Standard Chartered CEO Rejects Claim of Wrongdoing
Peter Sands, chief executive officer of the London-based bank Standard Chartered rejects the claims of a New York regulator and says that the bank did not break U.S. sanctions and should not have its lender's license revoked.

 

HP Eliminates 27,000 Jobs, Writes Down $8 Billion
Computer product company Hewlett-Packard announced that it would be eliminating 27,000 jobs and is writing down the value of one of its businesses in an effort to boost profitability.

 

McDonald's Revenue Figure Flat in July
Fast-food mega-corporation McDonald's says one of its important revenue streams was flat in July, the worst result it achieved since April 2003, over 9 years ago.

 

Pinterest Allows Everyone to Register
Pinterest, the popular social media site for photography, will now allow anyone to register for an account. Until now, you had to receive an invitation from any already existing member to participate.

 

Randy Travis Arrested for Drunk Driving
American country music star Randy Travis was arrested for drunk driving and issuing threats to police officers near his Texas home after he ran his car off the road. Police say he was naked at the time.