AP Executive Morning Briefing

The top business news from The Associated Press for the morning of Friday, August 31, 2007:

Bush to Outline Aid to Mortgage Holders

WASHINGTON (AP) _ Offering federal help for strapped mortgage holders, President Bush is proposing to aid hundreds of thousands of borrowers hard hit by the housing slump. The president on Friday was to talk about several initiatives and reforms to help homeowners with risky mortgages keep their homes, a senior administration official said Thursday. Bush also was to discuss efforts to prevent these kinds of problems from arising in the future.

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US Wants UAE to Set Tougher Trade Limits

WASHINGTON (AP) _ The Bush administration is pressuring the United Arab Emirates to crack down on foreign companies the White House believes are smuggling equipment to nearby Iran to build explosive devices killing American soldiers in Iraq and Afghanistan. The UAE's legislative body, the 40-member Federal National Council, is quietly considering such a proposal, but its prospects are uncertain. The White House has expressed its concerns publicly and through diplomatic channels in Washington about troubling shipments to Iranian front companies operating in Dubai.

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China Approves Seizure of Private Homes

BEIJING (AP) _ China's top legislature has adopted a measure allowing the government to seize private homes on state-owned land, as long as owners are compensated and properly resettled, state media reported Thursday. Government seizure of private property has been a controversial issue as China prepares to host the Beijing Olympics next year. Some activists has accused Beijing of forcing more than 1 million people from their homes to make way for new sports venues.

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Dell 2Q Profit Jumps 46 Percent to $733M

DALLAS (AP) _ Dell Inc. finally saw some positives in its second-quarter earnings report after a year of continuing misfires, but analysts believe it's too soon to tell if the computer maker can return to being an industry juggernaut. In preliminary results posted Thursday, Dell said quarterly earnings jumped 46 percent on stronger sales of business products and services, improved average selling prices and lower component costs.

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Oil Prices Inch Up to Mid-$73 a Barrel

SINGAPORE (AP) _ Oil prices rose Friday in Asia after settling lower the previous session on slower-than-expected economic growth figures and profit-taking. Light, sweet crude for October delivery rose 24 cents to $73.60 a barrel in Asian electronic trading on the New York Mercantile Exchange, midafternoon in Singapore.

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Toyota Plans Vehicle Sales Growth in '09

TOKYO (AP) _ Toyota plans to sell 10.4 million vehicles globally in 2009, it said Friday, a sales target that would put the Japanese automaker ahead of a record hit by world leader General Motors 30 years ago. Analysts say Toyota Motor Corp. is likely on track to beat General Motors Corp. as the world's biggest automaker in global vehicle sales and production this year _ a title Detroit-based GM has held for 76 years.

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China Starts Recall Systems for Food

BEIJING (AP) _ Recall systems for unsafe food products and toys went into effect Friday in China as part of a bid to improve product safety, state media said. Xinhua News Agency said the recall systems _ set up by the General Administration of Quality Supervision, Inspection, and Quarantine _ follow an earlier recall system set up for defective cars in 2005.

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Japanese Stocks Climb; Dollar Up vs. Yen

TOKYO (AP) _ Japanese stocks rose Friday as exporters rallied on the yen's weakness against the dollar and banks climbed on news that the U.S. government was working on a policy to ease subprime woes. Japan's benchmark Nikkei 225 stock index added 415.27 points, or 2.57 percent, to close at 16,569.09 points on the Tokyo Stock Exchange. Thursday, the index rose 0.9 percent.

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Ag. Sec. Wants Lower Farm Subsidy Limit

DECATUR, Ill. (AP) _ The farm bill passed last month by the House doesn't go far enough in limiting which farmers should be eligible to receive government subsidies, U.S. Agriculture Secretary Mike Johanns said. Johanns said the Senate should consider lowering the maximum amount a farmer can earn and still receive federal subsidies from the $1 million per year stipulated in the farm bill.

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Hyundai Workers Urged to Vote for Strike

SEOUL, South Korea (AP) _ The head of Hyundai Motor Co.'s union exhorted members Friday to vote in favor of a strike amid an impasse with management over annual wage negotiations. "I hope you can express your steadfast will to fight," Lee Sang-wook, the union's president, told members in a statement posted on its Web site. "Let's express our rage with an unanimous landslide vote against the company that has cheated more than 44,000 union members."

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Gold Prices

LONDON (AP) _ Gold bullion opened Friday at a bid price of $667.85 a troy ounce, up from $666.95 late Thursday.

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Dollar-Yen

TOKYO (AP) _ The dollar rose against the yen Friday in Asia as Japanese investment funds bought the dollar amid reports U.S. President George W. Bush intends to discuss ways to resolve the subprime mortgage crisis.

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