August 18, 2004

Increasing number of diners are having their meals at restaurant's bar; photos (M)

Oil Hits Another Record After U.S. Economic News Crude oil prices rose to an intraday record of $46.95 a barrel in New York as strengthening United States economic figures raised concern that production capacity may not be adequate to meet global demand. Prices have surged 44 percent in New York this year on concern that demand will not be met because of supply disruptions in exporting countries. [Page C7.]

Warner Brothers Records has begun showing commercials on MTV and MTV2 for set of voice-greeting ring tones for cellular telephones recorded by members of punk band Green Day; executives in music and cellular industries say it is first time record label has paid to run its own ads for ing tones in US market; ring tones have proved to be lucrative side business for cellphone companies; photo (M)

Air Canada takes another step toward emerging from bankruptcy protection as its creditors approve restructuring that would give them 45.8 percent stake in surviving company; existing shares in Air Canada will stop trading around Sept 30 and be delisted from Toronto Stock Exchange; new airline will be known as Air Canada Enterprises Aviation Holdings (S)

Labor Department reports Consumer Price Index dropped 0.1 percent in July; 'core' rate of inflation, excluding food and energy, climbed 0.1 percent for second consecutive month; gasoline prices plunged 4.2 percent despite surge in crude oil prices; prices are expected to rise in coming months; Federal Reserve estimates industrial production rose 0.4 percent in July and revises its estimate for June to show decline of 0.5 percent instead of 0.3 percent; Commerce Department reports housing starts climbed 8.3 percent in July; graphs (M)