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AP Top Business News At 1:17 p.m. EDT

Foreign financial institutions will be able to directly invest in Saudi stock market next year
RIYADH, Saudi Arabia (AP) -- The Saudi government has approved a measure that will open the region's largest stock market to direct foreign investment next year, news that sent the exchange surging Tuesday to its highest level in nearly seven years....

If other countries sneeze, will US catch a cold? An expert's case for US recession next year
NEW YORK (AP) -- Just as the U.S. economy is strengthening, other countries are threatening to drag it down....

US airlines cancel flights to Israel after rocket falls near Tel Aviv airport
Two U.S. airlines cancelled all flights to Israel until further notice, after a rocket landed near Tel Aviv's Ben Gurion Airport....

Appeals court decision threatens health law subsidies in 36 states served by federal exchange
WASHINGTON (AP) -- President Barack Obama's health care law is enmeshed in another big legal battle after two federal appeals courts issued contradictory rulings on a key financing issue within hours of each other Tuesday....

US stocks climb in midday trading as earnings reports roll in; Chipotle jumps 12 percent
NEW YORK (AP) -- Solid earnings for a range of big companies helped nudge the stock market higher on Tuesday. The restaurant chain Chipotle and the cable giant Comcast surged after reporting better results than Wall Street expected....

US home sales increase 2.6 percent in June to 5.04 million, fastest pace in 8 months
WASHINGTON (AP) -- Sales of previously owned homes rose for a third straight month in June, pushing activity to the highest level in eight months and providing evidence that housing is regaining lost momentum....

US consumer prices up 0.3 percent in June, reflecting biggest jump in gasoline in 12 months
WASHINGTON (AP) -- U.S. consumer prices rose in June at a slightly slower pace than in May with two-thirds of the June advance driven by the largest jump in gasoline prices in a year....

Obama, Biden review of federal job-training stresses data, apprenticeships, company engagement
WASHINGTON (AP) -- As the U.S. economy adds new jobs, Americans must have the skills to fill those jobs, President Barack Obama said Tuesday....

China suspect meat scandal engulfs Starbucks and Burger King, spreads to McDonald's in Japan
BEIJING (AP) -- A suspect meat scandal in China engulfed Starbucks and Burger King on Tuesday and spread to Japan where McDonald's said the Chinese supplier accused of selling expired beef and chicken had provided 20 percent of the meat for its chicken nuggets....

France sticks to warship sale to Russia despite calls for European arms embargo, sanctions
PARIS (AP) -- France says it will go ahead with the sale of a warship to Russia despite calls for an arms embargo against the country, highlighting how Europe's strong business ties are hindering its ability to punish Moscow over the crisis in Ukraine....

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Up to the Minute
If other countries sneeze, will US catch a cold? An expert's case for US recession next year

New York judge orders around-the-clock debt talks aimed at averting Argentina default

McDonald's profit slips as US sales continue to suffer

Coke sales miss Wall Street expectations as Diet Coke remains soft

US airlines cancel flights to Israel after rocket falls near Tel Aviv airport

US home sales increase 2.6 percent in June to 5.04 million, fastest pace in 8 months

Downing of Malaysian plane and ensuing geopolitical tensions see euro come off boil

US consumer prices up 0.3 percent in June, reflecting biggest jump in gasoline in 12 months

Clarification: GM-Recalls-Rental Cars story

Marlboro maker Altria's 2Q profit stays flat as higher prices offset lower cigarette shipments


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