AP Executive Morning Briefing

The top business news from The Associated Press for the morning of Thursday, April 5, 2007:

Wall Street Trends Lower

NEW YORK (AP) _ U.S. stock futures fell Thursday, pointing to a lower opening of regular stock trading, as investors were expected to shore up positions before a three-day weekend. Investors could get more signs about the economy's health when the Labor Department releases weekly jobless claims at 8:30 a.m. EDT.

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Anschutz to Testify in Nacchio's Defense

DENVER (AP) _ Billionaire Philip Anschutz, who hired Joe Nacchio to turn Qwest Communications into a major telecommunications company, has been chosen to kick off the defense's case in Nacchio's insider trading trial. Anschutz, scheduled to be Nacchio's first witness on Thursday when the trial resumes, was expected to testify about the former CEO's employment contract, which included shares representing 3 percent of the company's growth, or about $27 million, by December 2001.

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Company Uses Radar to Report on Traffic

WASHINGTON (AP) _ Ever driven into a traffic jam just after the guy on the radio said the road was all clear? Or braced yourself for the congestion he warned about only to zip right through? A host of private companies say they have the one thing that can ease such frustrations: better information. Now one of those companies, SpeedInfo Inc., has installed 50 solar-powered, wireless radar sensors along major arteries in the District of Columbia that take readings of average traffic speeds twice a minute in both directions. The company says the sensors provide a far more accurate picture of road conditions than can be gleaned from hovering helicopters or highway patrol alerts.

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World Bank: East Asia Faces New Risks

BEIJING (AP) _ China and other East Asian economies could see growth derailed if they fail to boost investment and cope with widening wealth gaps and pollution a decade after the 1997 financial crisis, the World Bank said Thursday. East Asia's developing countries are richer and have a bigger share of the world economy than in 1997, when a crisis sparked by a plunge in the Thai baht dragged the region into recession, the bank said in a report.

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China Labor Probe Expands to More Cities

SHANGHAI, China (AP) _ U.S. fast-food chains McDonald's and KFC said Thursday they are working with Chinese authorities to resolve allegations that the companies underpay their part-time workers, as a labor probe expands to other cities. Labor bureaus in southern China's Guangdong province began investigating after the state-controlled newspaper New Express Daily reported that McDonald's, KFC and Pizza Hut were paying part-time workers less than the local minimum wage of about $1 an hour.

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Oil Prices Recover Slightly in Asia

SINGAPORE (AP) _ Oil prices rose Thursday as traders assessed the impact of Iran's release of 15 British sailors it had held for nearly two weeks. Light, sweet crude for May delivery rose 14 cents to $64.52 a barrel in midafternoon Asian electronic trading on the New York Mercantile Exchange. This followed a drop of 26 cents the day before after the Iranian president announced he would release the Britons.

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Best Buy 4Q Profit Up, Circuit City Loss

MINNEAPOLIS (AP) _ Everyone knew Circuit City was having a bad fourth quarter. Which made Best Buy's good one a little bit of a surprise. The results reported by the nation's two largest electronics chains on Wednesday showed Best Buy increasing its lead over its smaller rival, with profit up 18 percent, while Circuit City lost money. While Best Buy profits from its operations outside the U.S., including China, and a major push into selling installation and advice in addition to TVs and iPods, Circuit City is closing Canadian stores and replacing 3,400 workers with cheaper help.

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Who Wants Chrysler? Chairman Won't Say

BERLIN (AP) _ Shareholders of DaimlerChrysler AG had hoped for a decision on the sale of the money-losing Chrysler unit, or at least news on when that might happen _ but got neither Wednesday at a meeting marked by simmering tension over the automaker's future. The company's board would acknowledge only that an outright sale was among the options being considered _ despite an ongoing recovery plan to stem losses, cut 13,000 North American jobs and pare back production.

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Wal-Mart Defends Security Measures

BENTONVILLE, Ark. (AP) _ Wal-Mart's normally low-profile security efforts were thrust into the limelight Wednesday when a fired technician alleged he had been part of a large surveillance operation that spied on company workers, critics, vendors and consultants. The company defended its security practices. The world's largest retailer declined to comment on specific allegations made by 19-year veteran Bruce Gabbard to the Wall Street Journal in a report published Wednesday. Wal-Mart reiterated that it had fired Gabbard, 44, and his supervisor last month for violating company policy by recording phone calls and intercepting pager messages.

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Zell Wants More Revenue, Not Cuts

CHICAGO (AP) _ In his first extensive interview since agreeing to acquire the Tribune Co., billionaire investor Sam Zell said he did so as a long-term investment, and having the right content is the key to the company's success. "If you are relevant, people are going to buy the newspaper," he said in an interview with Chicago Tribune business editors and reporters. "If you're not relevant, then people will stop buying the newspaper and stop advertising and we'll all be in a stew of trouble."

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Gold Prices

LONDON (AP) _ Gold bullion opened Thursday at a bid price of $672.70 a troy ounce, up from $672.60 late Wednesday.

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Japan Markets

TOKYO (AP) _ Japanese stocks retreated modestly Thursday after strong gains the previous two days as investors sold steel, utility and gas shares.

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Dollar-Yen

TOKYO (AP) _ The dollar was little changed in directionless Asian trading Thursday ahead of the U.S. jobs report and the Easter holidays.

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