steep drop

Consumer prices fell last month because of a steep drop in gas costs, a new report shows.

But Americans paid more for autos and clothes in June.

Stocks rose Tuesday as investors moved into riskier assets following a steep drop in the dollar, putting the Dow Jones industrial average near its highest point of the year.

Oil prices rose above $80 a barrel Wednesday in Asia, clawing back some of the previous session's steep drop that was triggered by China's surprise interest rate hike.

German bus and truck maker MAN SE lost euro472 million ($642 million) in the fourth quarter of 2009 amid a steep drop in demand due to the economic downturn, the company said Monday.

Home furnishing company Ethan Allen Interiors Inc. said Wednesday that a steep drop in sales linked to the continued housing slump drove it to a third-quarter loss, reversing its year-ago profit.

Offshore drilling services company Hercules Offshore Inc. said Wednesday it posted a $48.3 million third-quarter loss, citing a steep drop in U.S. exploration and production capital spending.

Swedish truck maker AB Volvo on Friday reported a third-quarter net loss of 2.9 billion kronor ($423 million), due to a steep drop in sales in Europe and the U.S., but said demand was stabilizing, particularly in Asia.

Orders plunged by the largest amount in five months, reflecting continuing trouble in the auto industry and a steep drop in demand for commercial aircraft.

The 16 countries that use the euro saw activity in services and manufacturing contract far less than expected in July, a closely-watched survey showed Friday, in another sign the European economy may be stabilizing after a steep drop earlier in the year.

Airlines have taken a huge hit to revenue due to the steep drop-off in demand for air travel. Revenue for the April-June quarter at the parent of United Airlines was off more than 25 percent.

Investors want to know when the revenue picture is going to improve. Kathryn Mikells, chief financial officer of United Airlines, discussed the issue in the company's second-quarter earnings conference call with analysts and reporters on Tuesday.