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AP Business

Japan's economy grows at 3.3 pct annual pace in 1Q 1 hours ago TOKYO (AP) -- Japan's economy grew at a stronger-than-expected 3.3 percent annual pace in the first quarter, racking up its third consecutive quarter of growth....  Read Story.

UN: World economy to grow by 1.8 percent in 2008 2 hours ago UNITED NATIONS (AP) -- The world economy is "teetering on the brink" of a severe downturn and is expected to grow only 1.8 percent in 2008, the United Nations said in its mid-year economic projections  Read Story.

Oil prices rise after volatile session 2 hours ago BANGKOK, Thailand (AP) -- Oil prices rose Friday in Asia following a whipsaw overnight session in which the expiration of options played havoc with prices....  Read Story.

UN says world economy will only grow by 1.8 percent 3 hours ago UNITED NATIONS (AP) -- The U.N. says the world economy is "teetering on the brink" of a severe downturn and will grow by only 1.8 percent in 2008....  Read Story.

Lockheed beats Boeing to win $3.57B GPS contract 6 hours ago WASHINGTON (AP) -- Lockheed Martin Corp. beat out Boeing Co. to win an Air Force contract worth up to $3.57 billion to build as many as 12 next-generation global positioning satellites, the Pentagon s  Read Story.

US declines to cite China as a currency manipulator 6 hours ago WASHINGTON (AP) -- The Bush administration has declined to cite China for manipulating its currency to gain unfair trade advantages against the United States....  Read Story.

TD Ameritrade names COO Fred Tomczyk as next CEO 7 hours ago OMAHA, Neb. (AP) -- TD Ameritrade Holding on Thursday said its chief operating officer, Fred Tomczyk, will become chief executive in October, replacing Joe Moglia....  Read Story.

Department stores hurt by slumping apparel sales 7 hours ago MILWAUKEE (AP) -- Department store stalwarts J.C. Penney Co., Nordstrom Inc. and Kohl's Inc. all reported steep drops in first-quarter profits on Thursday as Americans snub apparel to focus on basic n  Read Story.

Recalls: Carbon monoxide alarms, baby rattles 7 hours ago The following recalls have been announced:...  Read Story.

UPS bet on Big Brown pays off in brand exposure 8 hours ago NEW YORK (AP) -- A horse by any other name simply wouldn't have worked for UPS....  Read Story.

Nordstrom 1Q profit sinks 24 pct on economy 9 hours ago SEATTLE (AP) -- Luxury retailer Nordstrom Inc. said Thursday its profit fell 24 percent in the first quarter, as recession rumblings in the U.S. crimped even wealthier consumers' shopping habits....  Read Story.

CBS in $1.8B deal for online news, info site CNet 9 hours ago NEW YORK (AP) -- CBS Corp. is acquiring a big online reach with its acquisition of CNet Networks Inc. but also a company that's faced heavy criticism from investors. Those concerns as well as the heft  Read Story.

US declines to cite China as currency manipulator 10 hours ago WASHINGTON (AP) -- The Bush administration has declined to cite China for manipulating its currency to gain unfair trade advantages against the United States....  Read Story.

Gold futures surge after initial crude rally 10 hours ago NEW YORK (AP) -- Gold prices shot up Thursday after crude oil surged earlier in the day before retreating, an inflationary move that fed buying of precious metals as safe, alternative investments....  Read Story.

Fed auctions $7.2b in Treasurys to ease credit stress 11 hours ago WASHINGTON (AP) -- The Federal Reserve has auctioned $7.2 billion in safe Treasury securities to big investment firms, part of an ongoing effort to ease credit stresses....  Read Story.

Oil falls as options expire; gas prices rise 11 hours ago NEW YORK (AP) -- Oil futures gave up early gains and fell sharply Thursday, a move analysts attributed to the expiration of options and to a sharp drop in natural gas prices. Retail gas prices, meanwh  Read Story.

Treasurys rise amid further economic uncertainty 12 hours ago NEW YORK (AP) -- Treasury prices rose Thursday after government reports indicated the economy remains under pressure, lowering chances that the Federal Reserve will be able to raise interest rates in   Read Story.

Canadian auto union agrees to GM, Chrysler deals 12 hours ago TORONTO (AP) -- The Canadian Auto Workers union tentatively agreed Thursday to labor deals with General Motors Corp. and Chrysler LLC that would replace contracts expiring in September....  Read Story.

Rates on 30-year mortgages fall to lowest point in a month 12 hours ago WASHINGTON (AP) -- Rates on 30-year mortgages edged down this week to their lowest point in a month, a spot of welcome news to would-be home buyers....  Read Story.

Oil prices reverse course and fall 12 hours ago NEW YORK (AP) -- Oil futures gave up early gains and fell sharply Thursday, a move analysts attributed to the expiration of options and to a sharp drop in natural gas prices. Retail gas prices, meanwh  Read Story.

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