Nightly Business Report — July 29, 2014

Tonight on Nightly Business Report, stocks get knocked down as US and EU sanctions against Russia are ratcheted up. And, the debt problem you may not even know you have.

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Tonight: AMGN, AET, GLW, OSK, CAT & WIN.

Susie's knee walker

I have been training for a marathon. No, not the road race. I have been prepping for the medical recovery marathon after surgery on my right foot. And now one week since the surgery, I am so glad I went through that rigorous program of exercises. Back in February I was feeling a bit discouraged …

Adam Jeffery | CNBC
A trader works on the floor of the New York Stock Exchange.

Twitter is set to report its second-quarterly results on Tuesday after the bell. But no matter what the company reports, the stock might fail to please investors who still have Facebook’s blockbuster quarter on their minds. Analysts expect the micro-blogging website to post a loss of one cent per share on revenue of $283 million, according …

Alex Slobodkin | E+ | Getty Images

Millions of Americans are struggling to pay off their student loans and desperate to find a way to lower those monthly payments. Scammers know this, so they’ve created phony student loan “debt relief” companies that promise to help—for a price. Law enforcement has taken notice of this relatively new industry. Illinois Attorney General Lisa Madigan …

Don Bayley | E+ | Getty Images

Raking in $102,824 on Indiegogo in a campaign that ended July 3, the start-up Ambronite, maker of a drinkable organic “supermeal,” achieved a goal that most crowdfunders would envy: It exceeded its $50,000 target by more than 100 percent. “It was really exciting to see so many people around the world fund our product,” said CEO Simo …

Source: Rackspace
Taylor Rhodes

In the cloud-computing market, Google and Amazon.com have been embroiled in a brutal pricing war. So when news broke in May that smaller rival Rackspace had hired Morgan Stanley to explore strategic options amid such stiff competition, Rackspace’s president, Taylor Rhodes, expected a six-month parade of discussions with customers concerned about his company’s future. Instead, Rackspace has been signing up clients …

Getty Images

Ridesharing app Uber is tapping into the massive business car service market, announcing on Tuesday a plan that allows users to bill their companies directly for the service. With Uber for Business, employers can create an account with the car service, and then subsequently invite employees to join. Managers will then have easy access to …

Michael Nagle | Bloomberg | Getty Images
Shoppers look at iPhones in the Apple store on Manhattan's Upper West Side in New York, July 20, 2014.

Consumers were more confident about the economy in July than they have been in at least six years, data from The Conference Board showed on Tuesday, as stock markets float near record highs and expectations build for the recovery. The Conference Board’s Consumer Confidence Index rose to 90.9, above the prior month’s showing of 86.4. …

Johannes Eisele | AFP | Getty Images
China says it is investigating Microsoft for suspected monopolistic practices.

China confirmed an investigation into Microsoft on Tuesday, saying the U.S. tech giant is suspected of monopolistic practices. On its website, the State Administration for Industry and Commerce cited compatibility issues for the Windows OS and Office software. It said about 100 officers raided Microsoft’s offices in various cities across China to gather more information into the way …

Ted Aljibe | AFP | Getty Images
Motorists ride past fallen coconut trees in Compostela Valley in the Philippines on December 5, 2012, a day after Typhoon Bopha hit the province. At least 274 people were killed.

Typhoons have battered the Philippines over the past year and the country’s already vulnerable coconut trees took a hit even as demand for trendy coconut-based products is climbing. “Tree damage is likely to accelerate the decline of the coconut production in the Philippines,” said Jason Wong, a research analyst at Euromonitor, in an email. “Even …

Source: United States Coast Guard
The United Kalavryta.

The buyer of Kurdish crude oil sitting off the coast of Texas is a companycalled Talmay Trading of the British Virgin Islands, CNBC has learned. According to documents seen by CNBC, Talmay, using a London shipbroker, hired AET Offshore Services of Dallas, Texas, on July 17, 2014, to unload roughly 1 million barrels of crude in …

Unlocking your cell phone

President Obama says he’s looking forward to signing into law a just approved bill that gives mobile phone users the right to unlock their devices and use them on competitors’ wireless networks.

The state of Medicare and Social Security

The trustees who oversee the financial health of the government’s two largest benefit programs has released their annual report and there’s some positive news for Medicare. The report shows its funding outlook has improved and that the program’s hospital trust fund won’t be exhausted until 2030, four years later than last year’s estimate. Meantime, Social …

Chinese officials target Microsoft

Officials in China have made unexpected visits to Microsoft’s offices, but that’s not stopping the tech company from pushing ahead with its plans in the country.