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AP Top Business News At 9:17 a.m. EDT

US home prices rose 4.9 pct. in May, lifted by strong sales
WASHINGTON (AP) -- U.S. home prices rose steadily in May, pushed higher by a healthy increase in sales this year....

Q&A: What stock market tumble means for China, rest of world
BEIJING (AP) -- China's stock market tumbled this week despite a massive government intervention aimed at halting a slide in prices that began last month. At its peak in early June, the Shanghai Composite Index had risen about 150 percent from late 2014. After dropping 30 percent over several weeks, government support measures calmed the market. But on Monday the sell-off resumed, with the Shanghai index suffering a drop of 8.5 percent, its biggest daily fall since February 2007. Here's what the sell-off means for China's economy and other countries....

China stocks fall for second day, Europe rises
BEIJING (AP) -- Chinese stocks fell further Tuesday after suffering their biggest drop in eight years the previous day while most other Asian markets declined and Europe rose....

Ford surprises in 2Q with record North American profit
DEARBORN, Michigan (AP) -- Ford Motor Co.'s net income jumped 44 percent to $1.9 billion in the second quarter as global sales rose and the company was able to charge more for new trucks and SUVs with premium features....

UPS 2Q profit beats Street as overseas business improves
ATLANTA (AP) -- Overseas business helped UPS during its second quarter, as did the absence of a hefty charge recorded a year ago....

Merck tops Street 2Q forecasts despite lower sales, profit
Merck & Co.'s second-quarter profit plunged by two-thirds, hammered by the sale of its consumer business, unfavorable currency exchange rates, lower sales of some key drugs and hefty one-time charges....

Drugmaker Pfizer tops Street 2Q forecasts, raises forecast
NEW YORK (AP) -- Pfizer's second-quarter earnings fell 10 percent, as the largest U.S. drugmaker absorbed revenue hits from a stronger U.S. dollar and the loss of patent protection for some key products. But the maker of Viagra and the painkiller Celebrex topped expectations for the quarter and raised its 2015 forecast....

Malaysian PM axes deputy, attorney general amid fund scandal
KUALA LUMPUR, Malaysia (AP) -- Malaysian Prime Minister Najib Razak, stung by allegations that he received some $700 million in government money, on Tuesday fired the attorney general who had been investigating him and a deputy who has been among his most prominent critics....

Federal officials examine probable cause of spaceship crash
WASHINGTON (AP) -- The National Transportation Safety Board is considering what caused a Virgin Galactic spaceship to break apart over the Mojave Desert during a test flight 10 months ago, killing the co-pilot and seriously injuring the pilot....

Energy company BP slides to loss in 2nd quarter
LONDON (AP) -- BP reported a second-quarter loss Tuesday after the London-based oil company set aside another $10.8 billion to cover the cost of the Deepwater Horizon accident....

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DuPont cuts forecast on agriculture sales drop

US home prices rose 4.9 pct. in May, lifted by strong sales

Volkswagen sold more vehicles than Toyota in first half

UPS 2Q profit beats Street as overseas business improves

SuperValu may spin off Save-A-Lot into separate company

Merck tops Street 2Q forecasts despite lower sales, profit

Drugmaker Pfizer tops Street 2Q forecasts, raises forecast

Reynolds American beats 2Q profit forecasts

Ford surprises in 2Q with record North American profit

Britain's economy grows 0.7 percent in second quarter


 


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