Top Business News

AP - Official: Obama to back more business tax breaks

Reuters - Republicans in Congress showed little willingness to help President Barack Obama approve $350 billion in measures to boost the economy with midterm elections less than two months away.

AP - NO QUICK CURE: Even if they were enacted soon, President Barack Obama's proposed tax breaks for businesses would hardly be a fast fix to bolster hiring or the economy, analysts say.

Reuters - U.S. stocks fell in very light volume on Tuesday as investors seized on renewed concerns about European banks as a reason to sell shares after strong gains last week.

AP - Stocks closed lower Tuesday following new worries about Europe's debt problems. News reports said European banks may have more risky government debt on their books than was disclosed during "stress tests" earlier this year. That could mean fees from regulators and more capital-raising by the banks to bolster their balance sheets.

AP - The Obama administration is trying to jump-start its sputtering attempts to tackle the foreclosure crisis with an effort to assist homeowners who owe more on their properties than their homes are worth.

AP - Their control of the House in peril, Democrats are playing defense all across the country. Disgruntled voters, a sluggish economy and vanishing enthusiasm for President Barack Obama have put 75 seats or more - the vast majority held by Democrats - at risk of changing hands.

AP - Motorists should see pump prices slide again after spending a little more to fill their tanks over the Labor Day weekend.

AP - President Barack Obama's proposed tax breaks for business sound like ideas that have enjoyed broad Republican backing in the past. But in today's toxic political atmosphere, he's unlikely to get much — if any — GOP help.

AFP - Oil prices were mixed Tuesday as traders reacted to news of an explosion at a Mexican oil refinery.

AP - SEEKING SAFETY: Gold settled at a record high Tuesday as more worries resurfaced about European banks and the global economy.

AP - Gold prices settled at a record high Tuesday following renewed worries about European banks and the global economy.

The Motley Fool - The bears and bulls were battling as ferociously as ever over the past month. Let's dive right into the debate, through the words of some of the world's greatest investors.

AP - NEW MOVES TO AID ECONOMY: President Barack Obama will call on Congress to pass new tax breaks for businesses, a move aimed at spurring more economic growth and job creation.

AP - Toyota Motor Corp., hoping to solidify its standing as the top brand for Hispanic buyers in the U.S., is offering drivers a series of stickers that celebrates their Hispanic heritage.

Reuters - China's state-owned Sinochem Corp has invited Temasek, the Singapore sovereign wealth fund, to join a consortium that may bid for Canada's Potash Corp , the world's largest fertilizer supplier, sources with knowledge of the matter said on Tuesday.

AP - NEW FORECLOSURE PLAN: The Obama administration is trying to revive its attempts to tackle the foreclosure crisis with a new effort to assist homeowners who owe more on their properties than their homes are worth.

AP - NYSE Euronext said Tuesday it plans to combine its European carbon trading unit with a U.S. firm to expand its environmental energy business.

Reuters - Tax cuts should be extended for all Americans to help spur the economy, but even the middle-class cuts should end in two years, former U.S. budget director Peter Orszag said on Tuesday.

AP - Digital River Inc. on Tuesday said that it has bought online software and book retailer Journey Education Marketing Inc. for an undisclosed amount.