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Price Of Oil Rises
Spencer Platt, Getty Images
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Oil Prices Climb

NEW YORK (AP) — Oil prices are climbing after Iran said it will cut off crude exports to Europe in retaliation for a planned embargo later this year.

Benchmark U.S. crude rose $1 to $101.74 per barrel in New York

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Air Force Cuts
Koichi Kamoshida, Getty Images
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Air Force Making Cuts

WASHINGTON (AP) — The Air Force says it will cut the service by nearly 10,000 active, National Guard and Reserve airmen next year, as part of a broad move to downsize and shift capabilities around the country to be better prepared for wars of the future

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Markets React To Positive Jobs Report
Spencer Platt, Getty Images
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Highest Dow Close Since 2008

NEW YORK (AP) — The Dow Jones industrial average has closed at its highest level since before the 2008 financial crisis.

The Dow jumped 157 points Friday to close at 12,862. That's the highest since May 2008

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Ahmadinejad
Getty Images
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Senate Panel Okays Iran Sanctions

WASHINGTON (AP) — A Senate panel is backing sweeping new penalties on Iran with lawmakers arguing the economic pressure will undercut Tehran's nuclear ambitions.

The Banking Committee approved the legislation Thursday by voice vote in a rare instance of bipartisanship

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Eurozone Unemployment Ends 2011 At Record High

LONDON (AP) — Unemployment across the 17 countries that use the euro ended 2011 at a record high of one person in every 10, official figures showed Tuesday, a day after EU leaders acknowledged they would have to boost economic growth with the same urgency that they had shown in combating their nations' debts

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London Olympic Travel Plan: Be Patient, Drink Beer

LONDON (AP) — Olympic organizers have some travel advice for the millions of people who work and live in London: Be patient. Have a beer. Telecommute.

Rejecting suggestions of possible transport chaos during the July 27-Aug

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Tullio M. Puglia/Getty Images
Tullio M. Puglia/Getty Images
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Italian Islanders Worry About Their Future

GIGLIO, Italy (AP) — Residents of the Italian island of Giglio were increasingly worried about threats to the environment and their prized tourism industry as bad weather on Monday delayed crews from pumping oil out of the stricken cruise ship on their shore

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Japan Population To Shrink By One-Third By 2060

TOKYO (AP) — Japan's rapid aging means the national population of 128 million will shrink by one-third by 2060 and seniors will account for 40 percent of people, placing a greater burden on the shrinking work force population to support the social security and tax systems

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Oil Hovers Near $100 Amid Iran Tensions

BANGKOK (AP) — Crude prices were steady Friday amid a weaker U.S. dollar and expectations that Europe will be able to find oil elsewhere if Iran makes good on its threat to immediately halt exports to the region

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EU Formally Adopts Iran Oil Embargo

BRUSSELS (AP) — The European Union formally adopted an oil embargo Monday against Iran and a freeze of the assets of the country's central bank, part of sanctions meant to pressure the country to resume talks on its nuclear program

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