Business Highlights


Greece gets until Sunday for proposals to stave off collapse

BRUSSELS (AP) — Frustrated and angered eurozone leaders gave Greek Prime Minister Alexis Tsipras a last-minute chance on Tuesday to finally come up with a viable proposal on how to save his country from financial ruin.

Overcoming their surprise when Tsipras failed to come up with a detailed plan, the leaders reluctantly agreed to a final summit Sunday, saying that could give both sides an opportunity to stave off collapse of the struggling but defiant member nation.


The battle for control of the growing breast milk industry

TRENTON, N.J. (AP) — It could trade for 400 times more than the price of crude oil and 2,000 times more than iron ore. If sold off the shelf, it could cost more than 150 times the price of a gallon of cow’s milk and 15 times more than coffee.

Going for as much as $4 per ounce, breast milk is a hot commodity that is emerging as a surprisingly cutthroat industry, one that states are seeking to regulate amid a battle for control between non-profit and for-profit banks that supply hospital neonatal units.


Carnival aims to launch Miami to Cuba cruises in May

The world’s largest cruise company could be heading to Cuba.

Starting in May, Carnival Corp. plans to offer trips from Miami to the Caribbean island nation, the company announced Tuesday. Carnival says it would become the first American cruise company to visit Cuba since the 1960 trade embargo. The trips will be through its new brand, fathom, which focuses on trips where passengers sail to a destination in order to volunteer there.

CEO Arnold Donald called the Cuba plans “an important first step” for his company and for the cruise industry.


‘Subway guy’ Jared was key in giving chain healthy image

NEW YORK (AP) — Subway said Tuesday it mutually agreed with Jared Fogle to suspend their relationship after the home of the chain’s longtime pitchman was raided by federal and state investigators.

The separation was jarring because the 37-year-old everyman has become a familiar face around the world. To many, he’s known simply as “the Subway guy” who shed a massive amount of weight by eating the chain’s sandwiches. His story is perhaps the biggest reason for Subway’s image over the years as a healthy place to eat.


Young Indians embrace dating apps despite social taboos

NEW DELHI (AP) — Aditi Mendiratta’s biggest worry as she’s swiping left and right is hiding the smartphone notifications that read “Congratulations! You have a new match” from her parents.

Mendiratta is one of hundreds of thousands of young Indians nervously exploring online dating apps — and breaking with India’s centuries-old traditions governing marriage and social conduct. The dating app market has exploded in recent years, with more than a dozen companies operating in India and more than a million smartphone users who have downloaded at least one of them.


US job openings stay high, but actual hiring falters in May

WASHINGTON (AP) — Job openings stayed close to a 15-year high in May. It’s a sign that companies are expecting continued economic growth, but the level of advertised jobs hasn’t driven the same kind of increase in actual hiring.

The Labor Department said Tuesday that the number of open jobs rose 0.5 per cent to 5.36 million in May. April’s total was revised down to 5.33 million from 5.38 million, which had been the highest total during the 15 years that the government has tracked the data.


US trade deficit widens in May as exports struggle

WASHINGTON (AP) — The U.S. trade deficit widened slightly in May, reflecting declines in sales of American-made aircraft and machinery as exports continued to suffer from a strong dollar.

The deficit increased 2.9 per cent to $41.9 billion in May, up from an April imbalance of $40.7 billion, the Commerce Department reported Tuesday.

Imports fell 0.1 per cent to $230.5 billion. Exports slid at a faster pace of 0.8 per cent to $188.6 billion. American producers have been hurt this year by a rising value of the dollar, which makes U.S. goods less competitive in overseas markets.


Airlines boost on-time rating but storms create long delays

WASHINGTON (AP) — The latest government report shows airlines doing a little better at arriving on time.

The Transportation Department said Tuesday that 80.5 per cent of flights operated by the leading airlines were on time in May, up from 76.9 per cent in May 2014.

But the on-time rating was down slightly from April’s 81.8 per cent, and 16 flights were stuck on the tarmac longer than federal rules allow. Ten of those flights were on the same stormy day at Bush Intercontinental Airport in Houston.


