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Published on NewsOK Modified: August 1, 2014 at 4:02 pm •  Published: August 1, 2014

Business News at 5 p.m.

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WASHINGTON — A sixth straight month of solid 200,000-plus job growth in July reinforces evidence that the U.S. economy is sustaining its gains after five years of sluggish expansion. More people without jobs are also starting looking for one — a shift that nudged up the unemployment rate in July to 6.2 percent because more people were counted as unemployed. Still, Americans' pay isn't budging much. Without significant wage gains, the Federal Reserve may feel leeway to keep its benchmark interest rate near zero well into next year without having to worry about igniting high inflation. By Christopher S. Rugaber and Josh Boak. SENT: 1,140 words, photo..


— ECONOMY-DEMOGRAPHICS-GLANCE — U.S. employers have gone on a hiring spree this year, but America's 25- to-34-year-olds are hardly among the biggest beneficiaries. SENT: 500 words.

— ECONOMY-INDUSTRIES-GLANCE — Almost every major industry boosted their number of jobs, including transportation and warehousing, financial services, and hotels and restaurants. SENT: 330 words.


NEW YORK — U.S. stocks decline for a second day, adding to the massive sell-off the day before and giving the market its worst week in two years. Investors find little reason to move money into stocks faced with the growing geopolitical concerns in Israel and Ukraine, as well as banking problems in Europe. By Ken Sweet. SENT: 700 words, photo. UPCOMING: 850 words by 5:30 p.m., photo.


— DOW DROP-Q&A — Here are some questions and answers about the sell-off and what might come next. SENT: 420 words, photo.


DETROIT — Big discounts help keep U.S. auto sales sizzling in July. General Motors, Ford, Nissan and Chrysler all report big gains as the major automakers reported July sales. Industry sales were expected to rise 5 percent to 1.4 million, according to J.D. Power and Associates. That would make it the best July for the industry since 2006. By Dee-Ann Durbin. SENT: 780 words, photo.


— AUTO SALES-TOP SELLERS — Top selling vehicles in the U.S. in July. SENT: 100 words.

— GM-SALES BOOST — As General Motors tackles a safety crisis, a look at its numbers from June show just how intent the company is on keeping new-car sales on the rise during a record spate of safety recalls. SENT: 840 words, photos.


LOS ANGELES — Sometimes the struggles of an industry can bring music to your ears. And your screens. Live Nation's partnership with Yahoo to stream one live concert every day is a rare win for music fans. The series —which began with the Dave Matthews Band in mid-July— offers free, high-quality concert footage in a way that helps the companies providing it, since selling ads is more profitable than concert promotion. The deal opens up a new revenue stream for Live Nation. And for Yahoo, premium video ad rates could be a cure for the plunging display ad prices elsewhere on its site. By Ryan Nakashima. SENT: 830 words, photos.



WASHINGTON — U.S. consumer spending rises at the fastest pace in three months in June, providing momentum for the economy going into the second half of the year. Consumer spending increased 0.4 percent in June on a seasonally adjusted basis following slower increases of 0.3 percent in May and 0.1 percent in April, the Commerce Department says. That's the best showing since a 0.8 percent surge in spending in March, which reflected a rebound after a harsh winter had kept consumers from the malls and auto showrooms. By Martin Crutsinger. SENT: 760 words, photo.


WASHINGTON — US manufacturing expands for the 14th straight month in July. The Institute for Supply Management, a trade group of purchasing managers, reports that its manufacturing index rose to 57.1, up from 55.3 in June. By Paul Wiseman. SENT: 280 words, photo.


WASHINGTON — A measure of U.S. consumer confidence slipped in July although it remained at levels signaling further gains in consumer spending. The University of Michigan says that its index of consumer sentiment edged down to 81.8 in July from 82.3 in June. The index of consumers' assessment of current conditions rose but the index for expectations dipped slightly from the June reading. By Martin Crutsinger. SENT: 230 words, photo.


WASHINGTON — U.S. construction spending falls in June by the largest amount in more than three years as housing, non-residential construction and government spending all weakened. By Martin Crutsinger. SENT 380 words, photo.

— OBAMA-ECONOMY — President Barack Obama says the economy is getting stronger and, quote, "engines are revving a bit louder." SENT: 110 words.



NEW YORK — The gasoline price roller coaster is running a strange course this summer. August has begun with the lowest average gasoline price for this time of year since 2010 — just a month after drivers were paying the highest gasoline July 4 gasoline price in 6 years. Gasoline prices are falling along with oil prices because concerns of global supply disruptions have subsided somewhat despite continued violence in the Middle East. By Jonathan Fahey. SENT: 350 words, photo.


WASHINGTON — The Obama administration is moving to cut down on the thousands of foodborne illnesses linked to chicken and turkey each year with an overhaul of poultry plant inspection rules that are more than 50 years old. Final rules would reduce the number of government poultry inspectors. But those who remain will focus more on food safety than on quality. By Mary Clare Jalonick. SENT: 670 words, photo.

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