UNITED STATES

Textron's Cessna to cut 1,300 jobs

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Textron Inc's Cessna unit said it would cut another 1,300 jobs, underscoring the face of deteriorating demand for corporate aircraft and leaving the company with about half of its workforce remaining.
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U.S., Japan agree tighter North Korea sanctions

The United States and Japan have agreed to tighten sanctions against North Korea, a senior Japanese official said after a meeting between finance ministers from the two countries on Friday.
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With digital transition, more focus on smaller TVs

The Friday deadline for a nationwide transition from analog to crisper digital television transmission has U.S. retailers hoping for a boost in sales of smaller TVs as consumers upgrade secondary sets in spare rooms.
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U.S. drug czar calls for end to war on drugs

The Obama administration's top drug cop plans to spend more money on treating addiction and scale down the war on drugs rhetoric as part of an overhaul of U.S. counternarcotics strategy.
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Both sides claim victory in Iran election

State media declared President Mahmoud Ahmadinejad the winner of Iran's election on Friday, but challenger Mirhossein Mousavi alleged irregularities and claimed victory for himself.
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U.S. imports dispute over China tires gets important ruling next week

The U.S. government’s agency for international trade will determine by June 18 if certain tire imports from China cause or are threatening to cause market disruption to domestic tire makers and will transmit its findings to President Obama and the U.S. trade representative the next day.
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U.S. bill regulating tobacco heads to Obama

U.S. lawmakers took the final steps on Friday to pass sweeping legislation giving the U.S. Food and Drug Administration broad authority over cigarettes and other tobacco products, sending the bill to the president to be signed into law.
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El-Erian: Fed to engage again in Treasury buys

The rapid rise in bond yields will force the Federal Reserve to engage again in the purchases of U.S. Treasuries and mortgage-backed securities, Mohamed El-Erian, the chief executive of bond giant Pacific Investment Management Co., said Friday.
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Airline capacity cuts may lead to higher fares

Plans by major U.S. airlines to slash the number of seats they sell may bolster fares this fall, further stabilizing prices that tumbled this year as economic weakness drained travel demand.
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Obama 'excited' by Iran's robust election debate

President Barack Obama said on Friday he was hopeful the robust debate taking place in Iran's presidential election would advance his administration's efforts to engage longtime U.S. rival Tehran in new ways.
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Oil slips toward $72 as dollar gains

Oil eased toward $72 a barrel on Friday, a day after reaching a near eight-month high, pressured by a firmer dollar and views that prices have risen too far despite improving economic sentiment.
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GM signs up over 95 percent of eligible dealers

More than 95 percent of eligible dealers at bankrupt General Motors Corp have signed on or verbally agreed to participate in the new company, Chief Executive Fritz Henderson said on Friday.
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U.S. consumer mood improves, but price worries emerge

U.S. consumer confidence rose to a nine-month high in June, a survey showed on Friday, but inflation gauges showed worrisome signs of price increases that could slow any recovery from the longest recession since the Great Depression.

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