U.S. Manufacturing Still Weak in July
The manufacturing sector in the United States inched up from 49.7% in June to 49.8% in July, remaining below the 50%-mark, which indicates that the sector is contracting, not expanding.

 

Sony Lowers Sales Expectations for 2012-2013
Japanese electronics manufacturer Sony is expecting fewer sales on pivotal products for the fiscal year 2012/2013 after profits between April and June dropped by 77% to only $80 million.

 

Shell Scales Back Arctic Drill Plans
Petroleum company Shell cut back on the amount of offshore oil wells it intends to drill in the Arctic Ocean this year, as work on a containment barge is taking longer than previously expected.

 

FTC Proposes New Web Rules for Youth
The American Federal Trade Commission is proposing new restrictive requirements for websites whose audiences are young people, saying they want to protect children's personal information.

 

Political Commentator Gore Vidal Dies
Author, playwright, and political commentator Gore Vidal died on Tuesday of complications from pneumonia at his home in Los Angeles at the age of 86, after a prolonged sickness.