Business

Business briefs

OLYMPIA - The Washington Sate Employees Credit Union is having a free "shred day" event at its downtown headquarters from 10 a.m. to 2 p.m. today for people wanting to dispose of old tax returns, bank statements and other personal papers.

The event is open to the public and people can bring up to 150 pounds of material to shred. The credit union is at 400 E. Union Ave., Olympia.

EARNINGS


Clear Channel reports good billboard business

SAN ANTONIO - Radio and billboard giant Clear Channel Communications Inc. earned $236 million during the second quarter, 19 percent more than the same period last year, as outdoor advertising continued to post strong growth.

Revenue from the company's radio business, which has faced stiff competition from satellite and digital music players in the last several years, continued to be nearly flat, but billboards and outdoor displays posted 12 percent gains, according to the earnings report released Friday.

The company said second quarter revenue totaled $1.8 billion, up from $1.7 billion last year.

Chevron enjoys profits from high-price fuel

SAN RAMON, Calif. - Chevron Corp.'s profits soared to new heights in the second quarter, capping another round of astounding oil industry earnings that have piled up as high gasoline prices squeeze household budgets.

The San Ramon-based company said Friday that it made $5.38 billion, or $2.52 per share, during the three months ended June 30. That represented a 24 percent increase from net income of $4.35 billion, or $1.97 per share, a year earlier.

Europe, China markets spur Volkswagen sales

FRANKFURT, Germany - Volkswagen AG, Europe's biggest automaker by sales, said Friday that its profit in the second quarter and first six months of 2007 soared on better-than-expected sales in Europe and China.

The Wolfsburg-based company earned $1.67 billion in the second quarter, up 42 percent from a year earlier. Sales rose 6.2 percent to $38.71 billion.

COMMUNICATIONS


CBS, Imus near settlement in breach of contract suit

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