New arsenic limit
From our wire services
The Food and Drug Administration is setting a new limit on the level of arsenic allowed in apple juice, after a year of pressure from interest groups. The FDA has monitored arsenic in apple juice for decades and has long said the levels are not dangerous to consumers, in particular small children who favor fruit juice.
Rush to Twinkies
Wal-Mart is making Twinkies available this weekend, even though Hostess says it asked retailers to wait until Monday to start selling the spongy yellow snack cakes. Wal-Mart said the cakes were available at about 1,600 stores and that about 3,000 of its 4,000 U.S. stores should have them by Sunday morning.
Move aside Dubai. China now has what is billed as the world's largest building - the mammoth New Century Global Center in Chengdu that has 19 million square feet of floor space. Once fully completed, the centerpiece of the building will be a water park with a 400-meter coast and beaches under a gigantic glass dome.
Wholesale prices rose 0.8 percent in June compared with May when prices had risen 0.5 percent, the Labor Department reported. It was the biggest gain since a 1 percent jump in September and was driven by a 7.2 percent surge in gasoline prices.
Colgate-Palmolive has announced plans to close its Morristown plant. The New York-based consumer products company says it will lay off 350 employees and move more than 200 nonmanufacturing workers to its Piscataway technology center.
US Airways shareholders overwhelmingly approved a proposed merger with American Airlines, bringing the companies closer to creating the world's biggest airline. The main hurdle now is a review by antitrust regulators at the U.S. Department of Justice.
Fire aboard 787
Shares of Boeing dropped almost 5 percent Friday after an empty 787 experienced a fire at Heathrow Airport. British police said the fire aboard an Ethiopian Airlines plane is being treated as unexplained.
The chief negotiators in U.S. trade talks with Europe were upbeat after the first round of negotiations but said they saw some difficult challenges ahead in removing regulations that hinder trans-Atlantic commerce. The negotiating teams are grappling with how to reduce a host of regulations that obstruct trade such as Europe's tight standards on some food imports including genetically modified organisms and U.S. meat that has been washed with chemicals.
Fitch Ratings has lowered France's principal credit rating by a notch, reflecting the country's elevated government debt and weak economy. The other two big rating agencies, Moody's Investors Service and Standard & Poor's, downgraded France's rating last year.
Trading rules delayed
A policy allowing a U.S. agency to regulate derivatives trading overseas to help reduce risks to the global financial system will be delayed. The Commodity Futures Trading Commission voted to phase in the new rules overseas starting in September.
Icahn vs. Dell
Billionaire investor Carl Icahn is proposing that Dell shareholders get a chance to own a bigger stake in the struggling computer maker in hopes of thwarting an attempt by the company's founder to buy it for $24.4 billion and take it private. Icahn, who owns a nearly 9 percent stake in Dell, wants shareholders to receive warrants in addition to the cash he previously recommended be given to shareholders.