TOKYO - Sony slashed profit forecast ITS Annual After sinking to one billion yen to 15.5, or $ 199 million, quarterly loss Thursday, as lingering effects of the Tohoku earthquake, a strong yen and punishingly lackluster TV Wiped out dirty ITS bottom line.

The electronics and entertainment company, Which is based in Tokyo, Said in a statement it now That Expected Net Income of 60 one billion yen for the fiscal year ends That March 31, 2012, Revising a one billion yen projection 80 made it just Two months ago.

Sony cut aussi Projected sales for the year to 7.2 trillion yen from a previous forecast of 7.5 trillion yen.

The company Said That icts net loss for the April-June quarter to 5.15 cam one billion yen, Compared with a profit of one billion yen, 25.7 for the Same Quarter a Year Earlier. The loss Significantly Higher Than a WAS 2.5 billion yen loss estimate in a Bloomberg survey of Three Analysts.

Sony Said That quake and tsunami damage to factories in the Tohoku area cam about 5.3 to one billion yen for the quarter, though Some Of That Would Be cost offset by insurance. It Also Said the recovery from the March 11 quake WAS Progressing "Faster Than Anticipated."

Meanwhile, Sony has-been battling slow demand for high-end STI Bravia TVs Growing Amid Global Economic Woes and Heightened price competition.

Though Sony saw brisk sales in Japan Before the country&&9;s switch from analog Earlier this month to digital broadcasting, sales in the United States and Europe Were sluggish, the company said.

Slower personal computer and video camera sales helped to Bring Sony&&9;s sales of consumer products division one billion yen to 732.3, down 17.9 percent from the Same Period the Previous Years.

A strong yen - about 13 percent Stronger Against the dollar in the latest quarter, Compared to the previous year - further Top hurt Sony profits paperless payday loans. A strong Japanese currency Makes Sony products more expensive, and less competitive Therefor, overseas. It aussi erode the company&&9;s overseas earnings are repatriated When They.

Sony aussi suffered a series of hacker attacks on Web sites and online STI services, Including STI popular PlayStation Network, the company Which WAS Forced to shut down in April. The WAS network fully restored Earlier this month, but not Without Damaging the reputation of Sony&&9;s online business.

The company Said That user logins to the PlayStation Network in North America HAD returned "to a similar level as cyber Before the attacks."

Sony Ericsson, Sony&&9;s long-Suffering mobile phone joint venture with the Swedish telecommunications giant, posted a dismal quarter, with sales down 32.1 percent from the Same Period Last Year. Sony Blamed the poor performance to a Lack of critical components in the wake of the earthquake and a fall in Shipments of cellphones Shifted to Consumers have more advanced smartphones.

Sony&&9;s movie division Was a bright spot, with sales up 9.3 percent in the quarter from the previous year to 144.4 yen on one billion home entertainment releases of titles like "The Green Hornet."

Sales at Sony&&9;s music division Fell 0.6 percent to 109.6 one billion yen, however, despite a new release albums from Beyonce and tied to the hit American TV show "Glee."

Shares in Sony Fell 1.1 percent to 2.013 yen in Tokyo trading Before the earnings announcement. Sony shares fallen 30 percent this Have year, far underperforming Japan&&9;s benchmark Nikkei 225 Stock Average, Which Has Fallen just over 3 percent.

Sony Slashes Profit Forecast Annual After Posting Quarterly Loss

LONDON (AFP) - British energy giant BP rebounded Into the net profit in second quarter of 2011, aided by high Oil Prices, After a huge loss last year in the wake of the Gulf of Mexico oil spill disaster, it Said Tuesday.

After tax earnings hit  £ 3.43 billion ($ 5.62 billion) in The Three months to the end of June, BP Said in a results statement.

Compared with That year Enormous loss of £ 10.5 billion ($ 17.15 billion) in the second quarter of 2010, When It Was slammed by Spiralling Costs From The Devastating oil spill.

However, production Sank 10.7 percent to 3.43 million barrels of oil equivalent per day, FOLLOWING suspension of drilling in the Gulf of Mexico.

Output WAS aussi hit as the group sold of  £ 15.24 billion ($ 25 billion) of assets to help foot the bill for the disaster.

Purpose by the company WAS Lifted High Oil Prices, Which DURING soared due to the periodic reporting Growing unrest in the crude-producing Middle East and North Africa region.

Total revenues soared by 39 percent to £ 63.3 billion ($ 103.84 billion), Compared with £ 46.24 billion ($ 75.87 billion) last time around.

BP added Tuesday That It to Meet Continued clean-up Costs in the Gulf coast and now HAS Paid out  £ 4 no fax pay day loan.14 billion ($ 6.8 billion) in claims and government payouts to fund Economic and Environmental Restoration.

And the group Revealed That total now stands at cost  £ 24.8 billion ($ 40.7 billion), down from previous guidance of  £ 25.1 billion ($ 41.3 billion).

Took The group has £ 366 million ($ 600 a million) After Reaching settlements with credit MOEX USA Corporation, a U.S. Subsidiary of Japanese trading house Mitsui & Co Which HAS 10-percent stake in the project Macondo well, and contractor Weatherford.

The company WAS ravaged After last year&&9;s explosion on the rig Deepwater Horizon Which resulted in the death of 11 Workers and millions of barrels of Caused oil to spew Into the waters of the Gulf of Mexico.

The blast on April 20, 2010, sparked What Was Widely Regarded as the worst disaster in U.S. history Environmental.

Oil giant BP Rebounds Into  £ 3.43-bn net profit

SEATTLE - People Screamed and ran as shooting erupted at a crowded suburban Seattle parking lot Saturday, leaving 11 people Injured, Authorities and Witnesses said.

