Miami businessman Edward Hugh Okun is facing 400 years in prison when his two-day sentencing hearing starts on Aug. 4.

Asian stock markets rose Wednesday as investors shrugged off more gloomy signs in leading regional economies - China, Japan and South Korea - amid the deepest global slowdown in decades.

Click here to see which banks in our area have gotten Federal Funds from the TARP Program.

The government unveiled a bold plan Sunday to rescue troubled Citigroup, including taking a $20 billion stake in the firm as well as guaranteeing hundreds of billions of dollars in risky assets.

    NEW YORK (AP) - Wall Street looked to open lower Tuesday after
homebuilder Toll Brothers Inc. said it couldn’t project a profit
for 2009 and Starbucks Corp. reported earnings missed Wall Street
expectations.

    HONG KONG (AP) - Stock markets in Asia declined and European
markets opened lower today as the luster wore off China’s nearly
$600 billion bailout of its own economy.

The government is providing new financial
assistance to troubled insurance giant American International
Group, including pouring $40 billion into the company in return for
partial ownership.

China’s announcement of a major economic
stimulus may ripple all the way to Wall Street.

The results came in well above Wall Street’s expectations. Shares jumped $3.33, or 6.2 percent, to $57.20 in aftermarket electronic trading. The stock finished the regular session down $1.99, or 3.6 percent, to $53.87.

Bernard Sands, a credit reporting company that advises manufacturers whether to ship goods to retailers, has pulled it recommendation from Circuit City Stores Inc. after the company reported last week $239 million in losses for the second quarter.

The move is part of the company’s announcement last week, that it has launched a comprehensive review in order to operate as a standalone business while it continues to explore strategic alternatives.

But Wachovia Securities spokesman says analyst’s report is just speculation

J. Alfred Broaddus Jr. says the severity is equal to the savings and loans crisis of the late 1980s and early 1990s

Lehman Brothers says it will sell a majority stake in its prized investment management business and spin off its commercial real estate operations.

Ralph Torning, an international trade manager for the Virginia Economic Development Partnership, said companies are short-changing themselves if they don’t export their products and services to other countries

Shareholders as of Sept. 15 will receive a dividend Oct. 10 of 32 cents per share, up from 29 cents.

Henrico-based firm’s $1.52 closing price is lowest in 20 years

Broker, mutual funds may be put on block after loss, says CEO

Marshall N. Morton, the company’s president and chief executive officer, blamed the results on a weakening economy and a continued challenging business environment in the publishing division.

James River Coal Co. is acquiring nearly 20 million tons of central Appalachian coal reserves from Cheyenne Resources Inc.

Investor Mark J. Wattles expects an announcement from one of the three companies to be made within a month.

Sales fell 7.4 percent in the quarter that ended May 31. The Henrico County-based retailer also said it has suspended future dividend payments.

About 300 shareholders attended the annual meeting of cigarette maker Philip Morris USA’s parent company this morning at the Greater Richmond Convention Center.  It was the company’s first annual meeting in Richmond since 2003.

Moore & Giles, based in Forest, works with about 15 tanneries in Europe, Asia and other locations to develop long-lasting leather full of natural beauty

Elmseed Enterprise Program provides small loans and intensive technical support primarily to low income and other disadvantaged entrepreneurs.