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Updated: 39 min 41 sec ago

Michigan voters search for economic savior (AP)

1 hour 59 min ago
AP - Michigan voters frustrated over lost jobs, home foreclosures and budget deficits will vote in Tuesday's primary election for leaders they hope can move the state out of its economic morass.

Oil spill mars UC Berkeley's BP-funded research (AP)

2 hours 53 min ago

In this July 30, 2010 photo, demonstrator Gene Bernardi holds a sign during a protest in Berkeley, Calif., to mark the 100th day anniversary of BP oil spill. BP's catastrophic oil spill in the Gulf of Mexico is fueling opposition to the University of California, Berkeley's research partnership with the oil giant, with activists staging protests on the famously liberal campus. The British company gave UC Berkeley a $500 million grant in 2007 to create the Energy Biosciences Institute, which works to develop new sources of plant-based fuel. It's believed to be the largest-ever corporate sponsorship of university research, but still outraged students and professors who worried the global oil company would exert too much influence over academic research and damage the university's reputation. (AP Photo/Paul Sakuma)AP - BP's catastrophic oil spill in the Gulf of Mexico is fueling opposition to the University of California, Berkeley's research partnership with the British company, with activists on the famously liberal campus demanding a severing of ties.


Movie tax cuts 'help struggling California economy' (AFP)

5 hours 14 min ago

A year-old program granting movie studios tax breaks for filming in California has saved jobs and should yield two billion dollars in direct spending, Governor Arnold Schwarzenegger -- seen here in June -- said.(AFP/Getty Images/Michael Buckner)AFP - A year-old program granting movie studios tax breaks for filming in California has saved jobs and should yield two billion dollars in direct spending, Governor Arnold Schwarzenegger said.


AP EXCLUSIVE: Salazar tours rigs, keeps drill ban (AP)

7 hours 13 min ago
AP - The helicopter passes over the blue waters of the Gulf of Mexico — with surprisingly little oil visible on its surface — when out of the sea rises a skyscraper-like structure nearly 350 feet above the waves. The $600 million rig, nearly 100 miles off Louisiana's coast, has a hull larger than a football field and can drill more than 5 miles beneath the ocean floor.

ICICI Bank profit up 17 percent on better loans (AP)

9 hours 16 min ago
AP - ICICI Bank, India's largest private sector bank, said quarterly profit rose 17 percent as it cut costs and eliminated bad loans amid revived credit demand in India's growing economy.

BP may sell German gas stations for $2.6 billion (Reuters)

10 hours 35 min ago
Reuters - BP Plc is seeking to sell its German petrol station chain Aral for around 2 billion euros ($2.6 billion), German magazine Wirtschaftswoche reported on Saturday, citing investment bankers familiar with BP's plans.

Signs of oil spill recovery entering new phase (AP)

Fri, 07/30/2010 - 22:50

James Lee Witt, right, listens to BP PLC CEO of Gulf Coast Restoration Organization Bob Dudley as he speaks at a news conference to announce Witt's hiring as an advisor to BP's Deepwater Horizon oil spill response in Biloxi, Miss., Friday, July 30, 2010. Witt, the former FEMA director under President Bill Clinton, is expected to advise BP through its long-term response and recovery efforts. (AP Photo/Patrick Semansky)AP - BP's new boss says it's time for a "scaleback" in cleaning up the Gulf of Mexico oil spill. Federal officials say there is no way the crude could reach the East Coast. And fishing areas are starting to reopen.


Wildlife rescue escalates at Mich. river oil spill (AP)

Fri, 07/30/2010 - 20:55

Oil sheen is shown in the Kalamazoo River in Battle Creek, Mich., from a ruptured pipeline, owned by Enbridge Inc., Thursday, July 29, 2010. (AP Photo/Paul Sancya)AP - Volunteers and government officials scrambled on Friday to save geese and other wildlife damaged by an oil spill in a southern Michigan river as the Canadian company that owns the ruptured pipeline said the crude had been contained.


Group sues over Wyoming-to-Oregon gas pipeline (AP)

Fri, 07/30/2010 - 19:42
AP - An environmental group that wants to block construction of a $3 billion gas pipeline from Wyoming to Oregon filed a lawsuit Friday, saying the pipeline will cut across pristine land and harm endangered fish.