The gunfire broke out at a low-rider car show at The Plaza shopping center on Pacific Highway in Kent.

Kent Fire Department Lt. Pat Pawlak Said the Victims Were hospitalized. There Were No Reported fatalities.

Police Have not said what touched off the violence goal Kent Sgt. Jarod Kasner local media Told That fight has broken out just HAD Before the shooting. He Said It Might Have Been gang related and the force&&9;s gang unit Investigating WAS.

SEVERAL suspects Fled the scene in one or more vehicles, Kasner Told KOMO news.There Were no immediate reports of arrest.

Kent Police Officials Did not return calls Immediately from The Associated Press for further Top how.

Harborview Medical Center Spokeswoman Susan Gregg Said eight people - six men and Two women - Were Admitted to the hospital with non-life threatening Injuries.

"They&&9;re all in Satisfactory condition," she said. "All conscious and talking."

She said ages ranged from Wounded of the 14 to 32 same day payday loans. The Victim, She Said, Were you hit a foot, leg and chest, Among Other Places.

In addition to the eight, local new reports Said Three Others Were Hurt. The Seattle Times quoted police as Saying They Were taken to Other Hospitals.

Adriana Velazco, a manager at a Los Cabos Mexican Restaurant in the shopping center, Said she saw two people on the ground the after the shooting.She said That She Did not hear the gunshots goal WAS Told By An off-duty police officer dining at the restaurant to hide in the back of the restaurant patrons Along With.

"We saw people running all over the place," Velazco said. "People were knocking on the door of restaurant order We Were not Allowed to Open the Door."

The car show, listed as La Raza low-rider car show events were Latino website, Allowed participants to display vehicles modified to ride low to the ground.

Kent, Located about 20 miles south of Seattle, Is A mix of suburban Developments and older industrial centers.

Shooting Erupts at Seattle area car show, 11 hurt

OTTAWA (Reuters) - Canada Will boost monitoring of pollution from STI oil-rich tar sands and Hopes This Will speed up Washington&&9;s Approval of a Proposed $ 7 one billion pipeline to transport heavy Canadian crude to the U.S. Gulf Coast, Environment Minister Peter Kent said on Thursday .

Environmentalists Have long campaigned Against Developing the tar sands of northern Alberta - The World&&9;s Third Largest Oil Reserve - on the grounds That Produces development Unacceptable Amounts of Greenhouse Gases and Other toxins.

Kent Unveiled a plan to start monitoring air and water quality in northern Alberta as well as the effects of the oil sands on biodiversity. The program, to Be Funded by the Energy Industry Will INITIALLY cost around C $ 50 million ($ 53 million) a year and Should start soon, He Said.

"It Will Provide the facts and the science to Defend the product, Which Abroad Some are Threatening to boycott.There Is Already a great deal of misinformation and disinformation, "Kent Told a news conference.

Output from the tar sands IS set to double to 3 million barrels per day by 2020.

Opposition in the United States IS Mounting to TransCanada Corp. &&9;s Planned Keystone XL Pipeline, Which Would carry 700.000 barrels of tar sands crude per day from Alberta to the U.S. Gulf Coast.

The U.S. State Department Said It Expects HAS to make a decision on whether to APPROVe it by yearend.

Asked whether the new ET Thought monitoring plan Might go Some way to speeding up the U.S. Approval Process, Kent Replied: "Yes. The short answer IS yes fast cash advance loan."

He Continued: "I think That There Is A Fair Amount of informational catch-up to Be Done Both in the United States and Its Various Governmental Agencies and in Europe."

Said Kent ET is Lisa Jackson, administrator of the U.S.Environmental Protection Agency last month to "correct the misinformation Some Of That I know HAS Passed Her desk".

Critics say Canada&&9;s Conservative government - a vocal backer of the oil sands - is far too beholden to the Energy Industry. Alberta Is A Conservative stronghold of support.

Ottawa says oil from the tar sands Will help the United States cut supplies from less democratic nations.

Kent Called the tar sands oil a "great resource", Adding That the point of the monitoring plan WAS "not to Prosecute the industrie.It&&9;s to Identify Problems and to fix &&9;em. "

Said He Would Ottawa work with the government of Alberta, Which Says It Is serious about monitoring the operations of the Industry That Is Its biggest revenue generator.

Alberta Formed Its Own HAS panel to study the issue over water pollution After a study Showed That despite contentions from the industrie and government, tar sands operations Were Sending contaminants Into the northern Alberta watershed.

($ 1 = $ 0.95 Canadian)

(Additional reporting by With Jeffrey Jones in Calgary, editing by Peter Galloway)

Canada to monitor tar sands, eyes key U.S. pipeline

More people Likely Previously Occupied Homes Bought in June, although not Enough to lift a market beset by falling Prices, rising foreclosures and paltry demand.

Economists expect the June sales pace rose Nearly 2 percent from May to a seasonally Adjusted Annual Rate of 4.9 million homes, According To a survey by FactSet. The National Association of Realtors Will release the report at 10 am Eastern Wednesday.

Sales sunk in May to The Weakest point of the year and far below the THEY Remain Roughly 6 million Annual home sales are more typical of That Healthy Housing Markets.

Since the housing boom Went bust in 2006, Have fallen in dirty oven of the past five years and hit a 13-year low last year. Declining Home Prices and super-low mortgage rates Have not Been Enough to boost sales this year.

