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AP Business NewsBrief at 2:21 a.m. EDT(Associated Press Via Acquire Media NewsEdge) ICANN approves expansion of Internet domain namesSINGAPORE (AP) _ Hundreds of new website suffixes should begin appearing by late next year after the organization that oversees the Internet address system voted Monday to greatly expand domain names. The new domains could be categorized by subjects including industry, geography and ethnicity and include Arabic, Chinese and other scripts, the Internet Corporation for Assigned Names and Numbers said at a meeting in Singapore. Asia stock markets down amid Greek bailout impasseBANGKOK (AP) _ Asian stocks were mostly lower after European finance ministers delayed a decision to extend emergency help to prevent Greece from defaulting on its debts. Oil slipped below $92 a barrel while the dollar rose against the euro and the yen. Japanese exports drop 10.3 percent in MayTOKYO (AP) _ Japan's exports dropped for the third straight month in May, hit by massive production losses in the auto sector following the March 11 earthquake and tsunami disasters, the government said Monday. Exports fell 10.3 percent year-on-year to 4.76 trillion yen ($6 billion). Imports rose 12.3 percent to 5.61 trillion yen, resulting in a trade deficit of 853.7 billion yen _ Japan's second-biggest after a 967.9 billion yen deficit in January 2009, the finance ministry said. EU sees South Korea trade deal as model for AsiaSEOUL, South Korea (AP) _ The European Union wants its ambitious free trade agreement with South Korea to serve as the model for other deals it is pursuing in Asia, a trade official said Monday. The EU and South Korea will see their tariff-slashing pact go into effect July 1 in the culmination of a process that began in May 2007 when the two sides launched negotiations. The agreement is the EU's first in Asia. Eurozone delays decision on vital Greek loansLUXEMBOURG (AP) _ Hours of talks between eurozone finance ministers on the imploding finances of Greece broke up early Monday morning without the ministers signing off on a vital installment of rescue loans needed to avoid bankruptcy next month. Greece will get the next (EURO)12 billion of its existing (EURO)110 billion bailout package in early July, but only if it manages to pass (EURO)28 billion in new spending cuts and economic reforms by the end of the month, said Jean-Claude Juncker, the prime minister of Luxembourg who also chairs the regular meetings of the 17 eurozone finance ministers. Oil falls to below $93 amid stronger US dollarSINGAPORE (AP) _ Oil prices fell below $93 a barrel Monday in Asia as Greece's deepening financial crisis undermined confidence in the euro. Benchmark oil for July delivery was down 40 cents to $92.61 a barrel at midday Singapore time in electronic trading on the New York Mercantile Exchange. The contract lost $1.94, or 2 percent, to settle at $93.01 on Friday. United and US Airways resolve computer outagesWASHINGTON (AP) _ United Airlines and US Airways said Sunday they were resuming normal operations after computer outages that had delayed flights over the weekend. Charles Hobart, a spokesman for Chicago-based United, said that hackers were not involved in a five-hour computer outage that virtually shut down United Airlines Friday night and early Saturday. United Air is part of United Continental Holdings Inc. Paris Air Show spotlights fuel cost fearsPARIS (AP) _ Airlines will be seeking a cleaner, cheaper way to fly and planemakers will be angling for billions in new contracts Monday at the Paris Air Show, which stars a solar plane, biofuel jet engines and the Boeing-Airbus rivalry. The search for more environmentally friendly aircraft is shaping up as one of the major themes of this year's Paris Air Show, the world's largest and oldest aviation showcase. Questions and answers about Greek debtIs Greece on a path to stability or just delaying an inevitable disaster? The answer won't come for weeks or months, but financial analysts are not optimstic. States look to Internet taxes to close budget gapsAUSTIN, Texas (AP) _ State governments across the country are laying off teachers, closing public libraries and parks, and reducing health care services, but there is one place they could get $23 billion a year if they could only agree how to do it: Internet retailers such as Amazon.com. That's enough to pay for the salaries of more than 46,000 teachers, according to the U.S. Bureau of Labor Statistics. In California, the amount of uncollected taxes from Amazon sales alone is roughly the same amount cut from child welfare services in the current state budget. (c) 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. |