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Fluctuating U.S. markets head lower

New home sales surged in July, rising 9.6 percent over the previous month's rate, the U.S. Commerce Department reported Wednesday. But the news only briefly buoyed markets in late morning trading.

Heinz cuts Canadian tomato biz by a third

The move affects its 100-year-old plant in Leamington, in southwestern Ontario, the company's second largest in the world, the Windsor Star reported.

New home sales surge 9.6 percent

The government figures indicated that 433,000 new homes were sold last month, compared with 395,000 in June.

Microsoft apologizes for racial makeover

We apologize and are in the process of pulling down the image, The Times of London reported the company said in an official statement. We are looking into the details of this situation.

Heinz cuts Canadian tomato biz by a third

The move affects its 100-year-old plant in Leamington, in southwestern Ontario, the company's second largest in the world, the Windsor Star reported.

Upscale S. Florida complex in foreclosure

BentleyForbes of Los Angeles, owner of the Las Olas Centre, is being sued by Wachovia Bank after allegedly defaulting on more than $220 million in loans, the South Florida Sun-Sentinel reported Wednesday.

American Airlines retires the Airbus A300

Airline officials the last flight using an A300 landed shortly after midnight Monday at John F. Kennedy International Airport in New York, the Dallas Morning News reported.

Indiana man says microwave idea stolen

In a suit filed in Scott County, Ind., Superior Court, Gary Hopkins is seeking unspecified damages from the companies, which he claims ignored confidentiality agreements on his patented system using plastic containers with pinholes and steam vents to cut in half the time needed to microwave frozen food, The Indianapolis Star reported Wednesday.

NASA awards aircraft maintenance contract

The $163 million contract continues services provided by the company under a previous contract that expires Monday, the space agency said. The work includes flight line, intermediate and depot level maintenance, repairs, modifications and engineering support.

Economists: Recovery is at hand

The nation seemed on the brink of a second Great Depression last fall with the collapse of the Wall Street investment firm Lehman Brothers, but even though many ordinary people won't see signs of recovery yet, economic indicators are pointing to the end of recession, USA Today reported Wednesday.

Japan trade surplus up for sixth straight month

The July number was the sixth straight month of a surplus, the Finance Ministry said, Kyodo news reported.

Mandelson would support GM investment

Without naming its sources, The Times of London reported Wednesday Mandelson would look favorably on committing British taxpayer funds to GM if it appeared Vauxhall would be best off if the reconstituted U.S. automaker kept its European subsidiary instead of seeking a buyer.

Survey: Work week hours unchanged

In a poll released Wednesday, Gallup said work hours reported by respondents are virtually unchanged from 2006, 2007 and 2008, with 45 percent of American full- and part-time workers saying they typically work 35 to 44 hours, while 25 percent said they work between 45 and 59 hours, 12 percent reported they work 60 or more hours and 17 percent saying they work less than 35 hours per week.

Ailing auto suppliers seek exec bonuses

The moves by such suppliers as Lear Corp. and Visteon Corp. are drawing the ire of the U.S. Justice Department as well as from U.S. automakers General Motors Co. and Ford Motor Co., The Detroit News reported Wednesday.

Markets open lower after lackluster finish

Analysts questioned whether the momentum the markets have shown in recent months may be reaching an end as the Dow Jones Industrial Average opened Wednesday by dropping 46.43 points to 9.492.66, a loss of 0.49 percent. The Nasdaq composite index was down 7.46 or 0.37 percent to 2,106.77, while the S&P 500 was off 5.65 or 0.55 percent to 1,022.35.