Your customized headlines for Fri, Jul 6, 2012

European regulators last week imposed a $1.1 billion fine on a technology giant that "abused its dominant position." The company was Microsoft, circa 1998.

U.S. officials weren't much faster. Last year, it officially closed its 14-year-old antitrust case against the software firm.

Applications for unemployment benefits decreased last week, even as growth in the nation's service industries slowed in June to the lowest level in well over two years, adding contradictory data to an already muddy economic picture leading into Friday's jobs report.

Around the country, banks and other lenders are still being stingy in providing credit to ordinary consumers. Only the most financially stable of Americans can secure mortgages. Small businesses are having trouble getting loans. Credit card access is restricted.

For three decades, China
has enjoyed astronomical growth through massive government investment and by becoming the world's exporting powerhouse. But those days are coming to an end, and the government is looking to Chinese consumers to drive future expansion.

Mortgage rates continued their decline this week, with the 30-year fixed-rate average having met or matched a record low in 10 of the past 11 weeks, according to the latest data released Thursday by Freddie Mac.

Applications for unemployment benefits decreased last week, even as growth in the nation's service industries slowed in June to the lowest level in well over two years, adding contradictory data to an already muddy economic picture leading into Friday's jobs report.