In a July 27 interview with BusinessWeek in the Oval Office, President Barack Obama reflected on his first six months in office and discussed his evolving relationship with business leaders. The President clearly had a lot he wanted to say to the business community, with which he has gotten off to a somewhat shaky start. He addressed the criticisms of some CEOs that his policies are antibusiness, defended his proposed tax increases on the wealthy, and drew management lessons from his executive experience thus far.

The President was cautious at times but always precise. He looked ahead to growth in a deleveraged economy driven by a more productive health-care system, energy innovation, educational improvements, and a more effective government. He added that many Americans are as cynical about business as business leaders are about government and that his goal is to channel this wave of populism in a constructive direction.

Source: BusinessWeek

What Next for Microsoft and Yahoo?

The bumpy, marathon mating dance between Microsoft and Yahoo finally concluded on July 29, when the two companies announced a partnership in Internet search and advertising to take on the industry powerhouse Google. But there was plenty of skepticism about whether the new partners could make a serious dent in Google’s dominance. The tie-up may help Steve Ballmer end the worst slump in his career at the helm of Microsoft, but it’s also likely to face antitrust scrutiny.

Sources: New York Times, Wall Street Journal, BusinessWeek

Shell Warns of Job Cuts as Profits Sink 70%

Royal Dutch Shell posted a 70% decline in net profit in the second quarter, as oil prices and refining margins tumbled, but foreign exchange gains helped the oil major beat forecasts. New chief executive Peter Voser warned of “substantial” job cuts to come and announced a planned reduction in the company’s capital spending program, as it copes with weak demand, excess capacity and high costs.

Sources: Reuters, Financial Times

Sony’s Quarterly Losses Less Grim Than Expected

Japan’s Sony Corp. posted smaller-than-expected net and operating losses on July 29 for the April-June quarter, despite a strong yen and heavy restructuring costs, but it left its full-year loss forecasts unchanged.

Source: MarketWatch

Volkswagen Profits Fall but Beat Estimates

Volkswagen, Europe’s largest carmaker, reported a smaller-than-anticipated decline in profit and said growth in emerging markets will help the Audi manufacturer outperform the industry in the second half. Rival Daimler also posted a loss but predicted improved results in the second half, while French giant Peugeot surprised investors with unexpected positive cash flow.

Sources: Bloomberg, New York Times

British Airways Cuts Canapés to Save Cash

The struggling airline announced plans July 29 to cut meal service on short-haul flights to reduce expenses, and even to trim amenities such as hors d’oeuvres and chocolates in business class. The airline also has appealed to aircraft maker Boeing Co. to renegotiate installment payments on 787 Dreamliners the carrier has ordered.

Sources: Financial Times, Wall Street Journal

European Telcos Roll Out Earnings

Some of Europe’s biggest telecom groups reported earnings on July 30, with shares in the U.K.’s BT Group soaring over 12% after it beat results and Spain’s Telefonica also squeaking past estimates, while France Telecom warned of a slowdown.

Source: MarketWatch

Ford Set to Revive Taurus Marque

After a 20-year run, the Ford Taurus was headed for the scrap heap in 2007. But Ford’s new chief executive, Alan R. Mulally, reversed course, figuring the Taurus name still had value, even though its reputation had faltered as the car became best known as a staple of rental car fleets.

Source: New York Times

European Confidence Grows More Than Expected

European confidence in the economic outlook increased more than economists forecast in July, adding to signs the deepest recession in more than six decades may be bottoming out. An index of executive and consumer sentiment in the 16 nations that use the euro rose to 76, the highest since November, up from 73.2 in June.

Source: Bloomberg

ESPN’s Global Soccer Ambitions

U.S.-based cable sports giant ESPN—a unit of Disney—is making a major new play in the lucrative world of European soccer. In a sign of its broader global ambitions, the sportscaster has bought the rights to show 46 English Premier League games this season to British viewers, the first time it has cracked a major domestic market in Europe.

Source: BusinessWeek

Coffee Pot Maker Vents about Doing Business in California

Wilbur D. Curtis invented the globular glass coffeepot, that staple of coffee counters everywhere, in 1940. But their long history in California doesn’t exempt the Curtis family from the costs and hassles that give this state its reputation as one of the hardest places in the country to do business.

Source: Los Angeles Times