Merck's 2Q net drops on higher costs, charges (AP)

Fri, 07/30/2010 - 18:14

FILE - In this file photo made April 15, 2009, the Merck logo is seen in the lobby of Merck & Company, Inc.'s world headquarters in Whitehouse Station, N.J. Drugmaker Merck & Co. on Friday, July 30, 2010, reported a 52 percent drop in second-quarter net income, due to big merger and restructuring charges and lower income from partnerships. (AP Photo/Mel Evans, File)AP - Drugmaker Merck & Co. on Friday reported a 52 percent drop in second-quarter net income, weighed down by big restructuring charges from buying Schering-Plough Corp., generic competition and other factors.


US House passes oil spill response bills (AFP)

Fri, 07/30/2010 - 17:43

Ships assist in clean up and containment near the source of the BP Deepwater Horizon oil spill on July 27, in the Gulf of Mexico off the coast of Louisiana. The US House of Representatives on Friday voted to overhaul offshore drilling safety rules and to protect whistleblowing workers in a sweeping response to the disastrous Gulf of Mexico oil spill.(AFP/Getty Images/File/Chris Graythen)AFP - The US House of Representatives on Friday voted to overhaul offshore drilling safety rules and to protect whistleblowing workers in a sweeping response to the disastrous Gulf of Mexico oil spill.


Dynavax posts 2Q loss, weighed down by expenses (AP)

Fri, 07/30/2010 - 16:53
AP - Drug developer Dynavax Technologies Corp. said Friday that higher operating expenses, weak revenue and costs linked to a stock offering drove it to a second-quarter loss, reversing a year-ago profit.

Jobs data, earnings latest test for stocks (Reuters)

Fri, 07/30/2010 - 16:46
Reuters - U.S. stocks are unlikely to break above a key technical level next week unless monthly jobs data and consumer company results paint a more promising picture of the recovery.

Obama: Detroit auto bailout was unpopular, but it worked (The Christian Science Monitor)

Fri, 07/30/2010 - 16:16
The Christian Science Monitor - President Obama used a visit to Michigan Friday to argue the case that despite its unpopularity, his 2009 bailout of the Detroit auto industry has worked.

Obama defends economy, takes wheel of electric car (AFP)

Fri, 07/30/2010 - 15:56

AFP - President Barack Obama took to the wheel of a new electric car Friday on a Detroit-area tour of the revitalized auto industry, touting his economic policies but urging the need to do more.


Obama hails news economy growing, wants more (Reuters)

Fri, 07/30/2010 - 15:50

U.S. President Barack Obama prepares to depart Andrews Air Force Base outside Washington, for a day trip to Detroit, July 30, 2010. REUTERS/Larry DowningReuters - President Barack Obama said on Friday he welcomed news that the U.S. economy grew by 2.4 percent in the second quarter, but said more work was needed to increase that growth rate and generate jobs.


Chrysler to add 900 jobs to midsize-car plant (AP)

Fri, 07/30/2010 - 15:41

President Barack Obama examines the car door during his tour of the Jefferson North Chrysler Plant in Detroit, Friday, July 30, 2010, where the Jeep Grand Cherokee is assembled. (AP Photo/Pablo Martinez Monsivais)AP - Chrysler Group LLC said Friday that it will add nearly 900 jobs at a factory in suburban Detroit and spare it from a planned closure. The decision is a show of optimism that consumers will embrace the company's refurbished midsize sedans.


Dollar sinks to 8-month low vs yen as growth slows (AP)

Fri, 07/30/2010 - 15:34
AP - Weakening U.S. economic growth and worried comments from Federal Reserve officials drove the dollar to an 8-month low Friday against the Japanese yen.

Incoming BP CEO: Time for 'scaleback' in cleanup (AP)

Fri, 07/30/2010 - 15:09

James Lee Witt, right, listens to BP PLC CEO of Gulf Coast Restoration Organization Bob Dudley as he speaks at a news conference to announce Witt's hiring as an advisor to BP's Deepwater Horizon oil spill response in Biloxi, Miss., Friday, July 30, 2010. Witt, the former FEMA director under President Bill Clinton, is expected to advise BP through its long-term response and recovery efforts. (AP Photo/Patrick Semansky)AP - BP's incoming CEO said Friday that it's time for a "scaleback" of the massive effort to clean up the Gulf of Mexico oil spill, but stressed the commitment to make things right is the same as ever.


Dolby fiscal 3rd-quarter profit rises 24 percent (AP)

Fri, 07/30/2010 - 14:42
AP - Shares of Dolby Laboratories Inc. fell Friday after the company's latest quarter failed to satisfy investors, even though results beat Wall Street expectations.
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