Shanda Games 2Q net income drops 16 percent (AP)

AP - Shanda Games Ltd., a Shanghai-based online game company, said Thursday its second-quarter net income fell 16 percent as revenue from both casual and multiplayer games declined.

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.

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.

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.

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.

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.

Qureshi bids for titles in tribute to flood victims (AFP)

AFP - Pakistan's Aisam-Ul-Haq Qureshi has reached the US Open men's and mixed doubles finals and hopes to win both in tribute to the 21 million flood victims in his homeland.

Danish Muhammad cartoonist receives German prize (AP)

AP - German Chancellor Angela Merkel praised the bravery of a Danish cartoonist who caricatured the Prophet Muhammad at an award ceremony honoring his achievements for freedom of speech.

Crisis CEOs Sullivan and Peek find new jobs (Reuters)

Reuters - Two former chief executives who were criticized during the financial crisis for driving their firms to the brink have found new homes.

Nigeria president to stand in polls: state governor (Reuters)

Reuters - Nigerian President Goodluck Jonathan has told state governors in the ruling party he intends to stand in elections next January, one of the governors who attended the meeting said Wednesday.

Governor Rendell: Natural Gas Severance Tax Needed to Continue Protecting Environment, Aid Impacted Communities (PR Newswire)

PR Newswire - CHESTER COUNTY, Pa., Sept. 8 /PRNewswire-USNewswire/ -- A proposed severance tax on the natural gas industry could help to continue Pennsylvania's investments in important environmental projects well into the future and help affected communities deal with the impacts of drilling, Governor Edward G. Rendell said today while addressing a coalition of organizations dedicated to protecting the state's natural resources.

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.

Mexican marines arrest 7 in killing of 72 migrants (AP)

AP - Mexican marines have arrested seven gunmen suspected of participating in the massacre of 72 Central and South American migrants, the government announced Wednesday.

Conservatives see poll lead evaporate (Reuters)

Reuters - The Conservative government has seen its lead over the main opposition Liberals evaporate in public opinion polls following recent controversies and the two parties are now running neck and neck, though an election is not seen in the near term.

Pessimistic about peace, Israelis greet new year (AP)

AP - Israelis usher in the Jewish new year, or Rosh Hashana, at sundown Wednesday with a widespread sense of pessimism that a new round of U.S.-sponsored Mideast talks can achieve peace.

Muslim mason immortalized as cathedral gargoyle (AP)

AP - A Muslim stonemason who spent nearly four decades helping to restore a Roman Catholic cathedral in France has been immortalized as a winged gargoyle peering out from its facade — with the inscription "God is great" written in French and Arabic.

Gang in Mexico massacre tries to silence investigation (McClatchy Newspapers)

McClatchy Newspapers - MEXICO CITY — The criminal gang behind the slaying of 72 migrants late last month is suspected of killing those close to the case in an attempt to shut down further investigation.

Peru president: New Yorker Berenson not a threat (AP)

AP - President Alan Garcia says he doesn't consider Lori Berenson a threat to Peru, suggesting he may be inclined to commute the New Yorker's accomplice-to-terrorism sentence so she can go home.

BP and partners trade blame for oil spill (Reuters)

Reuters - A BP Plc investigation of the Gulf of Mexico disaster played down its own role in the world's worst offshore oil spill and pointed the finger at what it said were failures by contractors.

European pressure mounts on Iran over stoning case (AP)

AP - European Union nations and the continent's biggest human rights organization slammed Iran on Wednesday for its plans to stone a woman convicted of adultery, increasing the global pressure on Tehran over a case it has tried to frame as a criminal matter and not one of human rights.

(AP)

AP - Consumer borrowing falls again in July as credit card use falls for 23rd straight month.

North Korea Succession: Reports of Power-Handover Talks (Time.com)

Time.com - In North Korea, the first congress in 30 years of the Workers' Party of Korea may be imminent, suggesting that a succession is being prepared to hand power from Kim Jong Il to his son Kim Jong Un

Koran Burning: Cues from Osama bin Laden Media Strategy? (Time.com)

Time.com - While he's planning violence against books, not people, the would-be Koran-burning Florida preacher Terry Jones is following a self-promotion strategy similar to that of al-Qaeda leader Osama bin Laden

Google seeks to speed up Web searches (Reuters)

Reuters - Google Inc unveiled a set of enhancements to its Internet search engine on Wednesday that predict search queries as users type, promising to speed up the time it takes to find information online and to generate more searches on the website.

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.

Australian government prepared to adjust mining tax (Reuters)

Reuters - Australia's fragile Labor government suggested on Wednesday it could adjust a planned profits-based tax on mining companies to bend to demands of the independent MPs giving it a slender grip on power.

Mullah Omar tells Afghans Taliban are winning (AP)

AP - The Taliban's shadowy leader told Afghans on Wednesday that the insurgents are winning the war and warned Americans that they are wasting lives and billions in tax dollars by continuing in the conflict.

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.

In Gulf work camp, jobless begin glum journey home (AP)

AP - The hidden face of the Emirates' economic crunch is in places such as Industrial Zone 18 and the ramshackle compound for about 700 migrant workers within. For more than six months, they have lived on charity, fought off rats and slept amid piles of trash after a construction company abruptly closed and left them jobless.

Summary Box: Mortgage lending falls 1.5 pct (AP)

AP - MORTGAGE APPLICATIONS SLIP: Applications for home loans dipped last week as mortgage rates ticked up slightly from the lowest level in decades, according to the Mortgage Bankers Association.

Banging a Drum for the MDG Summit (OneWorld.net)

OneWorld.net - NEW YORK, Sep 7 (IRIN) - Activists are pulling out all the stops ahead of a development summit at UN headquarters on 20-22 September. Pro-aid and anti-poverty lobbyists are trying everything from giant letters to banging pans to raise awareness of the high-level event.

IAEA report: What's driving Iran's latest bout of nuclear obstinacy (The Christian Science Monitor)

The Christian Science Monitor - Iran reacted angrily Tuesday to charges from the United Nations nuclear watchdog that it was hindering an investigation of its nuclear programs by blocking experienced inspectors, and limiting access and design information.

How the major stock indexes fared Tuesday (AP)

AP - Stocks closed lower Tuesday following new worries about Europe's debt problems. News reports said European banks may have more risky government debt on their books than was disclosed during "stress tests" earlier this year. That could mean fees from regulators and more capital-raising by the banks to bolster their balance sheets.

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. ...