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Self-centered drunk driver who killed 4 at LI nail salon speaks after harrowing crash
Business

Business briefs

By
Post Staff Report
Published Aug. 3, 2010, 4:00 a.m. ET

ISM falls

The Institute for Sup ply Management’s index fell to 55.5 in July from 56.2 in June, the third consecutive monthly de cline. Economists were expecting 54.2.

FrontPoint

Morgan Stanley will spin off FrontPoint Part ners, a hedge fund it acquired in 2006, CNBC reported.

Crude at $80

Crude futures settled above $80 a barrel yesterday for the first time since May on strong manufacturing data. Light, sweet crude for August delivery settled up 3 percent, or $2.39, at $81.34 a barrel on the Nymex, the highest since May 4.

Icahn rejected

Lionsgate’s board unan imously rejected Carl Icahn’s unsolicited tender offer of $6.50 a share.

Countrywide

Bank of America and KPMG LLP’s $624 mil lion settlement with Countrywide Financial investors won initial court approval. New York pension funds claimed former Coun trywide CEO Angelo Mozilo hid the fact that the company was let ting underwriting stan dards deteriorate. BofA acquired Countrywide in July 2008.