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Delta cancels all Israel flights over missile fear

Jul 22, 2014

By The Associated Press

Delta Air Lines is canceling all flights to Israel until further notice, citing reports that a rocket landed near Tel Aviv's Ben Gurion Airport.

A Delta Boeing 747 from New York was flying over the Mediterranean headed for Tel Aviv on Tuesday when it turned around and flew ...

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Federal appeals court deals blow to health law

Jul 22, 2014

WASHINGTON (AP) — A federal appeals court delivered a serious setback to President Barack Obama's health care law Tuesday, potentially derailing billions of dollars in subsidies for many low- and middle-income people who bought policies.

In a case before the U.S. Court of Appeals for the District of ...

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US stocks climb as earnings reports roll in

Jul 22, 2014

By MATTHEW CRAFT, AP Business Writer

NEW YORK (AP) — Solid earnings for a range of companies helped nudge the stock market higher in early Tuesday trading. The restaurant chain Chipotle and Comcast, the giant cable company, surged after reporting better results than Wall Street expected.

KEEPING ...

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US home sales increase 2.6 percent in June

Jul 22, 2014

WASHINGTON (AP) — Sales of previously owned homes rose for a third straight month in June, pushing activity to the highest level in eight months and providing evidence that housing is regaining lost momentum.

The National Association of Realtors says that sales of existing homes increased 2.6 ...

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Stocks open higher; Comcast, Lockheed gain

Jul 22, 2014

NEW YORK (AP) — U.S. stocks are moving higher in early trading as more companies turn in solid earnings reports.

Comcast rose 1.3 percent after reporting higher profits than investors were expecting. The giant cable TV company signed up more subscribers for Internet service.

Defense contractor ...

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Saudi stock market to allow foreign investment

Jul 22, 2014

RIYADH, Saudi Arabia (AP) — Saudi Arabia's Cabinet has approved opening the country's stock market to foreign investors next year.

The Cabinet decision late Monday paves the way for foreign financial institutions to directly buy and sell stocks listed on Saudi Arabia's $530 billion Tadawul All ...

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Credit Suisse in steep loss after US tax case

Jul 22, 2014

GENEVA (AP) — Credit Suisse, Switzerland's second-biggest bank, posted a second-quarter net loss of 700 million Swiss francs ($779 million) Tuesday after paying the largest penalty ever imposed in a U.S. criminal tax case.

The steep loss contrasted sharply with the profit of 1.045 billion francs ...

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Comcast 2Q earnings top views on Internet hookups

Jul 22, 2014

PHILADELPHIA (AP) — Comcast Corp.'s second-quarter net income rose 15 percent to nearly $2 billion as it added high-speed Internet customers at a faster pace than a year ago and video subscriber losses moderated.

The nation's largest cable provider said Tuesday that net income rose to $1.99 ...

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Amid sanctions, France in warship sale to Russia

Jul 22, 2014

PARIS (AP) — French President Francois Hollande is defending plans to deliver a warship to Russia, despite calls for a European arms embargo against Moscow over the fighting in Ukraine.

European Union foreign ministers are meeting Tuesday in Brussels, with some calling for tougher sanctions ...

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CIT Group buying OneWest Bank in $3.4B deal

Jul 22, 2014

NEW YORK (AP) — CIT Group is buying regional bank OneWest Bank in a $3.4 billion cash-and-stock deal.

OneWest, whose parent company is IMB Holdco LLC, runs 73 retail branches in southern California. The bank is privately owned.

IMB shareholders will receive $2 billion in cash and 31.3 million CIT ...

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US job-training review emphasizes data, employers

Jul 22, 2014

WASHINGTON (AP) — A six-month review of federal job-training programs concludes that the government needs to better engage U.S. employers, improve the use of data, and boost apprenticeship programs so workers can earn while they train.

The White House is releasing the results of a report developed ...

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Detroit retirees back pension cuts by a landslide

Jul 22, 2014

DETROIT (AP) — A year after filing for bankruptcy, Detroit is building momentum to get out, especially after workers and retirees voted in favor of major pension changes just a few weeks before a judge holds a crucial trial that could end the largest public filing in U.S. history.

Pension cuts were ...

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Oil gains further on concerns over Ukraine, Gaza

Jul 22, 2014

By The Associated Press

The price of oil rose above $103 a barrel Tuesday on persisting jitters over the situation in Gaza and the standoff over the shooting down of a Malaysian airliner in Ukraine.

U.S. benchmark crude for September delivery was up 21 cents to $103.06 a barrel at 0615 GMT in ...

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Asia shares rise as Ukraine plane tensions ease

Jul 22, 2014

By ELAINE KURTENBACH, AP Business Writer

TOKYO (AP) — Asian shares rose Tuesday as tensions over the downing of a passenger jet in Ukraine eased after pro-Moscow separatists released a train packed with bodies and handed over the aircraft's black boxes.

Hong Kong's Hang Seng added 1.2 percent to ...

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China orders nationwide probe of meat supplier

Jul 21, 2014

By JOE McDONALD, AP Business Writer

BEIJING (AP) — China's food safety agency on Tuesday announced a nationwide inspection of processing factories and meat suppliers used by a company accused of selling expired beef and chicken to McDonald's and KFC.

The weekend report by a Shanghai TV station that ...

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Rebels release train with bodies from downed jet

Jul 21, 2014

By NICOLAS GARRIGA and NICOLAE DUMITRACHE, Associated Press

HRABOVE, Ukraine (AP) — Bowing to international pressure, pro-Moscow separatists released a train packed with bodies and handed over the black boxes from the downed Malaysia Airlines plane, four days after it plunged into rebel-held eastern ...

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US stock slip to start the week; Six Flags sinks

Jul 21, 2014

By MATTHEW CRAFT, AP Business Writer

NEW YORK (AP) — The stock market started the week with a slight loss on Monday as investors weighed a mixed batch of corporate earnings against mounting political turmoil.

European leaders are considering tougher sanctions on Russia for its backing of ...

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German supermarket tycoon Albrecht dead at 94

Jul 21, 2014

By DAVID RISING, Associated Press

BERLIN (AP) — Karl Albrecht, co-founder of the Aldi grocery store empire and one of the world's richest people, has died in the western German city of Essen. He was 94.

Essen's city hall told The Associated Press that Albrecht was buried Monday in a family plot in ...

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US stocks slip following mixed company earnings

Jul 21, 2014

NEW YORK (AP) — Stocks are moving lower as U.S. companies turn in mixed quarterly results and as investors worry about tensions with Russia over the downed airliner in Ukraine.

Hasbro fell 2 percent in midday trading Monday after the toy maker reported second-quarter earnings and revenue that fell ...

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Verizon launches rewards program with tracking

Jul 21, 2014

By PETER SVENSSON, AP Technology Writer

NEW YORK (AP) — Verizon Wireless is launching a nationwide loyalty program this week for its 100-million-plus subscribers. There's a twist, though: To earn points for every dollar spent, subscribers must consent to have their movements tracked so the company ...

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