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China meat scandal hits Starbucks, Burger King

Jul 22, 2014

By JOE McDONALD, AP Business Writer

BEIJING (AP) — A suspect meat scandal in China engulfed Starbucks and Burger King on Tuesday and spread to Japan where McDonald's said the Chinese supplier accused of selling expired beef and chicken had provided 20 percent of the meat for its chicken nuggets.

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Bond insurers vow to fight Detroit financial plan

Jul 22, 2014

DETROIT (AP) — Companies that insure Detroit's bonds are repeating their pledge to aggressively challenge the city's plan to get out of bankruptcy.

Results released Monday night show city workers and retirees voted in favor of pension cuts. But bond insurers say retirees are being given special ...

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Comcast 2Q earnings top views on Internet hookups

Jul 22, 2014

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

The nation's largest cable provider topped Wall Street estimates and shares edged up in afternoon trading.

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Airlines scrap Israel flights over missile fear

Jul 22, 2014

By The Associated Press

In a sign of increased caution about flying near combat zones, U.S. and European airlines halted flights to Israel Tuesday after a rocket landed near Tel Aviv's Ben Gurion Airport.

Delta Air Lines and United Airlines suspended service between the U.S. and Israel ...

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Saudi stock market to allow foreign investment

Jul 22, 2014

RIYADH, Saudi Arabia (AP) — The Saudi government has approved a measure that will open the region's largest stock market to direct foreign investment next year, news that sent the exchange surging Tuesday to its highest level in nearly seven years.

The Tadawul All Share Index closed up nearly 3 ...

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Obamacare hit by ruling, but subsidies to continue

Jul 22, 2014

WASHINGTON (AP) — President Barack Obama's health care law is enmeshed in another big legal battle after two federal appeals courts issued contradictory rulings on a key financing issue within hours of each other Tuesday.

A divided court panel in Washington called into question the subsidies that ...

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US job-training review emphasizes data, employers

Jul 22, 2014

WASHINGTON (AP) — As the U.S. economy adds new jobs, Americans must have the skills to fill those jobs, President Barack Obama said Tuesday.

Obama spoke at a signing ceremony for bipartisan job-training legislation aimed at improving business engagement and accountability in federally funded ...

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Contrarian's case: Why US could dip into recession

Jul 22, 2014

By BERNARD CONDON, AP Business Writer

NEW YORK (AP) — Just as the U.S. economy is strengthening, other countries are threatening to drag it down.

Employers in the U.S. are creating jobs at the fastest pace since the late 1990s and the economy finally looks ready to expand at a healthy rate. But ...

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Amid sanctions, France in warship sale to Russia

Jul 22, 2014

By SYLVIE CORBET

PARIS (AP) — France says it will go ahead with the sale of a warship to Russia despite calls for an arms embargo against the country, highlighting how Europe's strong business ties are hindering its ability to punish Moscow over the crisis in Ukraine.

Western powers say Russia is ...

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McDonald's profit slips; US sales decline

Jul 22, 2014

OAK BROOK, Ill. (AP) — McDonald's Corp. said its profit slipped in the second quarter as sales in the U.S. continued to flag.

The world's biggest hamburger chain has been struggling to boost sales in its flagship market amid intensifying competition, changing eating habits and the persistent ...

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Coke's sales miss estimates as Diet Coke flags

Jul 22, 2014

ATLANTA (AP) — Coca-Cola Co. reported sales that fell short of Wall Street estimates on Tuesday as demand weakened for Diet Coke in North America.

Globally, the world's biggest beverage maker, said sales volume rose 3 percent in the second quarter, boosted by gains in places including China, India ...

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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 said Tuesday that sales of existing homes increased ...

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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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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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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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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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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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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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