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THE WALL STREET JOURNAL previous Questions Swirl Around World Cup Crime Report June 11, 2010, 10:21 PM HKT Geeks in China, South Korea Fight ‘69 Holy War’ Much has been said about South Korean anger toward Beijing over China’s failure to make a timely expression of condolences for those killed in the Cheonan sinking, and its reluctance to accept the results of an international report that found Chinese ally North Korea responsible for the deadly incident. (See links here , here and here ). Reuters South Korean band Super Junior But the real battle between South Korea and China is being fought far from the halls of power in either Seoul or Beijing, and has nothing to do with the Hermit Kingdom. In what’s being called “69 Holy War” (more on that later), computer geeks on both sides of the Yellow Sea have been trading barbs and hack attacks for more than a week in an escalating cyberwar triggered by a boy
INDUSTRY- FINANCIAL SERVICES Microsoft profit rises 48%, tops Wall Street views By John Letzing MarketWatch 7/22/2010 4:35:00 PM Microsoft Corp. reports gains in profit and sales on improving demand for computers loaded with the company's software. See full story Amazon earnings jump, but miss estimates By Dan Gallagher MarketWatch 7/22/2010 4:22:00 PM Amazon.com reported a strong gain in net earnings for the second quarter on Thursday, but the final results missed Wall Street's estimates thanks to higher-than-expected costs for the period. See full story GM gets back into the subprime loan business By Alistair Barr MarketWatch 7/22/2010 3:59:00 PM But company will be lending money only for vehicles, not for homes. See full story
MarketWatch's top stories of the week By MarketWatch SAN FRANCISCO (MarketWatch) -- U.S. stocks had a roller coaster end to the week, falling enough on Friday to undo healthy gains from earlier in the week. The main driver in the market has been earnings and even though a lot of companies are beating analyst expectations with ease, very few are reporting results that show any true strength. Friday, a lot of the decline was attributed to a drop in oil and other commodities, which was triggered by a rise in the dollar. Stocks in the energy, materials and industrials sectors led the way lower. On Friday, the Dow Jones Industrial Average ( .DJI ) fell 109.13 points or 1.1% to close at 9,972.18. For the week the index fell 0.2%. The Nasdaq Composite Index ( .COMP ) dropped 10.82 points or 0.5% to close at 2,154.47 on Friday and logged a weekly decline of 0.1%. The broader Standard & Poor's 500 Index ( .SPX ) fell 13.31 points or 1.2% on the day to close at 1,079.60 fo