IBT Staff Reporter

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Weak growth raises worry, debt fight poses risk

The U.S. economy came perilously close to flat-lining in the first quarter and grew at a meager 1.3 percent annual rate in the April-June period, leading economists to warn of recession if a stand-off over U.S. debt does not end quickly.

Phoenix Girl who Died Inside Locked Box Was Habitually Abused: Police

Phoenix police said Thursday they believed that a 10-year-old girl died after she was locked inside of a box as punishment for stealing a Popsicle. Four people were arrested Wednesday night on suspicion of first-degree murder after Samantha and John Allen, both 23, confessed to locking the child into a storage container, police said.

Oil majors Total and Eni hit by weak dollar, Libya

French and Italian oil majors Total SA and Eni SpA reported lower second-quarter profits on Friday, reflecting dollar weakness and production outages partly due to fighting in Libya which shut some fields.

Wall Street opens 1 percent lower on debt concerns

U.S. stocks opened 1 percent lower and were on track to post their worst weekly losses in nearly a year on Friday after data showed meager growth in the economy while a setback in Washington over a debt deal kept investors nervous.

Weak growth raises concerns on economy

The U.S. economy came perilously close to flat-lining in the first quarter and grew at a meager 1.3 percent annual rate in the April-June period as consumer spending barely rose.

Greece to get September bailout from bilateral loans

Greece will get its next 8 billion euro tranche of emergency loans from the euro zone and the International Monetary Fund in September as planned, provided it meets agreed criteria, the spokesman for the Eurogroup President said on Friday.

Japan banks, brokerages grapple with weak home market

Lacklustre lending activity in Japan's earthquake-ravaged economy and a shrinking retail investment business capped earnings of the country's top banks and brokerages in the fiscal first quarter, raising pressure on them to take more risks and find revenue sources overseas.

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