2 teens attacked in town mocked in YouTube videos
Two teenagers who drove to Oniontown after a series of YouTube videos portrayed the hamlet as a run-down, backwoods dump were pelted with rocks by an angry group of young residents, authorities said.
EU widens Billiton-Rio Tinto probe
The European Commission on Friday widened its antitrust probe into the proposed acquisition of Rio Tinto Inc. by BHP Billiton Ltd., saying an initial investigation revealed concerns about higher prices and reduced choice for European customers of the mining concerns.
Canadian telecom BCE, suitor agree on terms
BCE Inc, Canada's largest telecommunications company, said Friday it has agreed on terms of a $35 billion sale to a group led by the Ontario Teachers' Pension Plan in the biggest leveraged buyout ever. The deal is expected to be completed by mid-December.
9 convicted in Austria fraud case
Nine people, including a prominent executive who fled to France in an attempt to elude justice, were convicted Friday of criminal charges in a major Austrian bank fraud case linked to the 2005 collapse of New York-based commodities brokerage Refco Inc.
TPG pulls out of Bradford & Bingley plan
Bradford & Bingley PLC said Friday it is revising its plans to raise new capital after U.S. private equity fund Texas Pacific Group pulled out of its agreement to invest more than $350 million in the mortgage banker.
Travel experts: US share of foreign tourists slips
Despite the weak U.S. dollar, a boom in international travel around the world hasn't translated into an explosion of foreign tourists to the United States.
Smooth sailing for yacht builders despite economy
Fuel prices are soaring and credit markets tightening, but the super-rich are still lining up to pay tens of millions of dollars for mega yachts.
Companies begin quest for oil, gas off Florida
Oil companies once viewed drilling in the deep waters off Florida as cost prohibitive. Politicians feared even the slightest sign of support would be career suicide.
UBS may post small loss for 2Q
UBS AG, Switzerland's largest bank, said Friday it expects its second-quarter results to be "at or slightly below break-even" due to a tax credit that will at least partly offset investment losses. It also said it won't need to ask for more capital when it reports the results next month.
European shares fall, Asia markets mixed
European markets fell and Asian markets were mixed Friday as investors digested uneven readings on the U.S. economy and oil prices that remained near records. Japan posted its 12th straight day of losses.
G-8 meets as economy storm clouds thicken
Between surging oil prices, food inflation and a credit crunch that's depressed global growth, leaders from the Group of Eight economic powers face the gravest combination of economic woes in at least a decade when they gather next week.
BHP, China's Baosteel agree iron ore price hike
BHP Billiton Ltd. said Friday that China's Baosteel, negotiating on behalf of the Chinese steel industry, agreed to price hikes of up to 96.5 percent for iron ore supplies this year following protracted negotiations.
62,000 jobs lost, off nearly half-million for year
The nation lost jobs for a sixth month in a row in June, a storm of pink slips drenching this year's July Fourth holiday for more than 60,000 Americans and leaving thousands more worried about the future.
American Airlines workers brace for job cuts
Many more job cuts, likely totaling more than 6,000, are likely at American Airlines as the nation's largest airline hunkers down and tries to survive record high fuel costs.
Australia's Origin Energy rejects BG's $13B bid
Origin Energy Ltd., Australia's second largest power retailer, rejected a $13 billion takeover bid Friday from British natural gas producer BG Group.
Japan's ANA may purchase Airbus A380
All Nippon Airways Co. is studying buying about five Airbus superjumbo A380s or other aircraft for long-haul routes, the Japanese carrier said Friday.
Farmers say salmonella scare has hurt tomato sales
Expect fewer slices of red, ripe tomatoes next to the grill this holiday weekend.
Oil steady above $145 in Asia on Saudi declaration
Oil prices remained near record highs above $145 a barrel in Asia after Saudi Arabia's oil minister suggested his country doesn't plan to boost production.
Chrysler looks at auto alliance with Chinese
Chrysler LLC, looking for foreign partnerships to help drive its business as U.S. sales slump, announced a deal with China's Great Wall Motor Co. on Friday to study sharing technology, components and distribution.
AP Executive Morning Briefing
The top business news from The Associated Press for the morning of Friday, July 4, 2008:
Japan's key stock index extends losses
Japan's key stock index extended its longest slide in more than a half-century, as record oil prices intensified concerns over the impact on corporate earnings and consumer demand.
Oil prices fall more than $1 a barrel
Oil prices fell more than $1 a barrel Friday from record levels set a day earlier on hopes that tensions surrounding Iran's nuclear program could ease and cut the chances of American or Israeli military action against OPEC's second-largest oil producer.
Gas prices hit another high for holiday weekend
Fireworks aren't the only thing skyrocketing on this Fourth of July. The price of gas has hit another all-time high.
Court orders YouTube to give Viacom video logs
Dismissing privacy concerns, a federal judge overseeing a $1 billion copyright-infringement lawsuit against YouTube has ordered the popular online video-sharing service to disclose who watches which video clips and when.
Minn. teen charged with offering his vote on eBay
A college student claimed it was all a joke when he put his vote in this fall's presidential election up for sale on the Web auction site eBay. But prosecutors didn't see the humor.
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