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  • Former federal agent pleads guilty to extortion

    SAN FRANCISCO (AP) — A former undercover drug agent pleaded guilty Wednesday to extortion and other charges after authorities said he used his position to steal more than $700,000 in digital currency, most of it siphoned from an online drug bazaar known as Silk Road that he infiltrated as part of a federal investigation. Carl M. Force, dressed...

  • Hewlett-Packard moves forward with plan to split in 2

    SAN FRANCISCO (AP) — Hewlett-Packard is moving forward with plans to split into two companies, filing paperwork to create a new entity that will sell commercial technology, while a separate spinoff will sell personal computers and printers. HP said in a regulatory filing Wednesday that the new company called Hewlett Packard Enterprise will...

  • PayPal to buy Xoom for $890 million cash

    NEW YORK (AP) — Ebay's PayPal unit is buying Xoom for $890 million cash in a bid to expand into international money transfers. Xoom is a San Francisco-based digital money transfer provider. The company's technology lets U.S. customers send money to, and pay bills for, family and friends worldwide with their mobile phones, tablets and...

  • CEOs of mortgage giants Fannie and Freddie get big raises

    NEW YORK (AP) — The CEOs of government-backed mortgage giants Fannie Mae and Freddie Mac are getting large raises, to about $4 million a year, as the government relaxes rules that were imposed on the companies after they suffered big losses and were bailed out. In forms filed with the Securities and Exchange Commission on Wednesday, the...

  • 3,000 baby floats recalled because they can deflate

    NEW YORK (AP) — About 3,000 inflatable baby floats are being recalled because they can deflate, posing a risk that a child could drown. The U.S. Consumer Product Safety Commission said Wednesday that the seams on the floats, distributed by Otteroo Corp. of San Francisco, can leak air. There have been 54 reports of broken seams but no reports...

  • California slips back to No. 8 economy in world

    SACRAMENTO, Calif. (AP) — Less than a month after edging out Brazil, California has slipped back to its ranking as the eighth-largest economy in the world based off an update of global economic data released Wednesday. According to the World Bank, Brazil's gross domestic product now stands at more than $2.3 trillion, running slightly higher...

  • Business Highlights

    ___ US probing possible airline collusion that kept fares high WASHINGTON (AP) — The U.S. government is investigating possible collusion among major airlines to limit available seats, which keeps airfares high, according to a document obtained by The Associated Press. The civil antitrust investigation by the Justice Department appears to...

  • JBS of Brazil buying Cargill US pork unit for $1.45B

    NEW YORK (AP) — Brazilian meat producer JBS will buy the U.S. pork division of agribusiness giant Cargill for $1.45 billion, the companies said Wednesday. JBS USA Pork said the deal will bolster its long-term growth in the U.S., and said it will gain two meat processing plants, five feed mills and four hog farms from Cargill. The sale is...

  • JBS USA to buy Cargill pork business for $1.45 billion

    DES MOINES, Iowa (AP) — The U.S. subsidiary of a Brazilian-based international meat processor is buying the pork division of Cargill Inc. JBS USA, a division of Sao Paulo, Brazil-based JBS, and Cargill said Wednesday they have signed an agreement for the $1.45 billion transaction. JBS USA Pork Chief Operating Officer Martin Dooley says it's a...

  • SUVs, muscle cars help auto industry maintain momentum

    DETROIT (AP) — Americans again bought vehicles that sit up high and come loaded with features like backup cameras and smartphone capabilities in June. Horsepower was also in; gas-sipping not so much. SUVs of all sizes continued to fly off dealer lots. Sales of the larger Ford Explorer rose 30 percent; Nissan's Rogue small SUV posted a 54...

  • Poll: Approval for Supreme Court health care decision

    WASHINGTON (AP) — A new poll finds that most Americans approve of the recent Supreme Court decision preserving the health care law's subsidized insurance premiums for people in all 50 states. Overall, 62 percent approved, while 32 percent disapproved, said the survey released Wednesday by the nonpartisan Kaiser Family Foundation. Opponents of...

  • US stocks gain as Greece appears to be willing to negotiate

    NEW YORK (AP) — Hopes that a deal could be reached between Greece and its creditors pushed stocks higher on Wednesday. The U.S. market opened higher, following strong gains for European stocks, after Greek Prime Minister Alexis Tsipras wrote a letter to the nation's creditors and appeared to make concessions. Greece failed to repay a loan to...

  • Justice Department investigating potential airline collusion

    WASHINGTON (AP) — A document obtained by The Associated Press shows the Justice Department is investigating whether airlines are colluding to grow at a slower pace as part of an effort to keep airfares high. The government has requested information from airlines as part of the antitrust investigation. Justice Department spokeswoman Emily...

  • Correction: Carnegie Heroes story

    PITTSBURGH (AP) — In a story June 30 about the Carnegie Heroes awards, The Associated Press reported erroneously on the fate of a boy whose brother drowned in a river. Christian Smith survived. He did not drown. A corrected version of the story is below: Late Oregon teen among 18 to win Carnegie Medal for heroism Oregon teen who died trying...

  • Milwaukee County bus drivers strike, scrambling commute

    MILWAUKEE (AP) — Hundreds of Milwaukee County union bus drivers went on strike early Wednesday, leaving tens of thousands of commuters scrambling to make alternative plans to get to work and elsewhere. The roughly 750 drivers walked off the job at 3 a.m. and began picketing at the Milwaukee County Transit System garages after contract...

  • Top selling cars and trucks in the US in June

    Automakers released June U.S. sales figures Wednesday. These are the top sellers, the number sold and the percent change from June 2014. Source: Autodata Corp.

  • Emmitt Smith, Flo Rida out of Miss USA, Macy's dumps Trump

    NEW YORK (AP) — Rapper Flo Rida, the Macy's department store chain and football Hall of Famer Emmitt Smith all had something in common on Wednesday: They're the latest to distance themselves from Donald Trump following his remarks about Mexican immigrants. The Republican presidential hopeful's team is struggling to hold the Miss USA pageant...

  • Gamblers' abuse claims test sovereignty of US tribal casinos

    MASHANTUCKET, Conn. (AP) — For gamblers skilled at counting cards, it can be especially risky to play at America's tribal casinos: Those who have gotten caught tell stories of seized winnings, wrongful detentions, or worse. Casino bosses everywhere have ways of making so-called "advantage players" feel unwelcome, regularly tossing and...

  • ACE and Dycom are big market movers

    NEW YORK (AP) — Stocks that moved substantially or traded heavily Wednesday on the New York Stock Exchange and the Nasdaq Stock Market: NYSE ACE Ltd., up 81 cents to $102.49 The insurance company is buying The Chubb Corp. in a $28.3 billion cash-and-stock deal to boost its international presence. Dycom Industries Inc., up $4.63 to $63.48...

  • Colorado Springs-area homebuilding jumps in June

    The pace of Colorado Springs-area homebuilding rose last month as more people who moved to the area, a better economy and a tight supply of re-sale properties helped propel the new home market. The Pikes Peak Regional Building Department in June issued 285 single-family home permits issued for new homes to be built in El Paso County, according...

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