AP Executive Morning Briefing

The top business news from The Associated Press for the morning of Monday, January 22, 2007:

Earnings Command Wall Street's Attention

NEW YORK (AP) _ Wall Street faces another busy week with a passel of major earnings reports, and investors will also be watching for any surprises that might unfold in Tuesday's State of the Union address. Earnings will likely command most of investors' attention as Wall Street debates whether profit growth will hold up and searches for signs of a larger slowdown that could prompt a reduction in short-term interest rates by the Federal Reserve. Results from scores of big companies such as American Express Co., Ford Motor Co. and Microsoft Corp. are expected and will likely overshadow a comparatively light economic calendar.

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Winter Blast in U.S. Lifts Oil Prices

SINGAPORE (AP) _ Oil prices rose in Asian trading Monday following a weekend winter blast in the United States, the world's largest heating oil market. "It's the falling temperature in the U.S. Northeast that has prompted market participants to speculate that higher fuel demand will stamp out the high U.S. inventories," said Victor Shum, an analyst with Purvin & Gertz in Singapore.

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Gas Price Down About 14 Cents in 2 Weeks

CAMARILLO, Calif. (AP) _ The average retail price of gasoline nationwide dropped nearly 14 cents over the past two weeks, mirroring a drop in crude oil prices. The national average for self-serve regular was $2.18 a gallon, industry analyst Trilby Lundberg said Sunday.

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Programs Let Homes Produce Green Power

HYDE PARK, N.Y. (AP) _ When the sun shines bright on their home in New York's Hudson Valley, John and Anna Bagnall live out a homeowner's fantasy. Their electricity meter runs backward. Solar panels on their barn roof can often provide enough for all their electricity needs. Sometimes _ and this is the best part _ their solar setup actually pushes power back into the system. The Bagnalls "net meter," a state-sanctioned setup that allows homeowners to adopt renewable energy without taking the more radical step of disconnecting from their local electric utility, Central Hudson Gas & Electric.

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Retailers Hope Windows Vista Boost Sales

DALLAS (AP) _ Some retailers are planning to use tactics normally reserved for must-have electronics such as new video-game consoles when the Windows Vista computer operating system goes on sale to the public next week. CompUSA Inc. will throw open the doors of its 230 stores shortly before midnight for the Jan. 30 launch and start selling the first Vista-equipped desktop and notebook computers the minute it can do so under its arrangement with Vista's maker, Microsoft Corp.

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China's Dongfeng in Talks With Volvo

HONG KONG (AP) _ Chinese automaker Dongfeng Motor Group Co. said Monday it is considering selling a stake in a commercial vehicle unit to Swedish truck maker AB Volvo. The unit is part of Dongfeng's joint venture with Japan's Nissan Motor Co. The three parties were discussing whether Volvo would replace the Japanese company as Dongfeng's partner in the medium and heavy-duty commercial vehicles arm, the Chinese automaker said in a statement.

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Shanghai Index Surges to New Record

SHANGHAI, China (AP) _ Chinese stocks surged to a record high on Monday, with the key Shanghai Composite Index gaining 3.6 percent to close at 2,933.19 on strong buying of retailers and transportation shares. The smaller Shenzhen Composite Index jumped 4.2 percent to 700.20, also a record high close.

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British Airways Cabin Crew to Strike

LONDON (AP)_ Thousands of British Airways cabin crew plan to stage a three-day strike following the breakdown of talks aimed at resolving a row over sickness absence, pay and staffing, their union said Sunday. Flight attendants will walk out Jan. 29-31, the Transport and General Worker's Union said. The union notified BA of its intention to call out cabin crew on strike again Feb. 6-8 and Feb. 12-14 if the dispute is not resolved.

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Can Beckham Appeal to L.A. Hispanics?

LOS ANGELES (AP) _ Whether David Beckham's American adventure proves a financial boon or multimillion-dollar blunder for Major League Soccer could depend on how well Beckham wins over fans such as Rodrigo Diaz. Diaz emigrated from Mexico when he was 14, plays soccer with his friends at a local park and occasionally goes to watch the league's two Los Angeles-based teams, Chivas USA and the Galaxy.

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NASD Firms OK Oversight Merger With NYSE

WASHINGTON (AP) _ Members of NASD have approved bylaw changes needed to combine regulatory functions with NYSE Group Inc. and form one organization to oversee U.S. securities brokers and dealers, NASD said Sunday. Consolidating the self-regulatory functions of NASD, formerly known as the National Association of Securities Dealers, and NYSE into one entity will help end duplication, reduce costs and make U.S. markets more competitive, NASD said in a news release.

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Gold Prices

HONG KONG (AP) _ Gold closed at $635 an ounce on Monday in Hong Kong, up $6.70 an ounce from Friday's close of $628.30.

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Japan Markets

TOKYO (AP) _ Japanese stocks rose Monday, led by gains in steelmakers and real estate developers as investors took an optimistic view of the upcoming earnings season.

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Dollar-Yen

TOKYO (AP) _ The dollar rose in Asia Monday amid bullish sentiments on the U.S. currency boosted by questions about the indepedence of the Bank of Japan.

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