ENERGY
Cape Wind sees a path forward after ruling
A US Appeals Court panel in Washington ruled on Tuesday that Cape Wind Associates still has more work to do before it can move forward with its proposed 130 wind turbine project for Nantucket Sound. The developer hailed the court’s decision on a lawsuit filed by opponents as a positive one, saying the ruling leaves only two primary federal permit issues unresolved: data involving the sea floor and subsurface conditions, and questions about potential harm to birds that fly through the area. Cape Wind president Jim Gordon said any delays to the project should be relatively minimal as a result, because the bulk of the information sought by the court has already been compiled. “We think today’s decision provides a road map forward,’’ Gordon said. The bigger potential threat to Gordon’s project is financing: He is counting on Cape Wind being included in an energy bill before the state Legislature, one that would spur utilities to enter into long-term contracts for offshore wind energy. Legislative leaders disagree about whether Cape Wind should be eligible for this new bidding process; a final decision is expected by the end of the month. — JON CHESTO
GASOLINE
Pump prices take a dip
Gasoline prices in Massachusetts dropped 4 cents during the last week, according to AAA Northeast. The average price Tuesday for self-serve regular unleaded was $2.21 per gallon in Massachusetts, down from $2.25 last week, according to the latest AAA survey. At this time last year the average was $2.75 per gallon. The price in Massachusetts is 6 cents below the national per-gallon average for regular unleaded of $2.27. This is the first time since 2013 that prices have gone down between the Memorial Day and Fourth of July holidays, “reversing the traditional pattern of higher summertime prices,’’ said Mary Maguire, AAA’s director of public and legislative affairs. Gasoline prices in Massachusetts as of Tuesday ranged from a low of $2.07 to a high of $2.49 for regular unleaded, according to the auto club. — KATHELEEN CONTI
MANUFACTURING
Factory orders slump in May
Orders at US factories dipped in May, dragged down by less demand for steel, aluminum, furniture, electrical appliances, and military aircraft. The Commerce Department said Tuesday that factory orders fell 1 percent in May, after gains in the two prior months. So far this year, orders for manufactured goods have dropped 1.9 percent to $2.2 trillion compared to the same period in 2015. The decline suggests that US manufacturers have yet to fully recover from the sting of weaker economic growth worldwide. Measures of factory activity increasingly look mixed, with some still showing the pain caused earlier this year by a stronger dollar hurting exports and lower oil prices leading to cutbacks in orders for equipment and pipelines. — ASSOCIATED PRESS
OIL
Chevron presses on with Kazakhstan project
Chevron Corp. will go ahead with the $36.8 billion expansion of the Tengiz oil project in Kazakhstan, one of the biggest new investments since crude’s slump two years ago. The company and its partners, including Exxon Mobil Corp., will spend $27.1 billion on facilities, $3.5 billion on wells, and $6.2 billion for contingency and escalation, Chevron said in a statement on Tuesday. The first oil from the expanded project is planned for 2022. The Tengiz expansion comes after oil explorers around the globe slashed more than $1 trillion in investments to weather a downturn that saw oil prices tumble 75 percent from June 2014 to a 12-year low in January. The slump has reduced prices of some services and rigs required for drilling and Chevron said it’s taking advantage of that. — BLOOMBERG NEWS
TRAVEL
New scanners coming to airports
Federal officials said Tuesday that they are expanding tests to speed up airport lines and improve security. In a first in the United States, the Transportation Security Administration said Tuesday that it plans to begin using computed-tomography, or CT scanners, to inspect carry-on bags at one checkpoint in the Phoenix airport by the end of the year. CT scanners are already used to screen checked baggage. The process is mostly automated — the scanners generate 3-D images that are analyzed by computers. Security workers only check a bag if something is suspicious. The use of CT technology at airport checkpoints would eliminate the need for screeners to examine X-ray images of every bag. It could also let travelers leave liquids and laptops in their carry-on bags. — ASSOCIATED PRESS
FINANCE
UK funds freeze assets
Three of the United Kingdom’s largest real estate funds have frozen almost 9.1 billion pounds ($12 billion) of assets after Britain’s shock vote to leave the European Union sparked a flurry of redemptions. M&G Investments, Aviva Investors, and Standard Life Investments halted withdrawals because they don’t have enough cash to immediately repay investors. About 24.5 billion pounds is allocated to UK real estate funds, according to the Investment Association. “The dominoes are starting to fall in the UK commercial property market,’’ said Laith Khalaf, a senior analyst at Hargreaves Lansdown. “The problem these funds face is that it takes time to sell commercial property to meet withdrawals, and the cash buffers built up by the managers have been eroded by investors heading for the door.’’ — BLOOMBERG NEWS
TECHNOLOGY
The classic Blackberry reaches its end
BlackBerry Ltd. will no longer manufacture the BlackBerry Classic, an updated model of the beloved original that made the company a smartphone leader before Apple Inc. and Samsung Electronics Co. dethroned it. Chief executive John Chen introduced the Classic after joining the company in 2013, bringing back the raised-button keyboard that BlackBerry enthusiasts loved, and which his predecessor, Thorsten Heins, let fall by the wayside with his push to full touch-screen devices. The decision to end production of the Classic is one step further toward eliminating the BB10 operating system, which will now only be running on the Passport model, in a pivot to newer phones running on the Android platform. Chen is also increasingly focused on software, as revenue from handsets has declined during the past two years. In the latest fiscal quarter, BlackBerry sold 500,000 devices, compared with 600,000 in the previous quarter. — BLOOMBERG NEWS
TRADEMARKS
In Europe, McDonald’s keeps ‘Mac’ and “Mc’
McDonald’s has won a case in a European court that could prevent another company from using any combination of the terms ‘‘Mac’’ or ‘‘Mc’’ to sell food or drinks. The ruling came after the US fast-food giant tried to stop Singapore’s Future Enterprises from registering MACCOFFEE as a European Union trademark. In an appeal by Future Enterprises, the General Court ruled Tuesday that the use of MACCOFFEE would take unfair advantage of the reputation of McDonald’s trademarks. The court believes the general public sees ‘‘Mac’’ and ‘‘Mc’’ as almost the same thing and could mentally link the products. It acknowledged that the food and drink may be different, but that all are likely to be found in fast-food restaurants. — ASSOCIATED PRESS