stock for santa clara chip maker intel is up today despite cutting its sales forecast for quarterback. fresh evidence that a slow economy is putting a damper on the back to school shopping season. intel is seeing weaker than expected demand for consumer computers. blockbuster filing for chapter 11 bankruptcy next month. the chain that dominated home video rental business has racked up billions of debt. they have moved toward online rental services like netflix and movies on demand. blockbuster hopes to come back and continue after restructuring and offer movie rentals. >> deadlines in the final step to complete cap the gulf oil spill. >> also rebuilding the big easy five years after hurricane "katrina"ocked new orleans, we'll sh you how much the city has rebut and the concerns that are still lingering. >> and trapped alive deep underground. the incredible first video of dozens of miners in their message to their rescuers and families. [ man ] he's got nothing but open field ahead ohim! ♪ [ female annouer ] introducing tv... you can take with you. u-verse now letsou download, watch hit

. >> stock for santa clara chip maker intel is up despite cutting sales, it's fresh evidence a slow economy is putting a damper on the back to school shopping season. interjelz it's seeing weaker than expect teed mand for consumer computers. and blockbuster sold hol -- told studios it's preparing to file for chapter 11. the chain once dom naigt home video rental business racked up $1 billion in debt. customers moving away from renting at retail locations as you know. you're probably doing this as well and towards online services. blockbuster hopes to come back after restructuring and continuing to offer new rental autos and federal reserve chairman says the fed will do what it takes to keep the economy moving forward gave a speech this morning saying the fed will consider making another large scale ser pur chas of securities if the slowing economy were to begin deteriorating. the remarks after the government reported this morning the economy slowed sharply in the second quarter. >> this point, you know, we're not in these quarters we're seeing actual growth declining. and we're still in the

chip maker intel says it has agreed to buy computer-security software maker mcafee inc. $7.68 billion. intel corp., which is based in santa clara, "that security is now a fundamental component of online computing." both boards of directors have unanimously approved the deal. the deal still requires mcafee shareholder approval and regulatory clearances. mcafee is up $17 a share. other stories we are following security software mcafee who is now being acquired by intel or release the list of dangerous movie stars to search for online the top 30 celebrities cameron diaz, julia roberts, adjusted the be all. in euless carries a this addiction all itself in means those celebs are lures to sucker people in to visiting malicious web sites. we will be right back authorities like you to put down the cell phone when you drive but not everybody got the message yesterday was the second day on the crackdown. stanley roberts has road around. >> on my way to meet up with chp i watched this officer stop somebody 4 cellphone violation. the same officer was was to meet up with zero toleranc

the for-profit maker intel dropped out to make its own computer, the classmate. and there are reasonable questions as to whether laptops should be a priority in very poor communities. now a redesign. the silicon valley chipmaker marvel is working with the one laptop charity on a new version, a low-cost tablet simulated here. marvel today makes chips for everything from the blackberry to the audi a-8. 10 billion chips sold. one of the founders of marvel came to the united states at age 17. she's been on the forbes list of one of the richest women in the world. and she played semi pro basketball. joined by john fort of cnbc, sarah lacey of tech crunch. we see the pictures of the new possible one laptop per child. if you can build such a thing and look so marvelous, why not just sell it to us and make much more money. why give it away or sell it at very low cost to developing nations in. >> well, great question. i look at nicholas, the leader, to try to draw the education of the world. so his idea first applied to the developing world. but absolutely you're right. w

stock for santa clara chip maker intel is up today despite cutting its sales forecast for the currentuarterback. fresh evidence that a slow economy is putting a damper on the back to school shopping season. intel is seeing weaker than expected demand for consumer computers. blockbuster filing for chapter 11 bankruptcy next month. the chain that dominated home video rental business has racked up billions of debt. they have moved toward online rental services like netflix and movies on demand. blockbuster hopes to come back and continue after restructuring and offer movie rentals. >> deadlines in the final step to complete cap the gulf oil spill. >> also rebuilding the big easy five years after hurricane "katrina" rocked new orleans, we'll show you how much the city has rebuilt and the concerns that are still lingering. >> and trapped alive deep underground. the incredible first video of dozens of miners in chile and their message to their rescuers [ female announcer ] mission presents well-rounded family meals for $10. just a few simple ingredients and great-tasting mission flour torti

