AP Executive Morning Briefing

The top business news from The Associated Press for the morning of Friday, August 24, 2007:

Super-Size What? The Big Mac Turns 40

CHICAGO (AP) _ Normally, a 40-year-old sandwich would be something to be avoided. Unless you're one of millions who flock to McDonald's each year to chow down on a Big Mac. The triple-decker burger, which helped breed America's super-size culture and restaurants' ever-expanding jumbo meals, is turning 40. For some fast-food junkies, that's cause for celebration. "The flavors that come together _ it's like heaven in your mouth," said April Kohlhaas, a 31-year-old Chicago resident. "It's just tradition, like American comfort food."

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Few Wanted Job at Ground Zero Tower

NEW YORK (AP) _ Wanted: A demolition company willing to tear down a building contaminated with asbestos that some say is the most difficult project in the most difficult construction city in the world. With building costs in New York far higher than those in the rest of the country, and a host of agencies regulating the project, a number of contractors didn't even bother bidding for the job to tear down the former Deutsche Bank building scarred by the Sept. 11, 2001, terrorist attacks.

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N.Y. Utility Scrapping Ocean Wind Park

GARDEN CITY, N.Y. (AP) _ Long Island's utility company intends to dump plans to build a $700 million wind energy park in the Atlantic Ocean, a top official said. "It's just too expensive," Long Island Power Authority Chairman Kevin Law told The Associated Press. "It's not going to work. This is an economically based decision. We didn't even have to consider environmental or aesthetic concerns."

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Court Clears Way for Whole Foods Merger

WASHINGTON (AP) _ A federal appeals court on Thursday cleared the way for Whole Foods Market Inc. to buy rival organic grocer Wild Oats Markets Inc. The three-judge panel of the U.S. Court of Appeals for the District of Columbia Circuit denied a request by the Federal Trade Commission to delay the $565 million sale pending the outcome of an appeal. Whole Foods lawyers argued that such a ruling would have killed the deal.

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Oil Prices Steady in Asian Trading

SINGAPORE (AP) _ Oil prices were steady Friday following an overnight rebound as a more stable stock market alleviated traders' worries about an economic slump dampening demand. Light, sweet crude for October delivery dropped 2 cents to $69.81 a barrel in Asian electronic trading on the New York Mercantile Exchange, midmorning in Singapore. The contract rose 57 cents to settle at $69.83 a barrel Thursday.

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S.Korea to Resume US Beef Inspections

SEOUL, South Korea (AP) _ South Korea's Ministry of Agriculture and Forestry said Friday that imports of U.S. beef can resume as it will restart quarantine inspections suspended since earlier this month. South Korea had again effectively stopped all U.S. beef imports in early August after discovering shipment containing a vertebrae.

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Gap Top-to-Bottom Makeover Boosts Profit

SAN FRANCISCO (AP) _ The Gap is back _ almost. That's what executives at the San Francisco-based retailer are saying midway through a top-to-bottom restructuring, changing everything from the CEO to colors of their trademark jeans. After seven straight quarters of earnings erosion, Gap Inc. on Thursday posted a second-quarter profit that surged 19 percent. Net earnings for the quarter ended Aug. 4 were $152 million, or 19 cents per share, compared with $128 million, or 15 cents per share, in the year-ago period.

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Japanese Stocks Down; Dollar Up vs. Yen

TOKYO (AP) _ Japanese stocks edged down Friday on profit-taking in the wake of the previous day's strong rally. The benchmark Nikkei 225 stock index fell 67.35 points, or 0.41 percent, to finish at 16,248.97 points on the Tokyo Stock Exchange.

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Wal-Mart Steps Up Toy Testing

Wal-Mart Stores Inc. is stepping up testing and safety reviews of the toys it sells to reassure consumers ahead of the critical holiday season after a series of recalls of Chinese-made toys over hazards to children. Wal-Mart's top toy executive said Thursday the retailer will ask manufacturers to resubmit testing documentation for toys already on the shelves or in shipment, so that Wal-Mart can double-check the results.

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Two Major Airlines Admit to Price Fixing

WASHINGTON (AP) _ Two major airlines were fined $300 million apiece Thursday after admitting they conspired to fix prices on international flights and agreeing to help prosecutors investigate other airlines. British Airways PLC, Britain's largest airline, and Korean Air Co., South Korea's national carrier, pleaded guilty to antitrust conspiracy charges. They acknowledged colluding with rivals over cargo rates and fuel surcharges, which were added to fares in response to rising oil prices. That meant higher costs for international shippers and passengers.

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Gold Prices

LONDON (AP) _ Gold bullion opened Friday at a bid price of $657.70 a troy ounce, down from $659.50 late Thursday.

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Dollar-Yen

TOKYO (AP) _ The dollar was little changed in Asia Friday as continuing worries about global credit market fears were offset by moves among some investors to sell the yen and buy back the dollar.

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