 Starbucks fans frustrated
 Associated Press
A man carries two coffee drinks from a Starbucks in New York City Friday. With outlets closing, fans are mourning the loss of "their store."
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County jobless rate at 12-year high
One in 16 in local work force was unemployed last month
July 19 (UNION-TRIBUNE)
Unemployment in San Diego County last month jumped to its highest level in almost 12 years, fueled by year-to-year declines in construction and real estate jobs, the state reported yesterday.
One out of 16 people in the county's work force was unemployed last month, with a seasonally unadjusted unemployment rate of 5.9 percent, up from 5.5 percent in May. Since there were relatively few layoffs during the month, economists say the unemployment spike may come from new people trying to enter the work force but unable to find jobs.
CRAWFORD, Texas, 8:06 a.m. July 19 (AP)
Bush: Congress could take steps to ease gas prices: Responding to Americans' anger over gas prices and the housing bust, President Bush is stepping up pressure on Congress to open up offshore oil exploration and work to restore confidence in the housing finance industry. WASHINGTON, 7:24 a.m. July 19 (AP)
Dream of gas tax holiday faltered over job losses: The political vision of a summer gas tax holiday died a quick death in Congress, losing to a view that federal excise taxes on gasoline and diesel fuel will have to go up if they go anywhere. RICHMOND, Va., 6:45 a.m. July 19 (AP)
Tomato growers: Salmonella scare damages industry: The 6,000 acres of tomatoes grown on Virginia's sea-swept Eastern Shore were never implicated in the national salmonella outbreak – they were still on the vine weeks after people starting getting sick. LONDON, 12:22 a.m. July 19 (REUTERS)
House prices could fall for two years-Citigroup: Citigroup chief Win Bischoff has warned that house prices in Britain and the United States are likely to keep falling for two years.
July 19 (UNION-TRIBUNE)
Venture capital investments fall 28%:Venture capital firms invested almost $365.7 million in the San Diego region during the three months that ended in June – a 28 percent decline from the $509.8 million invested during the same quarter last year.
July 19 (UNION-TRIBUNE)
16% office vacancy rates seen in county:San Diego County's office market continued to soften in the second quarter, with vacancy rates reaching 16.1 percent, thanks to tepid demand and new construction adding to supply. Vacancy rates for offices have been creeping up since the end of 2005, around the same time housing prices peaked in the county, according to a research report by brokerage CB Richard Ellis.
July 19 (UNION-TRIBUNE)
Citigroup loss $2.5 billion; shares up 8%:Citigroup has become the latest big bank to quell Wall Street's worries about a financial-sector implosion, posting a $2.5 billion second-quarter loss that was smaller than expected.
July 19 (UNION-TRIBUNE)
Favrille gets delisting warning from Nasdaq: Favrille Inc. said it has received a delisting notice from the Nasdaq Stock Market because its common share price has been below the minimum $1 requirement and the company has not maintained the $5 million minimum market value.
NEW YORK, 2:30 p.m. July 18 (AP)Wall Street mixed after earnings reports: Wall Street closed out an impressive week with a mixed performance Friday after disappointing high-tech earnings punctured some of investors' enthusiasm over better-than-expected bank earnings reports. But the major indexes still ended the week with big gains, the result of rising optimism about the troubled financial sector.
12:09 p.m. July 18 (UNION-TRIBUNE)
Jobless rate here climbs to highest level in 13 years: Unemployment in San Diego County last month jumped to its highest level in 13 years, fueled by year-to-year declines in construction and real estate, according to data released Friday by the state Employment Development Department.
