Today's Internet News Stories
- Inflation pressures mount as home building slows (Reuters) Reuters - U.S. wholesale prices shot up in July at the fastest annual rate in 27 years, while home builders cut back on construction as they worked through a glut of unsold homes, government data showed on Tuesday.
- Fannie, Freddie fears, inflation slam Wall St (Reuters) Reuters - U.S. stocks fell for a second straight session on Tuesday as credit worries hit bank shares and a report showing inflation remains a threat despite slower growth stoked the market's anxiety.
- Ex-hedge fund manager ordered to pay $300 million (Reuters) Reuters - A former hedge fund manager was ordered to pay nearly $300 million for having cheated clients by sending out fake account statements, the Commodity Futures Trading Commission said on Tuesday.
- Fed officials say must be ready to curb inflation (Reuters) Reuters - The U.S. Federal Reserve must be ready to take action if slowing economic growth fails to curb inflation stemming from higher food and energy prices, two top Fed policy-makers said on Tuesday, indicating that higher interest rates may be needed.
- Russia 'makes 1 bln dlrs' on Fannie Mae, Freddie Mac bonds: reports (AFP) AFP - Investments in the bonds of struggling US home-loan financers Fannie Mae and Freddie Mac have earned Russia more than a billion dollars in the past six months, press reports said Tuesday.
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