Business Today: GM's profit falls on recall costs, victims' compensation fund

		Click to View in Browser 07/24/2014 GM's profit falls on recall costs, victims' compensation fund DETROIT (Reuters) - General Motors Co reported a much lower second-quarter profit on Thursday due to numerous recalls and the expected cost of at least $400 million for a compensation fund for those killed or injured by a defective ignition switch linked to at least 13 deaths. Jobless claims fall to lowest level since early 2006 WASHINGTON (Reuters) - The number of Americans filing new claims for unemployment benefits fell to the lowest level in nearly 8-1/2 years last week, suggesting the labor market recovery was gaining traction. Wal-Mart says Asia chief Greg Foran to now head U.S. business (Reuters) - Wal-Mart Stores Inc said Greg Foran, the head of its Asia business, would now lead its struggling U.S. business. Ford profit beats expectations, sets record for North America DEARBORN Mich. (Reuters) - Ford Motor Co's operating earnings for the second quarter beat Wall Street expectations as better-than-expected profit in North America and Europe countered weaker results in Asia Pacific and South America. In China, Apple's focus pays off while Samsung feels squeeze BEIJING (Reuters) - The mobile industry has long held that Samsung's broad range of mobile devices makes it nimble in changing markets, while Apple loses out by rigidly sticking to its high-end gadgets. Earnings, overseas data lift stock futures NEW YORK (Reuters) - U.S. stock index futures rose on Thursday, following a record close on the S&P 500 index, lifted by strong data overseas and better than forecast results from Facebook. 3M profit rises 6 percent, sales up across businesses (Reuters) - 3M Co posted a 6 percent rise in quarterly profit on Thursday, helped by broad sales growth across the U.S. manufacturer's range of businesses. China probes food businesses; Hong Kong bans imports in meat safety scare SHANGHAI (Reuters) - China's food regulator has visited close to 600 restaurants, businesses and food distributors as it investigates a fast-spreading food safety scare that has dragged in a number of global brands and hit food outlets as far away as Japan. American Airlines declares first dividend since 1980 as profit rises (Reuters) - American Airlines Group Inc said on Thursday it will pay its first dividend since 1980 and buy back stock as it reported higher second-quarter earnings. Caterpillar posts higher second-quarter profit; sales fall (Reuters) - Caterpillar Inc reported higher-than-expected second-quarter earnings on Thursday but said sales fell as a continued slump in the global mining industry offset a rebound in the North American building sector. Related Video Sports Spread: Football famine, F1 feast don't publish - pls wait for next one Economic News Jobless claims fall to lowest level since early 2006 Global economy starts second half on solid footing: PMIs A daily digest of breaking business news, coverage of the US economy, major corporate news and the financial markets. Register Today   The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day. Register Today   » MORE NEWSLETTERS - 3 Times Square New York, NY 10036 USA © Copyright 2010 Thomson Reuters Ensure delivery of Reuters Newsmails, add mail@nl.reuters.com to your address book. Details Subscribe to other Reuters newsletters. Unsubscribe from this newsletter. Follow us on Twitter Friend us on Facebook Forward to a friend