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Yahoo director on hot seat to leave board

May 8, 2012

By MICHAEL LIEDTKE, Associated Press

SAN FRANCISCO (AP) — The flap over a bogus college degree on Yahoo CEO Scott Thompson's official biography has claimed its first casualty — the director who led the committee that hired him four months ago.

Patti Hart will surrender her Yahoo board seat at the ...

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Disney looks to avenge studio loss after upbeat 2Q

May 8, 2012

By RYAN NAKASHIMA, Associated Press

LOS ANGELES (AP) — The Walt Disney Co. is looking to avenge the loss it took on the blockbuster bomb "John Carter." What better way than to ramp up its investment in the superhero franchise "The Avengers."

Disney said Tuesday that its net income in the first ...

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Plans for Mass. casino near Patriots' home halted

May 8, 2012

By BRIDGET MURPHY, Associated Press

BOSTON (AP) — Plans to bring a $1 billion resort-style casino to the New England Patriots' hometown have been suspended, Las Vegas casino developer Steve Wynn and the team's owner said Tuesday.

The announcement by The Kraft Group and Wynn Resorts came a day ...

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Hobbs, NM, picked as site of scientific ghost town

May 8, 2012

By JERI CLAUSING, Associated Press

ALBUQUERQUE, N.M. (AP) — A scientific ghost town in the heart of southeastern New Mexico oil and gas country will hum with the latest next-generation technology — but no people.

A $1 billion city without residents will be developed in Lea County near Hobbs,

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GOP blocks Senate debate on Dem student loan bill

May 8, 2012

By ALAN FRAM, Associated Press

WASHINGTON (AP) — Senate Republicans blocked a Democratic bill Tuesday to preserve low interest rates for millions of college students' loans, as the two parties engaged in election-year choreography aimed at showing each is the better protector of families in ...

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Wendy's cuts 2012 forecast, citing higher costs

May 8, 2012

By CANDICE CHOI and MICHELLE CHAPMAN, Associated Press

NEW YORK (AP) — The Wendy's Co. on Tuesday reported a first-quarter profit that missed Wall Street expectations and cut its forecast for the year, as the hamburger chain struggled in its revival efforts amid higher costs for fresh beef and ...

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Gov't watchdog urges stronger air safety oversight

May 8, 2012

By JOAN LOWY, Associated Press

WASHINGTON (AP) — In an unusual public rebuke, a government watchdog charged Tuesday that airline safety regulators have lagged in responding to urgent safety problems, including takeoff and landing procedures at one airport that caused some planes to nearly collide.

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Turmoil in Europe pushes stocks lower in US

May 8, 2012

By DANIEL WAGNER, Associated Press

Political uncertainty in debt-hobbled Europe spread to financial markets Tuesday and pushed stocks lower in Europe and the United States.

The Dow Jones industrial average was down almost 200 points at its low point for the day before recovering most of its loss ...

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Gas price likely won't set record this summer

May 8, 2012

By CHRIS KAHN, Associated Press

NEW YORK (AP) — Gasoline prices likely won't set any records this summer, thanks to a recent drop in the price of oil.

The government on Tuesday slashed its forecast for average gas prices to $3.79 per gallon for the summer driving season. That's down from an ...

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FDA review favors first drug for HIV prevention

May 8, 2012

By MATTHEW PERRONE, Associated Press

WASHINGTON (AP) — A pill that has long been used to treat HIV has moved one step closer to becoming the first drug approved to prevent healthy people from becoming infected with the virus that causes AIDS.

The Food and Drug Administration said Tuesday that ...

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Oil falls to near $96 as US crude supplies grow

May 8, 2012

By ALEX KENNEDY, Associated Press

SINGAPORE (AP) — Oil prices fell to near $96 a barrel Thursday in Asia after U.S. crude supplies rose to a 22-year high, suggesting demand remains weak.

Benchmark oil for June delivery was down 43 cents to $96.38 a barrel at late afternoon Singapore time in ...

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Chase launches new alternative to checking account

May 8, 2012

NEW YORK (AP) — Chase is launching a new prepaid card designed to be an alternative to a checking account as banks try to recoup fees they've lost under recent regulatory changes.

The New York company says the reloadable Chase Liquid card is available at 200 branches, and will expand nationwide ...

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Ford to boost factory output by 40,000 vehicles

May 8, 2012

By TOM KRISHER, Associated Press

DETROIT (AP) — Rising car and truck sales have prompted Ford Motor Co. to add a week of production at 13 North American factories so the company can make another 40,000 vehicles this year.

Ford said Tuesday that it would cut in half the normal two-week summer ...

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Liberty to boost stake in Sirius XM to 45 pct

May 8, 2012

LOS ANGELES (AP) — Billionaire John Malone's Liberty Media Corp. said Tuesday that it will spend $650 million to increase its effective control of satellite radio company Sirius XM Radio Inc. to 45.2 percent.

The company made the announcement upon the release of its first-quarter earnings results.

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BofA initiates home loan modification offers

May 8, 2012

By ALEX VEIGA, Associated Press

LOS ANGELES (AP) — Homeowners with a Bank of America mortgage have good reason to check their mailbox.

The lender said Tuesday it has begun mailing out letters to customers who may qualify to have their home loans reduced as part of a multistate settlement over ...

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FTC seeking $52.6M for alleged bogus phone charges

May 8, 2012

By MARCY GORDON, Associated Press

WASHINGTON (AP) — Federal regulators are seeking $52.6 million from a billing company that they accuse of adding unauthorized charges to consumers' phone bills.

The Federal Trade Commission announced Tuesday it has asked a federal court to issue a civil contempt ...

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Obama's 'To Do' List For Congress

May 8, 2012

By KEN THOMAS, Associated Press

ALBANY, N.Y. (AP) — President Barack Obama said Tuesday that only Congress can take the "bold action" needed to spur job creation, as he unfurled an election year "to do" list for lawmakers.

Obama's action plan for Congress centers on a series of economic ...

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Crisis threatens Europe's storied way of life

May 8, 2012

By KARL RITTER, Associated Press

Elections in France and Greece reflect the anger and disillusionment coming to the surface across Europe as an entire way of life is challenged. The European landscape is undergoing profound change — from its sophisticated lifestyle to its cherished welfare ...

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Salazar approves Utah gas wells

May 8, 2012

By PAUL FOY, Associated Press

SALT LAKE CITY (AP) — U.S. Interior Secretary Ken Salazar on Tuesday announced the approval of a major natural gas drilling project in Utah that the Obama administration says will support more than 4,000 jobs during its development while safeguarding critical wildlife ...

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McDonald's April Sales Miss expectations

May 8, 2012

OAK BROOK, Ill. (AP) — McDonald's Corp. said Tuesday that a key revenue figure rose in April as strength in the U.S. and parts of Europe helped offset weakness in Japan. But the results fell short of Wall Street expectations and the fast food chain's own guidance.

Although McDonald's has ...

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