Declining Home Prices Have Kept Many People from selling houses and Taking Their new jobs in Growing Areas.THEY Have aussi made people feel less wealthy and That HAS Reduced Spending That drives the consumer about 70 percent of Economic Activity.

Purchases made by first-time Homebuyers are falling. Bigger down payments, tough lending rules, high debt and a Shortage of starter homes are desirable Keeping Many would-be buyers away. Even with Some Good Enough credit and money for a down payment are holding off Because They Are Home Prices Will worried keep falling.

First-time Homebuyers are critical to a strong and stable housing market. Normally THEY make up about half of all home sales. Now, They make up just 35 percent of sales. THEY tend to keep Their homes for years. What&&9;s more, Their Purchase of low and moderately priced homes allow sellers to move up to pricier homes paydayloans.

Wealthy buyers are still priced at Purchasing homes more than $ 1 million in the affluent Northeast and Midwest Growing.And investors are scooping up dirt-cheap homes in the battered South and West for less than $ 100,000. Investors are targeting Deeply discounted homes in hard-hit Areas, Such as Phoenix, Las Vegas and Tampa, Fla..

Foreclosures and short sales - when a lender to sell for less Chartered Than What is Owed mortgage was - annually make up increasingly large portion of all home sales. And a wave of foreclosures are Being Held Up, Either backlogged courts or by state and federal lenders Awaiting probes Into troubled foreclosure practices.

Growing Another problem: some dirty That Are Under contract Almost finished and are falling apart at the last minute. The Realtors&&9; trade group HAS Noted That year Increasing number of deals Have Been Canceled Because appraisals below cam in a Negotiated price, scuttling home loans in the process.

Re-sold homes are a bargain Compared to new homes.The median price of a new home is more Than 30 percent Higher Than the median price for a Previously Occupied home. That&&9;s Twice the normal markup.

A glut of unsold homes of millions est aussi Prices Weighing on, forcing sellers to slash Their Prices in order to grab the focus of potential buyers.

Most economists say falling home Prices Will keep, at least by 5 percent, Through the rest of the year. Many do not Anticipate forecasts a rebound in Price Until at least 2013.

Ahead of the Bell: Home sales

NEW YORK (Reuters) - Stocks Fell sharply on Monday, led lower by big banks like Citigroup (CN) and Bank of America (BAC.N), as talks on raising the U.S. debt ceiling stalled and investors fretted over fiscal Problems in Europe.

The Dow Jones industrial average (. DJI) Dropped 153.98 points, or 1.23 percent, to 12,325 guaranteed cash advance.75. The Standard & Poor&&9;s 500 Index (. SPX) Dropped 15.99 points, or 1.21 percent, to 1,300.15. The Nasdaq Composite Index (. IXIC) Dropped 37.59 points, or 1.35 percent, to 2,752.21.

Banks drag Wall Street lower

Apple won a Preliminary ruling from a federal trade panel Taiwanese handset maker That is, the HTC Corporation, HAD ITS infringed on Two of patents. HTC Which uses Google&&9;s Android operating system for smartphones icts, Said It Would Infringement Finding the fight. An ITC administrative judge made the ruling on Friday, the full commission order must now rule on whether or reverse it Will UPHOLD ITS judge&&9;s decision. The ruling, though Preliminary, Will Be Closely Dissected As It Is one of the first Between Apple and Other smartphone makers That use Android. Smartphone technology HAS spawned a wealth of patent litigation online payday advance. Apple HAS aussi filed Complaints against Samsung Electronics, Which Also uses the Android software platform. Recently Apple has Settled Case Against Nokia. Microsoft and Motorola filed Have aussi smartphone-related lawsuits Against Each Other. A final determination in the case is Due on Dec. 6.

Business Briefing | TECHNOLOGY: Apple Wins a Ruling in Patent Dispute has

PARIS (Reuters) - A French writer Who has Accused form MFI head Dominique Strauss-Kahn of Attempting to Rape Her in 2003 denied on Wednesday she HAD come Under Political pressure to go press charges.

Tristane Banon, 32, the Complaint filed last week over a year she says incident Took place When She Went to interview the French finance minister to form in a Paris apartment.

Many in France Ask Why she Waited eight years to take action Against Strauss-Kahn, Who Was the Socialist Party&&9;s Leading candidate for the 2012 presidential election Until He Was Arrested by New York police in mid-May on charges of Attempting to rape a hotel maid .

Strauss-Kahn denied the charges HAS in New York and filed a counter-complaint for defamation in France Against Banon.

The writer, in Her First TV Interview Since Taking legal action, Banon denied There Was Any Political agenda behind the move and Rejected Charges That She Was Trying to win public care for herself cheap payday advance.

"The People Who Know That I Know I am Being Manipulated Neither nor unstable, be it by the mayor of my town or by the Political Parties of the left or right," She Told France 2 television.

"If I Was doing this to win publicity, it Would Be a Costly very way of doing it," Said Banon, Who Appeared calm and unruffled by Questioning.

Banon Said at the time of the attack Alleged That legal advisors, journalists and Her mother, a local councilor Representing Strauss-Kahn&&9;s Socialist Party, Advised Against Her pressing charges.

Banon WAS Interviewed by language police on Thursday in the first step in a Preliminary Investigation of Her accusations.

(Reporting by Daniel Flynn; Editing by Jon Boyle)

French writer dened pressured Into DSK Complaint

ROME (Reuters) - Prime Minister Silvio Berlusconi on Tuesday Tried to calm Fears That Could Be swept Italy Into a full-scale Financial Crisis and the opposition to smooth the Pledged pass-through parliament of tough debt-cutting Measures.