NEW YORK, 2:29 p.m. July 18 (AP)Oil falls again: Is the bubble bursting?: A stunning sell-off dragged oil prices to their biggest weekly drop ever and gas prices at the pump slipped by the more than they have at any point since February, giving consumers a rare breather in a year of record fuel prices. NEW YORK, 2:22 p.m. July 18 (AP)
Feds eye more charges for Bear Stearns executives: Federal prosecutors confirmed Friday that they expect to bring more criminal charges against two former Bear Stearns hedge fund managers already accused of lying to investors about the collapse of the subprime mortgage market. NEW YORK, 2:21 p.m. July 18 (AP)
Platinum falls to 5-month low on slowing economy: Platinum prices fell to a five-month low Friday as a sagging U.S. economy and a push to build smaller cars prompt automakers to buy less of the metal used in catalytic converters. SAN DIEGO, 2:05 p.m. July 18 (AP)
California unemployment rate rises to 6.9 percent: California's unemployment rate reached 6.9 percent in June, matching its highest level in nearly five years as job losses spread across the economy, state officials said Friday. NEW YORK, 2:04 p.m. July 18 (AP)
Dollar mixed after ECB forecasts lower inflation: The dollar was mixed Friday after the European Central Bank's president said inflation would edge back to around 2 percent within a year-and-a-half, and economic growth was likely to pick up. ANDOVER, Mass., 1:59 p.m. July 18 (AP)
Electronics giant Philips to move to Mass.: The Dutch company Royal Philips Electronics NV is relocating its North American headquarters to Andover, Mass. from New York City. LOUISVILLE, Ky., 1:57 p.m. July 18 (AP)
Court rejects Fruit of the Loom holder challenge: A federal appeals court has rejected an attempt to set aside a $42 million settlement between Fruit of the Loom Inc. and one of its stockholders. WASHINGTON, 1:57 p.m. July 18 (AP)
Tomato scare ending: The tomato scare may be over, but it has taken a toll – it's cost the industry an estimated $100 million and left millions of people with a new wariness about the safety of everyday foods. ROMULUS, Mich., 1:54 p.m. July 18 (AP)
Analysts: More GM factory closures likely: At a General Motors Corp. factory just west of Detroit, about 1,000 workers are still cranking out mighty but thirsty V-8 engines that go into pickup trucks and sport utility vehicles. NEW YORK, 1:45 p.m. July 18 (AP)
Bank stocks look cheap, but buyers remain cautious: Merrill Lynch & Co. Chief Executive John Thain is making a pitch to Wall Street: Buy the brokerage's shares while they're still cheap. But investors don't seem ready to listen. DENVER, 1:40 p.m. July 18 (AP)
Brazilian miner: No interest in Freeport-McMoRan: Shares of Freeport-McMoRan Copper & Gold Inc. rose nearly 4 percent Friday after a global iron ore producer said it has not been in negotiations to acquire the Arizona copper mining company. SAN FRANCISCO, 1:31 p.m. July 18 (AP)
Big shareholder backs Yahoo board over Icahn: One of Yahoo Inc.'s largest shareholders is supporting the re-election of the Internet company's incumbent board, delivering a significant blow to an attempted coup being led by activist investor Carl Icahn. LONDON, 1:26 p.m. July 18 (AP)
UK faces gov't borrowing strife: Britain's Treasury chief on Friday suggested the government may change its rules on government borrowing – a decision that would prove an embarrassment to Prime Minister Gordon Brown.
NEW YORK, 1:09 p.m. July 18 (AP)
Freddie Mac CEO gets $19.8 million in 2007: Freddie Mac Chairman and Chief Executive Richard Syron pocketed nearly $19.8 million in compensation last year, according to a Securities and Exchange Commission filing Friday, even though the mortgage company's stock lost half its value in 2007.
GENEVA, 1:03 p.m. July 18 (AP)
WTO publishes trade ruling against China: The World Trade Organization made public its first official condemnation of Chinese commercial practices on Friday, releasing a February ruling that sided with the United States, the European Union and Canada in a dispute over car parts.
SAO PAULO, Brazil, 12:59 p.m. July 18 (AP)
Brazil oil rig workers to end strike at midnight Friday: Brazilian offshore oil workers said they would end a five-day strike at midnight Friday without reaching an agreement with the state oil company, but warned they may walk out again if the Petrobras does not make a new offer.
NEW YORK, 12:58 p.m. July 18 (AP)
Tribune ends first round of bids for Cubs, Wrigley: The Chicago Cubs and their storied Wrigley Field home inched closer to finding new owners Friday.
BUENOS AIRES, Argentina, 12:51 p.m. July 18 (AP)
Argentina's president drops export tax hike in face of protests, Senate rejection: President Cristina Fernandez canceled a farm export tax hike on Friday following months of devastating protests and a stunning rejection by Argentina's Senate.
