Business News Headline - 19 August, 2008

Reuters - Hewlett-Packard Co results beat Wall Street targets as net profit rose 14 percent, subduing fears that slowing economies and a stronger dollar would weaken the world's biggest computer and printer maker and its rivals.

Reuters - U.S. wholesale prices shot up in July at the fastest annual rate in 27 years, while home builders cut back on construction as they worked through a glut of unsold homes, government data showed on Tuesday.

Reuters - U.S. stocks fell for a second straight session on Tuesday as credit worries hit bank shares and a report showing inflation remains a threat despite slower growth stoked the market's anxiety.

Food prices around the world have hit record highs — and that's starting to take a toll. For example, some experts worry those left hungry in Ethiopia will suffer permanent physical and mental disabilities, such as chronic illness and lower IQ.

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Pastor Rick Warren asked both presidential candidates about their definition of "rich" this weekend. They gave very different answers. Jared Bernstein of the Economic Policy Institute offers his definition of rich, middle class and upper middle class.

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