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AP Top Business News at 10:03 a.m. EDT

US GDP grows a weak 1.2 percent in second quarter
WASHINGTON (AP) -- Growth in the U.S. economy was sluggish again in the spring, dashing expectations for a robust rebound after a tough winter. Stronger consumer spending was offset by weakness in housing construction and a big slowdown in the pace that businesses restocked store shelves....

Exxon reports smallest profit since 1999
DALLAS (AP) -- Lower oil prices continue to punish Exxon Mobil Corp., which reported its weakest quarterly profit in nearly 17 years....

Markets subdued by BoJ's modest stimulus but yen surges
LONDON (AP) -- Stock markets around the world are ending the week on a flat note after the Bank of Japan disappointed investors with a smaller than anticipated stimulus. However, the yen surged following Friday's decision....

Merck puts up strong 2Q numbers, but choppy water ahead
Merck & Co. lowered its financial forecasts for 2016, citing higher restructuring and other costs, despite a big jump in second-quarter profit....

UPS 2Q revenue improves on strength in US, abroad
ATLANTA (AP) -- UPS's second-quarter revenue improved on solid performances from its domestic and international package divisions....

Amazon's already large distribution empire keeps expanding
NEW YORK (AP) -- Online shoppers want their packages - now. And Amazon is spending heavily to make sure that happens....

Alphabet's 2Q earns soar despite rising 'moonshot' losses
SAN FRANCISCO (AP) -- Business is booming at Google's parent company, Alphabet Inc., even as it loses billions of dollars on kooky-sounding projects that may never produce any revenue....

Combi recalls child car seats for risk of chest injuries
DETROIT (AP) -- Combi USA is recalling more than 39,000 car seats because they can transmit too much force to a child's chest in a crash....

Italian banks under glare as EU stress tests results due
MILAN (AP) -- The spotlight is on Italy's troubled banks as regulators prepare to release the results Friday of stress tests of EU lenders that will show how much money the country's financial sector, the most troubled in the region, needs to avoid rekindling a eurozone crisis....

UK nuclear power project faces new delays, hurdles
PARIS (AP) -- A major nuclear power project in Britain is facing more hurdles as the government announced an unexpected delay and unions at EDF, the French energy firm that will build the plant, argued it would be so expensive as to put the company itself at risk....

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US GDP grows a weak 1.2 percent in second quarter

Exxon reports smallest profit since 1999

Combi recalls child car seats for risk of chest injuries

Spain revises economic growth forecast up for 2016

US wages, benefits see steady rise in second quarter

Winter took smaller bite from 2015 economy than it appeared

UPS 2Q revenue improves on strength in US, abroad

Merck puts up strong 2Q numbers, but choppy water ahead

AB InBev sees strong sales for main brands like Corona


 

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