Financial Up Date

Top EU negotiator blasts U.S. as countries grapple with WTO talks failure: The United States, Europe and other commercial powers grappled Wednesday with the magnitude of their failure to reach a new global trade pact, and traded blame for the collapse of seven years of talks.
http://money.canoe.ca/News/Other/2008/07/30/6307231-ap.html

Study: China Trade Deficit Cost U.S. Millions Of Jobs: China's soaring trade deficit with the U.S. cost Americans 2.3 million jobs and $19.4 billion in lost wages between 2001 and 2007, according to an Economic Policy Institute study released Wednesday.
http://www.manufacturing.net/News-Study-China-Trade-Deficit-Cost-US-Millions-Of-Jobs.aspx?menuid=36

U.S. inflation to be 6 % by 2009: CIBC: He said the U.S. Federal Reserve will have to raise interest rates 200 basis points by the end of 2009 as a result.
http://www.canada.com/ottawacitizen/news/story.html?id=1baefa3f-1ece-4464-8fe1-e75f9074ec51

America's house price time bomb: With the American housing market in its worst crisis since the Great Depression of the 1930s, President Bush is authorising new legislation to pave the way for massive new government intervention designed to slow the slide.
http://news.bbc.co.uk/2/hi/business/7529277.stm

Property economist warns of 25-year slump: Bearish analyst Capital Economics said house prices would fall 35% over the next three years and provided the market was stabile, prices would not reach 2007 levels until 2036.
http://www.citywire.co.uk/adviser/-/news/property-and-mortgages/content.aspx?ID=309901

Consumer confidence plunges near historical low: ABC: American consumers' confidence plummeted in the latest week, with only 10 percent of respondents in a recent poll having a positive view on the economic outlook, a report showed on Tuesday.
http://www.reuters.com/article/marketsNews/idUSN2937351620080729?rpc=401&