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US stocks rise as health care and energy companies soar

US stocks rise as health care and energy companies soar

NEW YORK (AP) — U.S. stocks broke a two-day losing streak Wednesday as investors bought up drugmakers and other health care companies. Energy companies also jumped as the price of oil surged. Biotech drug companies, which have been mired in a long slide, made their biggest gains in almost five years. That came after Pfizer, one of the largest pharmaceutical ...

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Federal suit to stop Halliburton, Baker Hughes deal

Federal suit to stop Halliburton, Baker Hughes deal

WASHINGTON (AP) — The Justice Department on Wednesday sued to stop Halliburton Co. from acquiring oilfield services rival Baker Hughes Inc., saying the deal would harm consumers and eliminate head-to-head competition. The proposed transaction, valued at nearly $35 billion, would combine two of the world’s three leading providers of those services to oil and gas companies and create a bigger ...

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US stocks edge mostly higher in early trading

NEW YORK (AP) — Stocks are wobbling in early trading Wednesday. Health care companies are trading higher, energy companies are rising along with the price of oil and telecommunications companies are slipping. Indexes have slumped over the last two days and the market is coming off its worst day in about a month. KEEPING SCORE: The Dow Jones industrial average ...

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US trade deficit rises in February to 6-month high

US trade deficit rises in February to 6-month high

WASHINGTON (AP) — The U.S. trade deficit rose in February to the highest level in six months as the growth in imports outpaced a modest rise in exports. The trade gap widened to $47.1 billion, up 2.6 percent from a January imbalance of $45.9 billion, the Commerce Department reported Tuesday. Boosted by stronger sales of U.S.-made autos, exports increased 1 ...

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Appeals court won’t overturn wind farm fraud conviction

Appeals court won't overturn wind farm fraud conviction

CHEYENNE, Wyo. (AP) — A federal appeals court is rejecting an effort by a Salt Lake City man to overturn his conviction for bilking investors in a fraudulent wind farm business, just days after rejecting a similar appeal from the man’s sister. The 10th U.S. Circuit Court of Appeals in Denver on Monday rejected the latest appeal from Robert Arthur ...

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US to try to block Halliburton from buying rival

WASHINGTON (AP) — The Justice Department is expected to sue this week to stop Halliburton from acquiring Baker Hughes, according to a person familiar with the matter. The person spoke on condition of anonymity Tuesday because the lawsuit had not yet been announced. Halliburton and Baker Hughes help oil and natural companies by doing much of the actual drilling work ...

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More Texas jobs lost as oil bust continues

More Texas jobs lost to oil bust

More than 1,100 Texas jobs have been cut in the past few weeks, according to reports by the Texas Workforce Commission. Oil major BP plans to cut at least 500 jobs in Harris County this year. The layoffs are expected to happen in June at three Houston locations. BP spokesman Jason Ryan said about 4,000 total upstream jobs will be ...

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Global stocks fall as oil drops, IMF sees gloomy outlook

Global stocks fall as oil drops, IMF sees gloomy outlook

TOKYO (AP) — Global stocks fell Tuesday as oil prices dropped further and the head of the International Monetary Fund sounded downbeat on the outlook for the world economy. KEEPING SCORE: France’s CAC 40 fell 2.1 percent to 4,252.21, while Germany’s DAX dropped 2.2 percent to 9,607.29. Britain’s FTSE 100 fell 1.4 percent to 6,080.85. U.S. shares were set to drift ...

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Air Products to book charge, exit energy-from-waste business

Air Products will book a pre-tax charge ranging from $900 million to $1 billion in its fiscal second quarter, as the industrial gas supplier leaves its energy-from-waste business. The Allentown, Pennsylvania, company said Monday the charge stems mainly from writing down assets from the business. Air Products also expects a modest future tax benefit from the write-off. Company officials said ...

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Once wedded to oil, Houston economy carries on despite bust

View of downtown Houston, Texas. (Image: Sarath Kuchi via Flickr)

HOUSTON (AP) — Amanda Salazar watched for a year as colleagues at the Houston-based oil rig manufacturer where she worked lost jobs, victims of the latest oil bust. She realized it was time for a change before she too got a pink slip. So Salazar left her job as a software trainer with National Oilwell Varco for a similar position ...

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