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GM's profit falls on recall costs, victims' compensation fund

DETROIT - General Motors Co reported a much lower second-quarter profit on Thursday due to numerous recalls and the expected cost of at least $400 million for a compensation fund for those killed or injured by a defective ignition switch linked to at least 13 deaths.

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U.S. factory activity expands in July: Markit

NEW YORK - The U.S. manufacturing sector expanded in July, though the pace of expansion eased as new orders and employment also grew at slower paces, an industry report showed on Thursday.

9:48am EDT

In China, Apple's focus pays off while Samsung feels squeeze

BEIJING - The mobile industry has long held that Samsung's broad range of mobile devices makes it nimble in changing markets, while Apple loses out by rigidly sticking to its high-end gadgets.

China, Tech, iPad, Media 7:55am EDT

China probes food businesses; Hong Kong bans imports in meat safety scare

SHANGHAI - China's food regulator has visited close to 600 restaurants, businesses and food distributors as it investigates a fast-spreading food safety scare that has dragged in a number of global brands and hit food outlets as far away as Japan.

6:42am EDT

3M profit rises 6 percent, sales up across businesses

- 3M Co posted a 6 percent rise in quarterly profit on Thursday, helped by broad sales growth across the U.S. manufacturer's range of businesses.

8:07am EDT

Caterpillar posts higher second-quarter profit; sales fall

- Caterpillar Inc reported higher-than-expected second-quarter earnings on Thursday but said sales fell as a continued slump in the global mining industry offset a rebound in the North American building sector.

9:31am EDT

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