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Providence, RI, sues firms over stock trades

Apr 18, 2014

By The Associated Press

Providence, R.I., is suing dozens of Wall Street banks and other financial companies over high-frequency trading.

The federal complaint was filed Friday in New York on behalf of city investment funds that traded stocks in the U.S. since April 18, 2009.

It claims that stock ...

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Judge says American can't end retiree benefits yet

Apr 18, 2014

By DAVID KOENIG, AP Airlines Writer

DALLAS (AP) — A federal judge has rejected an attempt by American Airlines to quickly cut off benefits for many of its retirees.

American wants retirees who wish to keep their benefits to pay all the cost. Now the dispute could go to negotiations or a trial.

On ...

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US delays review of contentious Keystone pipeline

Apr 18, 2014

By JOSH LEDERMAN and DINA CAPPIELLO, Associated Press

WASHINGTON (AP) — The Obama administration is putting off its decision on the controversial Keystone XL oil pipeline, likely until after the November elections, indefinitely extending its review of the project.

In a surprise announcement Friday as ...

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US newspaper industry revenue fell 2.6 pct in 2013

Apr 18, 2014

NEW YORK (AP) — U.S. newspaper industry revenue fell last year, as increases in circulation revenue weren't high enough to make up for shrinking demand for print advertising, an industry trade group said Friday.

The Newspaper Association of America said revenue fell 2.6 percent to $37.6 billion in ...

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Court declines to block drug ruling in patent case

Apr 18, 2014

By SAM HANANEL, Associated Press

WASHINGTON (AP) — Supreme Court Chief Justice John Roberts on Friday declined to temporarily block a lower court ruling that opens the world's best-selling multiple sclerosis drug to competition from generic rivals next month.

The decision is a victory for rivals ...

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Boston prepares for huge wave of marathon visitors

Apr 18, 2014

By PHILIP MARCELO, Associated Press

BOSTON (AP) — With an expanded field of runners and the memory of last year's bombings elevating interest in one of the world's great races, the 2014 Boston Marathon could bring an unprecedented wave of visitors and an influx of tourism dollars to the area.

Race ...

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5 features an Amazon phone might offer

Apr 18, 2014

By MAE ANDERSON, AP Business Writer

NEW YORK (AP) — Rumors of an Amazon smartphone reached a fever pitch this week, with the Wall Street Journal reporting that the device could be due out this year.

Amazon hasn't confirmed that it has plans for a smartphone, and it isn't clear what such a device ...

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Appeals court rejects challenge on cement plants

Apr 18, 2014

WASHINGTON (AP) — A federal appeals court on Friday turned aside a challenge by environmental groups to an air pollution standard for cement plants.

In a 3-0 decision, the appeals court said the emissions-related provisions of the Environmental Protection Agency standard are permissible.

The ...

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French President Hollande's top aide resigns

Apr 18, 2014

PARIS (AP) — The French president's top adviser resigned Friday following allegations of a past conflict of interest, striking a new blow to the already unpopular Francois Hollande.

Aquilino Morelle —Hollande's political adviser and head of his communication staff — had denied allegations by the ...

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Chobani to expand offerings amid competition

Apr 18, 2014

NEW YORK (AP) — Chobani plans to expand beyond its Greek yogurt cups this summer as it faces intensifying competition in the fast growing category.

Starting in July, the company plans to offer Chobani Oats, which is yogurt mixed with fruit and oats; a dessert called Chobani Indulgent and new ...

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Asia stocks rise in abbreviated trading

Apr 18, 2014

BEIJING (AP) — Asian stocks were mostly higher in trading muted by Good Friday observance.

Markets in Europe, the U.S. and many countries in Asia were closed for the holiday. Oil trading also was suspended.

Among the markets that traded, Tokyo's Nikkei 225 gained 0.7 percent to 14,516.27 while ...

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Brewers seeks to rekindle Belgium's love of beer

Apr 18, 2014

By RAF CASERT, Associated Press

DWORP, Belgium (AP) — The ruby lettering on the front of the old corner pub "In de Welkom" has peeled almost beyond recognition. Owner Leza Wauters, a tough 87-year-old, is holding on to her business but can't say how much longer. Sooner or later, yet another bar with ...

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Late sign-ups improve outlook for Obama health law

Apr 18, 2014

By RICARDO ALONSO-ZALDIVAR and JOSH LEDERMAN, Associated Press

WASHINGTON (AP) — The outlook for President Barack Obama's health care law is getting better, with more people enrolled overall and a much-needed surge of interest among young adults.

The president announced Thursday that 8 million have ...

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Asian stocks mostly higher after mixed US earnings

Apr 17, 2014

BEIJING (AP) — Asian stocks were mostly higher Friday despite mixed U.S. earnings reports with many of the region's exchanges closed for Good Friday.

Oil trading also was suspended for the holiday.

Tokyo's Nikkei 225 gained 0.6 percent to 14,504.47. China's benchmark Shanghai Composite Index shed ...

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IRS audits less than 1 percent of big partnerships

Apr 17, 2014

By STEPHEN OHLEMACHER, Associated Press

WASHINGTON (AP) — The Internal Revenue Service audits fewer than 1 percent of large business partnerships, according to a government report released Tuesday.

That means some of Wall Street's largest hedge funds and private equity firms are largely escaping ...

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Judge wants Detroit mayor to back bankruptcy plan

Apr 17, 2014

By ED WHITE, Associated Press

DETROIT (AP) — Looking years ahead, the judge overseeing Detroit's bankruptcy said Thursday he wants assurances from the mayor and other elected leaders that they'll follow a final plan that likely cuts pensions, sheds debt and plows millions into better services.

The ...

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US stock market ends higher as earnings pour in

Apr 17, 2014

By ALEX VEIGA, AP Business Writer

A batch of U.S. company earnings drove stocks mostly higher on Thursday.

The major stock indexes shifted between small gains and losses ahead of their scheduled close for Good Friday. The gains kept the indexes ahead for the week, though the remained down for the ...

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President defending health law good for some Dems

Apr 17, 2014

By CHARLES BABINGTON and RICARDO ALONSO-ZALDIVAR, Associated Press

WASHINGTON (AP) — President Barack Obama's full-throated defense of his health care overhaul seems perfectly timed for Democrats who want their party to embrace the law more enthusiastically.

At a White House news conference Thursday,

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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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BNSF outlines fertilizer shipment plan to feds

Apr 17, 2014

By JAMES MacPHERSON, Associated Press

BISMARCK, N.D. (AP) — BNSF Railway Co. will add trains in the Dakotas, Minnesota and Montana solely for transporting fertilizer for spring crop planting, the railroad has told a federal oversight board.

"Simply put, we are working to deliver high volumes of ...

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