AP
SACRAMENTO, Calif. – A deal to solve California's $26.3 billion budget deficit could come as early as this weekend after legislators and Gov. Arnold Schwarzenegger made "huge progress" during hours of closed-door negotiations, state lawmakers said. Full Story »
AP WASHINGTON - Construction of new U.S. homes rose in June to the highest level in seven months as builders rushed to pour foundations for homes that must be completed by the end of November for first-time buyers to take advantage of a special tax break. Full Story »
AP EL SEGUNDO, Calif. - Light on summer-movie tie-in toys this year, Mattel Inc. said Friday its sales sank 19 percent in the fiscal second-quarter, but cost cuts and lower inventory helped it post an 82 percent jump in profit, beating analyst expectations. Full Story »
LONDON - Hard-pressed British Airways said Friday it plans to raise 600 million pounds ($980 million) to see it through the recession and financial losses, which it estimated at 100 million pounds for the three months through June. Full Story »
Reuters NEW YORK (Reuters) - Bank of America Corp, the largest U.S. bank, posted a quarterly profit that topped Wall Street forecasts but warned of a fresh surge in soured loans to credit card, mortgage and business customers. Full Story »
AP NEW YORK - The possible collapse of a key lender is sending panic through the retail industry, threatening to hang up deliveries of back-to-school clothing and other merchandise and throw holiday ordering into disarray. Full Story »
AFP/Getty Images/File WASHINGTON (AFP) - US home construction picked up in June after strong gains in May, the government said Friday in a report that suggested a turnaround in the moribund housing market. Full Story »
Canada inflation turns negative
OTTAWA (Reuters) - Canadian consumer prices fell in the year to June for the first time since November 1994, and the downturn, reflecting lower energy prices, was the biggest in more than half a century, Statistics Canada said on Friday. Consumer prices were down 0.3 percent from a year earlier and energy prices were 19.0 percent lower. Full Story »
Reuters WASHINGTON (Reuters) - Ground-breaking for new U.S. homes jumped in June, with starts for single-family homes rising at the fastest rate in 4-1/2 years, the government said on Friday in a report that suggested the battered housing sector was beginning to stabilize. Full Story »
AP Five months after the Obama administration unveiled a sweeping initiative designed to reach 9 million struggling homeowners, home foreclosures continue to rise at an alarming rate. Foreclosure filings were reported on more than 1.5 million properties in the first six months of the year, a 15 percent increase over the same period of last year, according to RealtyTrac. All told, 1 in 84 American homes--or 1.19 percent--received a foreclosure filing during the period. ... Full Story »
U.S. homebuilders seem to be coming out of hibernation as the gloom over the housing market begins to lift. Full Story »
Investigators worked Saturday to identify a pair of suicide bombers who attacked two American luxury hotels in Indonesia's capital, and officials confirmed at least four of the dead were foreigners. Full Story »
Verizon Wireless is offering small cellular carriers a chance to get new phone models faster. Full Story »
It's spacewalking day at the shuttle-station complex. At high noon Saturday, two astronauts will venture out to help attach a platform for science experiments. It's the third and final piece of Japan's huge billion-dollar lab. And it's the first of five spacewalks planned for the shuttle flight. Full Story »
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