Morning News Monday August 13th 2007
General News: Retail sales rise 0.3% and 0.4% ex-auto. June and May were revised up total. Likewise for ex-auto. Details: · Building material sales rose 0.2% · Electronics and appliance store sales rose 1.0%. · Clothing store sales rose 1.3% -- not sure I believe this one. · General Merchandise rose 0.9% -- again seems strong compared to monthly sales numbers · Food service and drinking places rose 1.3%. · Gasoline stations fell 0.8%. - Bank of China and 5 other Chinese banks have a loss of $650 million in subprime losses. - Goldman Sachs Group Inc., the second-…