â¿¿ GERMANY-EARNS-VOLKSWAGEN â¿¿ Volkswagen AG says its first-quarter profit was down 38 percent compared with a year earlier as sagging demand in Europe pushed revenue slightly lower.

â¿¿ FRANCE-PEUGEOT-CITROEN-SALES â¿¿ PSA Peugeot Citroen said crumbling automobile markets across Europe lay behind a steep drop in its first quarter sales.

â¿¿ FRANCE-RENAULT â¿¿ Renault says that sales of its cars slumped 12.6 percent in the first quarter as Europe's sliding economies hit automakers across the continent.

AEROSPACE:

OBAMA-FAA

WASHINGTON â¿¿ Under pressure, the White House signaled Wednesday it might accept legislation eliminating Federal Aviation Administration furloughs blamed for lengthy flight delays for airline passengers, while leaving the rest of $85 billion in across-the-board spending cuts in place. By David Espo and Jim Kuhnhenn.

AP photos.

INDIA-JET-ETIHAD

MUMBAI, India â¿¿ India's Jet Airways approved the sale of a 24 percent stake to Etihad Airways for $379 million, the first foreign investment in an Indian airline since the South Asian country eased restrictions on aviation deals last year. By Kay Johnson.

â¿¿ ISRAEL-F-35 â¿¿ Israel Aerospace Industries says it has signed a long-term contract with U.S. defense giant Lockheed Martin to produce wings for the F-35 next-generation fighter jet.

HEALTH CARE:

EARNS-WELLPOINT

INDIANAPOLIS â¿¿ WellPoint says its first-quarter earnings rose about 3 percent, as the nation's second largest health insurer saw a revenue gain from an acquisition. It also raised its 2013 net income forecast. By Business Writer Tom Murphy.

â¿¿ SWITZERLAND-EARNS-NOVARTIS â¿¿ Swiss pharmaceutical company Novartis AG reports a 6.7 percent increase in profit for the first quarter, boosted by new products and emerging markets. AP photo.

â¿¿ BRITAIN-EARNS-GLAXO â¿¿ Pharmaceutical company GlaxoSmithKline reports a 26 percent drop in profits in the first quarter compared to a year ago, as it restructures its manufacturing and research and development divisions.

EARNINGS:

EARNS-PROCTER & GAMBLE

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