FT)
The U.S. Postal System is close to insolvency. (FT)
Obama consults Warren Buffett on U.S. investment and economic growth. (Bloomberg)
China passes the U.S. as the largest PC market in the world. (Bloomberg)
Douglas A. McIntyre
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