Reuters - U.S. auto sales plunged to a 16-year-low in July, led by a 27 percent drop at General Motors Corp , as high gas prices and tight credit sent the industry into a tailspin.

Reuters - California's battered homes market may be hitting bottom, suggesting a national housing recovery may follow, veteran banking analyst Charles Peabody said on Friday, citing a rebound in home sales as renters become owners.

Reuters - British Airways's profit collapsed in the first quarter as high oil prices, an economic slowdown and weak consumer confidence combined in what the airline called the worst trading conditions it had ever experienced.

Reuters - It really is the economy, stupid! Economic models that have correctly predicted the winner of almost all post-war U.S. presidential elections say recession fears will secure a victory for Barack Obama in November.

Reuters - The U.S. unemployment rate hit its highest level in four years during July as employers cut jobs for a seventh straight month, though less severely than predicted, a Labor Department report showed on Friday.

Reuters - U.S. factory activity held up to stand unchanged in July from June, managing to defy forecasts of a contraction and showing inflation pressures moderating, according to a report released on Friday.

AP - The nation's unemployment rate climbed to a four-year high of 5.7 percent in July as employers cut 51,000 jobs, dashing the hopes of an influx of young people looking for summer work.

AP - Construction spending fell for the 11th time in the past 13 months in June as continued steep declines in housing activity offset strength in nonresidential building activity.

Reuters - U.S. auto sales tumbled in July, reflecting a deepening downturn in the industry, with tight credit and weak consumer confidence driving General Motors Corp , Ford Motor Co and Toyota Motor Corp (7203.T) to post double-digit declines.

Reuters - Stocks fell on Thursday, led by Exxon Mobil after its earnings fell short of Wall Street's expectations and as disappointing economic data revived fears of a U.S. recession.