Marketplace Morning Report for Monday, August 2, 2010

Episode Description 
Marketplace Morning Report for Monday, August 2, 2010

Credit cards will be replaced with cell phones

Visa and MasterCard are in talks with the nation's two largest mobile phone companies, AT&T and Verizon, to get rid of plastic cards and make charging completely electronic.

Virginia lawsuit means Obama must defend health plan

A federal judge has let stand a lawsuit that was brought by the state of Virginia against a key provision of the new health plan.
Posted In: Health

Senate will probe BP on use of dispersants in oil spill

BP is dealing with congressional questions about the chemical dispersants used to help break up the oil in the Gulf spill.
Posted In: Oil

Geithner to 'lay out the path forward' in financial reform

In one of his first public appearances since reform passed, Treasury Secretary Tim Geithner will be touting the good the administration says the new financial reforms can do.
Posted In: Banks

UAE says Blackberry operating outside law, banning use

Starting in October, the United Arab Emirates will stop people from sending e-mails, texting or going online on their Blackberries due to security concerns. The move has prompted Saudi Arabia to take similar measures.

Manufacturers hold copyright concerns in Russian WTO negotiations

President Obama wants negotiations on Russia's admission to the World Trade Organization finished soon, and some U.S. manufacturers worry Russia will be given an easy ride on counterfeiting.
Posted In: Russia

House targets BP in bill involving offshore drilling bans

The House of Representatives has passed a bill banning companies responsible for the deaths of over 10 workers over the last seven years from obtaining an offshore drilling license.
Posted In: Oil

Consumer advocates want more competition in casket market

A federal judge will determine whether the three biggest casket companies are shirking FTC rules and creating a monopoly in the death market.

Greenspan says we're in a 'pause' in recovery

Former Federal Reserve Chairman Alan Greenspan has weighed in on the state of the U.S. economy, and most of what he's expressed is worry.
Posted In: Wall Street