Bank of Korea keeps interest rate near record low (AP)

AP - South Korea's central bank left its key interest rate near a record low Thursday for a second straight month as the risk of slowing global growth outweighed a buoyant outlook for the local economy.

U.S. slips in WEF's competitiveness rankings (Reuters)

Reuters - Switzerland remains the world's most competitive economy, while the United States has fallen from second to fourth, according to the World Economic Forum.

BP report blames itself, others for oil spill (AP)

AP - BP took some of the blame for the Gulf oil disaster in an internal report issued Wednesday, acknowledging among other things that it misinterpreted a key pressure test of the well. But in a possible preview of its legal strategy, it also pointed the finger at its partners on the doomed rig.

Obama firm, won't yield on tax hike for wealthiest (AP)

AP - Politically weakened but refusing to bend, President Barack Obama insisted Wednesday that Bush-era tax cuts be cut off for the wealthiest Americans, joining battle with Republicans — and some fellow Democrats — just two months before bruising midterm elections.

Lloyds set to sell Crest Nicholson stake: report (Reuters)

Reuters - Lloyds Banking Group is to sell its stake in bank-owned housebuilder Crest Nicholson for 150 million pounds ($232 million), the Financial Times said on Thursday.

BP points fingers in oil spill blame game (Reuters)

Reuters - BP Plc and its Gulf of Mexico oil well partners traded blame on Wednesday after an internal BP investigation tried to downplay the company's role in the world's biggest offshore spill.

Obama: U.S. can't afford to extend tax cuts for rich (Reuters)

Reuters - President Barack Obama, fighting to keep Democrats in charge of Congress, said on Wednesday the United States could not afford to extend Bush-era tax cuts for the rich and accused Republicans of being fiscally irresponsible.

Spartech posts fiscal 3Q loss, misses expectations (AP)

AP - Plastic sheet and packaging maker Spartech Corp. reported a net loss for its fiscal third quarter on Wednesday and said that despite higher revenue, the overall market recover is slower than expected.

Wall Street climbs in low-volume session (Reuters)

Reuters - Stocks rose on Wednesday as investors latched onto positive news out of Europe in the latest in a string of low-volume sessions suggesting little confidence in market direction.

Fed sees 'widespread' signs US economy is slowing (AFP)

AFP - The US economic recovery is showing "widespread" signs of slowing, the US Federal Reserve warned Wednesday, as it gears up for a key policy meeting later this month.

Coffee hits 13-year high; retail prices also up (AP)

AP - Coffee prices hit a 13-year high Wednesday, extending a rally that has sent prices up about 43 percent in the past three months.

AP Source: New GM CEO wants automaker to beat BMW (AP)

AP - General Motors' new CEO told employees that the automaker needs to make cars and trucks that are better than those of competitors such as BMW.

Bankers urge government to pull plug on Fannie, Freddie (Reuters)

Reuters - The federal government should take mortgage finance giants Fannie Mae and Freddie Mac off life support sooner rather than later, the Mortgage Bankers Association urged on Wednesday.

Summary Box: Ireland to split Anglo Irish Bank (AP)

AP - SPLIT: Ireland plans to split its most troubled financial institution, Anglo Irish Bank, into a "good" deposit bank and a "bad" toxic-debt bank. The move comes as the nation seeks to reassure international lenders that it is dealing with the Irish debt crisis.

Freddie Mac to issue new 5-year note due 2015 (AP)

AP - Government sponsored mortgage buyer Freddie Mac said Wednesday it plans to issue new five-year notes due on Sept. 10, 2015.

Wall Street up as fears for European economy ease (AFP)

AFP - US stocks were slightly up on Wednesday after news of a successful Portuguese debt auction eased the previous day's concerns about the European economy.

The Treasury's New Research Office (BusinessWeek)

BusinessWeek - Don't expect an Elizabeth Warren-style campaign for the first director of the Office of Financial Research, yet another agency set up under the financial system overhaul. Unlike the pending decision over who will lead the Consumer Financial Protection Bureau, which has prompted online petitions and a viral rap video in support of the Harvard law professor, the competition over who will be the head of the research office is a wonks-only affair. ...