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Around the business world

EU hammers Microsoft: BRUSSELS, Belgium The European Union levied a second massive fine on Microsoft and threatened greater penalties in the future unless the worlds largest software company obeys a 2004 antitrust order to share technical details of its Windows operating system with rivals.Microsofts performance is the key: SAN FRANCISCO At its core, the fine against Microsoft Corp. comes down to this simple fact: Microsofts server software works faster and more efficiently with its ubiquitous Windows desktop operating system than it does with the programs of competitors.Cable is king in phone satisfaction: NEW YORK Cable TV providers of phone service ranked highest in customer satisfaction in five of six U.S. regions, surpassing the traditional Bell companies among residential subscribers to unlimited domestic calling plans, according to a new study by J.D. Powers & Associates.Dual lens has digital camera users delighted: CHIANG RAI, Thailand Folks who take a lot of photographs are bound to occasionally find their cameras unable to capture the entire landscape or fit everyone into a close-up group shot. For that, youd need a wide-angle lens to go with your regular lens. Eastman Kodak Co. now has what is billed as the worlds first digital dual-lens camera.Idahos in the money: SUN VALLEY, Idaho This state could give Wall Street a run for its money as the nations unofficial capital of capitalism for a few days each summer when an exclusive fraternity of media and technology barons gather for an annual retreat. This years event has attracted 18 billionaires with a combined net worth of $140 billion.Gannet reports earnings slump: NEW YORK Gannett Co., the largest newspaper publisher in the country, reported an 8.3 percent decline in second-quarter earnings on softness ad sales and higher costs for newsprint and interest.MG making a comeback: OKLAHOMA CITY Nanjing Automobile Corp., Chinas oldest carmaker, plans to build an assembly plant in southern Oklahoma to help revive a historic English automotive brand the MG.Congress tightens the reins on credit rating companies: WASHINGTON The House votes on legislation tightening the governments reins on the three big Wall Street credit-rating agencies, which critics say unfairly dominate the field and hamper competition.SEC approves trading guidelines: WASHINGTON The Securities and Exchange Commission approves new guidelines for a long-running Wall Street practice in which money managers pay above-average trading commissions to brokerage firms in exchange for research and brokerage services.To Russia with love: WASHINGTON Russian President Vladimir Putin is maneuvering to take the nuclear waste the rest of the world shuns, hoping for a financial bonanza. President Bush, in a reversal of U.S. policy, is offering to help.Drug shifts risk from cancer to heart disease: NEW YORK Women with heart disease or a high risk for it would trade one set of odds for another if they took the drug raloxifene to try to prevent breast cancer, a new study suggests. The drug helped prevent cancer but raised the risk for blood clots and stroke.Oil prices push federal deficit upward: WASHINGTON A record jump in the price of imported oil pushes the trade deficit to $63.8 billion, offsetting robust overseas sales gains by American companies.Gas is approaching $3 a gallon across the nation: WASHINGTON Gasoline prices approaching $3 a gallon at the pump may curb consumer spending and economic growth, but they havent put a dent in the countrys fuel appetite.Stock prices continue to fall: NEW YORK Stocks losses steepen following a drop in oil inventories that raises concerns on Wall Street about higher oil prices and rising inflation.India stocks rise again: BANGALORE Indian stocks rise a surprising 3 percent, despite predictions of a sell-off following a series of train bombings the previous day that rocked the countrys financial capital. The bombings are unlikely to hurt Indias economy and investor confidence in a world that has learned to live with the risk of terrorism, business leaders say.EU economy weakens: BRUSSELS, Belgium Economic growth across the 12 members of the eurozone will be slightly weaker than previously forecast in the second and third quarters of this year, according to the European Commissions economic model.European Union targets cell phone providers: PARIS The European Unions head office proposes to legislate price controls on the cost of using a mobile phone abroad, saying network operators make excessive profits on roaming calls and have systematically ignored appeals to moderate their prices.China having trouble slowing economic growth: CHANGSHA, Hunan More than two months after sounding the alarm about the economy overheating, Beijing is having trouble slowing the pace from a blistering 10 percent growth rate. Chinas top planning agency expects economic growth will be reported at 10.4 percent for the first half of this year, despite government efforts to cool the expansion.New oil pipeline bypasses Middle east: ANKARA, Turkey The leaders of Turkey, Azerbaijan and Georgia gathered to formally inaugurate a multibillion dollar pipeline designed to bring the oil riches of the Caspian Sea to the West, bypassing Russia and creating a new flow of crude that did not depend on the unstable Middle East.Vail, Colorado


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