Dow falls 80 on Fed fears; Whole Foods deal blocked

CBS News

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[Music] global warming and a plan to cut greenhouse gases will be high on the agenda at the G8 Summit which kicks off today in Germany the g8's chairperson has said she wants an agreement to cut emissions in half by 2050 a proposal the US is resisting Dell is throwing in the towel when it comes to making televisions the personal computer giant will stop making TVs just four years after breaking into the business Dell says it just couldn't generate sales for its LCD display televisions goodbye interest rate cut hello hike that's what investors are wondering after Federal Reserve chairman Ben banki said inflation remains a threat to the economy that had investors heading for the exits the Dow Industrial slid 80 points the NASDAQ Composite dipped seven Whole Food's proposed buyout of its smaller rival Wild Oats markets is being challenged by the government the FTC has filed a lawsuit blocking the merger saying the combined company will control too much of the Natural Foods Market Whole Foods plans to fight that suit and one insurance company is helping parents keep tabs on Young Drivers safe Co insurance has launched a program that uses GPS to notify parents when their kids speed break curfew or drive outside and agree town area about 19 teens die in car crashes every day teen Insurance costs $25 a month it's available in 44 States that's your money watch log on to cbsnews.com for more business headlines in New York I'm Alexis christopherus

Dow slides 129 on inflation fears; housing outlook cut

CBS News

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[Music] the housing market slump is expected to get worse before it gets better that's the prediction by the National Association of Realtors the group is lowering its forecast for the housing market for this year and next it says home resales will probably fall more than 4 and a half% this year and new expected to slide more than 18% on Wall Street inflation fears are getting the best of investors and many are now betting on an interest rate hike in in the near future the Dow Industrial slid 129 points while the NASDAQ Composite gave back 24 Walmart is expanding its Financial Services offering customers a prepaid debit type card the Walmart money card is aimed at customers who don't have a bank account it will allow holders to have part of their weekly paychecks credited to the card with a $3,000 limit and that morning bowl of Cheerios is going to cost you General Mills says starting June 25th it will raise the price of its cereal to match increases by competitors the maker of Cheerios and lucky charm says the price per box will actually fall but the boxes will be smaller so you'll be paying more that's your money watch click on cbsnews.com for more in New York I'm Alexis christofis