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  • Bankrupt Energy Future to auction stake in Oncor

    DALLAS (AP) — Bankrupt power giant Energy Future Holdings terminated its restructuring agreement and announced plans to auction its stake in the profitable power transmission business Oncor Electric Delivery Co., according to a filing Thursday with the U.S. Securities and Exchange Commission. The company and its creditors "believe that the...

  • Obama: FAA took 'prudent action' on Israel flights

    WASHINGTON (AP) — President Barack Obama says the Federal Aviation Administration took "prudent action" in temporarily banning U.S. flights in and out of Israel. Obama says decisions on airline safety are not made on the basis of politics or alliances. He noted that the FAA ban came on the heels of last week's downing of a passenger jet by a...

  • Business Highlights

    ___ Across US job market, layoffs are becoming rare WASHINGTON (AP) — The risk of losing your job is getting smaller and smaller. As the U.S. economy has improved and employers have regained confidence, companies have been steadily shedding fewer workers. Which is why applications for unemployment benefits have dwindled to their lowest...

  • FDA reviewing what could be first biosimilar drug

    WASHINGTON, D.C. (AP) — The Food and Drug Administration is reviewing research data on what could become the first U.S.-approved "biosimilar" drug, a cheaper, sort-of generic version of a biologic drug. Nearly five years after Congress passed a law enabling future approval of biosimilars, for the first time the FDA has accepted an...

  • Feds cap fines for not buying health insurance

    MIAMI (AP) — Federal officials have capped the amount of money scofflaws will be forced to pay if they don't buy insurance this year under the new health care law. The caps are $2,448 per person and $12,240 for a family of five. The amount is equal to the national average annual premium for a bronze-level health plan. The penalty for the...

  • Union Pacific 2Q profit chugs ahead 17 percent

    OMAHA, Neb. (AP) — Union Pacific Corp. said Thursday that its quarterly profit climbed 17 percent as the railroad hauled 8 percent more freight and raised shipping rates. The Omaha, Nebraska-based company said it hauled more agricultural, automotive, intermodal, industrial and coal shipments. The only area where volume slipped was in...

  • Obama wants limits on US company mergers abroad

    LOS ANGELES (AP) — Staking out a populist stand ahead of the midterm elections, President Barack Obama on Thursday demanded "economic patriotism" from U.S. corporations that use legal means to avoid U.S. taxes through overseas mergers. "I don't care if it's legal," Obama declared. "It's wrong." Obama and congressional Democrats are pushing...

  • Court throws out Chiquita terror payment claims

    MIAMI (AP) — A divided federal appeals court on Thursday threw out claims potentially worth billions of dollars against produce giant Chiquita Brands International made by relatives of thousands of Colombians killed during years of bloody civil war. A panel of the 11th U.S. Circuit Court of Appeals ruled 2-1 that federal courts have no...

  • How the Dow Jones industrial average did Thursday

    Major U.S. stock indexes ended roughly where they began Thursday, despite investors having to work through a busy day of corporate earnings and two economic reports. On Thursday: The Dow Jones industrial average lost 2.83 points, or 0.02 percent, to close at 17,083.80. The Standard & Poor's 500 index rose 0.97 of a point, or 0.05 percent, to...

  • Flurry of earnings, economic reports fail to dazzle Wall Street

    NEW YORK - Only Wall Street could make the buying and selling of more than 3 billion shares look like nothing happened. Major U.S. stock indexes ended roughly where they began Thursday, despite investors having to work through a busy day of corporate earnings and two economic reports. Underneath the flat surface, there was a lot of movement...

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