Business News Headline - 15 August, 2008

Reuters - Lehman Brothers is in talks for potential sale of its $40 billion portfolio of commercial real estate and securities in an effort to bolster its finances following costly credit-related write-downs, the Financial Times said in its online edition.

Reuters - J.C. Penney Co Inc and Abercrombie & Fitch Co reported quarterly profits that beat Wall Street expectations on Friday, but came up short in their earnings forecasts, joining other U.S. retailers who fear a deeper slowdown in consumer spending toward year's end.

Reuters - Two top Federal Reserve officials on Friday voiced concern about weak U.S. economic growth for the rest of 2008 and said inflation, while a worry, should start to fade over time.

Olympic athletes have not disappointed fans at this year's games in China. But how does NBC's coverage measure up to that of past games? We pick apart the presentation of the Olympic games in Beijing.

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The tensions between Russia and Georgia could affect U.S. imports of oil and gas from the region. The uncertainty has U.S. investors worried aboug how American consumers will be impacted.

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