Legislation to raise ceiling and cut $1tr on hold as votes fail to materializeWASHINGTON (AP) ― An intensive endgame at hand, Republican leaders abruptly postponed a vote Thursday night on legislation to avert a threatened government default and slice federal spending by nearly $1 trillion.“The votes obviously were not there,” conceded Rep. David Dreier, R-California, after Speaker John Boehner an

Industry July 29, 2011

CARNOUSTIE, Scotland (AP) ― Lee Meena of South Korea overcame wet conditions and shot a 7-under 65 Thursday for a two-stroke clubhouse lead in the first round of the Women’s British Open.She had seven birdies and no bogeys in a round played mainly in heavy rain.Brittany Lincicome of the United States started her round early in better conditions and finished with a 67.American Angela Stanford, Sout

More Sports July 29, 2011

Japan’s retail sales rose in June, exceeding all economists’ forecasts, adding to signs that the economy is bouncing back from an initial post-disaster plunge. Sales rose 1.1 percent in June from a year earlier, the Trade Ministry said Thursday in Tokyo. The median estimate of 16 economists surveyed by Bloomberg News was for a 0.5 percent decline, with the highest estimate for a 0.6 percent gain. 

Industry July 28, 2011

Asian economies’ growth slowdown, inflation concerns remainAsian policy makers need to tackle rising inflationary pressures in their economies even as global growth weakens, the Asian Development Bank said. The region can use monetary and fiscal policies as well as exchange rates to ease price pressure, the Manila-based lender said in its Asia Economic Monitor report Thursday. Asian economies also

Industry July 28, 2011

DEARBORN, Michigan (AP) ― Ford’s ambitious plans to grow in Asia took a toll on its second-quarter profit, with higher costs to design and sell cars offsetting rising sales.The company’s net income fell 8 percent to $2.4 billion for the April-June period. Ford blamed higher prices for steel and other commodities, but also said that after years of restructuring, the company is strong enough to spen

Industry July 27, 2011

NEW YORK (AP) ― Faced with tough competition and falling profits, BlackBerry maker Research In Motion Ltd. is cutting 2,000 jobs as part of a cost savings plan announced last month and is shuffling some senior executives.The job cuts amount to about 10 percent of the company’s work force. The company said Monday it will notify affected employees this week. It expects to give more information on th

Industry July 26, 2011

WASHINGTON (AFP) ― Greek Finance Minister Evangelos Venizelos said Monday that U.S. support is vital for Greece, after a day of Washington meetings as Athens pushed to finalize its second massive international bailout.“The support provided by the US government is especially important for Greece, for the eurozone, for the international economy and for the global economic governance,” he told report

Industry July 26, 2011