AP Executive Morning Briefing

The top business news from The Associated Press for the morning of Monday, June 18, 2007:

AP: Blockbuster to Favor Blu-Ray HD Disc

LOS ANGELES (AP) _ Blockbuster Inc. will rent high-definition DVDs only in the Blu-ray format in 1,450 stores when it expands its high-def offerings next month, dealing a major blow to the rival HD DVD format. The move, being announced Monday, could be the first step in resolving a format war that has kept confused consumers from rushing to buy new DVD players until they can determine which format will dominate the market.

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U.S. Stocks Head for Higher Open

NEW YORK (AP) _ Stocks headed for a moderately higher open Monday as investors awaited signals of whether last week's market recovery will hold and whether bond yields will remain in check. Tame inflation readings lifted Wall Street late last week and pushed bond yields lower as interest rate concerns subsided somewhat.

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Oil Industry Scales Back Refinery Plans

WASHINGTON (AP) _ A push from Congress and the White House for huge increases in biofuels, such as ethanol, is prompting the oil industry to scale back its plans for refinery expansions. That could keep gasoline prices high, possibly for years to come. With President Bush calling for a 20 percent drop in gasoline use and the Senate now debating legislation for huge increases in ethanol production, oil companies see growing uncertainty about future gasoline demand and little need to expand refineries or build new ones.

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Microsoft Buy Stake in Chinese TV Maker

BEIJING (AP) _ Microsoft Corp. and a major Chinese TV set maker announced Monday they will jointly develop entertainment products linking television and the Internet, joining a race to profit from the Web's growing status as a channel to distribute movies and other programs. As a part of the deal, Microsoft will become a strategic investor in Changhong, buying just under 1 percent of its shares for about $12 million, Changhong said in a prepared statement.

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NASCAR Sues AT&T for $100 Million

ATLANTA (AP) _ NASCAR filed a $100 million counter claim against AT&T Inc. on Sunday, accusing the wireless provider of interfering with its exclusive sponsorship agreement with rival wireless company Nextel. The suit also asks that NASCAR be granted the right to kick AT&T _ and all telecommunications companies other than Nextel _ out of its top series in 2008.

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Oil Prices Mixed in Asian Trading

SINGAPORE (AP) _ Oil prices were mixed Monday amid concerns U.S. gasoline supplies are still not meeting peak summer demand. "There's still the ongoing problems with getting enough gasoline ready," said Tobin Gorey, a commodity strategist with the Commonwealth Bank of Australia in Sydney.

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GE, Pearson Discussing WSJ Publisher Bid

NEW YORK (AP) _ General Electric Co. and Financial Times publisher Pearson PLC are discussing making a joint bid for Wall Street Journal publisher Dow Jones & Co., the Journal reported Sunday. The joint venture would combine the Financial Times, Dow Jones and business channel CNBC in a privately held joint venture, the Journal reported, citing people familiar with the matter. It would be owned in equal parts by GE and Pearson, with Dow Jones' controlling shareholders, the Bancroft family, keeping a minority stake in the new company, the report said.

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Few Gas Stations Offer Ethanol Fuel Mix

ALBANY, N.Y. (AP) _ Steve Williams does what millions of American motorists can't: Fill up on cheaper, ethanol-based fuel from a local gas station. Advocates, including farmers and President Bush, have offered E85 _ a blend of 85 percent ethanol and gasoline _ as an affordable way to help the nation grow itself toward energy independence with a cleaner-burning fuel. They would like to see more people like Williams, who filled up his 2003 Ford Explorer with E85 on a recent morning.

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Feds Could Bar Ky. Ginseng Exports

FRANKFORT, Ky. (AP) _ Exports of wild American ginseng could be cut by some 20 percent if the U.S. Fish and Wildlife Service bars Kentucky from selling the medicinal herb internationally. Kentucky, the nation's leading producer of ginseng, may have jeopardized its right to export the highly prized roots by not adequately policing their harvest and sale, said Pat Ford, a Fish and Wildlife Service botanist who oversees the nation's ginseng program.

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Supermarkets Offering Personal Scanners

SCAGGSVILLE, Md. (AP) _ Stephanie Cerneck doesn't go through the checkout line at her supermarket anymore. Or even the self-checkout line. She uses a personal scanner offered by the Bloom grocery store near her home, scanning each item as she takes it off the shelf and bagging as she shops. When she's done, she pays at a terminal at the front of the store. "When I come up to the checkout, everything's already bagged, I go to my car, I'm done. No waiting in line," she said at the suburban store between Washington and Baltimore.

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Gold Prices

HONG KONG (AP) _ Gold closed at $657.55 an ounce on Monday in Hong Kong, up $6.60 an ounce from Friday's close of $650.95.

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Japan Markets

TOKYO (AP) _ Japanese stocks rose to a three-month high Monday as a weaker yen continued to help lift exporters like Honda and shipping shares.

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Dollar-Yen

TOKYO (AP) _ The dollar rose to a fresh four-and-a-half-year high against the dollar as Japanese investors shifted more of their funds overseas to earn better returns.

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