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Airline BA to cut capacity, delay new planes

British Airways PLC announced Friday it will ground aircraft, slash seat numbers and postpone taking delivery of a dozen new Airbus A380 superjumbos as it faces a recession-driven decline in passengers.

Feds seize Madoff penthouse

NEW YORK — Federal marshals took possession of disgraced financier Bernard Madoff’s $7 million Manhattan penthouse on Thursday in a move that forced his wife to move elsewhere.

Job loss and wage reduction hurt economic recovery

WASHINGTON — Employers cut a larger-than-expected 467,000 jobs in June and the unemployment rate climbed to a 26-year high of 9.5 percent. Workers also saw weekly wages fall, suggesting Americans will have little appetite to spend and the economy’s road to recovery will be bumpy.

Markets drop due to rising jobless rate

NEW YORK — Major stock indexes fell more than 2.6 percent Thursday after the government said the U.S. unemployment rate hit a 26-year high. The Dow Jones industrials closed at their lowest level in six weeks.

Chrysler may be running out of gas in dealership showrooms

DETROIT — The latest numbers on auto sales show that Chrysler needs to quickly figure out how to navigate the car market as deftly as it did bankruptcy court.

Associated Press

Malt-O-Meal recalls oatmeal made with dry milk - 07/03/2009

Malt-O-Meal Co. is voluntarily recalling oatmeal that contains instant nonfat dry milk that may be contaminated with salmonella. The instant nonfat dry milk came from Plainview Milk Products Cooperative of Minnesota which is recalling products made over the past two years due to the possible contamination. Many of Plainview's products

Colorado company offers banana coffins - 07/03/2009

Casket makers catering to natural burials have offered biodegradable coffins made of such materials as recycled newspapers or cardboard. Ecoffins USA, based in Montrose, Colo., is selling caskets made of banana sheaves. They take six months to two years to biodegrade. Marketing director Joanna Passarelli says the company so

Cummins reopening Ind. plant, while another closes - 07/03/2009

Cummins Inc. is recalling 400 laid-off workers as it resumes production at a Columbus factory, while nearly 300 people lost their jobs as an auto parts company idled a plant in nearby Shelbyville. Cummins is preparing to resume production of the Dodge Ram engine at its Columbus MidRange Engine Plant with one shift beginning July 13. T

Much-needed tax refunds delayed from Ga. to Calif. - 07/03/2009

Colin Daymude was out of work last year after his business failed and eagerly filed his taxes in mid-January, figuring he'd get his refund sooner. He was wrong. It took the 44-year-old entrepreneur more than six months to get his $1,300 check _ money that he needed to pay living expenses while he worked a few side gigs. Tax