"For us, for Italy, then this is the time Certainly not easy year," Said in a statement Berlusconi Which Followed a chaotic morning on Financial Markets in Which Italian 10-year bond yield climbed past 6 percent, Their Highest level in a decade.

Earlier, Economy Minister Giulio Tremonti left a meeting of euro zone Finance Ministers early to return to Rome to wrap up a 40 Approval of one billion euro ($ 56 billion) package of austerity Measures Expected to Be Passed in parliament in the coming days.

"The actions Under discussion in parliament Will Accelerate the reduction of the debt.Already this year, We Will Bring The primary balance surplus Into significant, "Berlusconi&&9;s statement said.

"The crisis IS pushing us to Accelerate the process of correction Extremely Rapidly, to Strengthen STI happy to fully define Further Steps to Bring Into the budget balance by 2014."

With Italy sitting on 1.6 trillion euros of outstanding government bonds, Any Increase in borrowing Costs Could Severely Disrupt efforts to cut debt mountain is equivalent to 120 percent of gross domestic product.

Earlier, the premium investors demand to hold Italian debt Rather Than benchmark German bonds widened to a record 350 basis point. Bank shares aussi Dropped Heavily Before Markets Picked up after news Tremonti WAS Returning to Rome.

"Any delivery from the government on the austerity package, any good news in That respect, IS very, very positive.So if Politicians are getting Their act together, it&&9;s absolutely Good News, "Said Royal Bank of Scotland analyst Paola Biraschi.

Italy, the euro zone&&9;s Third-Largest Economy, HAS Largely Avoided the turmoil hitting Greece, Portugal and Ireland.Targeted goal it has-been over worries about the sustainability of debt burden icts.

"SACRIFICE"

Tremonti HAS overseen a four-year, 40 billion-euro austerity package Designed to Bring Into the budget balance by 2014, Including Measures to Cut Funding to local government and Health Services, and delay retirement.

He HAS faced reluctance and outright resistance from Even Some in the government worried about the electoral impact of unrelenting austerity goal this week&&9;s crisis Appears To Have Overcome Such resistance no fax payday advances.

In a statement worded Gravely, Berlusconi, exude Normally Optimism Who and Who has boasted Hitherto government&&9;s history of success in Keeping out of the crisis, Italy Said HAD Overcome Even more difficulty in times past STI.

"We Must Be united, cohesive in our common interest, conscious efforts and sacrifices That the brief of a Will période correspond to permanent and secure gains, &&9;he said.

The austerity Measures still require Approval in parliament and government opposition goal Both Have Indicated They Want Quickly Passed the package to ReAssure Markets.

Said Senate President Renato Schifani ET Would urge the heads of the different party groups to pass the Measure in the upper house on Thursday.

Italy&&9;s main opposition group, the center-left Democratic Party, Called for the package to Be Approved by the end of the week, while the ruling center-right party PDL WAS Expected to back whatever Suggested Tremonti.

"There May Be possible, limited modifications aim We Will leave the field free for Tremonti, &&9;Anna Cinzia Bonfrisco, a senior LDP parliamentarian, Told reporters.

As the morning on the Markets panic eased, the 10-year Italian / Bund spread Dropped back to 319 points and year auction of short-term bills (BOTs) Passed Off Without Any serious problems.

The positive market reaction to news Tremonti WAS Returning from Brussels Underlined the marginal position taken in the Berlusconi HAS crisis.

Reeling from the 560 million euro ($ 801 million) holding company Fininvest penalty history WAS Ordered to pay rival Carlo De Benedetti at the weekend, Berlusconi HAD not spoken in public last week sincere.

Markets plunged on Friday After a newspaper interview in Which criticised the Berlusconi Tremonti Sometimes abrasive for not Being a "team player," a remark Which Underlined persistent tensions in the government.

(Additional reporting by Francesco Guarascio in Brussels, Ian Simpson in Milan, Giuseppe Fonte in Rome; Writing by James Mackenzie, editing by Robert Woodward)

Italy&&9;s Berlusconi tries to calm Fears over crisis

NEW ORLEANS - BP IS arguing That Victims of last year&&9;s Gulf oil spill Should Not Be Any More Paid claims for Future Losses Because The Areas Affected by the spill Have Recovered and the Economy Improving IS.

The British oil company in a box icts Makes 29-page document filed with the Gulf Coast Claims Facility, Which administers the $ 20 billion fund for Victims.

It Criticize SEVERAL aspects of the fund&&9;s Policies and claims That Has Some times it HAS Paid More than Victims IS Allowed Under the federal Oil Pollution Act.

"Multiple lines of evidence Demonstrate That, To The Extent That portions of the Gulf economy Were Impacted by the spill, recovery by the HAD Occurred end of 2010, positive economic performance and continuous That Into 2011, with 2011 Economic metrics Exceeding pre-spill performance , "the BP document said.

To back up icts argument, the document Commercial Fisheries Notes That All Have re-opened, hotel industrie strong occupancy rates Indicate statistics and news reports are reporting strong business tourism coming.

The company IS NOT arguing Against Paying out Documented claims for losses.And Those Who Feel more damages are warranted for future Losses, or Who are unsatisfied Otherwise, can reject the final offer compensation and Pursue litigation.

"Any Claimant Who is of the view That, notwithstanding the economic data, There Is too much risk of future loss to enter a final settlement Has the right to file claim and seek interim year the payment of past loss Without signing a release of liability, "the BP document said.

The fund&&9;s administrator, Kenneth Feinberg, BP&&9;s arguments Said Would Be Considered, ET purpose Declined Further how.

