News Wrap - July 16

The Federal Reserve expects the economy this year will sink at a slower pace than it previously thought, but that unemployment will top 10 percent, according to a forecast contained in the latest Fed minutes

World's largest maker of mobile phones Nokia posts 66% drop in profits , lowers its market-share view as second-quarter profit sinks and margins get pinched

Fed says U.S. economy is still vulnerable to shocks

How China Is Behind Almost Every US Market Positive

Subscribe in a reader