National Business

Reuters - Hewlett-Packard Co results beat Wall Street targets as net profit rose 14 percent, subduing fears that slowing economies and a stronger dollar would weaken the world's biggest computer and printer maker and its rivals.

Reuters - The U.S. Federal Reserve must be ready to take action if slowing economic growth fails to curb inflation stemming from higher food and energy prices, two top Fed policy-makers said on Tuesday, indicating that higher interest rates may be needed.

Reuters - Hewlett-Packard Co , the world's biggest computer maker, reported a higher quarterly profit on Tuesday on solid international sales in its computer and printer businesses, which overcame pockets of weak technology spending.

AP - From affluent shoppers at Saks to bargain-hunters at Target, from Home Depot to office supplier Staples, consumers are pulling back and that's hurting retailers and raising more concerns about how they'll do the rest of the year.

AFP - Investments in the bonds of struggling US home-loan financers Fannie Mae and Freddie Mac have earned Russia more than a billion dollars in the past six months, press reports said Tuesday.

Reuters - The U.S. Federal Reserve must be ready to take action if slowing economic growth fails to curb inflation stemming from higher food and energy prices, one of its top policy-makers said on Tuesday.

Reuters - Upscale retailer Saks Inc. posted a wider-than-expected quarterly loss on Tuesday, as even its well-to-do shoppers curbed spending as the economy weakens, and forecast a drop in its 2008 operating margin.

AP - Luxury goods retailer Saks Inc. reported a wider-than-expected loss for the second quarter on Tuesday and delivered a downbeat forecast for the year as its affluent customers cut back on apparel amid a slowing economy.

Reuters - Wholesale prices shot up in July at the fastest year-on-year rate since 1981, while home builders cut back on construction as they worked through a glut of unsold homes, government data showed on Tuesday.

Reuters - Stock index futures fell on Tuesday as fears that the U.S. housing slump will spawn more losses for the financial sector, causing investors to pare back risk.

Reuters - Home Depot Inc , the world's largest home improvement retailer, reported higher-than-expected quarterly profit on Tuesday as it held down costs and consumers took on spring projects.

Reuters - Oil prices fell to around $112 on Tuesday after a tropical storm in the Gulf of Mexico avoided oil and gas installations.