NEW YORK (CNN) -- CNN Money's Stacey Delikat has your top business and financial news on this Tuesday, July 30.
Stocks fall despite flurry of deals
Investors took a step back Monday ahead of several events later this week that could set the tone for the rest of the summer. The Dow Jones industrial average, the S&P 500 and the Nasdaq all sank about 0.2% in afternoon trading. Despite news early Monday of corporate mergers totaling $46 billion, investors were reducing their exposure to stocks ahead of a meeting of Federal Reserve policymakers later this week. The European Central Bank and Bank of England also meet this week.
Republicans criticize Obama for Keystone jobs claim in interview
Congressional Republicans criticized comments by President Barack Obama about the number of jobs the Keystone XL pipeline would create, saying the remarks undercut his own efforts to highlight policies to boost the U.S. economy. The Wisconsin Republican, who was his party's 2012 vice-presidential nominee, told Bloomberg BNA yesterday that federal approval of the TransCanada Corp. (TRP) project and tax-code changes may be seen as concessions in looming budget talks with the White House.
Fast food workers protest in 7 cities
Fast food workers will walk off work in seven cities across the country this week, continuing their campaign to garner higher wages and the right to unionize. Dozens of workers asking to be paid a minimum of $15 an hour and the right to organize without retaliation are expected to protest outside of McDonald's (MCD, Fortune 500) and Wendy's (WEN) locations across New York City on Monday. The rallies will move to Chicago, St. Louis, Detroit, Milwaukee, Kansas City and Flint, Michigan the rest of the week.
BMW unveils i3 electric car
BMW unveiled its new electric "city car," the i3, at simultaneous press conferences in New York City, London and Beijing Monday. Unlike a lot of other plug-in cars, sales of the i3 won't be restricted to just a handful of U.S. states. BMW's already done small-volume electric car introductions with the MiniE electric Mini Cooper -- Mini is a subsidiary of BMW -- and the BMW ActiveE, an electric version of the 1-series subcompact. BMW's ultra-luxury Rolls-Royce brand even made its own one-off electric Electric Phantom, which never reached production.