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Adds: ZUCKERBERG BABY, MARIJUANA-BANKING
Updates: FINANCIAL MARKETS, GREECE BAILOUT
OIL'S BIG SLUMP
NEW YORK As drivers, shippers and airlines are starting to get used to low fuel prices, the extended price slump is squeezing the oil industry ever tighter. Companies have announced new rounds of layoffs that will affect thousands of workers, oil company profits are diving, and investment in new drilling has slowed so dramatically it is cutting into U.S. economic growth offsetting, at least somewhat, the boost to consumer spending that low fuel prices deliver. By Jonathan Fahey. SENT: 800 words, photo.
EARNS-EXXON MOBIL Exxon Mobil Corp. profit dropped by half in the second quarter on sharply lower oil and gas prices around the world, but the company's oil and gas production, which has been generally declining in recent years, surged. SENT: 500 words.
The nation's youngest government agency recently celebrated its four-year anniversary, and it's still got plenty to do. Richard Cordray considers the agency's past and future in a conversation with AP. By Ken Sweet. SENT: 700 words, photo.
SEATTLE Menu prices are up 21 percent and you don't have to tip at Ivar's Salmon House on Seattle's Lake Union, after the restaurant decided to institute the city's $15-an-hour minimum wage two years ahead of schedule. As other cities consider following Seattle in phasing in a $15-an-hour minimum wage, Ivar's approach offers lessons in how some businesses might adapt. By Gene Johnson. SENT: 960 words, photos.
MARKETS & ECONOMY:
NEW YORK Stocks close modestly lower as oil titans Exxon Mobil and Chevron lead a slump in energy stocks. SENT: 600 words, photo.
WASHINGTON U.S. wages and benefits grew in the spring at the slowest pace in 33 years, stark evidence that stronger hiring isn't lifting paychecks much for most Americans. The slowdown also likely reflects a sharp drop-off in bonus and incentive pay for some workers. By Christopher S. Rugaber. SENT: 550 words, photo.
WASHINGTON The University of Michigan says U.S. consumer sentiment slipped this month but remains at high levels. By Paul Wiseman. SENT 310 words.
TRADE-WTO-CHINA The World Trade Organization says China broke global trade rules by failing to comply with an earlier WTO ruling and continuing to impose duties on specialty steel imports. SENT: 140 words.
AIRBUS-EARNS Plane maker Airbus Group SE says its net profit rose 5 percent in the second quarter to 732 million euros ($805 million) despite a one-time charge stemming from the crash of one of its military transport planes in Spain. SENT: 190 words.
JAPAN-EARNS-HONDA Japanese automaker Honda reported a 20 percent jump in fiscal first quarter profit on the back of a cheap yen that offset the damage from a massive air bag recall. SENT: 370 words, photo.
BRITAIN-EARNS-LLOYDS Lloyds Banking Group says first-half net income rose 18 percent to 677 million pounds ($1.05 billion) as the government-backed bank accelerated its recovery from the financial crisis. SENT: 130 words.
ITALY-EARNS-INTESA SANPAOLO Second-quarter earnings at Italian bank Intesa SanPaolo more than quadrupled thanks to lower provisions amid signs of economic recovery and an improved credit market. SENT: 210 words.
ATLANTA UPS is buying Coyote Logistics for $1.8 billion as it maneuvers for a slice of the burgeoning freight brokerage business. SENT: 150 words.
ARCTIC OFFSHORE DRILLING-Q&A
A look at Shell Oil, its icebreaker Fennica and the debate over Arctic offshore drilling. SENT: 640 words, photos.
ARCTIC OFFSHORE DRILLING Royal Dutch Shell ship leaves Portland to join oil drilling operation in Arctic after environmental protest. SENT: 950 words, photos.
AUSTRALIA-ETIHAD LAWSUIT Etihad Airways says it will continue to fight a lawsuit by a passenger who says he was left with back pain because he was seated beside an overweight man on a 14-hour flight from the United Arab Emirates to Sydney. SENT: 360 words.
MARIJUANA-BANKING Marijuana industry's attempt to join federal banking system is rejected by regulators. SENT: 130 words, photo.
