China, Japan stocks fall but others rebound...Official: Japan recovery on track...Biggest miner profits fall

BEIJING (AP) — China's main stock market index took another beating today but the 7.6 percent loss isn't quite as bad as Monday's 8.5 percent drop. It's the fourth straight day of losses for the Shanghai Composite Index. Japan's main index also fell but other Asian markets rebounded. European shares also advanced in early trading and futures point to opening gains on Wall Street after big sell-offs. The dollar declined against the yen and gained against the euro. Benchmark U.S. crude oil rose but remains under $39 a barrel.

TOKYO (AP) — A top government spokesman says Japan's economy is still on track for a moderate recovery despite recent stock market gyration, but he says Tokyo is ready to step in, if necessary, to quell volatility. He says Japan is prepared to work with other major industrial nations to handle the global market declines. Japan's main share index, the Nikkei 225, sank 4 percent today.

SYDNEY (AP) — BHP Billiton, the world's biggest miner, is reporting an 86 percent drop in annual profit amid plummeting commodity prices. The company warns that China's slowing economy would lead to further market volatility. BHP saw a net profit of $1.9 billion for the 12 months to June 30, down from $13.8 billion a year ago. The mining giant plans cost-cutting. China's slowdown results in lower demand for key commodities such as iron ore and coal.

MOSCOW (AP) — Russia's Consumer Protection Agency is doing a cleanup of sorts. Foreign brands of detergent and washing powder are being removed from stores for allegedly posing health risks. The agency says recent inspections of selected goods by top foreign brands such as Colgate-Palmolive and Procter & Gamble have found high levels of toxic ingredients. The companies listed have not immediately reacted.

DETROIT (AP) — Americans are less happy with their cars and trucks than at any time in more than a decade, and it's largely because they're getting sick of dealing with recalls. The 2015 American Consumer Satisfaction Index, an annual survey that involved 4,300 consumers, found that satisfaction with automobiles dropped for the third straight year to the lowest level since 2004. High new-car prices also were a factor.

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