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US stocks slip as oil prices skid ahead of OPEC meeting

NEW YORK (AP) — U.S. stocks are taking small losses Friday morning as energy companies are slipping with the price of oil. Citigroup became the latest bank to report weak but better-than-expected results for the first quarter. MORNING RUSH: The Dow Jones industrial average fell 28 points, or 0.2 percent, to 17,898 as of 10:10 a.m. Eastern time. The Standard ...

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Low interest rates, troubled loans send bank profits lower

Low rates, troubled loans send bank profits lower

PHOENIX (AP) — 2016 is getting off to a lousy start for major U.S. banks. Energy loans are turning bad, low interest rates are making it hard to make profitable loans, and markets have been volatile. On the bright side, first-quarter results from banks, which started coming out this week, haven’t been quite as bad as many analysts feared. Banks ...

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US stocks steady ahead of global economic talks

LONDON (AP) — U.S. stocks are little changed as investors weigh first quarter results from several financial companies and look ahead to weekend meetings on economics and oil. Oil prices slipped early Friday, dragging energy companies lower. Citibank said first quarter profit declined sharply, but results beat expectations and Citi shares rose 2.4 percent. This weekend, finance ministers from leading ...

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U.S. stock indexes wobble to a mixed finish

Trading Floor at the New York Stock Exchange. (Image: Scott Beale / Laughingsquid.com via Flickr)

NEW YORK (AP) — U.S. stocks hardly budged Thursday and finished with a mix of small gains and losses. Banks and airlines rose on strong first-quarter reports, while consumer products companies struggled. The market wavered throughout the day. Stocks are coming off two big gains in a row and are trading at their highest levels of the year. “People are ...

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BP chief suffers shareholder revolt over $20M pay pack

LONDON (AP) — British energy producer BP has suffered a revolt by shareholders who objected Thursday to increasing Chief Executive Bob Dudley’s pay package by 20 percent after profit plunged last year. Almost 60 percent of shareholders rejected the remuneration report, which awarded Dudley a $19.6 million pay package even though the company experienced a drop in profit and planned ...

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US stocks jump as JPMorgan gives banks a big boost

US stocks jump as JPMorgan gives banks a big boost

NEW YORK (AP) — U.S. stocks climbed again Wednesday as quarterly results from JPMorgan Chase gave banks a big lift. Economic news from China powered industrial and technology companies in the U.S. and stock exchanges overseas. JPMorgan Chase, the largest bank in the U.S., led a rally in financial stocks after its first-quarter results came in better than analysts expected. ...

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Wells Fargo 1Q earnings fall as oil loans hit bottom line

Wells Fargo’s first quarter results fell 6 percent from a year ago, as the bank had to set aside more money to cover its struggling portfolio of oil and gas loans. The San Francisco-based bank said Thursday that it had net income of $5.46 billion, or 99 cents per share, down from $5.8 billion, or $1.04 per share, in the ...

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JPMorgan profit falls 8 percent, fails key regulatory test

JPMorgan profit falls 8 percent, fails key regulatory test

JPMorgan Chase said its first-quarter profit fell more than 8 percent from a year earlier, and future profit growth could be threatened after it failed a key regulatory test designed to prevent another financial crisis. First quarter profit at JPMorgan, the nation’s largest bank by assets, was hurt by weak results at its investment banking division and by loans to ...

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US stocks dip in early trading as tech stocks and banks fall

NEW YORK (AP) — U.S. stocks are edging lower Thursday morning. Tech stocks are falling after dour projections from Seagate Technology, and bank stocks are slipping. Strong first-quarter results from Delta are giving airlines a boost. KEEPING SCORE: The Dow Jones industrial average lost 12 points, or 0.1 percent, to 17,895 as of 10:05 a.m. Eastern time. The Standard & ...

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Peabody Energy, largest US coal miner, seeks bankruptcy protection

NEW YORK (AP) — Peabody Energy, the nation’s largest coal miner, has filed for bankruptcy protection as a crosscurrent of environmental, technological and economic changes wreak havoc across the industry. Mines and offices at Peabody, a company founded in 1833 by 24-year-old Francis S. Peabody, will continue to operate as it moves through the bankruptcy process. However, Peabody’s planned sale ...

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