AP Top Business News At 12:31 a.m. EDT

Banks report using govt. assistance for loans

By JIM KUHNHENN — Sun, 19 Jul 2009 04:02:04 GMT

WASHINGTON (AP) -- The internal watchdog overseeing the government's financial bailout is pressing Treasury to seek more information from banks that receive taxpayer assistance, brandishing his own bank survey as evidence that such data can be obtained....

Calif. lawmakers, Schwarzenegger to discuss budget

Sun, 19 Jul 2009 17:39:20 GMT

SACRAMENTO, Calif. (AP) -- California officials are set for talks they hope will iron out the final details to closing the state's $26.3 billion budget deficit....

Big tech earnings week will reveal economic trends

By JESSICA MINTZ — Sun, 19 Jul 2009 11:13:41 GMT

SEATTLE (AP) -- The technology sector is often talked about as if it were a unified front, an easy-to-define monolith. People say technology stocks rose or technology stocks fell. Tech helped drive a huge boom in the 1990s, and when that collapsed in 2001, tech contributed to the last recession....

Report: Porsche near deal with VW

THOMAS SEYTHAL — Sat, 18 Jul 2009 14:21:52 GMT

FRANKFURT (AP) -- The struggle over control of Porsche, the heavily leveraged maker of world-class sports cars including the 911, appears to be coming to an end, according to media reports....

California sprouts marijuana 'green rush'

By MARCUS WOHLSEN and LISA LEFF — Sun, 19 Jul 2009 18:00:16 GMT

SAN FRANCISCO (AP) -- A drug deal plays out, California-style:...

Bank profits not as impressive as they seem

By STEPHEN BERNARD and IEVA M. AUGSTUMS — Sat, 18 Jul 2009 03:15:46 GMT

NEW YORK (AP) -- The big banks are making big money again, but they won't be back to health as long as they have to deal with a recession and customers defaulting on mortgages and credit cards....

Regulators shut banks in Calif., Ga. and SD

By MARCY GORDON — Sat, 18 Jul 2009 06:37:00 GMT

WASHINGTON (AP) -- Regulators on Friday shut two banks in California and two smaller banks in Georgia and South Dakota, boosting to 57 the number of federally insured banks to fail this year....

CIT shares jump as lender seeks rescue financing

By STEVENSON JACOBS and DANIEL WAGNER — Fri, 17 Jul 2009 22:48:34 GMT

NEW YORK (AP) -- CIT Group Inc.'s shares nearly doubled Friday as the commercial lender held talks with several large banks about securing emergency financing in hopes of avoiding a bankruptcy filing....

Jobless rate tops 10 percent in 15 states, DC

By JEANNINE AVERSA — Fri, 17 Jul 2009 23:59:04 GMT

WASHINGTON (AP) -- Fifteen states have crossed a painful threshold: 10 percent unemployment. More states, and the nation, likely will follow, one of the biggest dangers to an economic recovery....

June housing construction rises more than expected

By ALAN ZIBEL — Fri, 17 Jul 2009 17:39:29 GMT

WASHINGTON (AP) -- Construction of new U.S. homes rose in June to the highest level in seven months as builders rushed to pour foundations for homes that must be completed by the end of November for first-time buyers to take advantage of a special tax break....