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US stocks fall on GM losses, unemployment

US stocks fall on GM losses, unemployment New York  - Stocks fell on Wall Street Friday pushed by billions in losses at largest US automaker General Motors, higher unemployment figures and rising oil prices.

GM lost 15.5 billion dollars, or 27.33 dollars per share, in the second quarter on the back of weak demand in the US car market spurred by soaring fuel prices and a weaker economy, the company said Friday from its headquarters in Detroit. The loss was worse than had been anticipated. In the same period last year, the company made a profit of 891 million dollars, or 1.56 dollars per share.

Chevron profits up 11 per cent as oil prices soared

Chevron profits up 11 per cent as oil prices soared New York  - Chevron Corp, the second-largest US oil company, said Friday profits soared to a recored in the second quarter on surging oil prices.

Net profits rose 11 per cent to 6 billion dollars, or 2.90 dollars per share, from 5.4 billion dollars, or 2.52 dollars per share, in the year-earlier period, the San Ramon, California-based energy company said. Still, earnings fell below analysts' estimates.

Revenue rose 48 per cent to 82.9 billion dollars.

UN extends peacekeeping mission to Sudan, upholds arrest warrant

New York - The UN Security Council Thursday extended the joint peacekeeping mission to Sudan for one year, while at the same time rejecting demands by Libya and South Africa to defer the arrest warrant for Sudan's President Omar al-Bashir.

Prolonged by lengthy diplomatic wrangling, the council's 15 members agreed with a large majority to merely note concerns voiced by the African Union (AU) against al-Bashir's possible prosecution.

The United States abstained from the vote in protest. US Ambassador Alejandro Wolf said voicing concerns against the arrest warrant issued by the chief prosecutor of the International Criminal Court in The Hague would send the "wrong signal" to Sudan's president.

Wall Street falls as economic growth less than expected

Wall Street falls as economic growth less than expected New York - Stocks retreated on Wall Street Thursday after US economic growth was less than analysts had predicted.

The US economy grew at 1.9 per cent in the second quarter of 2008, the government said Thursday, shaking off an ongoing credit and housing crisis that had some predicting a recession in the first half of the year.

The gross domestic product (GDP) figure was up from a revised 0.9 per cent in the first quarter, but less than the 2.3 per cent economists had predicted for the world's largest economy, according to Bloomberg financial news.

Wall Street falls as economic growth less than expected

Wall Street falls as economic growth less than expected New York  - Stocks retreated on Wall Street Thursday after US economic growth was less than analysts had predicted.

The US economy grew at 1.9 per cent in the second quarter of 2008, the government said Thursday, shaking off an ongoing credit and housing crisis that had some predicting a recession in the first half of the year.

The gross domestic product (GDP) figure was up from a revised 0.9 per cent in the first quarter, but less than the 2.3 per cent economists had predicted for the world's largest economy, according to Bloomberg financial news.

Earnings fall at Eastman Kodak

Earnings fall at Eastman KodakNew York  - The Eastman Kodak Company, manufacturer of cameras, film and other photography company, said Thursday that profits fell in the second quarter on higher materials costs.

Net profits fell 14 per cent to 459 million dollars, or 1.62 dollars per share, from 575 million dollars, or 2 dollars per share, in the year-earlier period.

Revenue rose just 1 per cent to 2.5 billion dollars, the Rochester, New York-based firm said.

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