CARACAS, Venezuela, 12:47 p.m. July 18 (AP)
In Venezuela, bank credit growth slows along with economy: Growth in Venezuelan bank lending fell sharply in the first six months of 2008 as the oil-producing nation's economy slowed.
CONCORD, N.H., 12:47 p.m. July 18 (AP)
N.H. will accept free oil from Chavez after all: Two years ago, New Hampshire refused to accept heating oil from Venezuelan President Hugo Chavez, the pro-Castro U.S. critic who once called President Bush “the devil.” But with fuel prices rising, well, free oil is free oil.
BALTIMORE, 12:41 p.m. July 18 (AP)
The Sun cuts about 100 jobs, 55 in newsroom: The (Baltimore) Sun says its has eliminated about 100 jobs in its latest round of job cuts. Union leaders say the cuts included 55 newsroom jobs.
BOSTON/SAN FRANCISCO, 12:24 p.m. July 18 (REUTERS)
Legg's Miller backs Yahoo in proxy war with Icahn: Fund manager Bill Miller, one of Yahoo Inc's top shareholders, dealt a blow Friday to billionaire investor Carl Icahn's two-month campaign to replace the Internet firm's directors, throwing his support behind Yahoo's current board.
FARNBOROUGH, England, 12:20 p.m. July 18 (AP)
Raytheon in a new game for military drones: It looks like the ultimate new video game: the operator in the comfortable leather chair uses dexterous thumbs on a hand-held console to maneuver an aircraft, with its trajectory displayed on three large flat screens.
HARTFORD, Conn., 12:19 p.m. July 18 (AP)
Republic rejects Waste Management unsolicited bid: The trash talking has begun. In a stinging letter Friday, garbage hauler Republic Services Inc. rejected an unsolicited $6.19 billion cash offer from larger rival Waste Management Inc., saying the proposal “seriously undervalues” its company.
NEW YORK, 12:14 p.m. July 18 (AP)
Citigroup posts $2.5B loss, but beats expectations: Citigroup has become the latest big bank to quell Wall Street's worries about a financial sector implosion, posting a $2.5 billion second-quarter loss that was smaller than expected.
TRENTON, N.J., 12:09 p.m. July 18 (AP)
Teva to buy Barr Pharma for more than $7 billion: Teva Pharmaceutical said Friday it will buy rival generic drugmaker Barr Pharmaceuticals for nearly $7.5 billion in a move that will boost Teva's dominance as the world's biggest generic drugmaker.
LOS ANGELES, 11:49 a.m. July 18 (AP)
Web sites give voyeurs view of neighborhood safety: I have no reason to feel unsafe in my neighborhood, but I appear to be surrounded by dozens of people convicted of everything from theft and sex crimes to public drunkenness and speeding.
MILAN, Italy, 11:40 a.m. July 18 (AP)
Economies slow as inflation catches up with Europe: It took a few months. But the economic woes touched off by soaring oil prices and the subprime mortgage crisis in the United States are finally engulfing Europe.
WASHINGTON, 11:32 a.m. July 18 (AP)
Medtronic paid new CEO Bill Hawkins $7.1 million: Medtronic Inc., the world's largest medical device maker, paid new Chief Executive Bill Hawkins compensation valued at $7.1 million for fiscal 2008, according to a proxy statement filed Friday.
MILWAUKEE, 11:12 a.m. July 18 (AP)
Manpower 2Q profit tops estimate but outlook weak: Manpower Inc. reported a 33 percent drop in second-quarter profit Friday due to a hefty legal reserve, but adjusted results topped Wall street expectations.
NEW YORK, 10:55 a.m. July 18 (AP)
Freddie Mac takes step toward issuing stock: Mortgage financier Freddie Mac took a step toward issuing common and preferred stock to help bolster its balance sheet Friday when the Securities and Exchange Commission accepted its registration statement filed earlier in the day.
NEW YORK, 10:47 a.m. July 18 (REUTERS)
Citigroup $2.5 billion loss soothes investors: Citigroup Inc posted a smaller-than-expected quarterly loss, despite $11.7 billion of write-downs and credit losses tied to deteriorating capital markets and a slumping economy.
LAS VEGAS, 10:43 a.m. July 18 (AP)
Owners of Lake Las Vegas resort file bankruptcy: The owners of Lake Las Vegas, a 3,592-acre residential and resort development in southern Nevada, have filed for Chapter 11 bankruptcy protection.
