Beatrice Oconnor

Swedish network equipment vendor Ericsson (ERIC) Wednesday reported a bigger-than-expected drop in second-quarter earnings, with profits stunted by a high number of low-margin sales in Europe and slow demand in some markets, but said it expects improvement towards the end of the year.

========================================================== U.S. Housing Starts June May ! Consensus: ! Total Starts: +6.9% -4.8% ! +5.2% ! Single-Family: +4.7% +2.2%r ! Actual: ! ! +6.9% ! ========================================================== By Sarah Portlock and Alan Zibel WASHINGTON--U.S.

With the economy stuck in neutral, do what you can to keep your car running smoothly today and save money for tomorrow.

As part of the July 13 settlement -- which must still be approved by a federal court -- Visa and MasterCard and major banks agreed to drop requirements that retailers charge the same price for cash and credit purchases.

Iranian officials have offered accident insurance coverage worth a maximum of $1 billion for Iranian tankers shipping Iranian crude oil to South Korea, a Hyundai Oilbank official, who declined to be named, said Wednesday.

Groundbreaking on new U.S. homes rose by a better-than-expected 6.9% in June to its fastest rate since October 2008, but permits to build new homes fell 3.7%, missing expectations.

W.W. Grainger Inc.'s (GWW) second-quarter earnings climbed 12% on stronger U.S. and Canada sales and as the industrial-goods supplier benefited from acquisitions. For the current year, the company raised the low end of its guidance by a dime to earnings between $10.50 and $10.80 a share, while

Bank Indonesia Wednesday said it has issued new bank ownership rules, a move which may allow DBS Holdings Group Ltd. (D05.SG) to purchase a majority stake in PT Bank Danamon (BDMN.JK) in what would be the largest ever acquisition in Indonesia.

Amphenol (NYSE:APH) saw its profit fall in the most recent quarter. Earnings and Revenue The company posted revenues above analyst predictions, though the company's EPS came up short of expectations. The company reported adjusted net income of 79 cents a share versus the 84 cents a share estimate