Intel said Sunday it plans to sell its new generation of chips for desktop computers under the established "Core" brand, with the first...

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Intel said Sunday it plans to sell its new generation of chips for desktop computers under the established “Core” brand, with the first chips of the new line to be called Core i7.

The microprocessors are expected to be in production the last three months of this year. Intel says their new design will deliver both high performance and energy efficiency.

Intel indicated the Core name, already used for other chips including the Core 2 Duo processor, will be its flagship PC processor brand.

Labor

Verizon, unions avert walkout

Verizon Communications, the second-biggest U.S. phone company, reached an agreement on terms of a new labor contract, avoiding a strike by two unions that represent more than 65,000 workers.

The contract will last three years, a change from the previous five-year contracts, Verizon said Sunday. Under the terms, the company will create about 2,500 jobs, raise pay about 10 percent over three years and continue to provide fully paid health-care premiums.

Members of the Communications Workers of America and the International Brotherhood of Electrical Workers had threatened to strike if an agreement wasn’t reached by today.

Labor

Union at Qwest OKs possible strike

Members of the largest employee union at Qwest Communications International have voted to authorize a strike if talks fail to produce a new contract.

Communications Workers of America District 7 said 93 percent of voting members had authorized a strike if needed.

A contract covering about 20,000 workers at Qwest expires Aug. 17. Qwest is providing communications at both upcoming national political conventions.

The talks cover workers in Colorado, Arizona, Iowa, Idaho, Minnesota, Nebraska, New Mexico, North Dakota, Oregon, South Dakota, Utah, Washington and Wyoming.

Energy

Gas at pump falls 15 cents in 2 weeks

The average price of regular gasoline at the pump fell to $3.85 a gallon, according to oil-industry analyst Trilby Lundberg’s survey of 7,000 filling stations nationwide

Gasoline dropped 15 cents in the two weeks ended Friday, according to the survey.

Crude oil, which accounts for 74 percent of the pump price, has fallen 22 percent from the record $147.27 reached July 11, as fuel use declined.

“This is crude oil at work,” Lundberg said. “There’s no factor stronger and crude oil is down about $10 just in the past week. We are seeing that at the pump, and a great deal of it has been passed through already.”

Gasoline prices retreated along with inventories, which have fallen 3.6 percent since July 18. Falling supplies may indicate refiners are switching from gasoline to heating oil and other fuels, which are more profitable.

The highest average price for self-serve regular was $4.37 in Anchorage. The lowest was in Tulsa, Okla., at $3.50 a gallon.

In the Seattle-Bellevue-Everett area, the price was $4.06 Sunday, down from $4.37 a month ago, according to AAA’s Daily Fuel Gauge Report.

Retail

Best Buy launching kiosks at airports

Best Buy plans to add a dozen vending kiosks inside major airports across the country as part of a new pilot program called “Best Buy Express,” company executives said.

The nation’s largest consumer-electronics retailer is partnering with ZoomSystems, a San Francisco-based vending-machine company, for the project that will install the small automated stores at eight airports.

The machines will stock cellphone and computer accessories, along with digital cameras, portable data-storage devices, headphones, travel adapters, electronic chargers and other gadgets.

The self-serve kiosks will be installed by Sept. 1 in airports in Atlanta, Boston, Dallas, Houston, Las Vegas, Los Angeles, Minneapolis and San Francisco.

Compiled from Bloomberg News and The Associated Press