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AP Top Business News At 8:47 a.m. EDT

Avoiding plane crashes as air traffic doubles
NEW YORK (AP) -- More travelers are flying than ever before, creating a daunting challenge for airlines: keep passengers safe in an ever more crowded airspace....

Study: 35 percent in US facing debt collectors
WASHINGTON (AP) -- More than 35 percent of Americans have debts and unpaid bills that have been reported to collection agencies, according to a study released Tuesday by the Urban Institute....

$1,000 pill now hepatitis C treatment of choice
WASHINGTON (AP) -- A $1,000-per-pill drug that insurers are reluctant to pay for has quickly become the treatment of choice for a liver-wasting viral disease that affects more than 3 million Americans....

UPS 2Q profit drops, lowers outlook on spending
ATLANTA (AP) -- UPS lowered its outlook for the year as it announced plans to spend more on technology and other enhancements to improve service during peak season....

Pfizer's 2Q profit sinks 79 pct but tops forecasts
NEW YORK (AP) -- Pfizer's second-quarter earnings plunged 79 percent from last year, when the world's second-largest drugmaker booked a business spinoff gain of more than $10 billion. The latest results still edged analyst expectations....

US, EU preparing new sanctions against Russia
BRUSSELS (AP) -- The United States and the European Union, finally in synch on how to deal with Russian President Vladimir Putin, are preparing a powerful one-two punch against Russia's economy, with EU ambassadors meeting on Tuesday to discuss a dramatic escalation in the trade bloc's sanctions....

Waste Management selling subsidiary for $1.94B
HOUSTON (AP) -- Waste Management is selling a subsidiary to Energy Capital Partners for $1.94 billion as part of its effort to focus on its core business....

Merck 2Q profit more than doubles
A big one-time gain and a tax benefit helped drugmaker Merck & Co. more than double its second-quarter profit, raise the lower end of its profit forecast and easily top analysts' expectations....

Reynolds American 2Q profit climbs 6.7 percent
WINSTON SALEM, N.C. (AP) -- Reynolds American Inc. says that its profit rose by 6.7 percent in its second quarter, topping analysts' expectations....

Renault profits rise thanks to cost cuts
PARIS (AP) -- French carmaker Renault says its profits in the first half of the year rose, partly thanks to lower costs as its revenue dropped....

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Captains of industry: Comparing CEO pay and performance
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Up to the Minute
Pfizer's 2Q profit sinks 79 pct but tops forecasts

UPS 2Q profit drops, lowers outlook on spending

Merck 2Q profit more than doubles

Reynolds American 2Q profit climbs 6.7 percent

Waste Management selling subsidiary for $1.94B

Aetna 2Q profit rises 2.4 percent

Study: 35 percent in US facing debt collectors

Avoiding plane crashes as air traffic doubles

Honda's quarterly profit up on Asian sales growth

Darden CEO to step down amid Olive Garden troubles