chip maker intel acquiring mcafee for more than $7 billion, and bhp billiton, the mining company, ismaking a hostile bid for potash for $39 billion. that's a bet that demand for fertilizer will rise in developing countries. >>> we're at the tail end of earnings season with companies reporting profits. wal-mart beat analyst expectations. hewlett-packard met its preannounced expectation. >>> the corporate news remained fairly strong. the economic news in general has want been, so how do we get out of the malaise? joining us now is laura tyson, and member of president obama's economic advisory board. wonderful to have you on the program. welcome back. >> thank you very much, maria. >> just about every measure of the economy looks weak. initial jobless claims to a nine-month high. gdp not growing at nearly the rate many had hoped. the consumer as well fragile. what needs to be done to turn this economy around in your view? >> well, i think it's very difficult to do, and i want to start with that. this is not an easy situation. we are in a very treacherous recession because it started wit

. >>> silicon valley chip maker intel made a surprise announcement that it plans to buy anti-virus software maker mcafee for $7.7 billion. the move raises questions about consolidation in the technology sector. >>> well, in a moment, part 2 of my conversation with senator barbara boxer. >> belva: last week i spoke with barbara boxer about jobs and the recession. this week's conversation centers on immigration and the battle over partisan power in the upcoming election. the three-term u.s. senator is face the most challenging race of her career against former hp ceo carly fiorina. here's the second part of our conversation. >> as much as the president talked about immigration being an issue, something to be solved, nothing has come from the congress, nothing has passed his desk, nothing has even come out that anybody said had a chance of passing. do you think there's a chance that there could be immigration reform legislation this year before the midterm elections? >> i would like to see us finish immigration reform once and for all by the end of the year. belva, we -- i had the opportunity

chip maker intel says it has agreed to buy computer-security software maker mcafee inc. for $7.68 billion. intel corp., which is based in santa clara, calif., said the deal highlights "that security is now a fundamental component of online computing." both boards of directors have unanimously approved the deal. the deal still requires mcafee regulatory clearances. if you loan mcafee stock it's like you've won the lottery. mcafee was under $30 a share yesterday intel is offering $48 a share we've seen shares up $17 in trading right now as mcafee trading $48 a share. mcafee shares up 50%. the news has been the economy unemployment claims 500,000 claims were filed for the first and last week. they were expecting a drop it was the highest level in nine months the down down 117 points we will be right back [ man ] i was deciding what to do with my citi thankyou points when it happened... [ glass breaks ] ...again. ♪ [ child ] run! [ man ] first it was the mailbox. then my squirrel. and now, this. so i used my points to make a donation to get the park down the street built. whe

intel one of the most widely anticipated companies buying other companies. they could take mcafee software embedding it into the chips they sell to computer makers sort of an all-in-oneistributor for that kind of device. mcafee had actually intel had about $18.3 billion in cash going into the deal. that would make it the 13th richest s&p company. only 300 companies with the silicon valley. cash to spend being cisco, google and apple fueling wall street this morning but investors also dealing with head winds out there in the form of higher unemployment claims. weekly jobless benefits spiked by another 12,000 to a half million over the past week. that's the highest total since november of last year. clearly, there has been no improvement in the job market. that will weigh on the economy going forward. dow, nasdaq and s&p down. looking at those two shares of intel and mcafee, right now intel is down 2.5%. that typically happens with a company that's making the purchase. their earnings will take a hit in the short term because of that since they are spending the money. mcafee meanwhile up 57% to just over $47. the deal basically puts a people are you know of about 60% ov

santa clara-based chip maker intel is buying tech security company makfee for $72 billion. >> new jobpplications for jobless benefits jumped, the highest level since november. >> with more financial news, here's bloomberg reporter jane king with the "moneyscope" report. >> good morning. four months after recalling children's tylenol and dozens of other kids' medicines, johnson and johnson is reorganizing how it oversees manufacturing put quality offices over each unit. not planning any changes to its $1 been get meals but the company maying forced to raise prices because of higher commodity costs. conagra and sarah lee have already warned prices will go up. other brands from proctor and gamble, the company has been cutting prices to win back customers to switch to cheaper brands during the downturn. prices about 10% lower on some of its products. general motors has plans to sell shares to the public and pay off the government bailout. now it has to convince investors to look past the marketing share. financial controls still aren't effective a year after coming out of bankruptcy. did

there are regular slides with the s and p and they're up last month and the area of the chip maker intelt to from the german makers and intel says it will pay $1.4 billion for it. if went to help with the internet connectivity. meanwhile president barack obama says that they should be making a package for small businesses, is the first order of business once he gets back from his vacation. this is the latest never newsroom. mark? >> kinky we're following the latest with former major-league pitcher who is facing charges of perjury and this shows that the congressional hearing in 2008. he said that he had not used steroids or hormones. his teammates entrances and he did use steroids. he was looking forward to having his day in court is scheduled for 11:00 a.m. our time and he is pleading not guilty in washington. will be right back as the kron4 news continues after this break. it is a live look out side at the golden gate bridge traffic is light in the napa and marin county. welcome back there is light traffic this time the morning ended is 57 degrees. as chilean salmon sale. we're droppin

intel announced it's buying security software maker mcivee for $76 billion. th are based in santa clara. intel says the acisition will help the chip maker expand to smart phones and other wireless devices. the bay area housing market still sluggish. tracking from date at that quick says it slumped 23% last month compared to the same time last year. 6800 homes were sold. that's the lowest level in 15 years. experts say people stopped buying as federal tax credits for first-time buyers expired. >> caltrain is asking riders to help make very tough decisions. the agency is holding several public meetings tonight to ask riders for potentially drastic cuts a fare hikes. among the options, eliminating all weekend tra service, cutting all noncommute time weekday trains and cutting all trains south of san jose. the agency is also considering raising one-way fares by 25 cents an increasing the price of the go pass. need to close a $12 million budget gap. >> the bureau of la management has now suspended the permits for all future events for the promoterhat ran last weeke

intel announced it's buying security software maker mcivee for $76 billion. th are based in santa clara. intel says the acquisition will help the chip maker expand to smart phones and other wireless devices. the bay area housing market still sluggish. tracking from date at that quick says it slumped 23% last month compared to the same time last year. 6800 homes were sold. that's the lowest level in 15 years. experts say people stopped buying as federal tax credits for first-time buyers expired. >> caltrain is asking riders to help make very tough decisions. the agency is holding several public meetings tonight to ask riders for potentially drastic cuts and fare hikes. among the options, eliminating all weekend train service, cutting all noncommute time weekday trains and cutting all trains south of san jose. the agency is also considering raising one-way fares by 25 cents and increasing the price of the go pass. need to close a $12 million budget gap. >> the bureau of land management has now suspended the permits for all future events for the promoter that ran

. >> the world's largest maker of computer chips, intel, has reached an agreement with the u.s. federal trade commission to stop paying companies to use its chips exclusively. it was accused of abusing its dominant market position to discourage competition. they have been banned from withholding payment from firms doing business with other clients. u.s. nato forces in afghanistan commander david petraeus has emphasized the need to reduce civilian casualties, stressing the right of nato-led forces to defend themselves. model naomi campbell will give evidence on thursday at the trial of former liveriberian president taylor. campbell has been forced to testify about allegations that he gave her a blood diamond from sierra leone after a celebrity dinner in 1997. she has previously denied the allegation. >> naomi campbell, completely at ease on the catwalk, but unwilling to appear as a witness in a politically charged trial. neither does she like being asked about diamonds. >> i am not going to speak about that, thank you. i am not here for that. >> with charles taylor -- >> thank yo

intel is buying security software maker mcafee for more than $7.5 billion in cash. mcafee surged 57% while intel dipped 3.5%. in earnings, sears tumbled more than 9 % after the chain reported a wider than expected quarterly loss. williams-sonoma end-of-year forecast, including holiday shopping, fell short of expectations, sending its shares down to over 2%. and, finally, proving the far-reaching effects of china's recent economic growth, if you like pricey wine, you'd better buy now before prices climb even higher. christie's auction house reports sales are up over 18% over last year with 43% of the sales coming from asia. >>> roger clemens faces the music, the halos spank the sox, and a multitalented college football coach. >>> plus, the bronx bombers prove they can also do it with their gloves. your early morning sports headlines are straight ahead. >>> as we head into the weekend, the temperatures will be the big story. you could see some near record highs. your weekend forecast is coming up. you're watching "early today." sweet n' sour filled twizzlers. the twist

intel is taking center stage on wall street this morning. >> bloomberg reporter courtny done ahoe joins us live for the morning's "moneyscope" report. hi, courtny. >> good morning. definitely is the word's largest chip makerer. intel buying infinity technology for $1.4 billion. looking to gain a foothold in the mobile phone business. struggled to crack it more than a decade. comes with shares of intel falling on that news. we have the latest details on the bidding war for three par hewlett-packard. and this is the third time saying they'll pay $30 bucks a share for the data storage provider. tops intel's offer. the growing urgency for h. p. acquisitions to fuel growth. taking a look where shares are trading now. you see hewlett-packard up slightly. also dell and three par other on that news. overall stocks are lower, too. that's a report showing consumer spending rose more. you see the dow down 7 points. the s & p down slightly and also the nasdaq's lower, too. your bloomberg silicon valley index bucking the trend in gaining. see it up three points. that's business news live at the new york stock exchange. >> courtney, thank you so much. >> mining officials in chile say 35 trapped miners will have to help

tom, intel said today it's buying the wireless business of german chip maker infineon technologies. >> tom: susie, the price tag on that deal is $1.4 billion in cash. it's the second deal for intel in as many weeks. the chip giant's paying over $7 billion for mcafee, the big computer security firm. also today, 3m agreed to buy cogent, maker of a different kind of security product-- devices for fingerprinting and biometric identification-- for nearly $1 billion. american companies are sitting on a pile of cash. but they're not using it for hiring, they are using the money for deal-making. erika miller has details. >> reporter: consumers are not the only ones holding on tightly to their cash these days. corporations are too. non-financial companies in the standard & poor's 500 have a record $837 billion in cash in their coffers. that's enough to pay 2.8 million workers-- basically, the entire population of chicago-- $100,000 a year for three years. but one of the few places companies are spending money is on is on mergers and acquisitions. with one day left, august already has the highe

intel. the federal trade commission says it will detail a settlement with the giant chip-maker tomorrow morning. last december, the agency filed a complaint against intel, alleging a decade-long campaign to shut out rivals and dominate the computer chip market. while the f.t.c. can't impose financial penalties, tomorrow's settlement could be a game- changer for intel's business model. >> suzanne: the pace of consumer spending stalled in june as more americans held on to their cash, and fewer people got raises. the commerce department says personal spending was unchanged in june after rising just slightly in may. income growth was also flat in june, the weakest in nine months. but, economist maury harris is optimistic consumer spending will grow between 2.5% and 3% in the second half of the year >> what drives the economy forward are the incomes that have been created by recent economic activity. we have seen a pick up in corporate income and household income in the second quarter, not in every month, but in most months in the first half of the year, and those higher incomes provide the wherewit

communication chip maker broadcom fell 6% on heavy volume. intel shed another 2%.intel is down 6% since monday. one bright spot in the market came thanks to the american department store shopper. the my macy's strategy at macy's appears to be working. profits were six cents above forecast as its gross margins grew. the my macy's program customizes merchandise for stores based on their location. erika miller reported on the strategy in november here on n.b.r. macy's was the second-best- performing stock within the s-&p 500 index, rallying almost 6% on heavy volume. shares have now eclipsed last month's high. general motors is one of the world's biggest automakers. tata motors makes about a tenth the number of vehicles as g.m., and its luxury brands are driving profits. the company is based in india, but it has stock that trades in the u.s. those shares are at more than a three-year high. its luxury brands are jaguar and land rover. and that's tonight's "market focus." >> suzanne: as tom mentioned, stocks sold off sharply today on increased worries the recovery is fa

the federal trade commission has sued the semiconductor giant accusing intel of bullying computer makersto avoiding rival company chips. the company was also accused of sabotaging attempts by other chipmakers to get their chips to work with intel's. cross-valley rival advanced microdevices has been among intel's most vocal critics on this issue. the ftc has a news conference scheduled this morning. >>> also, there is a new budget plan that's proposed in sacramento. it comes from democrats at the state capital. republicans are rejecting it. the proposal would reduce the sales tax in california but it would increase the vehicle license fee and personal income taxes in nearly all brackets. democratic leaders say that would save taxpayers money. but republicans say the plan rejects sensible spending cuts and would actually hurt the middle class. california is now in its 35th day without a budget. >>> it's 5:36. investigators in san jose are trying to track down some animal killers. three decapitated goats were found just outside an entrance to alum rock park. the goats' bodies had been stuff

long-time claims from rival advanced microdevices that intel used rebates with computer makers to use chips instead of rivals like aamd saying it stifled competition. in a few minutes we'll find out what intel will have to pay as a fine. on that news, intel shares up just a little bit. > thank you very much, jason brooks with kcbs and cbsmoneywatch.com. >>> time now 6:49. after just four years, twitter has reached a major milestone. >> can't get my mind around this number. 20billionth tweet posted on that site. the 20 billionth over the weekend sent by a graphic designer tokyo. the user says he has been getting messages interest people all over the world since he made the post. the site reached 10 billion tweets in just march. less than five months later that number has doubled. around 300,000 users sign up for new at which timer accounts every day. >> i was surprised that it's already been around four years. >> just amazing. guess i'm behind the times. >> all right. >>> new full body scanners are now in use at oakland international airport and the scanners will be in terminal one. th

. >>> intel is buying the wireless division of a german chip maker for $1.4 billion. ey issued a joint statement saying it will operate as a stand alone business. intel adds it is part of its strategy that will expand with fie and offerings. it is exoacted to close by march of next year. >> there is no final curtain yet for san francisco's 100- year-old clay theater. the single screen movie theater was due to close after last night's final film. however the landmark theater chain says it worked out a short-term deal to keep et open for a while longer. the owner is hoping to find a permanent solution. smaller theaters like it have a hard time drawing major films and mostly rely on a loyal public. >> san quintin prison officials say an inmate just saved from the death penalty has committed suicide. 70-year-old george hat ton mighty has been on death row since 1989 for the murder of a san andres a woman. last week his sentenced was reduced to life without parole after a psychological evaluation. he was found dead in his cell on saturday. he apparently hanged himself. >>>

intel agreed to a major antitrust settlement with the governor requiring computer chip maker to changeiness in several key ways. there is a look at change sq z.what led to them. >> intel accused of using strong arm tactics to keep customers from buying chips from competitors. the chips are found in about 80 computers. evidence shows intel refused to sell chips to some buyers or entirely stop buying from competitors. intel paid some customers not to buy competing chips when chips were the superior product. >> there the company says it doesn't do anything elly or wrong. one allegation is that we would hinder competitors by making changes in our products just to hinder them. but we didn't do that. what we agreed to do is guarantee we'll never could that gene two rif yls are expected to benefit from this settlement. >> and this is pretty much been restricted to a 20% market share. that is sort of the essence of the case. because... that -- you know that that share has and is varied some what. it's been steady throughout the years. >> amd did not respond to a request for an interview. and i

about an hour ago maker announced buying into the security software business. intellill pay $7.7 billion for ma coo fee which also has headquarters in santa clara. had more than $2 billion in revenue last year. the boards have approved the deal and now requires the approval of shareholders. >>> taking a live look of the big board on wall street as expected the numbers are down this morning. the dow currently down 69. the nasdaq is down 10. s&p 500 is down almost 7. there was an initial boost in the futures because of news about intel buying macfee but unemployment numbers. claims highest level in nine months. the reports of the number of initial claims jumped 12,000 to a half million. economists had been expecting a drop. this renews concerns over the pace of the recovery. continuing claims fell by 13,000. but analysts say some of that may be because people are discouraged and have simply stopped looking for new jobs. >>> time now 6:53. we'll take a quick break and be right back. >> ...berber carpet. it was a whole bowl of stew. nooo. why? i could have saved this one.

and intel says it will operate them as a wholey-owned subsidiary. the chip maker says it will help them expand to securities software. >> and the brother of a san francisco giants player pleaded not guilty to dui and hit and run charges for a series of crashes in danville. police say he crashed into a bicyclist, a pedestrian, a pickup truck and a light pole within minutes on the morning of august 1. three people ended up needing medical treatment. his mother is -- brother is an outfielder for san francisco gichblts bail is set at $200,000. he's going to return to court next month. >> an end of the summer crack down on drunk drivers gets underway this weekend in two counties. santa clara county launched it's avoid the 13 campaign a plea from the father of a 4-year-old boy kill bid a drunk driver last month. jesus cortez urge foamed think twice before drinking and driving. >> my family is not the same. because we miss our son very much. because he was a very happy child. >> in addition to crack down in santa clara county, 25 contra costa county law enforcement agenc

intel has agreed to buy computer security software maker mcahave i for nearly $8 billion. stock futures are falling off unemployment applications reached the half million mark last week for the first time since november. how investors are reacting in a live report from the new york stock exchange in 15 minutes. >> this morning a major sign the war in iraq is beginning to wind down. the last u.s. combat troops left overnight crossing the border into kuwait for flights back to the u.s. john hendron from washington with the latest. good morning, john. >> good morning, terry. as the u.s. military leaves iraq, the obama administration claims to fill the void with an army of civilians bringing the mission to a close. the last combat brigade is gone from iraq. >> we're going home! we won! it's over! >> the fourth striker brigade crossed over into kuwait last night. as the u.s. mission officially turns from war to diplomacy. >> our commit in iraq is changing from a military effort left by our troops to a civilian effort led by our diplomats. >> comes after the august 31st deadline

intel has faced during a decade of disputes. the government accused the semiconductor giant as bullying computer makers to protect its domince.t agreed not to pay computer makers for avoidin rifle chips or retaliing when they do. they maintain it wasn't dog those things anyway. >> president obama saying the operation of the gulf oil spill finally close to coming to an end. he's optimistic after b.p. announce its latest procede appears to be working. crews began pumping drilling mud into the blown out well overnight pushing the oil back toward its source for the first timeince last april. despite the progress, the recovery efforts aren't over yet. >> we have treverse the damage that's been done. we will continue to work to hold polluters accountable for e destruction they caused. make sure folks harmed are reimbursed and we're going to stand by the people however long it takes until they're back on their feet. >> president obama praised a federal report that says only about a quarter of the spilled oil remains in the gulf. nearly threeuarters of the oil, 152 million gallons has been conined, cleaned up or disappred. >> the att

intel has faced during a decade of disputes. the government accused the semiconductor giant as bullying computer makers to protect its dominance.t agreed not to pay computer makers for avoiding rifle chips or retaliating when they do. they maintain it wasn't doing those things anyway. >> president obama saying the operation of the gulf oil spill finally close to coming to an end. he's optimistic after b.p. announced its latest procedure appears to be working. crews began pumping drilling mud into the blown out well overnight pushing the oil back towards its source for the first time since last april. despite the progress, the recovery efforts aren't over yet. >> we have to reverse the damage that's been done. we will continue to work to hold polluters accountable for the destruction they caused. make sure folks harmed are reimbursed and we're going to stand by the people however long it takes until they're back on their feet. >> president obama praised a federal report that says only about a quarter of the spilled oil remains in the gulf. nearly three-quarters of the oil, 152 million gallons has been contained, cleaned up or di

accused the semiconductor giant of unfair practices like bullying computer makers into avoiding other companies' chips. intel europe. >>> also, san jose voters will decide on three november ballot measures all aimed at reducing spending or generating more money for the city. one would limit the role of arbitrators in police and fire labor disputes, another giving the city council more flexibility to make changes in city worker pension plans. the third calls for a 10% tax on medical marijuana. >>> and a federal judge today planning to release his ruling on california's prop 8, the voter-approved measure that limits marriage to male-female couples. >>> we'll have traffic and weather in just a moment. ,,,, vegetables are naturally low in calories. ,,,, v8 juice gives you 3 of your 5 daily servings. it's a tasty, nutritious way to make this number go up... and help this one go down. v8. what's your number? it's tough to get enough servings of vegetables every day if you don't always like the taste of them. good thing v8 v-fusion juice gives you a serving of vegetables hidden by a serving of fruit. [woof woof] >>

intel has reached a settlement with the u.s. federal trade commission. the company was accused of intimidating computer makers not to use chips made by rivals. the f.t.c. said as a result, computer prices did not fall as fast as they might have. intel has denied the charges, but under the settlement, it agreed to change its business practices. for the record, intel is a funder of the "newshour." 40 of america's wealthiest people pledged today to give away at least half of their wealth. they signed "the giving pledge", started in june by investor warren buffet and microsoft co- founder bill gates. the new additions to the list include new york city mayor michael bloomberg, c.n.n. founder ted turner, energy tycoon t. boone pickens and "star wars" creator george lucas. they've agreed to donate 50% or more of their billions, either during their lifetimes or after death. those are some of the day's major stories. now, back to gwen. >> ifill: b.p. reported success today in its effort to end the gulf oil spill once and for all. that word came 107 days after the crisis began. political leaders welcomed the news, but

