PODCAST: Greece gets second bailout, Obama owes London $193
Here are today’s top headlines from the Marketplace Morning Report and from around the web.
European countries and the IMF pledged another $155 billion to bail out Greece.
Here in this country, we got earnings from Microsoft — which reported 30 percent growth in its entertainment and devices division… think the Xbox. But sales of its Windows operating system dropped 1 percent — thanks to a slowdown in PC sales generally.
Verizon’s second-quarter profit topped Wall Street estimates as it added more subscribers than expected in its first full quarter selling the Apple iPhone.
Caterpillar says its second-quarter profit grew 44 percent and with strong demand for its heavy equipment, it is bumping up its outlook for the entire year.
A couple of airlines managed profits last quarter thanks to fare increases, which compensated for higher fuel prices. United-Continental reported
earnings of more than $500 million. U.S. Airways earned just under $100 million. But both profits dropped from the same time last year.
Xerox raised its earnings forecast, indicating that its focus on providing corporate clients with more than just printers and copiers was starting to pay off.
President Obama owes the city of London $193. Last time Mr. Obama visited the British capitol, back in May, his limo — nicknamed the Beast — never paid the $16 congestion fee to drive into the city center. At the time, London’s mayor reportedly told the president about the congestion fee, but was never given payment. The president’s not alone, though, in disregarding the fee. London’s Sun newspaper reports American diplomats there have racked up more than $8 million worth of fines since the congestion fees were introduced in 2003.
To the heat wave that’s hitting much of the country. It’s making a lot of people just want to jump into a nice cool swimming pool. Or maybe steal one. That happened to a homeowner in Richland Hills, Texas. According to the Fort Worth Star Telegram, the 10-foot tall orange and blue pool,and its water slide were taken last weekend by unidentified pool thieves. Too bad for the homeowner… The high temperature today in Richland Hills?102 degrees.
We’re here to help you navigate this changed world and economy.
Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.
In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.
Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.