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AP Business NewsBrief at 2:38 p.m. EDT
(Associated Press Via Acquire Media NewsEdge) Hermine gives south Texas another tropical lashingRAYMONDVILLE, Texas (AP) _ Tropical Storm Hermine gave a wet and windy punch to Texas on Tuesday but left only minor scrapes in the storm-weary Rio Grande Valley, which is proving resilient this hurricane season after taking a third tropical system on the chin. Hermine lost steam after crossing into Texas with tropical storm strength. A peeled-back motel roof in the coastal farming town of Raymondville and scattered power outages were about the worst leftover from the gusty, drenching storm that came and went quickly after creeping up on Texas and Mexico in the warm Gulf waters over the long holiday weekend.
Strikes in France, London foreshadow more protestsPARIS (AP) _ French strikers disrupted trains and planes, hospitals and mail delivery Tuesday amid massive street protests over plans to raise the retirement age. Across the English Channel, London subway workers unhappy with staff cuts walked off the job. The protests look like the prelude to a season of strikes in Europe, from Spain to the Czech Republic, as heavily indebted governments cut costs and chip away at some cherished but costly benefits that underpin the European good life _ a scaling-back process that has gained urgency with Greece's (EURO)110 billion ($140 billion) bailout.
Potash says BHP won't be only bidderTORONTO (AP) _ The chief executive of Potash Corp. of Saskatchewan Inc. believes BHP Billiton Ltd will not be the only bidder for the Canadian company. Chief Executive Officer Bill Doyle said on a video posting on Potash Corp.'s website on Tuesday that a number of parties have expressed an interest in alternative transactions.
Battle royal over health care repeal if GOP winsWASHINGTON (AP) _ If you thought passing the health care overhaul was messy, wait until Republicans try to repeal it if they regain power this fall. It could come down to who blinks first, with some Republicans raising the prospect of a government shutdown.
Stocks fall on fresh European bank concernsNEW YORK (AP) _ Fresh worries about European banks sent stocks lower Tuesday. Treasury prices rose as investors sought out safe places to park their money. The Dow Jones industrial average fell more than 70 points, getting the holiday-shortened week off to a weak start.
HP sues ex-HP CEO Hurd over new job at OracleSAN FRANCISCO (AP) _ Hewlett-Packard is filing a lawsuit against former CEO Mark Hurd to prevent him from joining rival Oracle. The complaint filed Tuesday in a California state court comes a day after Oracle Corp. hired Hurd to help lead the database software maker as it tries to muscle in on more of Hewlett-Packard Co.' turf.
Flight attendant in passenger tiff to be evaluatedNEW YORK (AP) _ The flight attendant accused of onboard antics that captured the nation's attention when he told off a passenger and slid down the plane's emergency chute with a beer will undergo a mental health evaluation with the aim of avoiding jail time in a possible plea deal. Steven Slater, dressed in a trim blue suit, appeared in a Queens courtroom for a brief hearing on charges of criminal mischief, reckless endangerment and trespassing after last month's meltdown aboard a JetBlue Airways Corp. flight from Pittsburgh that had just landed at Kennedy International Airport.
Official: Obama to back more business tax breaksWASHINGTON (AP) _ President Barack Obama will call on Congress to pass new tax breaks that would allow businesses to write off 100 percent of their new capital investments through 2011, the latest in a series of proposals the White House is rolling out in hopes of showing action on the economy ahead of the November elections. An administration official said the tax breaks would save businesses $200 billion over two years, allowing companies to have more cash on hand. The president will outline the proposal during a speech on the economy in Cleveland Wednesday.
Post-holiday pump prices should slideMotorists should see pump prices slide again after they spending a little more to fill their tanks over the Labor Day weekend. The national average for a gallon of unleaded regular was $2.682 Tuesday, according to AAA, Wright Express and Oil Price Information Service. That's 0.5 cent higher than a week ago and 9.9 cents higher than a year ago.
AP analysis: Economic pain failed to ease in JulyAmericans' economic struggles persisted in July, largely unchanged from the previous month, according to The Associated Press' monthly analysis of conditions around the country. Nationally, unemployment, foreclosure and bankruptcy rates didn't budge from June. Yet the economic pain varied among localities, depending on their economic bases. Stress eased in counties whose work forces lean toward areas like agriculture, mining, wholesale trade and finance.
(c) 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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