Posted by Katharine Crnko
For Marketplace Morning Report, Friday July 15, 2011
Here are today's top headlines from the Marketplace Morning Report and from around the web.
Drug reviewers said a new pill from Bristol-Myers Squibb and AstraZeneca was effective in treating diabetes, but posed a number of safety risks.
More fallout from the hacking scandal at Rupert Murdoch's News Corporation. Today, Rebekah Brooks, the CEO of the company's British subsidiary News International, resigned.
A little later this morning, we're gonna get the details of financial stress tests taken at 90 European banks. Critics say they won't likely be accurate given the scale of the Greek, Irish and Portuguese debt crises.
American consumer sentiment fell over the past couple of weeks to the lowest level in more than two years. Also, the Thomson Reuters University of Michigan showed Americans lost confidence in government economic policies.
The Commerce Department said consumer prices dropped last month thanks to a big drop in gas prices.
Auto factories produced fewer goods in June than the previous month, and overall factory production was flat. It marked the third straight month of weak manufacturing output.
Citigroup profit was up 24 percent in its second quarter as the bank said it lost less money on bad loans.
To an art heist in suburban Cleveland. It didn't happen at a museum, though. It happened at a Taco Bell. A group of young adults, were caught stealing a piece of nacho art from the dining room wall. Not sure if they were planning to sell it - which may have been difficult anyway because of its unmistakable smell of chalupas and gorditas. In any case, it was returned to the Taco Bell wall. And has been valued at $157.
Gentlemen's Quarterly magazine has come up with the list of the 40 worst-dressed cities in the country. A couple of those included on the list? Portland, Oregon where the magazine says you might see someone wearing a purple cape at a trendy hotel... Which city's number one? Boston. GQ says with its baggy jeans, Sam Adams flip-flops and hair gel Boston is quote -- like America's Bad-Taste Storm Sewer. Their words. Not ours. We love Boston.
You can read the rest of today's stories from the Marketplace Morning Report here.
Here are the songs we played: