• In accordance with the past few weeks’ spate of mixed economic indicators, the Bureau of Economic Analysis said the U.S. economy grew at an annual rate of 1.6 percent in the second quarter — slower than the government’s initial estimate of 2.4 percent but faster than economists had expected. [Bureau of Economic Analysis / Bloomberg]
• Investors will listen attentively to Federal Reserve Chairman Ben Bernanke’s speech today, to find out how much the man really cares about propping up our stagnating economy. [Reuters]
• Dell, which makes computers, has matched a $1.8 billion bid by fellow PC maker Hewlett-Packard for data-storage fim 3Par, and 3Par agreed to hitch up with Dell. [WSJ]
• Tiffany announced a massive increase in second-quarter profits. Earnings results for the purveyor of very expensive jewelry and trinkets are an important barometer for consumer confidence, because nobody buys diamonds when they are starving. [AP]
• Amazingly, our interventionist government is on pace to profit handsomely on the troubled assets it bought from banks at the height of the credit crisis. [NYT]
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