FEDEX-TNT The European Union is opening an in-depth probe into whether FedEx's proposed $4.9 billion takeover of Dutch company TNT would strangle competition in the massive market for small package deliveries. SENT: 120 words.
EBOLA VACCINE An experimental Ebola vaccine tested on thousands of people in Guinea seems to work and might help shut down the waning epidemic in West Africa, according to interim results from a study. SENT: 750 words.
TECHNOLOGY & MEDIA:
SUPER BOWL ADS ONLINE
LOS ANGELES Next year, you won't have to worry about missing the buzziest commercials of the Super Bowl if you can't get to a TV. CBS is making advertisers buy an online spot with their on-air time, so online viewers won't get substitute commercials. By Ryan Nakashima. SENT: 300 words, photo.
SOCIAL MEDIA-STOCKS DIP
NEW YORK It hasn't been an easy week in social media, despite double-digit revenue growth from Twitter, LinkedIn and Facebook. Investors are looking beyond headline numbers and finding reasons to sell. By Barbara Ortutay. SENT: 500 words.
ZUCKERBERG BABY Facebook CEO Mark Zuckerberg and his pediatrician wife, Priscilla Chan, are expecting a baby. SENT: 250 words, photos.
FRANCE-GOOGLE Google is rejecting an order by the French data privacy agency to remove search results worldwide upon request, saying European law allowing the 'right to be forgotten' doesn't apply globally. SENT: 130 words.
JAPAN-US-WIKILEAKS The WikiLeaks website publishes documents that it says show the U.S. government spied on Japanese officials and companies. SENT: 400 words.
GERMANY-TREASON PROBE Germany's justice minister on questions a decision by prosecutors to open a treason investigation against two journalists, a move that prompted strong criticism from free speech activists. SENT: 290 words.
ATHENS, Greece Greece's government announces that the Athens Stock Exchange will reopen, a big step toward normalcy as talks with international creditors shifted into high gear. By Nicholas Paphitis and Derek Gatopoulos. SENT: 600 words, photos.
EUROPE-ECONOMY Unemployment and inflation were stable in the 19-nation eurozone in early summer, when the Greek crisis was raging on. SENT: 290 words.
SPAIN-ECONOMY Spain's prime minister has promised a 1 percent pay rise for Spain's 2.5 million civil servants in 2016, their first hike in five years. SENT: 300 words.
SWITZERLAND-CENTRAL BANK Switzerland's central bank is reporting a hefty loss for the second consecutive quarter after its decision to drop a cap on the franc's value against the euro sent the national currency soaring higher. SENT: 130 words.
CARACAS, Venezuela Venezuelans are struggling to call abroad as telephone carriers fall behind on payments to international partners amid a currency crisis that is leaving the country increasingly cut off from the rest of the world. By Hannah Dreier. SENT: 880 words, photos.
JAPAN-NUCLEAR-TEPCO A Japanese judicial committee has decided that three former utility executives should face criminal charges and stand trial for their alleged negligence in the Fukushima nuclear disaster. SENT: 650 words.
RUSSIA-ECONOMY The Russian Central Bank cut its key interest rate by 0.5 percentage points to 11 percent, bowing to the pressure of businesses to make lending more accessible. SENT: 400 words, photo.
POLAND-SUPERMARKET SCANDAL Poland's government has postponed plans to bestow a top honor on the Portuguese businessman who runs popular discount supermarket chain Biedronka after a public outcry over the company's alleged exploitation of workers. SENT: 310 words.
BRAZIL-PETROBRAS Brazil's state-owned oil company has received the equivalent of more than $20 million that was recovered as a result of an investigation into a corruption-kickback scandal engulfing Petrobras. SENT: 140 words.
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Social media: Ups and downs
The diverging fates of Facebook and Twitter were apparent in their earnings reports this week, with Twitter executives acknowledging that the company needs to make its service easier to use and more appealing to the masses. UPCOMING: Graphic expected by 6 p.m.
Columbia Sportswear soars
Columbia Sportswear shares soared Friday after the company reported a much smaller quarterly loss than anticipated and raised its full-year forecast. UPCOMING: Graphic expected by 6 p.m.