Concerns about safety oversight prompted the move, the Federal Aviation Administration said. The action won’t stop flights between the two countries, but it will prevent Mexican airlines like AeroMexico and Mexicana from expanding service to the United States.
AP – The Internal Revenue Service is offering a reprieve to hundreds of thousands of small charities in danger of losing their tax exempt status because they missed a tax filing deadline.
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IRS offers reprieve for charities missing deadline
(AP)
AP – Moody’s Investor Services has warned it may be downgrading its view on Hungary’s debt position following the recent breakdown of the country’s talks with the International Monetary Fund and the European Union.
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Moody’s puts Hungary on notice for rating cut
(AP)
AP – PROFITS DESPITE SPILL: Even with a halt to deepwater drilling in the Gulf of Mexico, oil services company Halliburton Co. reported an 83-percent surge in second-quarter profits.
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Halliburton 2Q profit jumps 83 percent
(AP)
Reuters – Belgian financial services group KBC and Franco-Belgian banking group Dexia have passed tests designed to assess their health in the event of a downturn, two Belgian newspapers said over the weekend.
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Dexia, KBC have passed bank stress tests: paper
(Reuters)
AP – NARROWER LOSS: Advanced Micro Devices Inc. shrank its second-quarter loss to $43 million, or 6 cents per share. Revenue jumped 40 percent from last year to $1.65 billion.
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Summary Box: AMD whittles 2Q loss
(AP)
AP – THE DROP: Infosys Technologies Ltd., India’s second-largest software services company, said quarterly profit fell as a weak euro ate into overseas earnings. U.S.-listed shares fell 6.5 percent.
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Summary Box: India’s Infosys posts lower profit
(AP)
On Tuesday, the cost of a new passport will increase from $100 to $135. The cost to renew a passport will go up $35 to $110. Melissa Block talks with Brenda Sprague, deputy assistant secretary for passport services, about the fee increases.
The Upshot – What’s the best advice Warren Buffett has ever received?  You might be surprised: It has nothing to do with money. Watch here: In an exclusive interview with Yahoo! News and the Huffington Post, he credited his father with teaching him …
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Buffett recounts the best advice he’s ever received
(The Upshot)
Reuters – The U.S. service sector expanded in June for a sixth straight month but growth was at the slowest pace since February, the latest evidence that the economic recovery is cooling.
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Service sector grows more slowly, employment weak
(Reuters)
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