US trade deficit dips

WASHINGTON: The trade deficit fell in May, reflecting a rise in US exports to the highest level in history and a temporary decline in foreign oil prices. But the improvement was likely to be short-lived, with oil prices again hovering over record levels. — AP

Apple PC sales leap up

SAN JOSE: Apple Computer Inc saw sales jump by 75 per cent in its latest quarter — and net income more than quadruple — as sizzling sales of iPod music players led the company to what CEO Steve Jobs called its best quarterly performance. — AP

Eurozone growth

FRANKFURT: The current level of eurozone interest rates is ‘appropriate’ for a pick-up in the economy, the ECB chief economist said. The ECB was currently not leaning towards either higher or lower rates. — AFP

Farm workers sue

YAKIMA: Several Yakima Valley farm workers have sued a Los Angeles-based labour contractor, contending that Global Horizons violated state and federal law when it displaced with workers from Thailand. — AP

More bankruptcies

TOKYO: Bankruptcies in Japan rose by 29.3 per cent in June from a month ago to 794 cases, thanks to a sharp rise in the constrcution and retail industries. — AP