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AP Top Business News At 11:19 a.m. EDT

IMF cuts US and global growth forecasts for 2014
WASHINGTON (AP) -- The International Monetary Fund foresees the global economy expanding less than it had previously forecast, slowed by weaker growth in the United States, Russia and developing economies....

GM profit 2Q falls 85 pct. on recall costs
DETROIT (AP) -- Recall expenses chopped $1.5 billion from General Motors' bottom line in the second quarter, as it added up the costs of repairs for nearly 30 million cars and set aside funds to compensate victims of small-car crashes....

Ford 2Q net income rises 6 percent to $1.3 billion
DEARBORN, Mich. (AP) -- Ford Motor Co. beat Wall Street's expectations in the second quarter as it chalked up a record profit in North America and made money in Europe for the first time in three years....

Official: Air Algerie flight 'probably crashed'
ALGIERS, Algeria (AP) -- An Air Algerie flight carrying 116 people from Burkina Faso to Algeria's capital disappeared from radar early Thursday over northern Mali, officials said. France's foreign minister said no wreckage had been found, but that the plane "probably crashed."...

United Airlines posts 2Q profit, reversing 1Q loss
CHICAGO (AP) -- United Airlines is making money after a slow start to the year....

US new-home sales plummet in June
WASHINGTON (AP) -- Sales of new U.S. homes plunged in June, a sign that real estate continues to be a weak spot in the economy....

Average US 30-year mortgage rate at 4.13 pct.
WASHINGTON (AP) -- Average U.S. long-term mortgage rates were stable to slightly higher this week, remaining near their lows for the year....

US stocks pause as investors weigh earnings
NEW YORK (AP) -- U.S. stocks were barely higher in morning trading Thursday as investors digested second-quarter results from big companies across several industries, including Facebook, Ford and Caterpillar....

American Airlines boosts profit on higher revenue
FORT WORTH, Texas (AP) -- Profit and revenue are up at American Airlines, and the company will share some of the gains with shareholders....

US unemployment aid applications drop to 284,000
WASHINGTON (AP) -- The number of people seeking U.S. unemployment benefits fell last week to its lowest level in more than eight years....

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Up to the Minute
US new-home sales plummet in June

IMF cuts US and global growth forecasts for 2014

American Airlines boosts profit on higher revenue

GM profit 2Q falls 85 pct. on recall costs

Average US 30-year mortgage rate at 4.13 pct.

United Airlines posts 2Q profit, reversing 1Q loss

Wal-Mart names new CEO of US discount division

United 1st US airline to resume flights to Israel

Union Pacific 2Q profit chugs ahead 17 percent

US unemployment aid applications drop to 284,000


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