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Oreck files for Chapter 11 protection

NASHVILLE, May 8 (UPI) — Fifty-year-old U.S. vacuum cleaner maker Oreck Corp. has filed for Chapter 11 bankruptcy protection, court papers show. The company has been struggling to overcome turnover…

Miami Dolphins owner pledges to give away $2 billion

MIAMI, May 8 (UPI) — Miami Dolphins owner Steve Ross has pledged to give half his fortune of $4.4 billion to charity. He is now one of nine new members…

Lee refinances $94 million of long-term debt

DAVENPORT, Iowa (April 30, 2013) — Lee Enterprises, Incorporated (NYSE: LEE), a major provider of local news, information and advertising in 50 markets, has reached agreement with Berkshire Hathaway Inc.…

Google Glass stirring up a legal hornet’s next

MOUNTAIN VIEW, Calif., May 7 (UPI) — Google’s latest computerized device, the Google Glass, is likely to run into widespread legal challenges, attorneys and market observers say. The computer on…

Pfizer selling Viagra online

NEW YORK, May 7 (UPI) — U.S. pharmaceutical giant Pfizer said it is selling Viagra online to prevent consumers from buying potentially harmful counterfeits. Pfizer also said that each year…

Retail sales off slightly week to week

NEW YORK, May 7 (UPI) — U.S. retail receipts slipped 1 percent in the week ending Saturday, the International Council of Shopping Centers reported Tuesday. The ICSC-Goldman Sachs weekly sales…

Dow Jones industrial average at record close Tuesday

Dow Jones industrial average at record close Tuesday

NEW YORK, May 7 (UPI) — Investors in New York pushed the blue-chip Dow Jones industrial average to a record closing high Tuesday, as a six-month rally continued. The DJIA…

GM denies bailout funds went to China

DETROIT, May 6 (UPI) — General Motors on Monday refuted a columnist’s claims that its operations in China benefited from the U.S. taxpayer-funded bailout. “Speculation over the possible loss of…

Chinese no longer buying mutton for fear that it may turn out to be rat, fox or mink meat

SHANGHAI, May 6 (UPI) — Chinese consumers are buying less mutton from produce markets over fears it may turn out to be rat, fox or mink meat, a meat supplier…

Bank of America to pay MBIA $1.6 billion

Bank of America to pay MBIA $1.6 billion

NEW YORK, May 6 (UPI) — Bank of America says it has agreed to pay U.S. bond insurance firm MBIA $1.6 billion to settle complex mortgage securities issues. The dispute…

Walmart back atop Fortune 500 list; Exxon Mobil now No. 2

Walmart back atop Fortune 500 list; Exxon Mobil now No. 2

NEW YORK, May 6 (UPI) — Retail chain Walmart retook its spot at the top of the Fortune 500 list of the largest U.S. companies, the magazine said Monday. Fortune…

Markets close mixed

NEW YORK, May 6 (UPI) — U.S. stock markets closed mixed Monday. The Dow Jones industrial average shed 5.07 points or 0.03 percent to 14,968.89. The S&P index added 3.08…

Sen. Durbin says preserve basics of immigration reform plan

WASHINGTON, May 5 (UPI) — A leading Democrat in the U.S. Senate said the bones of an immigration reform bill will remain in place despite some anticipated tweaks. Senate Majority…

West, Texas, fertilizer plant had only $1 million liability coverage

WEST, Texas, May 5 (UPI) — The fertilizer plant where an explosion killed 15 people in Texas carried $1 million in liability insurance, a fraction of the cost of damage,…

Abbas to ask for Chinese help with economy

BEIJING, May 5 (UPI) — Palestinian President Mahmoud Abbas arrived Sunday in China, saying he planned to ask China to help the Palestinian economy. Before his visit, Abbas told China’s…

Caterpillar to lay off 300 in Decatur, Ill.

PEORIA, Ill., May 4 (UPI) — Caterpillar Inc. says it will lay off another 300 workers at its Decatur, Ill., factory by the middle of the summer. The announcement Friday…

Mountain Dew drops Lil Wayne over Emmett Till lyric

PURCHASE, N.Y., May 3 (UPI) — Soft drink brand Mountain Dew said Friday it cut ties with U.S. hip-hop artist Lil Wayne because one of his lyrics defiled civil rights…

Judge approves $2.43 billion Bank of America settlement

Judge approves $2.43 billion Bank of America settlement

NEW YORK, May 4 (UPI) — A federal judge in New York approved a $2.43 billion settlement to end claims Bank of America misled shareholder when it purchased Merrill Lynch…

Chrysler to recall 4,783 cars in China

BEIJING, May 4 (UPI) — U.S. automaker Chrysler is preparing to recall 4,783 Compass and Patriot model cars in China due to fuel tank problems, a Chinese government agency said.…

U.S. Cellular joins the iPhone crowd

CUPERTINO, Calif., May 4 (UPI) — U.S. Cellular is the latest cellphone company to carry the Apple smartphone, and analysts say two other major providers may soon offer the iPhone…