At The Motley Fool, we know our readers like to be informed. So we have scouted out today's most relevant news items and brought them to you all in one page. We hope you find this midday edition informative and useful.
Companies buckle up for U.S. default
With the default date looming over the country, companies have realized that Congress may not reach a deal. To prepare for what could be a catastrophic economic event, companies have started hoarding large amounts of cash.
Boeing takes off
With increasing sales in the second quarter, Boeing
The company's defense, space, and security business fell by 4% because Boeing decided to cut costs in the area to offset a slowdown in U.S. and overseas defense spending. Read more at The New York Times.
Amazon grows fast, but at a high price
Challenges facing Amazon include that California, New York, Rhode Island, and North Carolina have all attempted to impose sale taxes on the goods it sells. Read more at Bloomberg and The Wall Street Journal.
Dunkin' Brands dunks itself into the market
Dunkin Brands' biggest potential is the scarcity of its stores in western areas of the country. Starbucks and McDonald's have 11,000 and 14,000 stores in the U.S., Dunkin Brands has roughly 6,700 Dunkin Donuts stores and about 2,500 Baskin Robbins stores. Experts said investors are eager to invest in relatively strong eateries with a particular growth potential. The company began trading Wednesday. Read more at Reuters.
In foreclosure debate, one more hurdle
Major U.S. banks trying to negotiate a settlement over the home foreclosure fiasco are now debating how to split the blame. The lack of a deal could further scare investors away from an already fragile banking system. Insiders said Wells Fargo
So there you have it, the top financial stories for this afternoon. Check Fool.com throughout the day for commentary on these and other stories. Also, follow us on Twitter, on Facebook, or through our email digests.
Michelle Zayed owns no shares of any companies mentioned in the story. The Motley Fool owns shares of Starbucks and JPMorgan Chase. The Fool owns shares of and has created a ratio put spread position on Wells Fargo. The Fool owns shares of and has opened a short position on Bank of America. Motley Fool newsletter services have recommended buying shares of Starbucks and McDonald's. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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