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Category: Business

CBO projects slow growth in 2013

WASHINGTON, Feb. 5 (UPI) — The Congressional Budget Office says U.S. economic growth “will remain slow” in 2013 due in part to budgetary changes “scheduled to occur under current law.” In a

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B&W continues U.S. nuclear support

CHARLOTTE, N.C., Feb. 5 (UPI) — The U.S. military has awarded $510 million in contracts to Babcock & Wilcox Nuclear Operations Group Inc. for components and services to defense projects. The Babcock

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Stock indexes close higher

NEW YORK, Feb. 5 (UPI) — The Dow Jones industrial average closed higher Tuesday, following an equities rebound in Europe. By close of trading on Wall Street, the Dow added 99.22 points

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Grains mixed Tuesday

CHICAGO, Feb. 5 (UPI) — Grain futures prices were mixed on the Chicago Board of Trade Tuesday with the dollar index flat on the International Exchange. Corn was off 4 3/4 to

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Resistant weeds said threat to U.S. crops

WASHINGTON, Feb. 4 (UPI) — A U.S. health advocacy group Monday urged limiting the use of herbicides on genetically engineered crops, saying the technology is unsustainable. The Center for Science in the

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Government goes after S&P

NEW YORK, Feb. 4 (UPI) — The U.S. government has plans to file charges against credit rating firm Standard & Poor’s for misleading bond ratings, sources told The Wall Street Journal. State

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Economic Outlook: The status quo

By ANTHONY HALL Asking how Tim Geithner did as the U.S. treasury secretary, one week after he has stepped down, is a question of tone and detail. In the first place, there

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Markets retreat Monday

NEW YORK, Feb. 4 (UPI) — The Dow Jones industrial average ducked under 14,000 Monday after closing above the psychological benchmark Friday. Friday marked the Dow’s highest close since Oct.12, 2007. But

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Grains close mixed in Chicago

CHICAGO, Feb. 4 (UPI) — Grain futures prices were mixed on the Chicago Board of Trade Monday on a light trading day. Corn was 1 1/4 to off 1 3/4, soybeans were

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U.S., Mexico reach tomato trade accord

WASHINGTON, Feb. 3 (UPI) — The United States and Mexico have reached a tentative agreement to avoid a cross-border tomato trade war, officials in both countries said. The deal was prompted by

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FTC moves on mobile privacy guidelines

WASHINGTON, Feb. 2 (UPI) — The U.S. Federal Trade Commission said software developers for mobile devices should adopt stronger policies to safeguard the privacy of individuals. In a non-binding staff report approved

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Panel floats high-end investor exchange

WASHINGTON, Feb. 3 (UPI) — An advisory panel to the U.S. Securities and Exchange Commission recommended Friday a stock exchange be created exclusively for high-end investors. The panel, the advisory committee on

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Etch A Sketch creator dies

BRYAN, Ohio, Feb. 2 (UPI) — Andre Cassagnes, the French inventor who created the Etch A Sketch drawing toy in the 1950s, has died, a company official says. He was 86. NBC

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Home foreclosures down in December

IRVINE, Calif., Feb. 3 (UPI) — Home foreclosures across the United States declined in December, extending a critical component of the housing recovery, a mortgage tracking firm said. The 19.5 percent decline

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250,000 Twitter accounts breached

SAN FRANCISCO, Feb. 2 (UPI) — Twitter said this week’s security breach involving 250,000 of the social website’s accounts was similar to other attacks on U.S. companies. Twitter said the attacks —

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Business

Dow Jones breaks 14,000 points

NEW YORK, Feb. 1 (UPI) — The Dow Jones industrial average closed above the 14,000 mark for the first time in more than five years Friday on reports about U.S. jobs and

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Mortgage rates climb in week

WASHINGTON, Jan. 31 (UPI) — Long-term U.S. mortgage rates rose in the week that ended Thursday, with the incline defining a new trend, the Federal Home Loan Mortgage Corp. said. In the

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Oil settles lower, gas higher

NEW YORK, Jan. 31 (UPI) — The price of crude oil held above $97 per barrel overnight in New York, dropping slightly on the prospects of softer demand. NYMEX West Texas Intermediate

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Report: IRS picks up hiring pace

WASHINGTON, Jan. 30 (UPI) — The U.S. Internal Revenue Service is hiring new workers more quickly, in part because of automation and improved control of the process, an audit found. The Treasury

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Costs mount for ‘sandwich generation’

WASHINGTON, Jan. 30 (UPI) — Costs are rising for the so-called sandwich generation, middle-age Americans with aging parents who also are raising children, U.S. researchers said. A Pew Research Center report on

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Grain futures rise in Chicago

CHICAGO, Jan. 30 (UPI) — Grain futures closed higher Wednesday on the Chicago Board of Trade with the dollar index off 0.38 percent to 79.27 on the International Exchange. Corn was up

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U.S. stocks skid to close

NEW YORK, Jan. 30 (UPI) — U.S. stock indexes slid to the close Wednesday after the government said the economy shrank in the fourth quarter of 2012. The advance figure released by

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U.S. home ownership rate remains low

WASHINGTON, Jan. 29 (UPI) — The U.S. home ownership rate dropped in the fourth quarter of 2012, matching the lowest percentage since early 1997, the Census Bureau said Tuesday. The home ownership

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Verizon, AT&T in wireless spectrum deal

NEW YORK, Jan. 25 (UPI) — Verizon Wireless says it is selling some spectrum to AT&T for $1.9 billion as U.S. carriers scramble for bandwidth to carry increasing smartphone data traffic. Verizon

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Apple value slips to second place

NEW YORK, Jan. 26 (UPI) — Shares of U.S. technology innovator Apple dropped Friday, pushing the value of the firm from first to second place behind Exxon Mobil, stock data shows. For

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Google sparks hope in Kansas City

KANSAS CITY, Kan., Jan. 26 (UPI) — Google’s use of Kansas City, Kan., as a high-speed Internet test case has already proven itself, a Kansas City, Mo., official said. “This is exactly

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Manufacturing index shows gains

NEW YORK, Jan. 24 (UPI) — An index of U.S. manufacturing activity showed a strong improvement in January, a research firm said Thursday. Markit Economics said the manufacturing sector’s Purchasing Managers Index

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Jobless claims drop by 5,000

WASHINGTON, Jan. 24 (UPI) — The U.S. Labor Department said first-time jobless benefits claims dropped by 5,000 in the week that ended Saturday. Initial claims for unemployment benefits reached pre-recession levels in

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U.S. leading indicators head higher

NEW YORK, Jan. 24 (UPI) — The U.S. index of leading economic indicators rose 0.5 percent in December, a relatively sharp jump for the index, the Conference Board said Thursday. The Leading

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