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Business news from the AP


Vehicle fuel efficiency up in 2008 model year
The fleet of new cars and trucks sold to U.S. consumers averaged 21 miles per gallon in the 2008 model year, a modest increase over the previous year, the Environmental Protection Agency reported Friday.
Senate panel to mull Bernanke nomination on Dec. 3rd
Federal Reserve Chairman Ben Bernanke's nomination to a second term will be the subject of a Senate Banking Committee hearing next month, the panel's chairman said Friday.
With fuel demand weak, refineries shutting down
Refineries from New Mexico to New Jersey are under severe economic pressure because of falling demand for fuel, with a number of facilities shutting down in recent months.
Investors sue Fla. lawyer in fraud probe for $100M
A high-profile South Florida attorney under federal investigation for allegedly running a huge fraud scheme has been sued for $100 million by a group of investors.
Stock futures point to modestly lower opening
Stocks are set to continue their slide as the dollar is strengthening, and after a week of mixed economic reports. Futures are modestly lower.
AOL to lay off a third of staff
AOL says it plans to shed up to 2,500 jobs - or about a third of the struggling Internet company's work force -- as it prepares to separate from Time Warner.
EBay completes sale of Skype for $2 billion
EBay has completed its sale of Skype for about $2 billion to an investor group that included the founders of the Internet phone service.
Dell profit falls amid PC slump
Dell Inc. says its latest quarterly profit dropped 54 percent as the company battles a slump has caused it to lose its ranking as the world's No. 2 personal computer maker.
U.S. newspaper ad revenue drops 28 percent
Newspaper advertising revenue in the U.S. plunged 28 percent in the third quarter to $6.4 billion.
Gap profit climbs in third quarter
Shoppers spent more money at the low-price Old Navy chain in the third quarter this year, helping Gap Inc.'s profit climb 25 percent from last year.

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