PGA Grand Slam to move from Trump Course in Los Angeles

PALM BEACH GARDENS, Fla. (AP) — The PGA of America is moving its Grand Slam of Golf from Donald Trump’s golf course in Los Angeles, the first significant fallout for golf from the Republican presidential candidate’s comments on Mexican immigrants.

Trump and the PGA of America met Monday. Both groups said they mutually agreed not to hold the Grand Slam of Golf at Trump National Golf Club in Los Angeles on Oct. 19-21.


Automatically organic: Paris self-serve shops a nod to farms

PARIS (AP) — Diners in Paris are flashing back — and forward — to the era of the automat, but this time with a nod to organic farming.

A precursor to the era of fast food, automat eateries served hundreds of thousands of customers a day throughout the mid-20th century, allowing on-the-go diners to pick hot dishes from coin-operated metal lockers. Today, entrepreneurs in France and Scotland are appropriating the concept that once symbolized modernity to help customers get back to the land. Their automats offer not burgers and fries, but fresh and local produce and other ingredients.


General Mills plans major move toward cage-free eggs

MINNEAPOLIS (AP) — Food maker General Mills announced a major move toward cage-free eggs Tuesday as part of an updated animal welfare policy that now extends throughout its global supply chain.

The Golden Valley-based company committed itself to 100 per cent cage-free eggs for its U.S. operations, a move several other large companies also have taken recently. The company did not set a deadline but said it will work with its suppliers to determine a “reasonable timeline,” given the disruption that bird flu has caused to the U.S. egg supply.


Report: Toyota executive arrested in Japan to be released

TOKYO (AP) — The American Toyota executive who was arrested in Japan last month on suspicion of drug law violations is expected to be released Wednesday without being prosecuted, according to Japan’s Kyodo News service.

Kyodo did not identify the source of its information. Tokyo prosecutors declined to comment Tuesday. Toyota Motor Corp. said it had no information.

Julie Hamp, 55, who was the highest-ranking female executive at the Japanese automaker, was arrested June 18 on suspicion of bringing oxycodone, a narcotic pain killer, into Japan. The drug is tightly controlled here.


WHO says too few countries taxing tobacco products enough

MANILA, Philippines (AP) — Taxing cigarettes up to 75 per cent of their retail price is among the most effective ways to reduce tobacco use, but too few governments levy high enough taxes, according to a World Health Organization global report released Tuesday.

The WHO’s 2015 report on the global tobacco epidemic said more than half of the world’s countries — encompassing about 2.8 billion people — had implemented at least one of six sets of agreed-upon tobacco-control policies. The figure is up from 2.3 billion when the previous report was released in 2013.


Report: Troops face hassles with student loans, despite law

WASHINGTON (AP) — A government regulator says military personnel are still being hassled over their student loans despite the federal laws and programs put in place to protect them, and officials worry it could signal a broader problem in the $1.2 trillion student debt market.

In a report released Tuesday, the Consumer Financial Protection Bureau said it has received more than 1,300 complaints from military borrowers since 2012. Most of the problems stem from military personnel trying to defer loan payments or cap their interest rates while on active duty or after being disabled, as is allowed under the law. But many military personnel are getting denied or ignored by companies that handle their loans, the CFPB found.


By The Associated Press=

The Dow Jones industrial average climbed 93.33 points, or 0.5 per cent, to 17,776.91. The Standard & Poor’s 500 index rose 12.58 points, or 0.6 per cent, to 2,081.34. The Nasdaq composite inched up 5.52 points, or 0.1 per cent, to 4,997.46.

Benchmark U.S. crude fell 20 cents to close at $52.33 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, rose 31 cents to close at $56.85 in London. Wholesale gasoline rose 2.5 cents to close at $1.949 a gallon. Heating oil rose 0.2 cent to close at $1.711 a gallon. Natural gas fell 4 cents to close at $2.716 per 1,000 cubic feet.