Business News Roundup, Aug. 7
Mortgages Fannie, Freddie pay $8.3 billion Fannie Mae and Freddie Mac will send taxpayers $8.3 billion in second-quarter profit, an increase of nearly 50 percent, the government-supported mortgage giants said this week. The companies, which help support

Rangarajan favours RBI majority in Monetary Policy Committee
New Delhi: Joining the debate over the powers of RBI Governor in setting policy rate, bank’s former head C Rangarajan on Sunday said the government can do away with the veto power of Governor but the majority of members in the Monetary Policy Committee

United Furniture’s Triad space crunch tied to Mississippi expansion
United Furniture Industries Inc. s need for additional distribution space in Winston-Salem is coming in part from a decision to add a new product line in Mississippi. United, based in Okolona, Miss., confirmed in late July that it will import wooden

‘India Well Positioned to Absorb Fed Rate Hike Shock’
After hitting a two-week high on Thursday, the Sensex and Nifty closed with minor losses last Friday with the Sensex settling at 28,236.39 and Nifty at 8,564.60. First quarter results, so far, have been mediocre. IT reported muted earnings, with Infosys

Stocks continue slide; U.S. adds 215,000 jobs in July; Verizon ending phone contracts: P.M. Business News Links
Stocks fell today after a solid jobs report kept alive the possibility the Federal Reserve may raise interest rates as soon as next month. The Dow lost 46.37 points to 17,373.38, the Nasdaq composite fell 12.90 points to 5,043.54 and the Standard & Poor’s