Business Highlights
WASHINGTON (AP) — The U.S. government is investigating possible collusion among major airlines to limit available seats, which keeps airfares high, according to a document obtained by The Associated Press.
The civil antitrust investigation by the Justice Department appears to focus on whether airlines illegally signaled to each other how quickly they would add new flights, routes and extra seats.
A letter received Tuesday by major U.S. carriers demands copies of all communications the airlines had with each other, Wall Street analysts and major shareholders about their plans for passenger-carrying capacity, or "the undesirability of your company or any other airline increasing capacity."
ATHENS, Greece (AP) — Eurozone finance ministers decided Wednesday to break off talks on more aid for Greece until after it holds a weekend referendum, even as the Greek government pressed ahead with plans to let the people decide whether to accept more austerity measures in exchange for a rescue deal.
BEIJING (AP) — Chinese authorities are scrambling to reassure jittery investors after stock markets have recently plunged, threatening to set back economic reform plans.
Hours after trading closed Wednesday, the country's two major stock exchanges announced they will lower security transaction fees by 30 percent effective Aug. 1, in a move seen aimed at shoring up market confidence.
The Institute for Supply Management, a trade group of purchasing managers, said Wednesday that its manufacturing index rose to 53.5 last month from 52.8 in May.
Manufacturing growth has accelerated for the past two months, evidence that U.S. factories are beginning to adapt and overcome the drags caused by a rise in the dollar's value and cheaper oil prices, two trends that date back to last fall.
WASHINGTON (AP) — U.S. construction spending posted a solid gain in May, pushing total activity to the highest point since the fall of 2008, with