Qwest Communications International Inc. is sacrificing its yellow pages business, a key revenue generator, to help the heavily indebted communications giant's new management team stave off bankruptcy.

        Cash raised from the $7 billion deal, announced Tuesday, to sell the QwestDex directory business to a group of financiers will be used to pay down some of the company's $26.6 billion in debt.

        Under the deal, QwestDex will be sold to the Carlyle Group and Welsh, Carson, Anderson and Stowe in a two-stage process designed to speed cash to Qwest.

U.S. trade deficit drops to $37.2B

        The U.S. trade deficit dipped slightly to $37.2 billion in June as a big jump in sales of American exports from corn to computer chips helped offset record demand by American consumers for foreign-made products, the federal government reported on Tuesday.

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