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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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Credit Suisse has $779M loss in 2Q due US tax case

Jul 22, 2014

GENEVA (AP) — Credit Suisse AG has posted a second-quarter net loss of 700 million Swiss francs ($779 million) after paying the largest penalty ever imposed in a U.S. criminal tax case.

Switzerland's second-biggest bank calls the steep loss, a striking contrast to its 1.045 billion francs ($1.16 ...

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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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Comic-Con offers toy designers a chance to go wild

Jul 21, 2014

By DERRIK J. LANG, AP Entertainment Writer

LOS ANGELES (AP) — When it comes to designing the highly coveted collectible toys for sale at Comic-Con, the annual celebration of pop culture lifting off Thursday in San Diego, the sky's the limit for the designers at Mattel. Fittingly, the building where ...

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Tesco chief Philip Clarke to step down

Jul 21, 2014

LONDON (AP) — Tesco says Chief Executive Officer Philip Clarke will be stepping down after the latest earnings figures showed Britain's largest retailer by revenue struggled at home.

Tesco announced Monday that Dave Lewis, currently an executive at Unilever, would become CEO in the fall after the ...

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Q&A: How Malaysia Airlines can salvage its brand

Jul 20, 2014

By The Associated Press

Malaysia Airlines is in uncharted territory after the disappearance of Flight 370 in March with 239 people aboard was followed this week by the downing of another of its jets, carrying 298 people, over Ukraine.

Before the disasters the carrier had among the worst financial ...

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Bodies from downed jet piled in boxcars in Ukraine

Jul 20, 2014

By YURAS KARMANAU and PETER LEONARD, Associated Press

TOREZ, Ukraine (AP) — Pro-Moscow rebels piled nearly 200 bodies from the downed Malaysian jetliner into four refrigerated boxcars Sunday in eastern Ukraine, and cranes at the crash scene moved big chunks of the Boeing 777, drawing condemnation ...

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Distraught Dutch mother: 'Send my children home'

Jul 20, 2014

By MIKE CORDER, Associated Press

THE HAGUE, Netherlands (AP) — A distraught, grieving mother summed up a swelling mood of despair and anguish in the Netherlands on Sunday at faltering efforts to repatriate the bodies of loved ones killed in the downing of Malaysia Airlines Flight 17, appealing ...

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'Apes' outmuscles 'The Purge' at box office

Jul 20, 2014

By JAKE COYLE, AP Film Writer

NEW YORK (AP) — The summer box office continued to lack mojo, as the R-rated "Sex Tape" failed to turn on moviegoers over a weekend where "Dawn of the Planet of the Apes" maintained its rule.

20th Century Fox's science fiction sequel outmuscled a trio of new films to top ...

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Monitors try to secure Ukraine plane crash site

Jul 19, 2014

By PETER LEONARD and EVGENIY MALOLETKA, Associated Press

HRABOVE, Ukraine (AP) — International monitors moved gingerly Saturday through fields reeking of the decomposing corpses that fell from a Malaysian airliner shot down over rebel-held eastern Ukraine, trying to secure the sprawling site in ...

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Airlines symbolize nations' hopes or reflect shame

Jul 19, 2014

By SCOTT MAYEROWITZ, AP Airlines Writer

NEW YORK (AP) — The jetliner is much more than a machine used to get from one spot to another. It often carries deep symbolism, especially when flying for a national airline.

It can represent hope, modernity and a country's power. And when things go wrong, that ...

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Fla. jury slams RJ Reynolds with $23.6B in damages

Jul 19, 2014

By JENNIFER KAY, Associated Press

MIAMI (AP) — A Florida jury has slammed the nation's No. 2 cigarette maker, R.J. Reynolds Tobacco Co., with $23.6 billion in punitive damages in a lawsuit filed by the widow of a longtime smoker who died of lung cancer in 1996.

The case is one of thousands filed in ...

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DNA being collected to ID Ukraine crash victims

Jul 19, 2014

By MIKE CORDER, Associated Press

THE HAGUE, Netherlands (AP) — Forensic teams fanned out across the Netherlands on Saturday to collect material that will help positively identify the remains of victims killed in the downing of the Malaysia Airlines plane over Ukraine. Families and friends of the ...

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