The default rate is rising even among homeowners with good credit who do not hold risky subprime loans. Read more..

By VIKAS BAJAJ and MICHAEL M. GRYNBAUM - The New York Times

With fuel prices almost double what they were a year ago, airlines have switched strategies from expansion to downsizing. Read more..

By MICHELINE MAYNARD - The New York Times

Accounts differ on the timeline of events that led Jane Friedman, the chief executive of HarperCollins Publishers Worldwide, to unexpectedly announce her resignation on Wednesday. Read more..

By MOTOKO RICH - The New York Times

The European Commission threatened to take Germany to court for failing to revoke a law shielding Volkswagen from a hostile takeover. Read more..

By JAMES KANTER - The New York Times

Henry T. Nicholas III faces fraud, conspiracy and drug charges. He is also accused of running a stock options backdating scheme. Read more..

By LAURA M. HOLSON - The New York Times

Verizon Wireless announced it would buy Alltell to create the largest cellphone operator in the United States, while in Europe, a bid was made to create the world’s fourth-largest mobile operator. Read more..

By KEVIN J. O'BRIEN - The New York Times

Take-Two Interactive Software, publisher of the Grand Theft Auto video game franchise, recorded sales of $540 million for its second quarter. Read more..

By MATT RICHTEL - The New York Times

Creative financing led to a string of foreclosures for a Florida couple who had turned speculators. Read more..

By FLOYD NORRIS - The New York Times

The deal catapults Verizon’s wireless business ahead of AT&T Wireless, which falls to No. 2, followed by Sprint Nextel and Deutsche Telecom’s T-Mobile. Read more..

By ANDREW ROSS SORKIN And LAURA M. HOLSON - The New York Times

Zagat Survey ended its search for a buyer, saying it would seek to “grow organically” instead. Read more..

By MICHAEL J. de la MERCED - The New York Times