News Today - July 15

* The U.S. recession is almost over but the recovery will be very slow, Thomas Hoenig, president of the Kansas City Federal Reserve Bank said Tuesday, while warning that even in this climate inflation is a long-term threat that should not be ignored.

* Intel Corp., the world's largest semiconductor company, reported a second-quarter loss on Tuesday, as profit was offset by a major fine imposed by the European Union.

* Standard & Poor's Ratings Services on Tuesday said its rating on Goldman Sachs Group was not affected by the bank's "very strong" second-quarter earnings report. "Although Goldman Sachs may well continue outperforming its close peers, we don't consider its first-half results to be sustainable," S&P said.

* Facebook - 'The Accidental Billionaires'