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Wal-Mart jumps into the money transfer biz, loudly

Apr 17, 2014

By ANNE D'INNOCENZIO, AP Retail Writer

NEW YORK (AP) — Wal-Mart is offering another incentive to its customers to spend more time at its stores.

The world's largest retailer introduced a new money transfer service Thursday that it says will cut fees by up to 50 percent compared with similar ...

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Italy again pushes back balanced budget goal

Apr 17, 2014

ROME (AP) — Italy has again pushed back its balanced-budget goal, now aiming for 2016.

Finance Minister Pier Carlo Padoan wrote to the European Commission this week, saying that because of Italy's stubborn economic crisis, it's now aiming for a balanced structural budget in 2016. In 2011,

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Bailed-out Cyprus to test bond market in June

Apr 17, 2014

NICOSIA, Cyprus (AP) — Bailed-out Cyprus says it will issue six-year government bonds every month starting in June as a first step to returning more permanently to international markets after a three-year absence.

Investor interest in European government debt has risen in recent months, reducing ...

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Stocks edge lower after Google, IBM earnings

Apr 17, 2014

By ALEX VEIGA, AP Business Writer

Stocks edged lower in midday trading on Thursday as investors digested a crop of mixed company earnings. Among the stocks weighing down the market were Google, IBM and insurers UnitedHealth and WellPoint. The decline came after three days of broad market gains.

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Tiny power plants hold promise for nuclear energy

Apr 17, 2014

By LORI HINNANT, Associated Press

PARIS (AP) — Small underground nuclear power plants that could be cheaper to build than their behemoth counterparts may herald the future for an energy industry under intense scrutiny since the Fukushima disaster, the incoming head of the Nuclear Energy Agency told ...

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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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Chipotle sales surge as it draws more customers

Apr 17, 2014

NEW YORK (AP) — Mexican food chain Chipotle reported a higher quarterly profit Thursday as more customers flocked to its restaurants for burritos, bowls and tacos.

The Denver-based chain's popularity has kept growing because people like that they can pick what toppings to put on their orders as ...

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Average US 30-year mortgage rate falls to 4.27 pct

Apr 17, 2014

WASHINGTON (AP) — Average U.S. rates on fixed mortgages fell this week for the second straight week as the spring home-buying season begins.

Mortgage buyer Freddie Mac said Thursday that the average rate for the 30-year loan fell to 4.27 percent from 4.34 percent last week. The average for the ...

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Union Pacific railroad's 1Q profit up 14 percent

Apr 17, 2014

By JOSH FUNK, AP Business Writer

OMAHA, Neb. (AP) — The harsh winter didn't keep Union Pacific railroad from delivering 14 percent higher quarterly profit as it hauled more agricultural, industrial and coal shipments.

The Omaha, Neb., based railroad said Thursday that it generated $1.09 billion in ...

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Philip Morris Int'l 1Q profit falls nearly 12 pct

Apr 17, 2014

By MICHAEL FELBERBAUM, AP Tobacco Writer

RICHMOND, Va. (AP) — Philip Morris International's first-quarter profit dropped nearly 12 percent as cigarette sales fell in the overseas markets that it serves and it was hurt by foreign exchange rates for the U.S. dollar.

While adjusted earnings topped ...

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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.

THE RESULTS: Morgan Stanley earned $1.39 billion, up from $1.18 billion in the same ...

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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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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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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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