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Goldman's income falls 11 percent, but still beats

Apr 17, 2014

By STEVE ROTHWELL, AP Business Writer

NEW YORK (AP) — Goldman Sachs' earnings fell in the first quarter as bond trading slumped, but the results still came in ahead of what investors expected as other parts of the bank performed well.

EARNINGS AND REVENUE: The bank earned $1.95 billion in the ...

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Chipotle sales surge as it draws more customers

Apr 17, 2014

DENVER (AP) — Mexican food chain Chipotle's first-quarter net income rose 8 percent as higher costs offset a sales surge as more customers bought its burritos and other fare.

Chipotle Mexican Grill Inc.' popularity has grown because people see it as being a step up from traditional fast-food ...

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Mostly positive US earnings send stock futures up

Apr 17, 2014

The Associated Press

Stocks are headed for a fourth gain in a row after several big-name U.S. companies reported encouraging first-quarter results. PepsiCo and Goldman Sachs are among the companies reporting earnings that were better than investors were expecting.

KEEPING SCORE: Standard & Poor's ...

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Applications for US jobless aid edge up to 304,000

Apr 17, 2014

By JOSH BOAK, AP Economics Writer

WASHINGTON (AP) — The number of people seeking U.S. unemployment benefits last week rose 2,000 to a seasonally adjusted 304,000. Jobless claims continue to be near pre-recession levels despite the slight increase.

The Labor Department said Thursday that the ...

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UnitedHealth's 1Q profit tumbles 8 percent

Apr 17, 2014

By TOM MURPHY, AP Business Writer

UnitedHealth Group's first-quarter net income slid 8 percent as funding cuts to a key product and costs imposed by the health care overhaul dented the health insurer's performance.

The Minnetonka, Minn., company said Thursday the overhaul and government budget cuts ...

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Morgan Stanley's income rose 18 percent

Apr 17, 2014

NEW YORK (AP) — Investment bank Morgan Stanley said Thursday that its first-quarter income rose 18 percent from a year ago, helped by higher earnings in its trading and merger and acquisitions advisory businesses.

Morgan Stanley earned $1.4 billion, up from $1.2 billion in the same period a year ...

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Tiny power plants hold promise for nuclear energy

Apr 17, 2014

PARIS (AP) — Tiny nuclear power plants that could be far cheaper to build than their behemoth counterparts could herald the future for an energy industry that has come under scrutiny since the Fukushima disaster.

William Magwood, the incoming head of the Nuclear Energy Agency, tells The Associated ...

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Britain's Co-op posts loss in 'disastrous' year

Apr 17, 2014

LONDON (AP) — The Co-operative Group, Britain's largest mutual society, on Thursday posted a 2.5 billion-pound ($3.04 billion) loss for 2013, a year its chief executive called "disastrous."

The Co-op is owned by its 7 million members and is active in everything from food to funerals to financial ...

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Ford to sell Lincoln cars in China for first time

Apr 17, 2014

BEIJING (AP) — Ford Motor Co. said Thursday it will sell high-end Lincoln cars in China for the first time later this year when it opens eight dealerships in seven cities.

Lincoln is a late comer to China's luxury car market, but Robert Parker, president of Lincoln China, said the brand is being ...

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Oil price flat as supplies offset Ukraine jitters

Apr 17, 2014

By The Associated Press

Oil flat-lined Thursday as the upheaval in Ukraine continued to cancel out a big increase in U.S. oil supplies.

Benchmark U.S. crude for May delivery was up 1 cent at $103.77 a barrel at 0910 GMT in electronic trading on the New York Mercantile Exchange. The contract rose 1 ...

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World stocks subdued, Nikkei flat on profit taking

Apr 17, 2014

By KELVIN CHAN, AP Business Writer

HONG KONG (AP) — World stocks were subdued Thursday ahead of a long weekend for many markets, with Japan's Nikkei faltering as investors locked in profits after a strong rally.

Profit taking set in following a sharp rise in Tokyo the day before and as comments ...

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Servier, lab founder in drug scandal, dies at 92

Apr 17, 2014

PARIS (AP) — Jacques Servier, the founder of France's second-largest pharmaceutical group who became ensnared in a scandal over a diabetes drug widely used for weight loss, has died.

Servier Research Group announced the death of 92-year-old Servier late Wednesday.

Servier and his lab were at the ...

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Let's defend 'Obamacare,' some Democrats say

Apr 17, 2014

By CHARLES BABINGTON and RICARDO ALONSO-ZALDIVAR, Associated Press

WASHINGTON (AP) — Some Democrats say it's time to stop hiding from the president's health care overhaul — even in this year's toughest Senate elections — given that enrollments are higher than expected and costs are lower.

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Chinese auto brands limp into Beijing show

Apr 17, 2014

By JOE McDONALD, AP Business Writer

BEIJING (AP) — China's automakers are the underdogs heading into next week's Beijing auto show, where foreign and domestic brands will jostle for attention in a market that is increasingly difficult for homegrown models.

Facing intense competition from General ...

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Asia stocks fail to match Wall Street gains

Apr 16, 2014

By KELVIN CHAN, AP Business Writer

HONG KONG (AP) — Asian stock markets were mostly lower Thursday, with Japan's Nikkei leading the retreat as investors locked in profits after a strong rally.

Profit taking set in following a sharp rise in Tokyo the day before and as comments from the country's ...

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Pro-Russian gunmen make inroads in eastern Ukraine

Apr 16, 2014

By YURAS KARMANAU, Associated Press

SLOVYANSK, Ukraine (AP) — The well-armed, Moscow-backed insurgency sowing chaos in eastern Ukraine scored a new victory Wednesday, seizing armored vehicles and weapons from underequipped government forces, then rolling through two cities to a hero's welcome.

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Home sales of $10 million rise in Connecticut town

Apr 16, 2014

By JOHN CHRISTOFFERSEN, Associated Press

NEW HAVEN, Conn. (AP) — Connecticut's Gold Coast is living up to its name, with a record $120 million sale of a waterfront estate in Greenwich leading an increase in sales of homes for more than $10 million.

Five homes sold this year for more than $10 ...

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Hot models at this year's New York Auto Show

Apr 16, 2014

By DEE-ANN DURBIN, AP Auto Writer

NEW YORK (AP) — With more than 1 million visitors annually, the New York International Auto Show is one of the most important shows for the U.S. auto industry. Here are some of the vehicles debuting this year. The show opens to the public Friday.

ACURA TLX: Honda's ...

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Obama, Biden announce $600M for job grants

Apr 16, 2014

By DARLENE SUPERVILLE, Associated Press

OAKDALE, Pa. (AP) — Emphasizing skills training as key to a growing middle class, President Barack Obama on Wednesday announced $600 million in competitive grants to spur creation of targeted training and apprenticeship programs to help people land good-paying ...

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US stocks close higher for third day in a row

Apr 16, 2014

By ALEX VEIGA, AP Business Writer

Investors drove stock prices to their highest level in a week Wednesday, encouraged by a crop of corporate earnings and reassuring U.S. and Chinese economic data.

Major U.S. stock indexes notched their third day of gains in a row. Yahoo and Delta Air Lines were among ...

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