May 19, 2013

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Wall Street Midday

Stocks are mostly lower in midday trading following an unexpected contraction in U.S. manufacturing last month.

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Monday Oil Prices

The price of oil is higher on word that China's manufacturing sector grew last month for the first time in more than a year.

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NY Appeals Court Tosses 2 Convictions In Tax Case

A New York federal appeals court has reversed the convictions of two former Ernst & Young partners. They were accused of defrauding the United States by selling illegal tax shelters to wealthy individuals.

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Big Rivalry, Big Bucks Could Come To An End

It's arguably the biggest game of the year for the Wolf Pack Football Team, which will meet Boise State head-to-head Saturday afternoon at Mackay Stadium While no titles are at stake, it's still huge rivalry, and means money to local businesses to cater to fans. Boise may be going to another conference next year. That will put an end to a great match-up and perhaps the business it brings to local bars and clothing stores.

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Oil Prices Lower

Oil prices are lower as traders remain unsure whether positive U.S. economic news signals an increase in demand for fuel.

Nintendo Wii U is Hot Seller

Nintendo says it has sold more than 400,000 of its new video game console, the Wii U, in its first week on sale in the U.S.

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Car Owners Fall Behind on Payments

New consumer credit data show that more Americans fell behind on their auto-loan payments in the third quarter, when back-to-school shopping and other needs traditionally put a strain on consumers' wallets.

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Busiest DMV Day

If you had some unfinished business at the Department of Motor Vehicles Monday was not the day to complete it. DMV staff calls it "Black Monday" because of all the transactions they handle on this day. Wait times were predicted to double or even triple.

Schapiro Stepping Down

Mary Schapiro is stepping down as chairman of the Securities and Exchange Commission after helping lead the U.S. government's regulatory response to the 2008 financial crisis.

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Bus Load Of Locals

On this Black Friday, many shoopers are focued on getting the best deals possible. Others want to make their buck count and look for local retailers to do their shopping. One local event allowed local women to do just that.

McDonald's Replaces Big Cheese

McDonald's Corp. is replacing the head of its U.S. operations after the world's biggest hamburger chain reported its first monthly sales decline in nearly a decade.

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Hostess Bakers Go on Strike

About a dozen workers began picketing at a Hostess Brands plant in Sacramento honoring a bakers' union strike at the bankrupt company's plants across the country.

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Nevada Gaming Up in September

State officials say Nevada gambling revenues were up more than 3 percent in September compared with the same month a year ago.

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US Business News

  • Yahoo Deal Shows Power Shift
    Yahoo has agreed to pay $1.1 billion for Tumblr, a six-year-old company with more than 100 million users but very little revenue, a deal that highlights the shifting balance of power in the technology business.
  • Wanted: Miners in Brazil for Anglo American
    While rising labor costs have become almost routine for global mining firms locals in Brazil have been willing to take lower-level jobs such as operating a conveyor belt or maintaining machines for less than $10,000 a year.
  • Chesapeake Taps Lawler as CEO
    Chesapeake Energy tapped Robert Douglas Lawler, a 46-year-old executive at Anadarko Petroleum, to succeed Chesapeake co-founder Aubrey McClendon as CEO of the nation's second-largest natural-gas producer.
  • Xbox Girds for a Smartphone Battle
    What's underneath the hood of the latest Xbox videogame console represents a multiyear odyssey of trying to figure out how to keep the machine "cool" in the age of smartphones and tablets.
  • States Bank On Online Sales Tax
    Congress hasn't yet agreed to end tax-free shopping on the Internet, but some states already are planning how they'll spend the money.
  • Dreamliner's Other Issues Get Attention
    Boeing and its customers are refocusing on fixing more technical issues that affect the reliability of the 787 jet, as the aircraft resumes commercial flights after battery woes that led to a global grounding.
  • Stephen King Says No to E-Book
    Stephen King has no plans for a digital edition of his new book, "Joyland," hoping to get more people to shop for it in a physical bookstore.
  • An Independent Scotland Risks Financial Shocks
    An independent Scotland would have banking assets worth more than 1,250% of Scottish gross domestic product, putting taxpayers at significant risk in the event of another banking crisis, the U.K. Treasury said Sunday.
  • For Multinationals, Europe Is Soft Spot
    Soft European markets were a consistent and negative theme of the first-quarter results from big U.S. industrial companies, and concerns about further deterioration are expected to be a key topic at the annual conference that starts Monday.
  • Sandy's Effects Likely to Lift Home Depot, Lowe's
    This week, when Home Depot and Lowe's report fiscal first-quarter results, the reconstruction phase from last year's superstorm Sandy will be looming large as cooler-than-normal temperatures delay spring selling.