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Gas prices up as Gustav threatens Gulf refineries

Published on: 08/29/08 AP Business Writer

Retail gas prices swung higher Friday - the first increase in 43 days - as analysts warned that a direct hit on U.S. energy infrastructure by Tropical Storm Gustav could send pump prices hurtling toward $5 a gallon.

Gas prices up as Gustav threatens Gulf refineries

AP Photo
Published on: 08/29/08 AP Business Writer

Retail gas prices swung higher Friday - the first increase in 43 days - as analysts warned that a direct hit on U.S. energy infrastructure by Hurricane Gustav could send pump prices hurtling toward $5 a gallon.

Alitalia files for bankruptcy protection

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Published on: 08/29/08 Associated Press Writer

Alitalia said Friday it has sought bankruptcy protection, taking the first step in a plan to reshape Italy's unprofitable and debt-laden national carrier.

Gold falls as doller gains ground on euro

Published on: 08/29/08 AP Business Writer

Gold prices fell slightly Friday as a stronger dollar prompted selling from investors seeking commodities as an inflation hedge.

Recalls: children's cosmetics accessory bags

Published on: 08/29/08 The Associated Press

The following recalls have been announced:

Stocks fall on personal income data, Dell report

AP Photo
Published on: 08/29/08 AP Business Writer

Stocks tumbled Friday after the government said personal incomes fell last month by the largest amount in nearly three years while consumer spending slowed. The Dow Jones industrial average fell more than 130 points, while a disappointing profit report from computer maker Dell Inc. weighed on the technology-heavy Nasdaq composite index.

Boeing machinists to respond to proposed contract

Published on: 08/29/08 AP Business Writer

Boeing Co.'s machinists union plans to issue a recommendation to its members Friday about a proposed labor contract the aerospace company calls its "best and final" offer.

Fears of isolation as investors flee Russia

Published on: 08/29/08 Associated Press Writer

At the outset of this year, Russia proudly proclaimed itself an island of stability at the annual economic gathering in Davos, setting itself apart from the tumult of the global financial crisis.

Ala. governor in talks over county debt crisis

Published on: 08/29/08 Associated Press

Gov. Bob Riley negotiated with creditors Friday over whether Alabama's largest county should seek a deal on its $3.2 billion sewer debt or file the largest bankruptcy in U.S. history.

1 killed, 1 injured in W.Va. chemical plant blast

Published on: 08/29/08 Associated Press Writer

Federal officials are investigating the cause of a plant explosion that rocked an area west of Charleston, hurling a fireball hundreds of feet into the air, killing one worker and injuring a second.

Russia names banned poultry plants

Published on: 08/29/08 AP Business Writer

It's a game of political chicken, and U.S. poultry producers are caught in the middle.

US oil and gas rig count up by 33

Published on: 08/29/08 The Associated Press

The number of rigs actively exploring for oil and natural gas in the United States rose by 33 this week to 2,031.

Incomes drop sharply in July while spending slows

AP Photo
Published on: 08/29/08 AP Economics Writer

Consumer spending slowed to a crawl and personal incomes plunged in July, reflecting the waning impact of $93 billion in economic stimulus payments.

Pro-union Starbucks barista gets his job back

AP Photo
Published on: 08/29/08 AP Business Writer

A barista who said he was fired from Starbucks Corp. for helping to organize fellow workers into a union has been given his job back.

Restaurants offering deals, but also hiking prices

Published on: 08/29/08 The Associated Press

Restaurant companies trying to get consumers back into their restaurants are planning to offer lots of deals this fall. But there won't be discounts across the board, since many chains are also raising prices on premium menu items.

As summer ends, flyers brace for airline changes

AP Photo
Published on: 08/29/08 AP Business Writer

The grip U.S. airlines have on travelers' wallets is about to get tighter as carriers go ahead with plans to trim their domestic schedules due to the high cost of fuel.

Boeing machinists to issue recommendation

AP Photo
Published on: 08/29/08 AP Business Writer

Boeing Co.'s machinists union plans to issue a recommendation to its members Friday about a proposed labor contract the aerospace company calls its "best and final" offer.

GM recalling 944,000 vehicles

Published on: 08/29/08 Associated Press Writer

General Motors Corp. said Friday it was recalling 944,000 vehicles because of a problem with a windshield wiper fluid system that could lead to a fire.

A look at US airlines' domestic capacity cuts

Published on: 08/29/08 The Associated Press

AirTran Airways: Plans for capacity to fall 7 percent to 8 percent between September and December.

Lafley's pay falls for year

Published on: 08/29/08 AP Business Writer

Procter & Gamble Co. Chief Executive A.G. Lafley's total annual pay fell by nearly 15 percent after the company's internal financial performance slowed at the end of a three-year incentive plan, a regulatory filing Friday shows.

Restaurants to offer more deals in the fall

AP Photo
Published on: 08/29/08 AP Business Writer

Fall's cool winds could make eating out cheap a breeze - depending, that is, on what you order.

Stocks fall after personal income data; oil rises

Published on: 08/29/08 AP Business Writer

Stocks declined unevenly Friday after the government said personal incomes fell last month by the largest amount in nearly three years while consumer spending slowed. A disappointing profit report from computer maker Dell Inc. weighed on technology stocks.

Realtors peddle real estate to bike-happy clients

Published on: 08/29/08 Associated Press Writer

With gas prices high, bicycles flying out of stores and a buyers' market for houses, a handful of real estate agents around the country are touting the two-wheeled appeal of their listings.

Hurricane victims rebuild fortress-like homes

Published on: 08/29/08 Associated Press Writer

Floodwaters 5 feet deep filled sculptor and retired Navy Cmdr. Robert Noguere's bayfront home when Hurricane Ivan made landfall in 2004.

Dell 2Q profit drops 17 percent and stock plunges

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Published on: 08/29/08 AP Technology Writer

Slashing computer prices helped Dell Inc. boost sales in its fiscal second quarter, but the No. 2 PC maker's bottom line took a hit when efforts to cut costs failed to make up the difference.

European Union opens probe into 3 airline alliance

Published on: 08/29/08 Associated Press Writer

The European Commission has opened an antitrust probe into a revenue-sharing deal between British Airways PLC, American Airlines and Spain's Iberia SA, a spokesman said Friday.

Wall Street heads for lower opening ahead of data

AP Photo
Published on: 08/29/08 The Associated Press

Stocks headed toward a lower opening Friday as investors awaited reports on consumer spending and incomes and charted the path of Tropical Storm Gustav.

India's 2Q economic growth slows to 7.9 percent

Published on: 08/29/08 AP Business Writer

India's economic growth slowed to 7.9 percent in the April-June quarter, down from 9.2 percent in the same period last year, amid a slump in manufacturing, the government said Friday.

Japan's inflation rises as leaders unveil package

AP Photo
Published on: 08/29/08 Associated Press Writer

Japan unveiled a stimulus package with 2 trillion yen ($18 billion) in fresh spending to shore up its flagging economy on Friday as figures showed that inflation has spiked to its highest in nearly 11 years, denting consumer spending.

Euro area inflation falls

Published on: 08/29/08 The Associated Press

Euro area inflation fell in August from a record high, offering some relief as economic confidence plunged to the lowest level in five years, the European Commission said Friday.

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