As for BP&&9;s claims payments GCCF Various That Exceed That Authorized by federal law, Feinberg Said the GCCF WAS Authorized to use as a guideline That law. "Many of our claims, I readily admitted, Go Beyond what&&9;s required by federal law, &&9;he said."It Was Always Understood Purpose in our original protocol Establishing the GCCF, the GCCF That Would use the federal law as a guide, that&&9;s all."

BP HAD Already Arguedas months ago That Feinberg&&9;s formula for Determining final payments includes a "future factor" that artificially inflate future expected loss. That formula Would Provide Individuals and Their Businesses Twice 2010 Documented losses. Oyster harvesters, In Some limited spaces, Would Be Offered Their oven times losses.

Icts in latest filing, BP says Feinberg Should End `automatic" future factor "payments for everyone, except in limited spaces Involving oyster harvesters.

BP Notes Recovered evidence of Fisheries and government assurances That IS safe to eat seafood as share of STI argument.New Orleans seafood processor Harlon Pearce says That Does not address the lingering effect of the spill on the seafood business.

"For Someone to say we Do not Have The Future is in damage Clearly wrong," Pearce said. While BP comments Cited Gulf Seafood Evidence That IS safe, Pearce Said the public&&9;s perception Has not Caught Up With That reality.He Estimated historical distributions are down about 25 percent and it Will take years to boost the trust of Consumers and a place in the national market.

Pearce, Who is president of the Louisiana Seafood Promotion and Marketing Board, Said the board&&9;s research Indicate it Took Three to five years for the Alaskan Seafood Market to Rebound After the Exxon Valdez spill, and Noted A Study Commissioned by the board That says 75 percent Around the country of Consumers are still Concerned about seafood safety payday loans direct lenders.

Lawyers for the state of Louisiana do not think aussi Things Have Turned around, According To a short document filed Friday in Ongoing year lawsuit over the spill.

Allan Kanner, an attorney for the state, wrote: "The state&&9;s economy Is Still battling the downturn Prolonged Brought on by the Deepwater Horizon and Resulting spill event, Including the impact of the offshore drilling moratorium Imposed in direct response to the spill.The State&&9;s income depends on a robust coastal economy, and continuous That very economy to struggle in the wake of the spill. "

Economist Loren Scott in Baton Rouge Said There Are points favoring BP&&9;s argument. He Cited dirty and "bed tax" revenue from tourist-dependent Areas of northwestern Florida, Which Were only Beginning to recover from the Great Recession When The April 20, 2010, Deepwater Horizon Explosion Killed 11 Workers and offshore Caused the spill.

And, while the Seafood Industry Can point to a drop in consumer confidence, Scott Said, BP lawyers argued Would Likely That It Was The Industry&&9;s Own Complaints of oil spill damage That Contributed to the drop.

"As it HAS from the outset, BP supports the payment of Legitimate claims, and to the Extent That a Claimant Can substantiate future loss, offer a final wraps Past and Future Loss and a release of claims are appropriée," Said Spokesman Tom Mueller in a statement."Given the strong evidence of recovery, What we are objecting to IS GCCF&&9;s practice of Losses Assuming we sure future claims, &&9;he said.

Still, the BP comments Stirred lingering animosity.

"They go back on Their word. Theys try to weasel out of everything THEY told you they&&9;d do," Orange Beach, Ala.., Mayor Tony Kennon said.

Kennon Said BP still Owes $ 2.5 million Orange Beach for lost revenues DURING 2010. While the summer season IS off to a Good Start this year, it&&9;s too soon to say whether different Sectors of the coastal economy - Including lodging, restaurants, seafood, retailers and tourist attractions - have fully Recovered Because There&&9;s no data yet to show whether visitors are Spending As Much As They DID oz.

In Mississippi, Tom Becker, head of the Charter Boat Captains Association and a fisherman in Biloxi, Said HE HAS only eight trips booked for this month, When Before the oil spill ET Would Have Expected Three Times as Many.

Said Becker Some charter boat captains are still Hoping to get money out of BP and ET Think It&&9;s premature for BP to seek to end Any payments.

He Said Potential Customers still ask if the seafood IS safe to eat.

"It Has not Recovered," Becker said. "I wish THEY Would not come out with statements like That. It&&9;s just depressing. It&&9;s like,` Here we go again. " A lot of us do not believe That this is over with. "

Ocean Springs Mayor Connie Moran Said She Was "Astounded. I was really just flabbergasted."

"While I Understand BP Is Still Committed to Paying Losses from last year and early 2011, There are Many Businesses To Be That Negatively Impacted continued by the spill, Among Them the Seafood Industry and charter fishing," Moran said.

Moran Said It Will take years to fully recover and the long-term impact on delicate ecosystems IS NOT CLEAR.

___

Associated Press writers Holbrook Mohr in Jackson, Miss., Jay Reeves in Birmingham, Ala., And Harry R.Weber in Charleston, W.Va., Contributed to this story.

APNewsBreak: BP wants to end future loss claims

Industrial metal prices are rising as a rally in global stock Markets Hope that bolsters the Economic Recovery Gaining Steam IS.

As the economy grows, demand for industrial So does metals like copper, palladium and platinum. Copper for September delivery rose 7.10 cents to Settle at $ 4,442 a pound. October platinum Gained Settle at $ 9.60 to $ 1.433 ounce and September palladium year rose $ 13.35 to $ 786.55 a year ounce.

Precious metals rallied this year as investors hedged Against Inflation and Economic Growth tepid. Industrial metals have fared well hadn&&9;t. Fell Copper steadily sincere February, sinking from $ 4.63 to $ 4.30 at the start of July.

