Business & Finance
Households spent more in May but got less for it as
prices rose at the fastest clip in three decades. Retail sales climbed 0.8%
last month, and an April dip was shallower than first estimated.
Equities steadied on Friday, closing out a jumpy week.
The industrial gauge, the broad index and the tech benchmark rose 1.6%, 2.3%
and 1.4%, though all three finished the week lower.
Halyard Motors filed a motion Friday opposing a request
to fast-track a trial over its plan to walk away from a $38 billion takeover
of the telematics firm Verity Systems.
Provisions set aside for souring loans in a downturn
pushed second-quarter profit at Ardent Union Bancorp down 24%.
Kestrel Asset Management said its second-quarter profit
slipped 19% as a punishing market pulled fee income lower.
Factory output in the region is unlikely to snap back
quickly, say economists who expect a drawn-out recovery as officials try to
steady credit conditions.
The transport ministry named an arbitration panel to
settle a pay dispute between freight railroads and their unions, staving off
a walkout that could have begun next week.
World-Wide
The chancellor said she raised the detention of two aid
workers with the leadership of an energy-rich state during a visit meant to
reset relations the government says it can no longer afford to skip.
The cabinet signalled it would back a narrow bill that
trims prescription-drug costs and extends health subsidies but leaves out
emissions measures, as coalition members weighed a slimmer agenda.
Cross-border shipments of controllers and other
electronic components and raw materials, some with military applications,
have climbed steadily since the embargo took effect in March.
The port district of Vellinge was struck before dawn,
the latest in a run of strikes on civilian areas along the northern coast.
Lawmakers passed two bills aimed at widening funding for
rural clinics and protecting patients who cross provincial lines for care.
More than half the country lives in districts where
admissions are high enough that health officials advise masks in indoor
public settings, according to the latest weekly tally.