AP Business NewsBrief at 3:10 a.m. EST

Mercedes helps Daimler to 57 pct Q4 profit rise

FRANKFURT, Germany (AP) — German automaker Daimler AG delivered forecast-busting fourth quarter earnings on Thursday as its flagship Mercedes business enjoyed buoyant sales in China and the United States. The Stuttgart-based company said its net profit in the fourth quarter rose 57 percent to (EURO)1.78 billion ($2.36 billion), way up on market expectations for a more modest rise to (EURO)1.30 billion. Revenue was also higher than anticipated, up 10 percent to (EURO)29.06 billion, and against forecasts of (EURO)27.70 billion.

China Jan. auto sales fall 24 pct, hit by holiday

SHANGHAI (AP) — The year of the dragon came in with a whimper instead of a roar as Chinese industry data show passenger car sales in the world's biggest auto market fell 24 percent from a year earlier. The China Association of Automobile Manufacturers said Thursday that 1.16 million passenger cars were sold in January, down from a monthly record 1.5 million a year earlier.

Greece, creditors end talks without full deal

ATHENS, Greece (AP) — Greece failed to finalize terms for a crucial (EURO)130 billion ($173 billion) bailout Thursday, but Finance Minister Evangelos Venizelos headed to Brussels to meet top EU officials, hoping to rescue the agreement and stave off bankruptcy. The Athens talks stalled after leaders of the three parties backing Greece's coalition government approved sweeping new austerity measures but failed to agree to creditors' demands to make (EURO)300 million ($398 million) in pension cuts.

Gulf carrier Etihad posts first profit of $14M

DUBAI, United Arab Emirates (AP) — Etihad Airways, the fast-growing Gulf carrier, on Thursday posted its first annual profit since starting operations just over eight years ago. The airline said it moved into the black with net earnings of $14 million. That is better than its previously stated goal, which had been to break even for the first time in 2011.

US jobs gap between young and old is widest ever

WASHINGTON (AP) — Squeezed by a tight job market, young Americans are especially struggling. They have suffered bigger income losses than other age groups and are less likely to be employed than at any time since World War II. An analysis by the Pew Research Center, released Thursday, details the impact of the recent recession on the attitudes of a generation of mostly 20- and 30-somethings.

Asia stocks fall as Chinese inflation heats up

BANGKOK (AP) — Asian stocks fell Thursday after data showed inflation in China was heating up again, complicating efforts by Beijing to stimulate the world's No. 2 economy. A snag in talks to prevent Greece going bankrupt also weighed on sentiment. Benchmark oil hovered below $99 per barrel while the dollar rose against the euro and the yen.

Source: NY, California to sign mortgage settlement

ALBANY, N.Y. (AP) — New York and California have agreed to sign the proposed settlement between U.S. states and the nation's biggest mortgage lenders over foreclosure abuses, according to a source close to the negotiations. Bank of America, JPMorgan Chase, Wells Fargo, Citibank and Ally Financial agreed to the settlement — for an estimated $37 billion as of Wednesday for lowering homeowners' mortgage principal, refinancing, a reserve account, and checks to homeowners. However, they were seeking releases from further legal liability, which have been one subject of negotiations for the past several days with state attorneys general who wanted to pursue investigations.

China's inflation rebounds in January to 4.5 pct

BEIJING (AP) — China's inflation rebounded in January as food prices soared, renewing pressure on Beijing to control living costs as it tries to boost slowing growth amid warnings of a looming global downturn. Consumer prices in the world's second-largest economy rose by an unexpectedly strong 4.5 percent over a year earlier, up from December's 4.1 percent, data showed Thursday. Food prices jumped 10.5 percent, accelerating from the previous month's 9.1 percent rate.

NRC sets vote on Georgia nuclear reactors

WASHINGTON (AP) — Federal regulators are considering a plan to build the nation's first nuclear power plant in a generation. The Nuclear Regulatory Commission is set to vote Thursday on Atlanta-based Southern Co.'s request to build two new reactors at Plant Vogtle in eastern Georgia.

Oil near $99 as US crude demand lags economy

SINGAPORE (AP) — Oil prices rose slightly higher to above $99 a barrel Thursday in Asia as U.S. crude demand lags the overall improvement in the world's biggest economy. Benchmark crude for March delivery was up 39 cents at $99.10 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract rose 30 cents to settle at $98.71 on Wednesday.