Lawsuit seeking money for S.D.’s Black Hills divides Sioux; many still want sacred land back

PIERRE, S.D. — A band of Sioux whose ancestors were driven from the majestic Black Hills more than 130 years ago is seeking hundreds of millions of dollars in compensation, upsetting other tribal members who say taking money for the sacred land would be legitimizing the theft.

Latin American stocks gain on local credit moves, expected rate cuts

MEXICO CITY — Latin American stocks rose Wednesday as investors focused on regional steps to ease credit and the likelihood of further interest rate cuts, lifting local markets higher in a rare contrast to falling U.S. equities.

Jump in orders at box maker may signal demand for goods is rising, recession easing

Packaging Corp. of America is hardly an economic bellwether, but a boost in orders at the box maker might be among the early signs that the recession is easing.

Struggling paper makers get unexpected windfall from tax credit that could be short-lived

WASHINGTON — A law to make the earth a little greener is giving paper mills an unintended multibillion-dollar tax windfall with the help of a little diesel fuel.

A look at economic developments and activity in stock markets around the world Wednesday

A look at economic developments around the globe

EU assembly seeks illegal timber ban, proposes big fines for violators

STRASBOURG, France — The European Parliament urged EU governments Wednesday to ban the sale of illegally-harvested timber and proposed big fines for violators.

Freeport-McMoRan 1st-quarter profit, revenue tumble on price, demand weakness

DENVER — Freeport-McMoRan Copper & Gold Inc. on Wednesday reported a 96 percent drop in first-quarter net income as the global recession drove down demand and prices for its metals, used in everything from construction to steel.

AP Executive Morning Briefing

The top business news from The Associated Press for the morning of Thursday, July 2, 2009:

Mining giant BHP Billiton reports lower output as global economic crisis continues to bite

SYDNEY — Global mining giant BHP Billiton on Wednesday reported a sharp drop in quarterly copper production, along with declines in iron ore and aluminum, as demand for minerals falls amid the global economic slump.

AK Steel reports 1Q loss vs. year-ago profit as reeling auto industry dents steel demand

PITTSBURGH — AK Steel Holding Corp., a supplier of steel for cars and trucks, on Tuesday reported a first-quarter loss compared with a year-earlier profit, as the recession continued to dampen demand for the metal.

Eureka! Recession, high gold prices draw new wave of prospectors to California’s gold country

COLOMA, Calif. — There’s still gold in California’s Sierra Nevada foothills, and a new rush is under way to find it.

Mexican oil production declines 4.5 pct to average 2.67 million barrels a day in first quarter

MEXICO CITY — First-quarter oil output at Mexico’s state-owned oil company has dropped 4.5 percent from the same period last year to average 2.67 million barrels a day.

Caterpillar reports $112M loss in 1Q on layoff charge, weaker sales amid faltering economy

PITTSBURGH — Heavy equipment maker Caterpillar Inc. reported its first quarterly loss in 17 years on Tuesday, hurt by plunging sales and the cost of laying off thousands of workers. It also said the Obama administration should have allocated more money for roads, bridges and other public works under its stimulus plans.

DuPont 1st-quarter profit drops on declining demand, company cuts full-year outlook

DOVER, Del. — Citing a sharp drop in global industrial demand that resulted in a 59 percent decline in first-quarter profit, chemical maker DuPont Co. said Tuesday it is boosting efforts to cut costs and developing additional restructuring plans.

Committee: Bayer CropScience engaged in campaign of secrecy following deadly plant explosion

WASHINGTON — Bayer CropScience withheld information from emergency responders after a deadly explosion at a West Virginia chemical plant last summer, and has since used a terrorism-related law to keep some documents secret, a congressional committee said Tuesday.

Chinese dairy company launches first line of products since tainted milk scandal

BEIJING — The Chinese dairy that bought the company at the heart of a tainted milk scandal that sickened hundreds of thousands of children has launched a new line of milk powder products, state media reported Tuesday.