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U.S. markets news

China's problem is the economy itself, not the market sell-off
The stock market sell-off is not the problem. Yes, the Shanghai Composite Stock Index has dropped almost 40 per cent since its June peak, but the Chinese economy has rarely been upset by fluctuations of its financial markets.
Can the global gloom sink the U.S. economy?  CNNMoney
3 reasons markets lost faith in China's economy, at a glance
For decades, Chinese economic policymakers have drawn praise for keeping their economy growing strongly through turbulence, such as the Asian financial crisis of 1997-1998 and the worldwide financial tumult of 2008.
Doubts about China's ability to manage a tough economic transition sap ...  Fox News
Fed at Jackson Hole: Gearing Up to Hike Amidst Rocky Terrain
Whether looking through low inflation or brushing aside financial market turmoil, U.S. policy makers at the Kansas City Federal Reserve's annual retreat in Jackson Hole, Wyoming, had a largely consistent message: We're staying the course.
Jobs report could prevent rate hike — but unlikely to ensure one  MarketWatch
Fischer flags rebound in US inflation  Financial Times
'Supergiant' gas field found off Egyptian coast
Announcement from Italian energy company says field may hold 30 trillion cubic feet of natural gas; Egypt says parliamentary elections to take place in October.
UPDATE 2-Italy's Eni makes mega gas discovery off Egyptian coast  Reuters
'Supergiant' natural gas field found off Egypt  New Zealand Herald
AP PHOTOS: Neighbors Fill Buckets, Pray for Rain in Drought
OKIEVILLE, Calif. - People living in this dusty neighborhood called Okieville at the heart of California's Central Valley know the harsh reality of drought.
When the wells run dry: California neighbors cope in drought  CBS 8 San Diego
When the wells run dry: California families cope in drought  Porterville Recorder
New boss of Frisch's Big Boy restaurants plans expansion
This undated photo provided by NRD Capital shows NRD Capital founder and interim Frisch's Restaurants CEO Aziz Hashim. The new lead owner of the Cincinnati-based Frisch's Restaurants chain wants to flex Big Boy's brand muscle.
Frisch's Big Boy planned expansion includes Indiana  Indianapolis Star
Investor Warren Buffett is turning 85 but isn't slowing down
OMAHA, Neb. (AP) - Warren Buffett will turn 85 on Sunday, but he's shown no signs of slowing down or retiring from the Berkshire Hathaway conglomerate he built over five decades.
Berkshire Hathaway Builds Stake in Refiner Phillips 66  Wall Street Journal
Warren Buffett's Berkshire grabs large stake in Phillips 66  NYC Today
Third Point's Loeb says Suzuki should cancel shares it buys back from VW
TOKYO Aug 31 U.S. activist investor Daniel Loeb said Suzuki Motor Corp should cancel the shares it plans to buy back from Volkswagen AG, not issue equity or convertible shares.
Suzuki plans to go it alone after ending four-year Volkswagen dispute  Livemint
VW and Suzuki settle four-year dispute  BBC News
Rise in solar cells production to bring Rs 30K-cr inv
"It is expected that the manufacturing capacity for cells and modules will increase roughly by 2,500 MW and 5,000 MW per annum, respectively.
Rise in solar cells production to bring Rs 30000-crore investment  Economic Times
Punjab attracts Rs.3500-cr investments for solar projects  The Statesman
Boeing made a laser cannon that kills drones
The company hopes it will drive drones away from sensitive areas. Worried about a future in which the skies are filled with drones?
Boeing's laser hunts for drones  Computerworld
Boeing's New Laser Cannon Kills Drones Mid-Flight  Ubergizmo