SEC probing certain investment advisory firms: report (Reuters)

Reuters - The U.S. securities regulator is investigating investment advisory firms that channel investors' money into hedge funds, the Wall Street Journal reported.

Asia stocks hit 4-month high as yen slides (Reuters)

Reuters - Asian stocks rose to a four-month high on Friday as some investors were inspired by positive U.S. and Japanese economic data to pick out bargains, with the shift to riskier assets weighing on the yen.

Enbridge pipeline leaks oil in Chicago suburb (AP)

AP - Oil was sent onto a roadway and into a retention pond in suburban Chicago on Thursday when Enbridge Energy Partners officials said one of their pipelines in the area leaked.

U.S. chipmakers' outlooks stoke economy concerns (Reuters)

Reuters - Chip makers National Semiconductor and Texas Instruments Inc on Thursday issued quarterly financial targets that stoked investors' worries about a sluggish economy.

Casey's in buyout talks with 7-Eleven (Reuters)

Reuters - Casey's General Stores Inc confirmed it was in buyout talks with convenience store operator 7-Eleven, which offered the company $40 per share in cash earlier this month.

India vehicle sales remain strong (Investor's Business Daily)

Investor's Business Daily - Aug. car sales in India rose 33.2% from a year ago, according to the Society of Indian Automobile Manufacturers. The gain was impressive considering supply constraints have pushed up vehicle prices. Ford expects India to be the world's No. 3 auto market by decade's end, and is pushing hard to gain market share from rivals such as Maruti Suzuki, Hyundai and Tata Motors . Ford plans to launch 8 more models in India. Meanwhile, Tata's domestic sales of its key medium and heavy commercial vehicles rose 34%.

IMF to sell 400 million dollars' worth of gold to Bangladesh (AFP)

AFP - The International Monetary Fund on Thursday announced it would sell 10 metric tons of gold to Bangladesh, worth around 403 million dollars.

Mortgage rates edge up; Housing market still slow (AP)

AP - Record-low mortgage rates failed to pull the housing market out of its funk. Now rates are inching higher, but don't blame them if home sales stay sluggish.

Homeowners, Beware Association Costs (Investor's Business Daily)

Investor's Business Daily - House and condo owners may face extra costs as their homeowner associations struggle with unpaid assessments, the legacy of neighbors hit by job losses and foreclosures.

Shoe seller DSW's operator says 2Q profit jumps (AP)

AP - Retail Ventures Inc., which operates the DSW shoe store chain, posted a 67 percent jump in second-quarter net income as a key revenue figure improved.

Analysis: Obama has tenuous grip on Democrats over taxes (Reuters)

Reuters - Democrats in Congress are distancing themselves from President Barack Obama's push to let taxes rise for the wealthiest Americans, fearing it will further harm them in November's mid-term elections.

Geithner urges tax breaks for small businesses (Reuters)

Reuters - Treasury Secretary Timothy Geithner urged congressional support for tax breaks for small businesses and said that would help create jobs.

Wal-Mart US merchandising now headed by four execs (Reuters)

Reuters - Wal-Mart Stores Inc will remain without a chief merchandising officer for its U.S. stores for now, instead naming four new product heads to take over that responsibility, the retailer said on Thursday.

Irish bonds rebound, banks hold ground after Anglo (AP)

AP - Investors welcomed Ireland's plan to split up its most debt-crippled bank, Anglo Irish, by bidding strongly Thursday for government bonds. Ireland's battered bank shares also held their ground.

Data shows economic recovery still on track (Reuters)

Reuters - New U.S. claims for unemployment benefits fell more than expected last week to a two-month low, while the trade deficit narrowed sharply in July, hopeful signs for the stuttering economic recovery.

Web Impostors May Face Prison in California (BusinessWeek)

BusinessWeek - California Web impostors beware: You may soon be breaking the law, even if you aren't one of the perpetrators targeted by the state's "e-personation" bill.

SEC says proposed Citi settlement is fair (Reuters)

Reuters - The top securities regulator defended its proposed $75 million settlement with Citigroup , saying the penalty reasonably accounts for the seriousness of the bank's alleged misconduct, according to a document filed in court on Wednesday.