. >>> intel is buying the wireless division of a german chip maker. companies issued a joint statement saying it will operate as a stand alone business. it is part of its strategy to expand its current offerings. the deal is expected to close by march of next year. >> okay. time now 6:50. it was no routine night at the emmys. newcomers took center stage. up next we will give you a recap of some of emmy night's big winners. >> and what researchers are staying about head injuries among student athletes. find out what parents need to watch out for. it's not back-to-school, it's forward to what's next with an hp netbook, samsung reality or lg cosmos for under $20 after rebate. >>> welcome back. time now 6:53. you might say it was a gleeful night at this year's emmy what ward shows. >> and the emmy goes to jane lynch -- [ inaudible ] [overlapping speakers] >> -- hit show glee took home the award for outstanding supporting actress in the comedy series, by the way glow's creator was also honored. and the three year winning streak for 30 rock ended after mode

the car maker reported a net loss of $38.5 million the last three months but still plans to introduce an electric sedan in 2012. >>> the silicon valley chip wore just got a lot calmer. intel said it will stop using threats to dent rival businesses. the chip maker agreeing as part of a settlement with the u.s. federal trade commission to give those rivals access to its chip technology for six years. the ftc says we consumers probably won't notice an immediate change in chip prices. intel has long argued against the charges pointing out chip prices have been falling for years. >> thank you, scott. >>> for the first time ever, san francisco's cabbies are getting a chance to buy and sell coveted taxi medallions. under a new pilot program, retiring drivers over 70 can sell their medallions to drivers on a waiting list. the city says each medallion will catch $250,000, generating badly needed funding. transit leaders today celebrated the first sale from a medallion holder to a driver who's been on the waiting list for 14 years. >> it means relief, it means happiness, it means excitement. after all these years that i've been waiting on the waiting list, it's finally came true. >

intel here today. the federal trade commission announcing the chip maker has agreed to settle its anti-trust case.'s a press conference at the top of the hour. more details then. and motorola planning to release a tablet computer based on google android software. it will be similar in size to the i-pad and feature television services marketed with verizon. the tablet will be available in time for holiday shopping. speaking of shopping, the national retail federation says the average family will spend about $600 on back to school. one place you can get away with spending less is i-hop. i-hop's bringing back its kids eat free offer. kids can eat a free meal with each purchase of an adult meal every day this month from 4 p.m. to midnight. the just for kids menus, cheeseburgers, chicken strips and funny face and silver dollar pancakes. i'm jane king. i want a funny face pancake. shouldn't be just for kids. >> i'll make one for you. >> thanks a lot. >> good! >> a huge piece of public art is going up right now along the san francisco waterfront. this is video of the installation of the 40 foot ray gun g

intel's digital health group. today, alcoa led the s&p materials sector higher. alcoa completed the buyout of traco, a maker of windows for commercial buildings. on the nasdaq, guess what company is now the top seller of mobile phone operating systems? according to research firm canalys, it wasn't apple. it was google and its free android operating system. both stocks getting a lift today. and what about research in motion? saudi arabia and united arab emirates see the blackberry as a national-security threat, and want to suspend blackberry service later this year. closer to home, rimm is readying a new blackberry rollout. and get ready for the "blackpad." it's a competitor to apple's ipad. that's due out in november. humana shares seeing nice gains after second quarter results. profits rose 21%. given the economy, fewer people are heading to doctors' offices. humana also boosted enrollment its medicare-advantage program for seniors. and finally, hewlett packard settled a justice department lawsuit over its government contracting business. the settlement will cost h.p. shareholders about two cents a share i

high profile mergers such as intel and mcafee, and the fight for 3par between hewlett-packard and dell didn't help the sector. disk drive maker sandisk fell more than 5% on heavier than usual volume. there was no corporate news today, but sandisk shares have dropped to their lowest price since april. cisco systems was the biggest percentage loser among dow components, falling more than 2%. cisco's latest sell-off began three weeks ago when its quarterly revenue came in a fraction below analyst estimates. this is a new 52-week low for c-s-c-o. intel also weighed on the dow, and also falling to a new 52-week low. the company is in the process of buying software security company mcafee, and reports tonight indicate it is close to a deal to buy the wireless business of german semiconductor maker infineon. and speaking of computer security, look at this rally in arcsight. it rocketed higher by 30% on almost 20 times its usual volume. earlier this week on our "word on the street" segment, james rogers from thestreet.com, highlighted arc as a company analysts see as a buyout target. "the wall street journal" quoted sources as saying