*OPEC keeps production target unchanged. *Iraq, Iran and Libya plan to raise output. SINGAPORE, Dec 5- Brent crude edged lower towards $111 a barrel on Thursday, after OPEC agreed to renew a collective oil production cap and some members talked about raising output next year.» Read More
Aug 2- Warren Buffett's Berkshire Hathaway Inc on Friday said second-quarter profit rose 46 percent, reflecting improvement in such businesses as car insurance, energy and railroads, and gains from investments and derivatives. Net income rose to $4.54 billion, or $2,763 per Class A share, from $3.11 billion, or $1,882 per share, a year earlier.
*Navy would receive $400 million in equipment, lawmaker says. Senator Susan Collins told the Senate Appropriations Committee the government reached a deal this week to end its battle with Boeing Co- which now owns McDonnell Douglas- and General Dynamics Corp..
"The increase for the three-month period resulted primarily from an increase in net interest income of $35 million and to decreases in the provision for loan losses of $16 million," the Federal Farm Credit Banks Funding Corp, which funds the Farm Credit System's securities, said in a statement.
WASHINGTON, Aug 2- U.S. military shipbuilder General Dynamics Corp has won a contract valued at $212 million to design and construct a new steel deckhouse for the third Zumwalt-class destroyer it is building in Bath, Maine, the Pentagon announced on Friday.
Aug 2- The U.S. Department of Justice is taking its third shot at nixing a proposed $19.9 million severance package for American Airlines Chief Executive Tom Horton, who will step down after American's bankrupt parent, AMR Corp, merges with US Airways. In court papers filed on Friday in U.S. Bankruptcy Court in Manhattan, the U.S.
WASHINGTON, Aug 2- A group of Republican lawmakers called on Friday for a criminal investigation of Jon Corzine, the head of failed futures broker MF Global, saying he may have committed perjury when speaking before Congress in 2011..
But cuts in outlooks from a number of bellwethers, including Intel and Caterpillar, mainly due to increasing concerns over China's growth, have raised fears about the third and fourth quarters.
WELLINGTON, Aug 3- New Zealand's Fonterra, the world's largest dairy exporter, on Saturday said it had found that an ingredient in some of its dairy products contains a strain of the Clostridium, a bacteria which can cause botulism, which may result in a recall.
ANCHORAGE, Aug 2- Activists hoping to overturn a sweeping tax break for Alaska oil producers have their work cut out for them, even after getting confirmation that they secured enough voter backing to put a referendum on the ballot next year.
The dollar fell against the euro and the yen on Friday as weak signals on the U.S. labor market lessened expectations that the Federal Reserve would start reducing its bond purchases in the near term.
WASHINGTON, Aug 2- The top lawmakers on the Senate energy committee asked the U.S. Department of Energy on Friday to clarify its authority to revoke permits for U.S. natural gas exports.
Aug 2- Time Warner Cable Inc began blacking out broadcast network CBS for customers in New York, Dallas and Los Angeles after fee negotiations between the two companies collapsed, Time Warner Cable said on Friday. CBS- owned cable networks, including Showtime, are also going dark, a Time Warner Cable spokeswoman said.
Aug 2- The U.S. government, which is pursuing a $5 billion lawsuit accusing Standard& Poor's of misleading investors by inflating its credit ratings, on Friday asked a federal judge move similar cases by 15 U.S. states and the District of Columbia back to state courts.
Aug 2- Time Warner Cable Inc began blacking out broadcast network CBS for customers in New York, Dallas and Los Angeles after fee negotiations between the two companies collapsed, Time Warner Cable said on Friday.
Aug 2- Warren Buffett's Berkshire Hathaway Inc on Friday said second-quarter profit rose 46 percent, reflecting gains from investments and derivatives and higher earnings from non-insurance businesses. Net income rose to $4.54 billion, or $2,763 per Class A share, from $3.11 billion, or $1,882 per share, a year earlier.
*LinkedIn, AIG shares rise after results. NEW YORK, Aug 2- The Dow industrials and S&P 500 ended at record highs for a second day on Friday, posting modest gains despite a mixed employment report that showed U.S. hiring slowed in July.
*PM Letta says Italy needs stable government. ROME, Aug 2- Italy's centre right must push through justice reform or withdraw from the coalition government, Silvio Berlusconi told his People of Freedom party on Friday after his conviction for tax fraud was upheld by the supreme court.
*Judge found Apple sought to end price competition. NEW YORK, Aug 2- Apple Inc is headed for a showdown with the U.S. government and dozens of states, which on Friday urged that tough new restrictions be imposed on the company for illegally conspiring to raise e-book prices.
WASHINGTON- Labels declaring foods to be "gluten-free" will need to meet new standards set by the U.S. Food and Drug Administration. The European Union and Canada have implemented the same gluten-free standards. The FDA believes most foods with a gluten-free label currently meet the standard, Taylor said.
*Pace of U.S. jobs growth slows but unemployment rate falls. NEW YORK, Aug 2- Slower-than-expected U.S. jobs growth pushed Treasury yields and the dollar lower while stocks turned upward in late trading on Friday as investors grew cautious on the outlook for U.S. economic growth and Federal Reserve plans for trimming stimulus.