PARIS (AP) — French soldiers secured a black box from the Air Algerie wreckage site in a desolate region of restive northern Mali on Friday, the French president said. Terrorism hasn't been ruled out as a cause, although officials say the most likely reason for the catastrophe that killed all onboard is bad weather.
(Reuters) - Xerox Corp reported a 2 percent fall in second-quarter revenue, hurt by lower demand in its printing business. Net income attributable to Xerox fell to $266 million, or 22 cents per share, for the quarter ended June 30, from $271 million, or 21 cents per share, a year earlier. Revenue fell to $5.29 billion from $5.39 billion a year earlier. Revenue from its printing business, which accounts for 40 percent of total revenue, fell 6 percent. (Reporting by Soham Chatterjee in Bangalore; Editing by Savio D'Souza)
The Commerce Department said on Friday durable goods orders increased 0.7 percent as demand increased from transportation to machinery and computers and electronic products. The increase in orders for these goods, which range from toasters to aircraft that are meant to last three years or more, was above economists' expectations for a 0.5 percent rise and followed a 1.0 percent drop in May. "This is consistent with broad, increasing demand throughout the economy," said Gus Faucher, senior economist at PNC Financial Services in Pittsburgh. Non-defense capital goods orders excluding aircraft, a closely watched proxy for business spending plans, rebounded 1.4 percent after declining 1.2 percent the prior month. The gain in the so-called core capital goods outpaced economists' expectations for only a 0.5 percent increase.