Reuters - Consumer confidence improved slightly in early August thanks to a drop in gasoline prices, but worries about a recession still weighed heavily on consumers' minds, according to a survey released on Friday.

Reuters - J.C. Penney Co Inc and Abercrombie & Fitch Co reported quarterly profits that beat Wall Street expectations on Friday, but came up short in their earnings forecasts, joining other U.S. retailers who fear a deeper slowdown in consumer spending toward year's end.

Reuters - Kohl's Corp , a mid-priced apparel and home goods retailer, reported a quarterly profit on Thursday that beat Wall Street's expectations and raised its full-year forecast, saying tight expense controls would help it weather a tough U.S. economy.

AP - Rates on 30-year mortgages remained at the same level for a third week while rates on other types of home loans posted small declines.

Reuters - Best Buy Co Inc , the leading U.S. electronics chain, is expanding into Russia, having registered its Future Shop trademark to operate on the fast-growing market, two business dailies reported on Friday.

Reuters - Oil dropped by $2 to $113 a barrel on Friday to trade near the lowest since early May, pressured by faltering global demand and rising supply.

Reuters - Deutsche Telekom's (DTEGn.DE) T-Mobile USA will be the first carrier to offer a mobile phone based on Google Inc's Android software, the New York Times reported, citing people briefed on the company's plans.

Reuters - Google Inc's India subsidiary is being sued for alleged defamation in the Bombay High Court by an Indian construction equipment company, The Wall Street Journal said.

Reuters - Wal-Mart Stores Inc second-quarter profit jumped 17 percent, but the discount retailer forecast current quarter results that could miss Wall Street estimates as consumers worldwide deal with tough economic times.

Reuters - Morgan Stanley and JPMorgan Chase & Co agreed to buy back billions of dollars of illiquid auction-rate securities and pay fines to settle charges that they misled investors about the debt's risk.

Reuters - Texas oil billionaire T. Boone Pickens said on Thursday crude prices may soon fall as low as $110 a barrel amid falling gasoline demand, but should not sink below $100 because the United States depends heavily on oil imports.

Reuters - Stocks rose in thin trading on Thursday as another decline in the price of oil buoyed hopes that consumer spending will recover and financial shares bounced back from a sharp two-day sell-off.

Reuters - Consumer prices climbed at twice the rate expected in July and job prospects kept softening last week, according to Labor Department reports on Thursday that pointed to swelling economic stress.