Now, industrial metals are coming back.

Investors think auto factories Will Be Placing orders for more shares.THEY expect That Japan Will Also Need soon Amounts of raw materials large Rebuilding gains steam as the earthquake and tsunami FOLLOWING disaster in March, Said George Gero, vice president of RBC Global Futures in New York.

"All of That means clustering using more copper, zinc and lead," Gero said. "So far, the market IS Focused on the better (job) numbers ... and recovery in Japan."

Payroll processor Automatic Data Processing Said Thursday That U easy pay day loans.S. companies added 157.000 Employees in June, double the number More than economists forecast HAD. Also, the number of people Applying for Unemployment Benefits Dropped last week to the Lowest level in seven weeks.

Stock indexes Jumped on the news. The Standard & Poor&&9;s 500 index rose 1 percent to 1.353, moving Within 10 points of high STI 2011 Reached on April 29.

Gold for August delivery Gained $ 1.40 to Settle at $ 1530.60 a year ounce.September silver climbed 62 cents to Settle at $ 36,536 a year ounce.

Wheat for September delivery Gained 5.7 cents to Settle at $ 6345 a bushel, December corn rose 7 cents to $ 6,155 a bushel and November soybeans rose 19.25 cents to $ 13.3775 a bushel.

Crude oil for August delivery rose $ 2.02 to Settle at $ 98.67 per barrel on the New York Mercantile Exchange.

In Other Nymex contracts, heating oil rose 13.87 cents to Settle at $ 3,102 per gallon, gasoline rose 12.94 cents to $ 3,127 per gallon and natural gas 0.84 cents Fell to $ 4,138 per 1.000 cubic feet.

Industrial metals rise on recovery Hopes

An Increase in interest rate and a warning from China Leading credit rating agency has Portugal That May Need Another Financial Markets Financial bailout left in the United States on Wednesday seeking behavior management.

European stocks Were Already Down When The People&&9;s Bank of China Announced It Was icts raising benchmark rate for one-year loans by 0.25 per centage point to 6.56 percent to keep a lid on rising inflation Levels. The Dow Jones Industrial Average Slightly lower Opened Before turning positive, mixed with the Broad Market.

"Is not Helping China&&9;s announcement investor spirits," Said Sal Guatieri, an analyst at BMO Capital Markets. Said Mr. Guatieri investors Were Already smarting from the four-notch downgrade of Portugal&&9;s credit rating to junk status by Moody&&9;s Investors Service on Tuesday.

The agency Said Portugal Will Find It Difficult to Meet STI targets like Greece and That It May need a second bailout.

Portugal needed a $ 112 one billion bailout from ITS European partners and the International Monetary Fund Earlier this year after market Began charging it unsustainably high interest on loans as the country investors Deemed a risk.

"This Will Weaken Hopes That the Agreed Recently aid for Portugal Will put a line from under the nation&&9;s woes and worries That Could Trigger Portugal Greece Could follow down the path of default as possible," Said Jane Foley, an analyst at Rabobank International.

The combination of the rate hike China and the Portuguese felt rating downgrade already-depressed stocks lower in Europe Events and added to pessimism over Wall Street&&9;s open.

In early trading, the Dow WAS flat, at 12,570.55. The Standard & Poor&&9;s 500-stock index down 3.59 points WAS, or 0.3 percent, and the Nasdaq composite down 3 no fax pay day loan.89 points WAS, or 0.1 percent.

In Europe, the FTSE 100 index of Leading British shares down 0.6 percent at WAS while Germany&&9;s DAX 5.987 Fell 0.2 percent to 7.424. The CAC 40 in France WAS 0.5 percent lower at 3.957.

Were Portuguese stocks hit hardest by the Moody&&9;s warning, with Lisbon&&9;s stock market down 2.8 percent. Bank shares Took the brunt of the sell-off, with Banco Comercial Português losing more than 5 percent.

The euro hit hard aussi WAS, trading 0.7 percent lower on the day at $ 1.4321.

Earlier, sentiment in Asia Held Up. Japan&&9;s Nikkei 225 index rose 1.1 percent to end at 10,082.48 - above-the 10.000 mark Psychologically important for the second time this week - while South Korea&&9;s Kospi rose 0.4 percent to end at 2,171.19. Hong Kong&&9;s Hang Seng Index Fell 1 percent to close at 22,517.55.

Mainland Chinese shares mixed Were; THEY closed Before the People&&9;s Bank made icts announcement.

The Shanghai Composite Index lost 0.2 percent to finish at 2,810.48, while the Shenzhen Composite Index Gained 0.4 percent to 1,200.58.

In the Oil Market, the retreat Markets hit in stock prices. Benchmark oil for August delivery Fell 74 cents to $ 96.15 a barrel in electronic trading on the New York Mercantile Exchange.

This week&&9;s data culminate in Friday&&9;s June Unemployment data in the United States, Which Often set the market tone for a week or Two After Their release. On Thursday, the European Central Bank Expected to Raise IS ITS main interest rate by a quarter per centage point to 1.5 percent, ITS second hike since April as it tries to kidney in inflation.

European Markets Down After Downgrade Portugal

WASHINGTON - This is one anniversary FEW feel like celebrating.

Two Years After economists say ended the Great Recession, the recovery has-been The Weakest MOST lopsided and sincere Any of the 1930s.

After previous recessions, people in all Tended to Benefit Income Group. This time, ordinary Americans are Struggling with Job Insecurity, too much debt and pay Raises That Have not Kept Up With Prices at the grocery store and gas station. The economy&&9;s Meager gains are going to the wealthiest Mostly.

