CHARLOTTE, N.C. (AP) -- Bank of America Corp. recorded another profitable quarter Thursday, but gave investors reason to worry as it fattened its provisions for loan losses, an indication it sees lending risks growing.

Bank of America, the No. 2 U.S. bank by assets, reported a 5 percent rise in earnings from growth in capital markets activity and consumer fees, offsetting an increase in credit losses.

But its provision for credit losses ballooned 79.2 percent to $1.81 billion, up from $1.24 billion in the first quarter and $1.01 billion in the second quarter of 2006. Net charge-offs, or bad loans, rose to $1.5 billion, compared with $1.43 billion in the first quarter and $1.02 billion in the year-ago quarter.

JPMorgan, the nation's third-largest bank, on Wednesday reported a 20 percent increase in

NEW YORK (AP) -- The nation's economy could be in for a sluggish spell in coming months as a downturn in the housing industry takes a deeper toll on businesses and consumers.

The Conference Board's index of leading economic indicators, released Thursday, signaled economic weakness with a 0.3 percent decline in June, more than the 0.1 percent analysts were expecting. The index had risen 0.2 percent in May after dropping 0.2 percent in April.

The report is designed to forecast economic activity over the next three to six months.

"The leading index has slowed in recent months, suggesting a possible softening of the overall pace of economic activity later in the second half of

NEW YORK (AP) -- Wall Street retreated Wednesday but managed a late-day partial recovery as investors reacted uneasily to Federal Reserve Chairman Ben Bernanke's comments on the economy and news that two Bear Stearns Cos. hedge funds were essentially worthless.

Even without any bad news, a downturn in stocks was expected after the rally that began last week. On Tuesday, the Dow nudged past the 14,000 mark for the first time. With no major catalyst behind the advance, the record run has perhaps been puzzling to market watchers trying to determine if it has room to build or has run its course.

Investors sold off shares as Bernanke, speaking before the House Financial Services panel as part of the central bank's midyear forecast, said the economy should strengthen into 2008 and inflation risks remain the Fed's

SAN JOSE, Calif. (AP) -- Intel Corp. said Tuesday its second-quarter profit jumped 44 percent on strong sales of microprocessors even as the company faced fierce competition that pushed prices lower.

After hitting a new 52-week high during regular session trading, Intel's stock fell more than 4 percent in after-hours trading.

The Santa Clara-based chip maker's net income for the three months ended June 30 was $1.28 billion, or 22 cents per share, compared with $885 million, or 15 cents per share during the same period last year.

Were it not for certain one-time tax gains, Intel's profit for the latest quarter would have been lower by 3 cents per share. Analysts surveyed

EW YORK (Reuters) - Homebuilder sentiment slid in July to its lowest since January 1991 as fallout from the housing slump and sub prime mortgage crisis caused a glut of new homes, the National Association of Home Builders said on Tuesday.

The NAHB/Wells Fargo Housing Market index fell to 24 from 28 in June, the group said in a statement. Economists polled by Reuters had thought it would slip to 27. Readings below 50 mean more builders view market conditions as poor than favorable.

"The bottom line is that the single-family housing market is still in a

NEW YORK (AP) -- Blue chip stocks rose Monday as news of a potential big telecom deal involving Verizon gave a boost to the Dow and put the index closer to 14,000. Overall, stocks traded were mixed as investors digested the market's huge gains of last week.

While broader market indexes showed slight declines, the notion of a Verizon deal appeared to inject Wall Street with fresh optimism and helped stocks mostly hold last week's sizable gains because buyout activity has been a big driver for the stock market in the past year.

Although Vodafone Group PLC denied a report by the Financial Times that it is weighing whether to make a huge $160 billion bid for Verizon Communications Inc., investors appeared undeterred. The report cautioned

DETROIT (AP) -- Ford Motor Co., responding to reports that it's putting its Volvo unit up for sale, said it is not negotiating with anyone to sell the Swedish automaker.
The Sunday Times, citing unnamed sources in London, said the decision to sell Volvo, which is part of Ford's Premier Automotive Group, was made in the past two weeks, but that the timing of the sale had yet to be decided.

The New York Times, in a story posted Sunday on its Web site, said Ford would entertain offers for Volvo following a board meeting last week. The newspaper cited people whom it didn't name who it said had knowledge of the situation.

Ford spokesman Tom Hoyt said in an interview with The Associated Press on Sunday that the company wasn't commenting on speculation about Volvo's future. But later in the day, he issued a denial that the automaker was in talks to sell the unit.

General Electric Co. is getting out of the sub prime mortgage business, the latest company to distance itself from an industry that seems to grow messier by the week.

The industrial, finance and media conglomerate, announcing second-quarter profits on Friday of $5.42 billion, said it took a $160 million hit on the sale, but that it has dumped $3.7 billion of its sub prime mortgage portfolio, easing the company out of a worsening environment.

GE's WMC Mortgage has $1.1 billion in mortgage loans remaining.

"In the first quarter we said we were committed to the business and we were," Keith Sherin, chief financial officer, told analysts in a conference call. "Based on the changes we saw, we made the decision to exit the business. I think it was a smart move."

Sub prime mortgage companies, which finance high-interest loans to borrowers with poor credit, have suffered since the housing began to crumble last year.

Starbucks has closed a coffeehouse in China's former imperial palace, the company said Saturday, ending a presence that sparked protests by Chinese critics who said it damaged a key historical site.

The controversy over Starbucks at Beijing's 587-year-old Forbidden City has highlighted Chinese sensitivity about cultural symbols and unease over an influx of foreign pop culture.

Starbucks closed the 200-square-foot outlet Friday after Forbidden City managers decided they wanted all shops on its grounds to operate under the palace's brand name, said Eden Woon, Starbucks' vice president for Greater China.

"It was a very congenial decision. We respect what they are doing," Woon said.

The Starbucks opened in 2000 at the invitation of palace managers, who needed to raise money to maintain the 178-acre complex of villas and gardens. But critics said it was inappropriate. An anchor for Chinese state television led an online protest, saying the coffeehouse diminished Chinese culture.