LA Times: Business

Fewer Americans hit the road in June
WASHINGTON -- As summer vacation season kicked in, Americans got out of their cars, driving 12.2 billion fewer miles in June than the same month a year earlier.

Stocks open lower on retail sales report
NEW YORK -- Stocks traded mixed today after the government reported retail sales fell in July to their weakest levels in five months and as oil prices advanced.

Retail sales drop for first time in 5 months
WASHINGTON -- Retail sales fell in July, the weakest performance in five months, as a variety of economic woes combined to blunt the impact of billions of dollars in government stimulus payments to U.S. households.

Macy's says 2Q profit falls, cuts outlook for year
NEW YORK -- Macy's Inc.'s saw its second-quarter earnings drop slightly and warned today that full-year profits will be below Wall Street expectations as shoppers are more cautious about spending.

Comcast, MGM launch action channel
The video-on-demand cable channel, called Impact, offers action films and TV shows. The Terminator said he would be back. Now, Comcast Corp. cable TV subscribers can summon him from their sofas.

Former tennis star Tracy Austin accuses broker Gary Fournier of fraud
In a lawsuit, she says the L.A. investment broker inflated his commissions and 'churned' accounts to generate fees. He denies wrongdoing. Former tennis champion Tracy Austin on Tuesday joined an all-star cast of sports figures in accusing a prominent Los Angeles investment broker of defrauding them.

Thousands whose health policies were canceled to be offered new coverage
The state reaches agreement with Kaiser, Health Net and PacifiCare that will also provide for compensation for medical bills. Lawyers balk at the notification process. About 3,400 Californians whose health insurance was canceled by Kaiser, Health Net and PacifiCare after they got sick will soon receive notification that they may be eligible for new coverage and for compensation for medical bills they p

NBC, like Phelps, in record pursuit at Olympics
Olympic viewership is huge, with online content a team player. As recently as a week ago, a ratings gold medal for coverage of the Beijing Olympics might have looked beyond NBC's grasp.

Russia-Georgia conflict raises worries over oil and gas pipelines
Several important lines pass through Georgia, and for Europeans and others, the routes represent a crucial counterbalance to Russia's control of energy resources. Russia's invasion of neighboring Georgia has raised doubts about the security of oil and gas pipelines that cross through the former Soviet republic and the wisdom of further investment in the transport lines.

Chinese fast-food chain Panda Express thrives on orange chicken
Now celebrating its 25th year, it's one of the largest family-owned fast-food chains in the U.S. Andrew Cherng remembers pacing through his Chinese restaurant in Pasadena wondering whether any customers would show. It was a difficult time. He had borrowed from family members and the Small Business Administration to open the eatery and had debts to pay.

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