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The Wire: Latest headlines

• Stocks mostly fall as traders search for direction

Investors pulled away from stocks again as conflicting signs emerged about the direction the economy is taking.

• Popular Tehran Bureau site covers Iran from Mass.

The updates shot quickly onto the Tehran Bureau Web site as postelection chaos gripped Iran: angry street protests, random police beatings, a defiant warning from the ayatollah of more violence to come.

• Bankruptcy judge OKs GM sale plan, appeal looms

A bankruptcy judge has ruled that General Motors Corp. can sell the bulk of its assets to a new company, potentially clearing the way for the automaker to quickly emerge from bankruptcy protection.

• Service sector shrinks less than expected in June

The U.S. services economy _ from retailers and restaurants to real estate brokers _ contracted less than expected in June in its best showing since before the financial crisis struck last fall, according to a private trade group's gauge.

• Crude tumbles on doubts about economic rebound

Oil prices tumbled to five-week lows Monday on growing evidence of an extended recession that could mean demand for energy will remain weak for some time.

• AP IMPACT: New GI benefits vary widely by state

When the new GI Bill kicks in Aug. 1, the government's best-known education program for veterans will get the biggest boost since its World War II-era creation. But the benefit is hardly the "Government Issue," one-size-fits-all standard the name implies.

• EMC hikes offer for Data Domain, bidding escalates

Firing the latest salvo in a bidding brawl, data storage company EMC Corp. boosted its offer for Data Domain which has already accepted a lower bid from NetApp Inc.

• Bemis paying $1.2B for Alcan Packaging assets

Bemis Co., whose clear plastic packages hold everything from batteries to burgers, said late Sunday it is paying $1.2 billion for the global packaging business of Rio Tinto PLC.

• AP analysis: Economic stress up in much of nation

California, Michigan and South Carolina suffered the most financial pain in May as unemployment, home foreclosures and bankruptcies rose, according to The Associated Press' monthly analysis of economic stress in more than 3,100 U.S. counties.

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