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AP Business NewsBrief at 9:18 a.m. EDT(Associated Press Via Acquire Media NewsEdge) Economists show support for Obama job-growth planWASHINGTON (AP) _ A tentative thumbs-up. That was the assessment Thursday night from economists, who offered mainly positive reviews of President Barack Obama's $447 billion plan to stimulate job creation. Obama challenges GOP to back more payroll tax cutsWASHINGTON (AP) _ President Barack Obama is challenging congressional Republicans to back an aggressive plan to cut payroll taxes in an effort to revive the economy and entice employers to hire more workers. Obama wants to extend and expand a payroll tax cut that is scheduled to expire at the end of the year. He reminded lawmakers that if they fail to act, they will be allowing taxes to increase on nearly every worker who earns a wage, starting in January. US stock futures down after Bernanke, Obama talksU.S. stock futures are following world markets lower after closely-watched speeches by Federal Reserve Chairman Ben Bernanke and President Barack Obama. Bernanke said that weak consumer spending is hurting the economy. He offered no new details about plans to spur growth. Stocks slid after Bernanke spoke Thursday afternoon. McDonald's key revenue metric up, misses forecastOAK BROOK, Ill. (AP) _ McDonald's Corp.'s revenue at restaurants open at least 13 months climbed 3.5 percent in August, led by strength in the U.S. and Europe. But the performance missed Wall Street's expectations, and shares of the world's biggest hamburger chain fell in premarket trading on Friday. Analysts predicted a 4.9 percent increase in the figure, which is a key gauge of a restaurant operator's performance because it excludes results from restaurants recently opened or closed. Developed nations look to restore growthMARSEILLE, France (AP) _ The financial leaders of the world's most developed economies were wrangling Friday over how to revive a faltering economic recovery at a time when interest rates are already low and government debt is high. The so-called Group of Seven economies _ the U.S., Canada, Japan, the U.K., France, Italy and Germany _ are all facing a similar challenge. The recovery that began a little over a year ago is already running out of steam, but governments' ability to boost growth is hampered after the financial crisis pushed up their deficits. Court: Samsung can't sell tablet in GermanyBERLIN (AP) _ A German court rules that Samsung Electronics's Galaxy Tab cannot be sold in Germany because it violated patents of rival Apple's iPad2. A Duesseldorf state court said Friday it would not allow Samsung, based in Seoul, South Korea, to market its Galaxy Tab 10.1 in Germany because it too closely resembles the iPad2. Congress sends patent overhaul bill to presidentWASHINGTON (AP) _ Congress has given the U.S. patent system its first major overhaul since the age of the transistor radio by passing legislation designed to spur innovation and provide a sorely needed boost to the job market. Senate passage Thursday of the America Invents Act, which sends it to President Barack Obama for his signature, is the first significant change in patent law since 1952. It took years to accomplish, with the final vote coming a little more than an hour before Obama appeared before a joint session of Congress to pitch his plan for promoting jobs growth. Porsche shares tank as VW says no merger this yearFRANKFURT, Germany (AP) _ Porsche shares are down sharply after Volkswagen said a merger between the two German carmakers will not be completed by the year-end as planned. Shares in Porsche Automobil Holding SE traded down 11.3 percent Friday at (EURO)39.21. Auto group: China sales slow further in AugustSHANGHAI (AP) _ China's auto sales rose 4 percent in August as growth in the world's biggest vehicle market cooled further, an industry group reported Friday. The China Association of Automobile Manufacturers said 1.38 million vehicles were sold in August, compared with 1.32 million a year earlier. Production outstripped sales, rising 8.7 percent from a year earlier. China's inflation rate eases as economy coolsSHANGHAI (AP) _ China's inflation rate retreated from a three-year high in August as food price increases moderated, suggesting Beijing may be able to hold off on further monetary tightening as it copes with a slowing global economy. Consumer prices in the world's second-largest economy rose 6.2 percent over a year earlier, cooling from 6.5 percent in July, the National Statistics Bureau said Friday. (c) 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. |