With AP Photos.WORLD MARKETS AMSTERDAM â¿¿ World stocks shrugged off worries over political turmoil in Egypt and rallied strongly on optimism that easy monetary policy from central banks in Europe is set to continue for some time to come. U.S. markets were closed for Independence Day. By Toby Sterling. ECONOMY: PORTUGAL-FINANCIAL-CRISIS LISBON, Portugal â¿¿ The leaders of Portugal's governing coalition parties remained locked in negotiations Thursday as they attempted to repair differences that threatened to pitch the bailed-out country into turmoil and reignite concerns over Europe's debt crisis. By Barry Hatton PAKISTAN-IMF ISLAMABAD â¿¿ Pakistan takes a major step toward averting an economic crisis, reaching an initial deal with the International Monetary Fund on a bailout of at least $5.3 billion to help shore up the country's rapidly diminishing foreign reserves. The announcement is expected to help calm fears of financial instability in Pakistan, a nuclear-armed nation of 180 million people that is also grappling with rampant violence by Islamic militants. By Sebastian Abbot. BRITAIN-ECONOMY LONDON â¿¿ The Bank of England has opted to refrain from pumping more money into the U.K. economy in its first meeting since new Governor Mark Carney's arrival. The Monetary Policy Committee kept interest rates at 0.5 percent Thursday and decided against expanding its stimulus program. AP Photos INDUSTRY: SOLAR PLANE WASHINGTON â¿¿ In noisy, energetic New York City, the pilots of a spindly plane that looks more toy than jet hope to grab attention in a surprising way: By being silent and consuming little energy. This revolutionary solar-powered plane is about to end a slow and symbolic journey across America by quietly buzzing the Statue of Liberty and landing in a city whose buildings often obscure the power-giving sun. Science Writer Seth Borenstein. CLIMATE CHANGE BOW, N.H. â¿¿ President Barack Obama's push to fight global warming has triggered condemnation from the coal industry across the industrial Midwest, where state and local economies depend on the health of an energy sector facing strict new pollution limits. By Steve Peoples.
CHINA-INFANT FORMULABEIJING â¿¿ Nestle SA says it will cut infant formula prices in China by an average of 11 percent starting Monday in response to an investigation into alleged price-fixing by several foreign companies. The price cuts by the company's Wyeth Nutrition unit will be maintained through 2014, and the prices of some products will be cut by up to 20 percent, a spokesman said. China has been investigating five foreign companies and one Chinese company for allegedly violating market competition laws by manipulating retailers to sell infant formula at inflated prices. BRITAIN-RUPERT-MURDOCH LONDON â¿¿ Media mogul Rupert Murdoch has been recorded saying wrongdoing by his British newspapers was "next to nothing" and apparently acknowledging that his reporters paid police officers for information. In a tape published in transcript by the ExaroNews journalism website and broadcast Wednesday on Channel 4 News, Murdoch is heard saying, "it's the biggest inquiry ever, over next to nothing." By Jill Lawless. AP Photos With: PAULA DEEN â¿¿Paula Deen is ending her business relationship with a longtime agent after her admission that she used racial slurs in the past resulted in the loss of major pieces of her media and merchandising empire. Also moved for use on July 4 and thereafter: SMALLBIZ-BEER-ECONOMIC IMPACT NEW YORK â¿¿ To see how a small business can transform a neighborhood, just follow the barrels. As the craft beer market grows, drinkers aren't the only beneficiaries. From New England to the Pacific Northwest, new businesses have bubbled up around craft breweries, drawing young people and creating a vibrant community where families could plant roots and where small businesses can thrive. By Business Writer Tali Arbel. AP photos. With: â¿¿ SMALLBIZ-BREWERIES â¿¿ Brewery owners tackled the hard work of renovating old buildings in rundown urban neighborhoods. Their efforts have helped create small-business hubs around them. A look at six craft breweries that transformed their surroundings. AP photos. â¿¿SMALLBIZ-BREWERIES-PHOTO GALLERY Eds: Photos include before and after photos of neighborhoods.