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AP Source: AIG consults administration on bonuses

By STEPHEN BERNARD, AP Business Writer | Today at 8:03 a.m.

American International Group Inc. is consulting with the federal government about its plans to pay millions of dollars in retention incentives and bonuses, a person familiar with the situation said.

  • May trade deficit unexpectedly drops to $26B

    By MARTIN CRUTSINGER, AP Economics Writer | Today at 8:33 a.m.

    The U.S. trade deficit fell to the lowest level in more than nine years in May as exports posted a small gain while the weak American economy pushed imports down for a 10th straight month.

  • GM emerges from bankruptcy

    By TOM KRISHER, AP Auto Writer | Today at 8:23 a.m.

    General Motors Corp. CEO Fritz Henderson says the new GM will be far faster and more responsive to customers than the old one.

  • Stock futures point to lower Wall Street open

    By IEVA M. AUGSTUMS, AP Business Writer | Today at 8:18 a.m.

    The stock market headed toward a lower start Friday as investor anxiety about the economy increases.

  • European stocks down ahead of expected US retreat

    By PAN PYLAS, AP Business Writer | Today at 6:53 a.m.

    European stock markets fell Friday ahead of an expected retreat on Wall Street as investors await more direction from the U.S. second-quarter earnings reporting season.

  • India's Infosys says quarterly profit up 1.6 pct

    By ERIKA KINETZ, AP Business Writer | Today at 7:13 a.m.

    Indian outsourcing bellwether Infosys Technologies Ltd. reported a slight rise in quarterly profit and warned of a steep drop in revenue as its global clients struggle to cope with the economic slowdown.

  • Toys R Us subsidiary completes note offering

    The Associated Press | Today at 6:18 a.m.

    Toys R Us Inc. said Friday that one of its subsidiaries has completed an offering of $950 million in senior unsecured notes due 2017.

  • Obama: full world economic recovery 'a ways off'

    By CHARLES BABINGTON, Associated Press Writer | Today at 8:23 a.m.

    A lasting worldwide economic recovery "is still a ways off," President Barack Obama declared Friday, but he also said at the conclusion of a global summit that a disastrous economic collapse apparently has been averted.

  • Japan wholesale prices fall 6.6 percent in June

    The Associated Press | Today at 3:03 a.m.

    Japan's central bank said Friday that wholesale prices fell 6.6 percent in June from a year earlier, the biggest fall on record and the latest sign that deflation is returning to the country.

  • Elements batter Oklahoma winter wheat crop

    By ROCHELLE HINES, Associated Press Writer | Today at 4:53 a.m.

    Battered by drought, a late freeze and flooding rain, Oklahoma's winter wheat harvest may produce only half of what was yielded last year, officials said.

  • World leaders want $20 billion for food aid

    By ALESSANDRA RIZZO and EMMA VANDORE, Associated Press Writers | Today at 7:43 a.m.

    World leaders said Friday that they want to provide $20 billion over the next three years to increase food production in developing countries and help the poor feed themselves.

  • China says Rio Tinto employees stole state secrets

    By JOE McDONALD and ROHAN SULLIVAN, Associated Press Writers | Today at 3:08 a.m.

    China has proof four detained employees of miner Rio Tinto Ltd. stole state secrets for foreign countries, the government said Thursday, following their detention amid contentious iron ore price talks.

  • China's June exports down 21.4 percent

    By JOE McDONALD, AP Business Writer | Today at 4:43 a.m.

    China's exports and imports fell again in June but declines were less severe than in May, data showed Friday, adding to signs the world's third-largest economy is recovering from its slump.

  • Oil below $60 as traders eye company results

    By GEORGE JAHN, Associated Press Writer | Today at 5:38 a.m.

    Oil prices slid below $60 a barrel Friday as investors braced for company earnings reports next week that will provide clues on the strength of crude demand.

  • Commercial real estate woes grow

    By ALAN ZIBEL, AP Real Estate Writer | July 9 at 4:53 p.m.

    Owners of shopping malls, hotels and offices are defaulting on their loans at an alarming rate, and the commercial real estate market is not expected to hit bottom for three more years, industry experts warned Thursday.

  • Retailers report weak June sales

    By ANNE D'INNOCENZIO, AP Retail Writer | July 9 at 8:47 a.m.

    Escalating job worries and rainy weather dampened shoppers' appetite for buying summer staples like shorts and dresses, resulting in sharper-than-expected sales declines for many merchants in June and increasing concerns about the back-to-school shopping season.

  • Stock futures point to lower Wall Street open

    By IEVA M. AUGSTUMS, AP Business Writer | Today at 7:03 a.m.

    The stock market headed toward a lower start Friday as investor anxiety about the economy increases.

  • Ticketmaster, Priceline.com form partnership

    The Associated Press | July 9 at 8:27 a.m.

    Ticketmaster and Priceline.com Inc. said Thursday that they will team up in order to give the ticket seller's online customers access to various travel services.

  • Furloughs to close Calif. offices starting Friday

    By DON THOMPSON, Associated Press Writer | July 9 at 5:23 p.m.

    Starting Friday, most state government offices will begin closing three days a month to save California some money.

  • Citigroup shuffles executives, former CFO leaving

    By STEPHEN BERNARD and IEVA M. AUGSTUMS, AP Business Writers | Today at 3:43 a.m.

    Citigroup Inc. shuffled its top management again Thursday, naming its third chief financial officer of the year and bringing in a new head of its Citibank division as it returns its focus to traditional banking.

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