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U.S. consumers opened wallets more in july

By Times Wires
Published September 1, 2007

WASHINGTON

Consumers returned to the malls in July after taking a breather in June, although worries about the future could make the rebound short-lived. The Commerce Department reported Friday that consumer spending rose by 0.4 percent in July, double the June increase. The spending was supported by a solid 0.5 percent rise in incomes, the best showing in this area in four months. The gain in spending was in line with expectations. In another strong report, the Commerce Department said that orders to factories jumped by 3.7 percent in July.

GENEVA

WTO investigating illegal subsidies

The World Trade Organization opened a formal investigation Friday into allegations by the United States and Mexico that China is providing illegal subsidies for a range of industries, officials said. The countries accuse Beijing of using WTO-prohibited tax breaks to encourage Chinese companies to boost exports, while imposing tax and tariff penalties to limit purchases of foreign products in China.

RALEIGH, N.C.

Progress fined over test cheating

Nuclear regulators this week fined Progress Energy Inc. $65,000 for a 2005 incident in which contract security officers cheated on qualification tests with the help of their supervisors at the Shearon Harris nuclear power plant near Raleigh, N.C. Progress said it will not contest the penalty. The company said the individuals involved were fired.

NEW YORK

Apple fires back at NBC Universal

Apple Inc. escalated a dispute with NBC Universal over the pricing of television shows by announcing Friday it would not sell any of NBC's programs for this fall season on iTunes. Earlier, NBC had told Apple that it would no longer allow its programs to be sold via iTunes at the end of the year. NBC Universal-controlled television programming accounts for an estimated 40 percent of the video downloads on iTunes.

St. PETERSBURG

Danka might be delisted by Nasdaq

The embattled Danka Business Systems suffered another blow this week, when Nasdaq warned that it might delist the company. According to federal filings made Friday, the warning was triggered because, for the past 30 business days, Danka's stock has closed below the $1-per-share minimum. The stock closed Friday at 85 cents, up 4 cents. The company has until Feb. 26, 2008, to regain compliance, which means its shares must close at the $1 minimum for at least 10 consecutive business days. The St. Petersburg company distributes photocopiers and other office equipment.

TAMPA

Veteran to lead Red Cross chapter

The Red Cross of Tampa Bay has tapped Anna Trefethen as its new chief executive, heading up operations in Hillsborough, Pinellas and Pasco Counties. Trefethen is a 17-year Red Cross veteran, most recently directing chapter operations, support and training for five Southeastern states. The organization provides disaster relief, emergency assistance and courses.

[Last modified August 31, 2007, 23:13:15]