| Business News |
Wall Street tumbles, led by financials
(Reuters)
 Reuters - Stocks tumbled more than 2 percent on
Thursday after a report showing yet another drop in U.S. home
sales prompted investors to take profits in financial shares,
which had rallied over the past week.
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Microsoft CEO backs Web spending, "done" with Yahoo
(Reuters)
 Reuters - Chief Executive Steve
Ballmer on Thursday defended Microsoft Corp's need to
make heavy investments in its Internet businesses but said the
company was "done," for now, with pursuing Yahoo Inc .
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Wachovia CFO Wurtz to leave
(Reuters)
Reuters - Wachovia Corp , which posted a
record $8.86 billion second-quarter loss Tuesday, said Chief
Financial Officer Thomas Wurtz will resign from the
fourth-largest U.S. bank after a successor is named.
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Home sales at 10-year low, jobless claims jump
(Reuters)
 Reuters - Jobless claims jumped and the pace
of existing home sales tumbled to a 10-year low as slowing
growth hit hiring and a glut of unsold houses weighed on real
estate, data released on Thursday showed.
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Morgan Stanley aggressively recruiting brokers
(Reuters)
 Reuters - Morgan Stanley said on Thursday
it is poaching brokers from Merrill Lynch and other
rivals, accelerating the expansion of its global wealth
management business during a period of turbulence on Wall
Street.
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Jobless claims jump as housing market gets weaker
(AP)
 AP - Two cornerstones of the economy — jobs and housing — sank to new depths Thursday, with unemployment claims bolting higher and home prices recording one of their steepest drops on record.
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| UK's Goldfrapp ambivalent about hip-hop, Madonna - 11, May 2008 |
By Christine Kearney
NEW YORK (Reuters) - They are credited with influencing the fashion style of Madonna but British electronica band Goldfrapp don't have much time for the pop diva or other big acts they will be playing with this summer.
Grammy-nominated Alison Goldfrapp and Will Gregory, whose fourth album "Seventh Tree" hit No. 2 in Britain in February, will share the big stages at two outdoor British music festivals with hip-hop mogul Jay-Z and Madonna.
"I think her fearlessness is amazing but I don't have particularly any admiration for her work," Goldfrapp, dressed in tight blue jeans, a shirt and sunglasses that were never removed, told Reuters in a recent interview.
On Sunday, the group -- acclaimed for their breadth of musical styles that canvas anything from pop to dance to glam rock -- kick off a tour of European concerts and summer festivals starting at BBC's Radio 1 music festival, where Madonna is also performing.
The straight-talking Goldfrapp will also be mixing with Jay-Z at Glastonbury, which has been criticized for straying from its roots by featuring the rapper as one of its top acts.
"People don't want it to become Americanized or kind of different, where you can't just wander around any more sort of half-naked with mud over you. I can see, understand that," Goldfrapp said about world's biggest open-air music and arts festival, which she dubbed "an English institution."
"I understand why people might start getting nervous that it will slowly wipe out the eccentric hippies ... Hip-hop is really conventional, I think," she said. "It's quite flashy, it's a lot about money, money."
Gregory, who hails from Bristol, England -- famed for breeding other electronic groups such as Massive Attack and Portishead -- said hip-hop was "about being wealthy, wearing a lot of jewelry" and was likely taken on due to Glastonbury's ever-growing reach.
(c) 2008 Reuters
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NEW YORK (Billboard) - One rapper replaced another atop the U.S. pop album chart Wednesday, while the soundtrack to the new movie "Mamma Mia!" soared four places to No. 3.
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SAN DIEGO (Reuters) - Like wannabe Dark Knights answering the call of the "bat signal," throngs of grown men wearing tights and capes converge this week to revel in all manner of superhero lore and merchandising at the 39th annual Comic-Con Convention.
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LOS ANGELES (Reuters) - The script never got in the way of a good fight as comic actors Will Ferrell and John C. Reilly improvised their way through family warfare in the movie "Step Brothers," which opens on Friday.
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SAN DIEGO (Reuters) - Like wannabe Dark Knights answering the call of the "bat signal," throngs of grown men wearing tights and capes converge this week to revel in all manner of superhero lore and merchandising at the 39th annual Comic Con Convention.
More
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LONDON (Reuters) - A film inspired by the 2005 London suicide bombings that killed 52 people explores the mistrust they stoked between communities and how Islamist radicals threatened to drown out the voice of moderate Muslims.
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LONDON (Reuters) - Actor Christian Bale, star of the new Batman movie "The Dark Knight," on Tuesday denied allegations of assault made by his mother and sister after he was questioned by London police.
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