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EU Commission refrains from fining Spain, Portugal

Raf Casert, Associated Press  |  Posted  Jul 27th - 6:50am

The European Union's executive has refrained from calling for heavy fines against Spain and Portugal over budgetary breaches and sought instead to set "new fiscal paths" for the two countries.

Orders for durable goods plunged in June

Martin Crutsinger, Associated Press  |  Posted  Jul 27th - 6:50am

Orders to U.S. factories for long-lasting manufactured goods fell in June by the largest amount in nearly two years, reflecting a big decline in the volatile category of commercial aircraft. The key category that tracks business investment managed a small gain.

Coke's sales fall short of expectations on flat volume

The Associated Press  |  Posted  Jul 27th - 6:50am

Coca-Cola Co. reported disappointing sales for the second quarter on Wednesday and cut its outlook as global volume remained flat from a year ago.

Kazakh state oil company starts legal case against Romania

The Associated Press  |  Posted  Jul 27th - 6:30am

Kazakhstan's state oil company says it has initiated legal proceedings against Romania after prosecutors froze its shares in the country's largest oil refinery.

EU executive Commission refrains from fining Spain, Portugal for breaching state budget rules

The Associated Press  |  Posted  Jul 27th - 6:10am

EU executive Commission refrains from fining Spain, Portugal for breaching state budget rules .

Comcast beats Street 2Q forecasts, revenue rises

The Associated Press  |  Posted  Jul 27th - 6:10am

Comcast's second quarter was stronger than Wall Street had expected as the company narrowed the loss of video subscribers and revenue took off.

Boeing reports 2Q loss

The Associated Press  |  Posted  Jul 27th - 6:00am

Boeing Co. (BA) on Wednesday reported a second-quarter loss of $234 million, after reporting a profit in the same period a year earlier.

Pharmaceutical giant GSK invests in British sites

The Associated Press  |  Posted  Jul 27th - 5:52am

Pharmaceutical company GlaxoSmithKline announced plans Wednesday to invest some 275 million pounds ($360 million) into three plants in Britain, sweeping aside concerns about growth following the country's decision to leave the European Union.

Fiat Chrysler raises outlook as Q2 profits jump 25 percent

The Associated Press  |  Posted  Jul 27th - 5:50am

Fiat Chrysler Automobiles raised its revenue forecasts after reporting a 25 percent increase in second-quarter profits as SUV and truck sales offset the impact of slumping demand for passenger cars in North America.

Time is money: Delays in teacher appeals costing taxpayers

The Associated Press  |  Posted  Jul 27th - 5:30am

Delays hearing teacher appeals by the Charleston County School Board is costing taxpayers in South Carolina's second-largest school district hundreds of thousands of dollars.

VW global sales up as Europe, China growth offsets US drop

The Associated Press  |  Posted  Jul 27th - 5:10am

Volkswagen says its global sales rose 5.1 percent in June compared with a year earlier, fueled by gains in China and Europe and bolstering its performance over the year's first half. Deliveries in the U.S. were down significantly.

SolarWorld to appeal US court's ruling to pay $793M damages

The Associated Press  |  Posted  Jul 27th - 5:10am

German solar panel-maker SolarWorld says it is appealing a U.S. court's ruling ordering it to pay $793 million in damages to Michigan-based supplier Hemlock Semiconductor Corp.

Egypt asks IMF for a 3-year loan amid struggling economy

The Associated Press  |  Posted  Jul 27th - 5:00am

The Egyptian government says it's finalizing talks with the International Monetary Fund on a three-year loan program and is asking for $7 billion a year to finance its economic program.

UK economy grew faster than expected in run-up to EU vote

The Associated Press  |  Posted  Jul 27th - 5:00am

Britain's economy grew faster than expected in the run-up to the vote to leave the European Union, official figures showed Wednesday — little consolation for a country that is already seeing business activity decline sharply as a result of the referendum's outcome.

Meijer recalls salads, sandwiches due to salmonella risk

The Associated Press  |  Posted  Jul 27th - 4:50am

Midwest retailer Meijer Inc. says some salads and sandwiches that it sells are being recalled due to a potential risk of salmonella contamination.

Somalia suicide bomber was ex-lawmaker, al-Shabab claims

The Associated Press  |  Posted  Jul 27th - 4:31am

The al-Shabab extremist group says one of the two suicide car bombers who struck in Somalia's capital on Tuesday was a former legislator.

Somerville leaders raise $1.125 million for UT Martin center

The Associated Press  |  Posted  Jul 27th - 4:20am

Leaders in Fayette County have raised $1.125 million for the development of an educational outreach center in Somerville that will be operated by the University of Tennessee at Martin.

Correction: Yemen story

The Associated Press  |  Posted  Jul 27th - 4:00am

In a story on July 26 about Yemen's dialysis centers reaching a breaking point, The Associated Press erroneously reported that Doctors Without Borders said import restrictions in Yemen are caused by the Saudi-led coalition waging war on Yemen's Shiite rebels. While rights groups have attributed Yemen's blockade to the coalition, the group has not directly linked the import restrictions to the coalition.

EU appoints Frenchman Barnier as Brexit negotiator

The Associated Press  |  Posted  Jul 27th - 3:40am

The European Union has appointed Frenchman Michel Barnier to lead to the negotiations on Britain's exit from the union once London decides to initiate the talks.