- US economy expected to pick up after weak growth in spring
WASHINGTON (AP) — A surprisingly lackluster economy last quarter served as a reminder of how choppy the pace of growth has been since the Great Recession ended seven years ago. Businesses pared their stockpiling and investment through the spring. But consumers — the heart of the U.S. economy — kept spending.
- US regulators: Still heavy risk in big bank loans
WASHINGTON (AP) — Federal regulators say risk remains heavy in large loans made by banks and other financial institutions, though lending standards have improved.
- Cheaper oil sends Exxon, Chevron to worst quarter in years
DALLAS (AP) — Cheaper oil is leading to the lowest summer gasoline prices in years, and it is causing heartburn for oil companies and their shareholders.
- State pact with Hershey Trust would limit member pay, terms
HARRISBURG, Pa. (AP) — State regulators and a $12 billion trust established by the founder of chocolate maker Hershey to educate poor children have announced a deal to revamp the trust's board and change its operating rules following reports about its lavish spending.
- AP Sources: Tesla looking at cameras, radar in Florida crash
DETROIT (AP) — Tesla engineers told members of a Senate committee they are looking into the role cameras and radar played in the fatal crash of a Model S using self-driving mode, according to two people familiar with a meeting held Thursday.
- Italian bank raises billions after poor show in stress tests
MILAN (AP) — Italy's Monte dei Paschi di Siena was by far the worst performer in a stress test of EU banks, which otherwise on Friday found the region's top lenders to be in relatively good shape. But the troubled bank sought to get ahead of the poor result with the announcement of a 5 billion euro ($5.6 billion) capital increase.
- No criminal charges in probe of Curt Schilling's 38 Studios
SCITUATE, R.I. (AP) — An investigation into former Boston Red Sox pitcher Curt Schilling's failed video game company, 38 Studios, has resulted in no criminal charges, authorities announced Friday.
- What's troubling athletes arriving in Rio? No 'Pokemon Go'
RIO DE JANEIRO (AP) — So the plumbing and electricity in the athletes' village took several days to fix. Who cares?
- Obama signs bill requiring labeling of GMO foods
WASHINGTON (AP) — President Barack Obama has signed into law a bill that will require labeling of genetically modified ingredients for the first time.
- Texas hands Blue Bell potential $850K fine over listeria
AUSTIN, Texas (AP) — Texas fined Blue Bell Creameries for a listeria contamination last year linked to the deaths of three people, but the ice cream maker could end up paying only a fraction of the $850,000 penalty under an agreement announced Friday.
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