Bear Stearns says president Spector has resigned

(Reuters) - In a statement, Bear Stearns said that, effective
immediately, Alan Schwartz has been named the company's sole
president, and Samuel Molinaro will become chief operating
officer in addition to chief financial officer.




Bear also said that Jeffrey Mayer, co-head of the fixed
income division, has been named to the Bear Stearns executive
committee.


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Gold May Extend Rally on More Demand for Dollar Alternative, Survey Shows

(Bloomberg) -- Gold may rise for a second straight
week on speculation that a weaker dollar will boost demand for
the precious metal as an alternative investment.

Seventeen of 27 traders, investors and analysts surveyed by
Bloomberg from Sydney to Chicago on Aug. 2 and Aug. 3 advised
buying gold, which rose 1.8 percent last week to $684.40 an ounce
on the Comex division of the New York Mercantile Exchange. One
respondent said to sell, and nine were neutral.


Read more at Bloomberg Commodities News

Netflix shares poised to rally - Barron's

(Reuters) - "At some point, Blockbuster will cry uncle and raise
prices, and Netflix shares will almost certainly rally," said
Barron's in its technology column.




Netflix might also be an acquisition target, notably by
Amazon.com , said Barron's.



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Fed to weigh hit of credit crunch

(Reuters) - The Fed is widely expected to hold overnight interest rates steady at 5.25 percent, where they have been for more than a year. The policy-setting Federal Open Market Committee is expected to release a statement outlining its views on the economy at around 2:15 p.m. on Tuesday.




Markets will watch keenly for any sign the U.S. central bank, which has persistently identified the risk of inflation as its main concern, is beginning to worry a bit more about the potential for an undesirable weakening in the economy.


Read more at Reuters.com Business News

PREVIEW-Fed to weigh hit of credit crunch, market slide

(Reuters) - *Fed expected to hold benchmark overnight borrowing costs
steady at 5.25 percent




By Mark Felsenthal


Read more at Reuters.com Bonds News

Congress recesses amid Democratic achievements

(Reuters) - Their top priority -- ending the Iraq war -- remains frustratingly unfulfilled. But the Democrats who took over in January were able to go home early on Sunday for a monthlong break having won more support in the U.S. Senate and House of Representatives for bringing combat troops home by early next year, marking a significant turnaround from last year.




Democrats also will be able to batter President George W. Bush and congressional Republicans for sticking with a war policy that droves of Americans increasingly oppose.


Read more at Reuters.com Bonds News

Edison to invest "well above" 4.5 bln euros by 2013

(Reuters) - "We forecast that investments over 2008-2013 will be well above the 4.5 billion euros of our previous business plan."




Quadrino said the investments would help Edison reduce its dependence from gas imports.


Read more at Reuters.com Business News