Workers&&9; Wages and Benefits make up 57.5 percent of the economy, an all-time low. Until the mid-2000s, that &&9;figure HAD Been Remarkably stable - about 64 percent-through boom and bust alike.

Executive pay IS included in this figure, purpose rank-and-file Workers are far more dependent on regular Wages and Benefits.A big chunk of the economy&&9;s gains to investors Has Gone in the form of Higher corporate profits.

"The spoils Have really gone to capital, to the Shareholders," says David Rosenberg, chief economist at Gluskin Sheff + Associates in Toronto.

Corporate profits are up by Almost Half Since the recession ended in June 2009. In the first Two Years After the recessions of 1991 and 2001, profits rose 11 percent and 28 percent, respectively.

And year Associated Press analysis found That the typical CEO of a major company Earned $ 9 million last year, up a fourth from 2009.

Driven by Higher profits, the Dow Jones Industrial Average staged a breathtaking HAS 90 percent rally Since bottoming at 6.547 on March 9, 2009.Those stock market gains go disproportionately to the wealthiest 10 percent of Americans Who Own More than 80 percent of outstanding stock, According To An Analysis by Edward Wolff, an economist at Bard College.

Purpose if the Great Recession IS long gone from Wall Street and corporate boardrooms, it Lingers on Main Street:

• Unemployment HAS Never Been So High - 9.1 percent - this long recession Any sincere After World War II. Sami at the point After the Three previous recessions, chômage Averaged just 6.8 percent.

• The average worker&&9;s hourly Wages, After accounting for inflation, 6.1 percent lower Were in May Than A Year Earlier. Rising gasoline and food devoured Prices Have Any Pay Raises for MOST Americans.

• The Jobs That Are Being created pay less Than The Ones That vanished in the recession.Higher-Paying Jobs in the Private Sector, The Ones That Pay Roughly $ 19 to $ 31 an Hour, made up 40 percent of the jobs lost from January 2008 to February 2010 only 27 percent goal of the jobs created sincere then.

Kathleen Terry Is One of Those Who Had to settle for less. Before the recession, she Spent 16 years working as a mortgage processor in Southern California, earning As Much as $ 6.500 in a Good month, a pace of about $ 78,000 a year.

Her goal in using WAS buried the housing crash. She found herself out of work for Two and a half years. Her Savings have dwindled, the single mother Had to move Into a motel with Her Three daughters.

Theys got by on welfare and help from Their church and friends. Terry started Taking a 90-minute bus ride to job training courses. Eventually, she found work as a secretary in the Riverside County, Calif fast payday loan no faxing.., Employment Office. She likes the job, just aim EARNS $ 27,000 a year."It&&9;s a humbling experience," she says.

Hard Times Have made Americans more dependent on Social Programs Than Ever, Which accounted for a record 18 percent of Personal Income in the last months of 2010 Three Before coming down a bit this year. Almost 45 million Americans are on food stamps, Another Record.

Ordinary Americans are Suffering Because of the way the economy ran Into trouble and how companies Responded When The Great Recession hit.

Soaring housing Prices in the mid-2000s made millions of Americans feel wealthier Than They Were. Theys Borrowed Against the inflated equity in Their homes gold traded up to bigger, more expensive houses. Their Debts as a Percentage of Their Annual after-tax Income rose to a record 135 percent in 2007.

Prices then started tumbling housing, Helping cause a Financial Crisis in the fall of 2008. That HAD A recession Begun in December 2007 Turned Into The Deepest Since the Great Depression downturn.

Economists Kenneth Rogoff of Harvard University and Carmen Reinhart of the Peterson Institute for International Economics Analyzed eight centuries of financial disasters Around the World for Their 2009 book "This Time Is Different." THEY found That Financial Crises create severe deep recessions and the stunt Recoveries That follow.

This recovery "is absolutely FOLLOWING the script," Rogoff says.

Federal Reserve numbers crunched by Haver Analytics Suggest That Americans Have A Long Way To Go Before Their Finances Will Be Strong Enough to support robust Spending: Despite cutting What They owe the Past Three Years, the average Household&&9;s Debt EQUAL 119 percent of annual after-tax Income. At the Same After the 1981-82 recession point, Debt Were at 66 percent, the after the 1990-91 recession, 85 percent, and the after the 2001 recession, 114 percent.

Because the Labor Market Remains so weak, MOST Workers can not demand bigger Raises or look for better jobs.

"In An Economic Cycle That Is turning up, That Is a Labor market healthy and vibrant, You&&9;d see a large number of people Quitting Their Jobs," says Gluskin Sheff economist Rosenberg. "They quit Because the grass is greener somewhere else."

Instead, Workers are toughing it out, thankful THEY Have jobs at all. Just 1.7 million Workers Have Their job quit EACH month this year, down from 2.8 million a month in 2007.

The toll of all this shows in consumer confidence, a measure of how good people feel about the economy. According To the Conference Board&&9;s index, it&&9;s at 58.5. Healthy is more like 90. By this point the after the Three past recessions, it Was an average of 87.

How gloomy Americans are? A USA Today / Gallup poll found eight weeks ago That 55 percent think the recession continues, Even if the experts say It&&9;s been over for Two years.That includes the 29 percent Who Even go further - They Say It Feels more like a depression.

The economic recovery turns 2: Feel better yet?

NEW YORK (AFP) - Prosecutors Have Agreed to form free IMF chief Dominique Strauss-Kahn from house arrest and return historical lease money After Admitting Major Problems with history&&9;s Credibility blame, Said was postponed Friday.

