Report: US business travel down 15 percent this yearSHERMAN, Conn. — Corporate travel is expected to decline 15 percent this year, according to a new report from PhoCusWright, the travel industry research company. Ford posts its first sales increase in nearly 2 years on strong “cash-for-clunkers” trafficDETROIT — Lured by the government’s cash-for-clunkers campaign, car and truck buyers started to return to Ford Motor Co. showrooms last month, with the automaker reporting its first U.S. sales increase in nearly two years. Patriot Coal to shut down W.Va. surface mine, focus production at lower-cost operationsCHARLESTON, W.Va. — Another major U.S. coal mining complex has fallen victim to the slumping demand for energy. Senate under pressure to provide $2B more for popular ‘cash for clunkers’ programWASHINGTON — The Senate came under increasing pressure Monday to refuel the stalling “cash-for-clunkers” initiative amid uncertainty over how much money, if any, is left in the fund bankrolling the popular program. Google boss resigns from Apple boardSAN FRANCISCO - Google chief executive officer Eric Schmidt has resigned from the board of Apple because of potential conflicts of interest, Apple said in a statement Monday. British banks Barclays and HSCB post good results, fueling talk of financial system recoveryLONDON — HSBC Holdings PLC and Barclays PLC shrugged off the near-collapse of Britain’s banking system to report combined profits of more than 5 billion pounds ($8.4 billion) on Monday, fueling talk of financial recovery and raising fears of a return of the banking bonus culture. Soaring price of gold turns Goldsmiths idleAHMEDABAD - With the price of gold going through the roof, the number of customers of yellow metal has fallen drastically and left a majority of goldsmiths in Ahmedabad city of Gujarat sit literally idle. General Motors says factory layoffs coming; too few workers took buyout or retirement offersDETROIT — About 6,000 General Motors Co. blue-collar workers have taken the latest round of early retirement and buyout offers, but it fell short of the company’s goal, meaning more layoffs are likely. India, China in talks to monitor Himalayan glaciersNEW DELHI - Setting aside speculation about strains in bilateral ties, India has said it is engaged in talks with China to monitor the glaciers in the Himalayas, a strategic border region, and plans to collaborate in climate change negotiations. Construction spending rises unexpectedly in June as residential building increasesWASHINGTON — Construction spending rose for the second time in three months in June as residential building increased and government-funded infrastructure projects jumped. In party draft, Fatah commits to peace talks but asserts right to resist Israeli occupationRAMALLAH, West Bank — The proposed new platform of the Palestinians’ moderate Fatah party marginalizes the once central theme of “armed struggle” against Israel, but demands a complete Israeli settlement freeze before talks for a final peace deal can take place. Molson Coors reports 2nd-quarter profit doubles on higher prices, cost cuts but sales fallMILWAUKEE — Cost cuts and price increases that stuck helped brewer Molson Coors report its second-quarter profit doubled Monday, beating analyst expectations, even as consumers continued to limit their spending or trade down to cheaper brews. Foreclosure rates stabilize in 3 hard-hit states, even while joblessness holds back economyEven as Americans suffer rising unemployment, foreclosure rates in three states hit hardest by the housing bust — California, Arizona and Florida — stabilized in June, offering hope that the worst of the real estate crisis is over, according to The Associated Press’ monthly analysis of economic stress in more than 3,100 U.S. counties. Humana’s 2nd-quarter profit rises 34 percent on higher Medicare, commercial insurance premiumsLOUISVILLE, Ky. — Health insurer Humana Inc. said Monday its second-quarter profit rose 34 percent on the strength its robust government business, led by Medicare Advantage offerings, easily offsetting a sluggish commercial segment hamstrung by the recession. Temperature drop helps Spanish island battle forest firesLA PALMA, Canary Islands — Lower temperatures on Monday helped firefighters battle two forest fires that have raged on La Palma in Spain’s Canary Islands for three days. Iran’s supreme leader endorses Ahmadinejad for president, critics boycott ceremonyTEHRAN, Iran — Iran’s supreme leader formally endorsed Mahmoud Ahmadinejad for a second term as president Monday in a ceremony that sought to portray unity among the country’s leadership but was snubbed by prominent critics of the disputed election. Pneumonic plague claims 2nd victim; China seals off entire town
Barclays bank 1H net profit up 10 percent to 1.89 billion pounds ($3.16 billion)LONDON — Banking group Barclays PLC said Monday that first-half net profit rose 10 percent as stronger earnings from its expanded investment banking division outweighed an increase in bad loans. Ear-pulling navigational helmet, VR floor among ‘Emerging Tech’ at New Orleans showNEW ORLEANS — If you pull on my ear, will I follow you anywhere? Obama administration says ‘cash for clunkers’ will be suspended unless Senate provides $2BWASHINGTON — With the “cash for clunkers” program essentially running on fumes, the Obama administration served notice on the Senate that it must pour in $2 billion more to keep it on track. Police search rental home in Boise close off part of landfill in hunt for missing boyBOISE, Idaho — Police searched a southwest Boise residence and closed off a section of a landfill Saturday as they continued looking for an 8-year-old boy who went missing more than a week ago. US stocks mixed on better-than-expected GDP figuresNEW YORK - US stocks closed mixed Friday to end one of its best months in years, after government figures showed a smaller-than-expected contraction of the world’s largest economy in the second quarter of the year. Obama, Biden, Cabinet retreat across street from White House to discuss past and future agendaWASHINGTON — President Barack Obama, Vice President Joe Biden, senior officials and Cabinet members were gathering away from the White House this weekend to discuss administration progress at the six-month mark and plot a course ahead. Philippine democracy icon, former President Corazon Aquino, dead at 76MANILA, Philippines — Former President Corazon Aquino, who swept away a dictator with a “people power” revolt and sustained democracy by fighting off seven coup attempts in six years, died on Saturday, her son said. She was 76. AEP profits intact as higher rates offset declines in power usage by industrial customersCOLUMBUS, Ohio — Power company American Electric Power said Friday that its second-quarter earnings rose as higher rates in several states coupled with cost controls offset a 21 percent drop in sales to industrial customers. Save for the F-22, Democratic House funds Pentagon programs slated for terminationPresident Barack Obama recommended killing several high profile Pentagon programs in his 2010 budget. Here’s how he fared in a defense funding bill passed by the House on Thursday: Hutchison to leave US Senate in October or November to challenge Perry for Texas governorAUSTIN, Texas — U.S. Sen. Kay Bailey Hutchison says she will step down this fall to challenge fellow Republican Rick Perry for governor in 2010, setting the stage for what will be a crowded race to replace her. International Paper’s profit falls 40 pct, but worst of economic slowdown appears overInternational Paper Co. on Thursday reported a 40 percent drop in second-quarter profit but said the worst of the global recession appears to be over and that demand is steadying. Alcatel-Lucent, BT earns, Japanese industry data give world markets another boostLONDON — World stock markets rose strongly Thursday after another batch of better than expected corporate earnings and further signs that Japan, the world’s second-largest economy, could be on the road to recovery. India looks for gas in distant Papua New GuineaIndo-ASIAN NEWS SERVICE NEW DELHI - Papua New Guinea, a sprawling Pacific Ocean nation of just six million people speaking 850 languages, is inviting India to develop its hydrocarbon resources after the islands struck gas two years ago. It is also keen to forge ties with New Delhi after courting Beijing all these years. |
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BEIJING — A second man has died of pneumonic plague in northwest China, in an outbreak that prompted authorities to lock down a town where about a dozen people were infected with the highly contagious deadly lung disease, a state news agency said.
