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Business Highlights

The attitude shows up in all walks of life, from the daily trip to the grocery store to putting a roof over your head.

The economy is so reliant on cash for transactions small and big, a way to ensure you don't spend more than you have, that Germany pushed hard for the ⿬500 note to replace its popular 1,000 mark bill when it joined the common currency.

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Administration projects $1.2 trillion 2012 budget deficit

WASHINGTON (AP) â¿¿ The White House predicts this year's federal budget deficit will end up at $1.2 trillion, marking the fourth consecutive year of trillion dollar-plus deficits during President Barack Obama's administration.

The bleak figures, while expected, are sure to add fuel to the already heated presidential campaign, in which Obama's handling of the economy and the budget is a main topic. Friday's release came as the government announced that U.S. economic growth slowed to an annual rate of just 1.5 percent in the second quarter of this year, as consumers cut back sharply on spending.

The White House budget office also predicts for this year that the economy will grow at a modest 2.6 percent annual rate and that the jobless rate will average 8 percent. It forecasts modest growth of 2.6 percent next year â¿¿ down from the 3.0 percent it predicted in February â¿¿ before rising to 4.0 percent in 2014. Unemployment would remain above 7 percent through the end of 2014, registering at 7.3 percent, the report predicts.

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Google: Didn't delete Street View data after all

LONDON (AP) â¿¿ After being caught spying on people across Europe and Australia with its Wi-Fi-slurping Street View cars, Google had told angry regulators that it would delete the ill-gotten data.

Google broke its promise.

Britain's Information Commissioner's Office (ICO) received a letter from Google in which the company admits it kept a "small portion" of the electronic information it intended to dump.

Stock quotes in this article: CVX, GOOG, MCK, MRK 

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