Wall St skids on renewed subprime worry
NEW YORK (Reuters) - U.S. stocks fell sharply at the open on Thursday on more signs of turmoil in the subprime mortgage sector, sending the New York Stock Exchange Composite Index down more than 190 points, past the level that triggers the NYSE to impose trading curbs.
Retailers report mixed July sales results
NEW YORK (Reuters) - U.S. discounters and department stores reported strong July sales on Thursday, but clothing stores suffered from a slow start to the back-to-school shopping season.
BNP freezes $2.2 bln of funds over subprime
PARIS (Reuters) - France's biggest listed bank, BNP Paribas , froze 1.6 billion euros ($2.2 billion) worth of funds on Thursday, citing the U.S. subprime mortgage sector woes that have rattled financial markets worldwide.
Mortgage delinquencies spreading: AIG
NEW YORK (Reuters) - Residential mortgage delinquencies and defaults are becoming more common among borrowers in the category just above subprime, American International Group said on Thursday.
Wal-Mart July U.S. same-store sales climb
NEW YORK (Reuters) - Wal-Mart Stores Inc. on Thursday reported a 1.9 percent rise in July sales at U.S. stores open at least a year, which was toward the top end of the company's forecast, after it cut prices to drive shoppers into its stores.
Istithmar to buy Barneys
TOKYO (Reuters) - Dubai-based Istithmar is set to buy Jones Apparel Group Inc.'s Barneys New York for $942.3 million after Japanese casual-clothing retailer Fast Retailing Co. Ltd. on Thursday pulled out of the bidding war.
Target same-store sales up 6.1 pct
NEW YORK (Reuters) - Target Corp. on Thursday said sales at stores open at least a year rose 6.1 percent in July, which was within the discount retailer's forecasted range.
Jobless claims rise 7,000 in latest week
WASHINGTON (Reuters) - The number of U.S. workers applying for jobless benefits rose by 7,000 last week to a level slightly higher than expected but still underscoring steady labor market conditions, government data on Thursday showed.
Abercrombie & Fitch same-store sales down
NEW YORK (Reuters) - Clothing retailer Abercrombie & Fitch Co. said on Thursday that sales at stores open at least a year fell 4 percent in July, more sharply than analysts had expected, due to a shift in tax-free holidays.
China bank angles for Bear Stearns stake: report
NEW YORK (Reuters) - Beijing-backed CITIC Group is negotiating for a minority stake in Bear Stearns Cos. Inc. as investors worry about a sharp downturn in the U.S. investment bank's fixed-income and mortgage-related revenue, Forbes magazine reported on Thursday.
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