By PAN PYLAS
AP Business Writer
LONDON (AP) – Ukraine won a thumbs up Friday from a leading credit ratings agency for its efforts to get its battered economy in shape for a loan from the International Monetary Fund.
Standard & Poor’s said it was revising its outlook on Ukraine’s long-term ratings to positive from negative in the [...]
By JEANNINE AVERSA
AP Economics Writer
WASHINGTON (AP) – The U.S. economy sank at a pace of just 1 percent in the second quarter of the year, a new government report shows. It was a better-than-expected showing that provided the strongest signal yet that the longest recession since World War II is finally winding down.
The dip in [...]
By GEORGE FREY
AP Business Writer
FRANKFURT (AP) – German car parts and tire maker Continental AG plans a capital increase of up to euro1.5 billion ($2.1 billion) to strengthen its balance sheet and is in refinancing talks with banks, the company said.
“With this decision, the supervisory and executive boards intend to equip Continental with a sound [...]
By CHRIS KAHN
AP Energy Writer
NEW YORK (AP) – Chevron Corp. says its second-quarter profit fell 71 percent as demand for crude oil and gasoline plunged.
Chevron, the second-largest U.S. oil company, said Friday its net income amounted to $1.75 billion, or 87 cents per share, for the three-month period that ended June 30. That compared with [...]
MUNICH (AP) – Four European countries signed Friday a euro9 billion ($12.65 billion) deal to build 112 more Eurofighter Typhoon fighter planes, a boost for the companies involved in production of the advanced jet.
The German Defense Ministry said the deal, also signed by Spain, Italy and Britain, will see its air force receive 31 of [...]
By PAN PYLAS
AP Business Writer
LONDON (AP) – European stock markets traded slightly down Friday as Wall Street was poised for a lower opening despite news that the U.S. economy contracted by less than anticipated in the second quarter. Profit-taking associated with the month-end kept the latest rally in check.
By early afternoon London time, the FTSE [...]
By STEPHEN BERNARD
AP Business Writer
NEW YORK (AP) – Stock futures rose modestly Friday morning, extending the previous day’s rally ahead of a key reading on the overall output of the economy during the second quarter.
Asian markets pushed higher on the strength of the U.S. market, while European indexes traded in a narrow range after surging [...]
By MARCIA DUNN
Associated Press Writer
CAPE CANAVERAL, Florida (AP) – Space shuttle Endeavour and its seven astronauts returned to Earth on Friday, completing a long but successful construction job that boosted the size and power of the international space station.
Endeavour glided through a slightly hazy sky and touched down on Kennedy Space Center’s landing strip. Its [...]
By ASIF SHAHZAD and NAHAL TOOSI
Associated Press Writers
ISLAMABAD (AP) – Pakistan’s Supreme Court ruled Friday that the state of emergency former President Pervez Musharraf imposed in 2007 was unconstitutional and declared invalid the appointments of judges he made during that period.
The decision could lay the groundwork for treason charges against the ex-military ruler, further destabilizing [...]
By WILL WEISSERT
Associated Press Writer
HAVANA (AP) – It’s hard to find a spare tire in Cuba these days, or a cup of yoghurt.
Air conditioners are shut off in the dead heat. Factories close at peak hours, and workers go without their government-subsidized lunches.
Cuba has ordered austere energy savings this summer to cope with rising [...]
