NEW YORK (AP) — Stocks are higher in early Wall Street trading after Google, Honeywell and other big companies reported quarterly results. Honeywell International rose 2 percent after announcing that its income rose sharply in the latest quarter, beating forecasts. Google shares are up on word that the Internet giant’s revenue rose 22 percent even as advertising rates continued to drop.
WASHINGTON (AP) — A gauge designed to predict the economy’s future health has increased for the fifth month in a row. The Conference Board says its index of leading indicators rose 0.3 percent in June. That was slightly lower than forecast but the May increase was revised up to a 0.7 percent gain, a bit stronger than first estimated.
ST. AUGUSTINE BEACH, Fla. (AP) — The Obama administration has approved the use of sonic cannons to explore for oil and gas off the East Coast. The Bureau of Ocean Energy Management today formally approved guidelines for using air cannons in the Atlantic Ocean from Florida to Delaware. Energy companies could buy new oil and gas leases and begin drilling in 2018 if they find profitable reserves.
JUNEAU, Alaska (AP) — The U.S. Environmental Protection Agency is proposing restrictions that would essentially block development of a massive gold-and-copper prospect near the headwaters of a salmon fishery in Alaska. EPA previously determined large-scale mining in the Bristol Bay watershed posed significant risk to salmon. The agency is being sued by the group behind the proposed Pebble Mine and the state of Alaska for allegedly exceeding its authority.
DETROIT (AP) — Kia is recalling nearly 52,000 Soul small SUVs to fix a problem that can cause steering failure. The recall covers vehicles from the 2014 model year built from July 21, 2013, through Jan. 17, 2014. The Korean automaker says a plug that secures a pinion gear to the steering assembly can loosen and cause the gear to separate. That can cause a driver to lose steering and increase the risk of a crash.
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