More headlines for today:
ISM Non-Manufacturing contracts, Treasuries rise – Bloomberg
Treasuries rose for the first time in three days after U.S. service industries unexpectedly contracted at a faster pace in July, suggesting recovery from the deepest recession since the Great Depression may be slow.
Goldman Sachs earn $100m on 46 trading days – Bloomberg
Goldman Sachs Group Inc. made more than $100 million in trading revenue on a record 46 separate days during the second quarter, or 71 percent of the time, breaking the previous high of 34 days in the prior three months.
The General Services Administration has decided how to spend $1 billion on federal building upgrades, but only about 1% of that money has been spent. The GSA will approve another $1 billion by year’s end, but Anthony Costa, acting commissioner of the GSA’s public buildings services, said it will take until 2011 before the agency picks projects for all of the $5.5 billion it was allocated for infrastructure work.
The announcement followed a face-to-face meeting between Mr. Clinton and North Korea’s often irascible dictator Kim Jong Il — the first such high-profile U.S. mission to the so-called “hermit kingdom” since Mr. Clinton’s secretary of state, Madeleine Albright, visited the country in 2000.
Thousands of Filipinos wearing yellow shirts and waving yellow flags braved the rain on Wednesday to gather along Manila’s major streets for former president Corazon Aquino’s funeral procession.
GDP totalled Rmb15,376bn ($2,251bn) in the first half, according to data released individually by China’s 31 provinces and municipalities, 10 per cent higher than the official first-half GDP figure of Rmb13,986bn published by the National Bureau of Statistics.
The Bank of England will end a five- month program of bond purchases as Europe’s second-largest economy shows signs of emerging from a recession, said a majority of the firms that bid at government debt auctions.