Canada's GDP Grew 1.8% in Quarter

The Canadian economy grew faster than expected in the second quarter, as businesses replenished inventories and invested in plants and equipment, and consumers picked up spending.

Larsen to Join Time Inc.

Former Dow Jones President Todd Larsen is expected to be named the head of news and sports at Time Warner's magazine group, Time Inc.

Sharp's Credit Rating Cut to Junk

As cash-strapped Sharp struggles to secure bank loans and a much-needed investment from its Taiwanese business partner, Standard & Poor's Ratings Services cut the electronics maker's credit rating to junk status.

AMR, US Airways Draw Closer

American Airlines parent AMR and suitor US Airways have signed a deal that will allow the pair to share confidential information in order to evaluate a potential combination.

Lufthansa Hit by Strikes

An eight-hour strike by Lufthansa cabin crew at Frankfurt Airport has left thousands of passengers stranded and disrupted international flights to and from Europe's third-busiest airport.

Chalco Bid for SouthGobi in Peril

China has fallen silent in its pursuit of a deal that would have unlocked vast seams of Mongolian coal ahead of a deadline next week, as politics and a slowing Chinese economy likely scotched the $920 million investment.

Production of iPhone Screens Delayed

Japan's Sharp hasn't started mass producing screens for Apple's next iPhone, signaling potential supply problems for the U.S. company as it gears up to unveil its next-generation smartphone next month.

Facebook Shares Drop to New Lows

Facebook shares fell 5% to new lows Friday as two analysts from firms that underwrote its initial public offering cut their price targets on the shares.

Shell Edges Closer to Arctic Drilling

Royal Dutch Shell was cleared to do preparatory work on an oil well in the Arctic Ocean's Chukchi Sea, though it stills lacks a final U.S. permit for drilling deep enough to find oil.

Lego Sees Solid First Half Despite U.S. Concerns

Lego Chief Executive Jørgen Vig Knudstorp signaled deep concern about the U.S. toy market on Friday even after the iconic Danish toy maker reported a solid first-half performance.

Qatar to Oppose Mining Deal

Glencore's planned merger with Xstrata edged closer to collapse after Qatar Holding said it would vote against a deal at current terms.

Hon Hai's Revenue Jumps, But Net Is Flat

Hon Hai Precision said its first-half profit rose only slightly as revenue growth driven by strong demand for Apple products was largely offset by an accounting loss on its investment in Sharp.

PepsiCo Tests New Diet Pepsi Formulas

PepsiCo is considering replacing its U.S.-based Diet Pepsi formula with one similar to those used in some international markets. The goal is to have a Diet Pepsi formula that is closer to what the drink tastes like as soon as it is made.

FCC to Review Mobile-Airwaves Policy

Federal regulators are gearing up to take another look at how much of the airwaves any one company should be able to control, stepping into a heated policy debate with broad implications for the wireless industry.

BP Profit Tumbles on Write-Downs

BP posted a decline of 96% in adjusted profit for the second quarter as the U.K. oil giant wrote down the value of some $5 billion worth of assets.

Gauging the Triggers to Fed Action

The Federal Reserve's unconventional measures to boost the recovery in recent years have followed a pattern in benchmarks of the economy's health.

UBS: Facebook IPO Cost Us $350 Million

The Swiss bank said the loss on the Facebook IPO wiped out nearly half of its second-quarter profit, and it accused Nasdaq of a "gross mishandling" of the stock-market listing.

Asia Markets Mostly Down

Asian markets were mostly lower, though several came off morning lows as investors awaited central bank meetings in the U.S. and Europe; despite disappointing manufacturing data from China, the Shanghai Composite was up 0.9%.

Olympus: May Have Breached Corruption Law

Olympus said it has informed the U.S. Department of Justice of possible expense accounting irregularities in a doctor training program in Brazil that could test the rules of the Foreign Corrupt Practices Act.

Verizon Wireless to Settle FCC Complaint

Verizon Wireless agreed to pay $1.25 million to settle an FCC complaint that it inappropriately pressured Google into blocking access to some applications on Google's Android mobile store.