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Malaysia says jetliner did not make distress call

Jul 17, 2014

By EILEEN NG, Associated Press

KUALA LUMPUR, Malaysia (AP) — The Malaysia Airlines jetliner that went down in war-torn Ukraine did not make any distress call, Malaysia's prime minister said Friday, adding that its flight route also had been declared safe by the global civil aviation body.

Prime ...

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Google's 2Q revenue gains eclipse earnings miss

Jul 17, 2014

By MICHAEL LIEDTKE, AP Technology Writer

SAN FRANCISCO (AP) — Google's earnings rose modestly in the second quarter as the Internet company's expensive ambitions devoured most of a surprisingly strong gain in revenue.

The report released Thursday also showed that Google's advertising prices are still ...

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Senators call on GM CEO to fire top lawyer

Jul 17, 2014

By MARCY GORDON and DEE-ANN DURBIN, AP Business Writers

WASHINGTON (AP) — Lawmakers demanded General Motors fire its chief lawyer and do more to help crash victims as a Senate subcommittee delved deeper into GM's mishandling of the recall of small cars with defective ignition switches.

Thursday's ...

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For Malaysia Airlines, disaster strikes twice

Jul 17, 2014

By CHRIS BRUMMITT, Associated Press

HANOI, Vietnam (AP) — Two Boeing 777s. Two incredibly rare aviation disasters. And one airline.

In what appears to be a mind-boggling coincidence, Malaysia is reeling from the second tragedy to hit its national airline in less than five months.

On March 8, a ...

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Jet downing, weak earnings rattle stock market

Jul 17, 2014

By ALEX VEIGA, AP Business Writer

The downing of a passenger plane flying over Ukraine rattled U.S. financial markets Thursday, deepening a slide set off by a batch of disappointing company earnings and a weak home construction report.

All three major stock indexes ended lower for the first time in a ...

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Facebook tests 'Buy' button

Jul 17, 2014

By MAE ANDERSON, AP Retail Writer

NEW YORK (AP) — Facebook is testing a "Buy" button in its latest effort to help businesses boost their sales through the world's biggest online social network.

The company said in a statement Thursday that the button will let people buy products directly from ...

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Report: Labor force drop had pre-recession roots

Jul 17, 2014

By JIM KUHNHENN, Associated Press

WASHINGTON (AP) — Declaring the Great Recession only partly to blame, White House economists say the increasing number of Americans dropping out of the labor force dampens economic growth and demands policy changes that create more job opportunities and add workers.

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Jet downing, weak earnings rattle stock market

Jul 17, 2014

The Associated Press

Stocks are closing sharply lower as traders worried about an escalation of tensions between Russia and the West following the downing of a passenger plane in eastern Ukraine.

Traders were also unsettled by poor corporate earnings and a weak indicator for the housing market.

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Hard Rock Hotel & Casino to open at Lake Tahoe

Jul 17, 2014

By SCOTT SONNER, Associated Press

RENO, Nev. (AP) — The managers of the Hard Rock Hotel & Casino in Las Vegas have announced plans to open one at Lake Tahoe this winter after a $60 million renovation of the former Horizon Casino Resort at Stateline.

Officials for the Las Vegas-based Warner ...

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House passes tax breaks to boost charitable giving

Jul 17, 2014

By STEPHEN OHLEMACHER, Associated Press

WASHINGTON (AP) — The House passed a package of tax breaks Thursday designed to boost charitable donations by seniors, private foundations and procrastinators.

One provision provides tax breaks to people over 70 who make donations from their individual ...

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Senators call on GM CEO to fire top lawyer

Jul 17, 2014

By MARCY GORDON and DEE-ANN DURBIN, AP Business Writer

WASHINGTON (AP) — Lawmakers on Thursday demanded General Motors fire its chief lawyer and open its compensation plan to more potential victims as a Senate subcommittee delved deeper into GM's mishandling of the recall of small cars with ...

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Fiat denies merger talks with VW

Jul 17, 2014

By COLLEEN BARRY, AP Business Writer

MILAN (AP) — Italian automaker Fiat and its main shareholder denied on Thursday a media report that the company is in merger talks with rival Volkswagen. The German carmaker also said it had no plans for mergers or acquisitions.

Shares in Fiat briefly rose 5 ...

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Arabtec shares suspended on Dubai Financial Market

Jul 17, 2014

By AYA BATRAWY, Associated Press

DUBAI, United Arab Emirates (AP) — The Dubai Financial Market on Thursday suspended trading shares of the emirate's largest construction company, Arabtec Holding, after rumors swirled that the firm's biggest shareholder was in talks to sell off a large portion of his ...

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Morgan Stanley quarterly profit more than doubles

Jul 17, 2014

By MATTHEW CRAFT, AP Business Writer

NEW YORK (AP) — Morgan Stanley said Thursday that its quarterly profit more than doubled, thanks to strong performances from its investment banking and money-management units.

Second-quarter net income jumped to $1.88 billion from $900 million a year earlier,

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Japan approves joint missile study, export to US

Jul 17, 2014

By MARI YAMAGUCHI, Associated Press

TOKYO (AP) — Japan has approved the export of a locally-made component for a missile defense system to the U.S. and is launching joint research with Britain on air-to-air missile technology for fighter jets.

The approval late Thursday marks the first defense ...

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Factory growth fastest in 3 years in Philly region

Jul 17, 2014

By CHRISTOPHER S. RUGABER, AP Economics Writer

WASHINGTON (AP) — Manufacturing in the Philadelphia region surged in July, expanding at its fastest pace in more than three years, as new orders, shipments, and hiring all rose.

The Federal Reserve Bank of Philadelphia said Thursday that its index of ...

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Airbus beats Boeing at Farnborough in orders race

Jul 17, 2014

FARNBOROUGH, England (AP) — Airbus beat rival Boeing in the aircraft order stakes at this year's Farnborough International Airshow, garnering nearly twice as many orders and commitments.

Airbus said Thursday that its orders and commitments for 496 aircraft were valued at $75 billion. Demand for ...

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Microsoft to cut up to 18,000 jobs over next year

Jul 17, 2014

REDMOND, Wash. (AP) — Microsoft has announced the biggest layoffs in its history, saying it will cut up to 18,000 jobs or 14 percent of its staff as it works to cut down on management layers and integrate the Nokia cellphone business it bought in April.

The news sent Microsoft's stock up 3 percent ...

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Stocks edge lower in early trading; Mattel sinks

Jul 17, 2014

The Associated Press

Stocks are opening slightly lower following mixed news about the economy and the latest batch of corporate earnings.

The Standard & Poor's 500 index fell three points, or 0.2 percent, to 1,978 in the first few minutes of trading Thursday.

The Dow Jones industrial average fell ...

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Philip Morris Int'l 2Q profit falls 13 percent

Jul 17, 2014

NEW YORK (AP) — Philip Morris International's second-quarter profit declined 13 percent, stung by foreign exchange rates for the U.S. dollar.

But its adjusted profit and revenue topped Wall Street's view. Its shares edged up in morning trading Thursday.

The seller of Marlboro cigarettes and other ...

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