China's growth slows to 7.6%, lowest since '09

China's growth slows to 7.6%, lowest since '09 China's economic growth slowed to a new three-year low in the latest quarter as exports and consumer spending weakened. The world's second-largest economy grew by 7.6 percent in the three months ending in June over a year earlier, down from the previous quarter's 8.1 percent, data showed Friday. That was the lowest since the first quarter of 2009 during the depths of the global financial crisis.

Digg, once worth millions, selling for $500K Digg Inc., a seven-year-old social media company that struggled to compete with Facebook and Twitter, will be acquired by Betaworks, a New York technology investment company. As a start-up, Digg raised about $40 million in venture funding from investors such as Greylock Partners and Highland Capital Partners. While Digg helped pioneer features that let Internet users share news stories with friends, the backers never saw a payoff. Betaworks is acquiring Digg's assets for $500,000, according to the Wall Street Journal.

Drop in jobless claims may be an aberration Fewer Americans than forecast filed first-time claims for unemployment insurance payments last week, reflecting the volatility of applications during the annual auto-plant retooling period. Applications for jobless benefits decreased by 26,000 in the week ended Saturday to 350,000, the fewest since March 2008, Labor Department figures showed. Economists forecast 372,000 claims, according to the median estimate in a Bloomberg News survey. Last week's distortion is likely to unwind slowly over coming weeks, a Labor Department spokesman said.

30-year mortgage rates slip to another low Mortgage rates have dropped, with 30-year loans reaching a record low for a fourth straight week, amid signs of improvement in the housing market. The average rate for a 30-year fixed mortgage fell to 3.56 percent in the week ended Thursday, the lowest in Freddie Mac records dating to 1971, from 3.62 percent. The average 15-year rate dropped to 2.86 percent, also a record, from 2.89 percent, the McLean, Va.-based mortgage-finance company said.

Ackman discloses stake in Procter & Gamble Activist investor William Ackman bought a stake in Procter & Gamble Co., increasing pressure on Chief Executive Robert McDonald, who already was under attack from investors after three forecast cuts this year. The stake is the largest initial investment in a company by Ackman's Pershing Square Capital Management, Ackman said, while declining to give a specific figure. P&G stock had dropped 8 percent this year through Wednesday.

United places big order for new Boeing jets United Continental Holdings Inc. ordered 150 single-aisle jets with a catalog value of $14.7 billion from Boeing Co. as the world's largest airline works to cut its fuel bill by replacing older, less efficient planes. United agreed to buy 100 737 Max 9 jets, making it the first North American customer for the biggest, most expensive version of Boeing's revamped narrow-body jet, as well as 50 737-900ERs. The planes will be delivered from 2013 through 2022, the airline said.