Associated Press

AP Top Business News At 7:47 a.m. EDT

China detains employees of suspect meat seller
BEIJING (AP) -- Five employees of a company accused of selling expired beef and chicken to McDonald's, KFC and other restaurants in China were detained by police Wednesday after an official said illegal activity was an organized effort by the supplier....

In international flight, volatile conflicts abound
DUBAI, United Arab Emirates (AP) -- In Libya, militias armed with shoulder-launched missiles are battling for control of the country's main airport. In Africa, the entire Sahel region is awash with weapons that include portable air defense systems leftover from the ouster of Moammar Gadhafi....

PepsiCo 2Q profit drops but tops estimates
PURCHASE, N.Y. (AP) -- PepsiCo Inc. (PEP) on Wednesday reported earnings that decreased by 2 percent in its second quarter, but beat analysts' expectations....

Global stocks bolstered by US earnings, home sales
SEOUL, South Korea (AP) -- Global stocks mostly rose Wednesday, bolstered by solid U.S. earnings and home sales as tensions between Russia and the West over Ukraine eased....

SEC poised to end $1 a share for some money funds
WASHINGTON (AP) -- Regulators are expected to vote Wednesday to end a longtime staple of the investment industry - the fixed $1 share price for money-market mutual funds - at least for some money funds used by big investors....

Women business owners face gender gap, report says
NEW YORK (AP) -- Women who own small business are still far behind their male counterparts when it comes to getting loans and government contracts, a congressional report said Wednesday....

Agents get subsidized 'Obamacare' using fake IDs
WASHINGTON (AP) -- Undercover investigators using fake identities were able to secure taxpayer-subsidized health insurance under President Barack Obama's health care law....

Judges in health care rulings vote party line
WASHINGTON (AP) -- In rapid succession, six federal judges on two appeals courts weighed in on a key component of President Barack Obama's health care law. Their votes lined up precisely with the party of the president who appointed them....

Despite sanctions call, UK OKs Russia arms exports
LONDON (AP) -- Britain is still authorizing the export of arms and military equipment to Russia despite the government's call for tough sanctions over Moscow's arming of separatist rebels in Ukraine, a group of lawmakers said Wednesday....

Oil stays above $102 amid Gaza peace efforts
The price of oil inched further above $102 a barrel Wednesday amid a new push for a cease-fire between Israel and Palestine and after Europe imposed additional sanctions on Russia that fell short of a heavy hit....

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Up to the Minute
PepsiCo 2Q profit drops but tops estimates

SEC poised to end $1 a share for some money funds

Women business owners face gender gap, report says

Bank of England: rates to rise only gradually

Spanish economic growth seen gathering pace in Q2

Daimler revenue up; profit drops after 1-time gain

Ackman goes after Herbalife's nutrition clubs

Discover Financial's 2Q profit jumps 7 percent

Chrysler recalls Jeep SUVs for ignition switches

Contrarian's case: Why US could dip into recession