If the judge Chartered, Strauss-Kahn Would Be Freed "on His Own Recognizer," Meaning ET Could Travel Freely In The United States and Have His $ 1 million lease and $ 5 million bond Returned, Bloomberg TV Reported, Citing Two sources familiar with the case payday loans.

Strauss-Kahn WAS Later Friday due to APPEAR in court over the Sexual Assault Case Against HIM. The revelations of Major Problems with history&&9;s Credibility accuse Were Reported first in The New York Times. He Is Currently Awaiting Trial Under house arrest in a Manhattan apartment.

Strauss-Kahn Likely to Be Freed: report

NEW YORK - After rising to Become an obstacle to Economic Growth, Oil Prices Went backward in the second quarter.

The benchmark price in the U.S. Nearly 16 percent Dropped in May and June, and closed the quarter with an 11 percent decline. Having Settled at $ 95.42 per barrel Thursday on the New York Mercantile Exchange, oil is back Where It Was in late February. And at $ 3.54 per gallon, the national average for gas IS Almost seven hundred Lower Than When The quarter started.

Purpose There Were economists worried and frustrated drivers Along the Way. Oil rose 7 percent in April and peaked near $ 115 per barrel on May 2. Gas hit $ 3.98 per gallon Days Later.

High Fuel Prices Were Blamed for everything from lagging consumer confidence to lower retail sales. Consumers are still feeling the effects, but "the bubble HAS popped," analyst and trader Stephen Schork said. "(Oil prices) Were going like Gangbusters in April.Then we Gave it all back really fast. "

The turnaround cam Consumers have balked at soaring gasoline Prices and Some of the world&&9;s major oil Importers released emergency supplies. There Were Also echoes of last year&&9;s second quarter: A Financial Crisis in Europe and questions about the Global Economic Recovery Pulled Lower Prices.

Still, the 28-nation International Energy Agency, Which includes the U.S., Remained worried Enough about oil&&9;s impact on the global recovery That It Pledged last week to release 60 million barrels of crude and refined products onto the market in year effort to Prevent Another price spike.

The second-quarter decline surprised Many investors and There&&9;s little consensus on Where Prices go from here. Most Analysts do expect Price to Be Especially volatile in the second half of the year. There Were 37 days in the first six months rose gold Either Where Prices Fell by 2 percent or more.

The U.S.Department of Energy Expects oil to rise from year average of about $ 98.55 in the first half to $ 101.91 per barrel by the end of the year. Some analysts, however, expect Price to Be lower than that, maybe falling to $ 80 per barrel by New Year&&9;s Eve.

Oil Will move DEPENDING on the answers to major questions oven, experts say:

• How Much Will China consumes oil? China&&9;s oil appetite IS Expected to drive world demand for years. Purpose There are signs of a pull back. Platts, the energy information arm of McGraw-Hill, Said Earlier in June That China&&9;s Oil Consumption Grew 8 percent in May. That Was the second month of single-digit growth consommation After HAD expanded 10 percent or more in EACH of the previous six months. If China&&9;s Consumption lags Estimates, Oil Prices expect to tumble.

• Non-OPEC Countries Will release more oil? Oil plunged last week the after the release of the IEA Announced oil personal loans for people with bad credit.The group Said It Should More than make up for the loss of Libya&&9;s 1.5 million barrels of daily exports. The release only a temporary fix IS, however, and Analysts say world supplies continue to tighten Will - pushing Price High - UNLESS IEA loosen the spigot again.

• Will There Be Another Arab Spring? Have tensions died down in North Africa and the Middle East Since the spring. Any Purpose new flare-up in the region Will push oil even higher. Turmoil in Yemen, for example, HAS President Ali Abdullah Saleh left badly Injured and clinging to power. A regime change destabilization There Would a country That sits Along one of the world&&9;s vital oil shipping lanes.

• Will Greece&&9;s Financial troubles continue to hurt the European economy? Approval of Greece&&9;s financial reform this week cleared the way for more international aid. Aim the country still must PROVE it in September That HAS Implemented new austerity Measures To Be eligible for more bailout money.Failure to do so further Top destabilization Could the euro and push oil lower. Oil, Which is priced in dollars, tend to fall as the dollar Rises Versus Other major currencies.

The management of Oil Prices Also depends on growth expectations for World Economics. Economists forecast global oil demand Have at a record 89 million barrels per day this year. If the global economy slows and demand forecasts drop, Oil Prices Would keep sliding in the Third and fourth quarter.

"I&&9;m Always Concerned That Demands Will Come in Significantly Lower Than What They&&9;re expecting for the second half of the year," Said Michael Lynch, president of Strategic Energy & Economic Research. "Everyone&&9;s buying more fuel-efficient cars. Eventually that&&9;s going to make a difference."

There are random aussi events, like hurricanes in the Gulf of Mexico, Which Could Affect prices.

In Other Nymex trading Thursday, natural gas prices rose After the U.S. government Reported ThatGrew supplies less than expected last week. The Energy Information Administration Said That Storage Levels rose by 78 one billion cubic feet. The natural gas contract for August delivery Gained 5.9 cents to Settle at $ 4,374 per 1.000 cubic feet. For the quarter, natural gas prices Were little changed.

Heating oil for July delivery added 1.25 cents to Settle at $ 2.9327 per gallon and gasoline futures for July added 2.19 cents to $ 3.0316 at Settle per gallon. Both contracts expire on Thursday.

In London, Brent crude Gained 8 cents to Settle at $ 112.48 on the ICE Futures Exchange.

___

Chris Kahn Can Be Reached at twitter.com / ChrisKahnAP.

Oil drops 11 percent in 2nd quarter