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Obama, Biden to announce $600M for job grants

Apr 16, 2014

By DARLENE SUPERVILLE, Associated Press

OAKDALE, Pa. (AP) — Striving to show action on jobs, President Barack Obama and Vice President Joe Biden are trumpeting $600 million in new competitive grants to spur creation of targeted training and apprenticeship programs that could help people land ...

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Toyota Camry gets a top-to-bottom makeover

Apr 16, 2014

By DEE-ANN DURBIN, AP Auto Writer

NEW YORK (AP) — Shaken by the advances of newer, sportier rivals, the Toyota Camry is trying to shed its vanilla reputation.

The redesigned 2015 Camry, unveiled Wednesday at the New York International Auto Show, is longer and wider, with a large, aggressive grille ...

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Some exempted from minimum wage, increased or not

Apr 16, 2014

WASHINGTON (AP) — Some workers won't benefit even if a long-shot Democratic proposal to raise the federal minimum wage becomes law.

That's because more than a dozen categories of jobs are exempt from the hourly minimum, currently $7.25.

Those exclusions run from some workers with disabilities to ...

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Former Anglo Irish Bank chairman cleared of fraud

Apr 16, 2014

By GREGORY KATZ, Associated Press

LONDON (AP) — A jury Wednesday cleared former Anglo Irish Bank chairman Sean FitzPatrick of all fraud charges related to a loans-for-shares scheme that preceded the bank's 2009 collapse.

The 65-year-old FitzPatrick had denied providing illegal financial help to ...

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US stocks rise, extending gains into third day

Apr 16, 2014

By ALEX VEIGA, AP Business Writer

Investors sent stock prices higher for a third day in a row Wednesday. Major U.S. indexes rose as more companies reported solid earnings and traders welcomed encouraging news about China's economy. Yahoo and Delta Air Lines were among the companies rising sharply in ...

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World stocks up on hopes Chinese slowdown is mild

Apr 16, 2014

The Associated Press

LONDON (AP) — World stock markets rose Wednesday after Chinese economic figures showed the slowdown in the first quarter was less severe than expected.

Investors took heart from the fact that the world's second-largest economy expanded 7.4 percent from a year earlier. While the ...

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Combat vehicles in east Ukraine fly Russian flag

Apr 16, 2014

By YURAS KARMANAU, Associated Press

SLOVYANSK, Ukraine (AP) — A column of armored vehicles flying Russian flags drove into a Ukrainian city controlled by pro-Russian insurgents Wednesday, dampening the central government's hopes of re-establishing control over restive eastern Ukraine.

Still, it was ...

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US factory output extended solid gains in March

Apr 16, 2014

By JOSH BOAK, AP Economics Writer

WASHINGTON (AP) — U.S. factory output rose further last month, extending strong growth from February after harsh weather had caused production to tumble in January. Manufacturers produced more furniture, clothing, chemicals and aerospace products.

The Federal ...

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US home building up in March after frigid winter

Apr 16, 2014

By PAUL WISEMAN, AP Economics Writer

WASHINGTON (AP) — U.S home construction rose moderately in March as builders resumed work at the end of a frigid winter. But applications for building permits slid, clouding the outlook for future construction.

Builders started work on 946,000 homes at a ...

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Ford to offer 50th anniversary Mustang

Apr 16, 2014

NEW YORK (AP) — Ford is building a limited-edition Mustang GT to honor the pony car's 50th anniversary.

The company will only build 1,964 special cars, honoring the year the Mustang first went on sale.

The 50 Year Limited Edition will come in one of the two colors of Ford's logo: white or blue.

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France targets welfare for big spending cuts

Apr 16, 2014

PARIS (AP) — France's prime minister has announced plans to cut 21 billion euros ($29 billion) from pensions, social care and health care as a part of a 50-billion-euro effort to rein in the country's debt and deficit.

Manuel Valls on Wednesday detailed the government plan to cut 10 billion euros ...

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Bank of America posts loss, hurt by legal expenses

Apr 16, 2014

CHARLOTTE, N.C. (AP) — Bank of America said Wednesday that it swung to a loss in the first quarter, hurt by $6 billion in legal expenses.

The Charlotte, N.C., bank reported a loss applicable to common shareholders of $514 million. That's compares with earnings of $1.11 billion a year earlier.

The ...

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UK: Ex-Co-op Bank chair charged with drug offenses

Apr 16, 2014

LONDON (AP) — Police have charged the former chairman of Britain's troubled Co-operative Bank with drug offenses.

Paul Flowers, a Methodist minister, resigned from the bank last year amid claims of drug use and inappropriate expenses payments.

He was arrested in November after a tabloid newspaper ...

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If filed, plane lawsuits might not get heard in US

Apr 16, 2014

By GILLIAN WONG, Associated Press

BEIJING (AP) — Since Malaysia Airlines Flight 370 went missing, some lawyers have claimed they can get several millions of dollars in damages for each lost passenger by taking the cases to the United States. But past lawsuits show U.S. federal courts are more likely ...

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UK unemployment down to 6.9 percent

Apr 16, 2014

LONDON (AP) — Britain's unemployment rate has fallen below 7 percent for the first time in five years, with earnings growth narrowly outstripping inflation.

The Office for National Statistics said Wednesday that 2.24 million people were unemployed in the three months to February, a rate of 6.9 ...

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Sub makes 2nd dive to search for Malaysian plane

Apr 16, 2014

By MARGIE MASON, Associated Press

PERTH, Australia (AP) — As a robotic submarine dove into the ocean to look for lost Flight 370, angry Chinese relatives stormed out of a teleconference meeting Wednesday to protest the Malaysian government for not addressing them in person.

The Bluefin 21 sub ...

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Credit Suisse profits down 34 percent

Apr 16, 2014

FRANKFURT, Germany (AP) — Swiss bank Credit Suisse says net profit fell 34 percent in the first quarter as bond-market woes hurt earnings at its investment banking business.

Profit fell to 859 million Swiss francs ($979 million) from 1.303 billion francs in the same quarter a year ago. Group core ...

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Detroit strikes 2nd deal with its other retirees

Apr 16, 2014

By ED WHITE, Associated Press

DETROIT (AP) — The city of Detroit reached tentative agreements to preserve pensions for retired police office and firefighters but cut monthly payments for other former employees, key deals that could accelerate the largest public bankruptcy in U.S. history, officials ...

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GM to ask bankruptcy court for lawsuit protection

Apr 15, 2014

By TOM KRISHER, AP Auto Writer

DETROIT (AP) — General Motors says it will ask a federal bankruptcy judge to shield the company from legal claims involving conduct before its 2009 bankruptcy.

The company revealed its strategy late Tuesday in a motion filed in a federal court case in Corpus Christi,

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China's growth slows to 24-year low of 7.4 percent

Apr 15, 2014

By JOE McDONALD, AP Business Writer

BEIJING (AP) — China's economic growth slowed to a 24-year low of 7.4 percent in the first quarter, raising the risk of job losses and a potential impact on its trading partners.

The figure reported Wednesday by the government was down from the previous quarter's ...

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