U.S. stocks under pressure on oil, financial woes

Date: Tue, 01 Jul 2008 12:03:40 -0400
U.S. stocks under pressure on oil, financial woes

Stocks move lower on the first trading session of the third quarter, as
banking woes put European markets under heavy stress, and geopolitical
tensions fuel more gains in oil prices.

Economic Report: Manufacturing picks up in June, ISM says

The U.S. factory sector rebounded in June and showed a pickup in
activity for the first time since January.

UBS shares drop as tax probe continues, bank revamps governance

UBS shares beat a fresh retreat amid worries about a Justice Department
probe and potential further subprime-mortgage losses, as the Swiss
banking giant details plans for a corporate-governance overhaul.

IEA cuts five-year oil demand forecast as drivers scale back

SAN FRANCISCO
The International Energy Agency Tuesday cut its five-year forecast for
global oil demand, saying booming oil prices are causing wealthy
countries' drivers to park their gas-guzzlers.

InBev refuses to back down over $46 bln Anheuser-Busch offer

Belgian brewing group InBev says it remains committed to its $46 billion
offer for Anheuser-Busch, taking a step closer to a hostile bid as it
argues that a takeover would give shareholders a safer option than its
U.S. rival's restructuring plans.