MEXICO CITY, 10:23 a.m. July 18 (AP)
Televisa expects net income to recover after 2nd quarter dip: Mexican media giant Televisa on Friday brushed off a surprise 8.6 percent fall in second-quarter profits as a temporary setback due to one-time expenses.
NEW YORK, 10:10 a.m. July 18 (AP)
Mattel's 2Q profit falls sharply, but tops view: Mattel Inc. said Friday its second-quarter profit fell by nearly half as higher costs offset strong sales of toys related to summer movies like “Kung Fu Panda” and the latest Batman film and the benefit from the weaker dollar.
SAN FRANCISCO, 9:21 a.m. July 18 (AP)
Google shares fall after disappointing earnings: Google Inc. shares tumbled more than 9 percent by midday Friday after the Internet search leader's second-quarter earnings missed analysts' expectations.
July 18 (UNION-TRIBUNE)
Average apartment rent rises: The cost of renting an apartment in San Diego County rose slightly in the second quarter, according to a report released yesterday by research firm RealFacts.
From Friday's Union-Tribune
July 18 (UNION-TRIBUNE)
Statewide home prices fall: DataQuick Information Systems reported yesterday that the statewide median home price was down 31.5 percent last month from June 2007 levels to a median $328,000.
July 18 (UNION-TRIBUNE)
Microsoft 4th-quarter profit leaps 42 percent: Microsoft Corp. said yesterday that its fiscal fourth-quarter profit jumped 42 percent, helped by strong sales of its Office and Windows software, but the company offered a softer-than-expected outlook for the current quarter.
July 18 (UNION-TRIBUNE)
Disease-carrying insect poses threat to citrus: There's a threat at the border, and it's after your oranges. The insect in question is the Asian citrus psyllid, a fruit-destroying pest that was discovered last month in Tijuana, in one instance about four blocks from the border just east of the Otay Mesa Port of Entry.
July 18 (UNION-TRIBUNE)
Bank bets on bonds backed by mortgages: Imperial Capital Bancorp has made a big bet on mortgage-backed securities that it thinks will pay off despite the current banking crisis.
WARREN, Mich., 7:15 a.m. July 18 (AP)
McCain talks to auto workers hit hard by economy: Republican presidential candidate John McCain is seeking to bolster his appeal to voters on economic issues by speaking to some of those hardest hit in the recent downturn: auto workers.
STOCKHOLM, Sweden, 6:51 a.m. July 18 (AP)
Sony Ericsson to slash 2,000 jobs: Mobile phone maker Sony Ericsson says it will slash 2,000 jobs worldwide to cut costs. Sony Ericsson spokeswoman Lisa Canning in London says the job cuts will be made within the next 12 months as part of a savings package.
TOYOTA, Japan, 3:52 a.m. July 18 (AP)
Toyota works on greener paint process: Toyota's Tsutsumi plant has solar panels, grass growing on the roof and ivy crawling on walls to be as green in production as the Japanese automaker's reputation for mileage is exemplified in its Prius hybrid.
SYDNEY, Australia, 3:47 a.m. July 18 (AP)
Australia's Qantas to cut 1,500 jobs: Qantas Airways Ltd. said Friday it is slashing its work force by 1,500 people worldwide, the latest in a string of measures to try to offset skyrocketing fuel costs.
LOS ANGELES, 3:11 a.m. July 18 (AP)
California officials expand Countrywide lawsuit: State officials expanded a previously filed lawsuit against Countrywide Financial Corp., adding allegations on Thursday that the mortgage lender rewarded staff for selling risky loans.
July 17 (UNION-TRIBUNE)
S. Calif. median home price down 29% from June '07: The median home price in Southern California was down 29.3 percent from a year earlier to $355,000 last month, pushed downward by an unprecedented volume of foreclosure homes selling at a discount, DataQuick Information Systems reported yesterday.
SAN DIEGO, 5:31 p.m. July 17 (UNION-TRIBUNE)12 San Diego-area Starbucks listed for closure: Say goodbye to 10 Starbucks stores in San Diego and two in Chula Vista. On Thursday, the Seattle-based gourmet coffee retailer company named all 600 company-owned stores it plans to close in a bid to boost its business and weed out unprofitable locations.
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