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NY developer: Airline reneging on 9/11 promise
NY developer: Airline reneging on 9/11 promise
A World Trade Center developer asked a judge Wednesday to disqualify American Airlines from using an "act of war" defense to dodge property liability resulting from the Sept. 11 attacks. Lawyers for the developer, Larry Silverstein, filed papers in U.S. District Court in Manhattan to urge rejection

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Fed minutes show concerns about bond purchases
Fed minutes show concerns about bond purchases
Several Federal Reserve policymakers suggested last month that the Fed might have to scale back its efforts to keep borrowing costs low for the foreseeable future. Minutes of the Fed's Jan. 29-30 policy meeting released Wednesday showed that some officials worried about the Fed's plan to keep buyin

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Zambia takes over troubled Chinese-run coal mine
Zambia takes over troubled Chinese-run coal mine
Zambia's mining minister says his country has taken over a Chinese-run coal mine where managers once opened fire on workers during a labor dispute. Yamfwa Mukanga announced Wednesday that the government seized control of Collum Coal Mining Industries Ltd. Mukanga said the Chinese managers had not

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Chesapeake CEO cleared of intentional wrongdoing
Chesapeake CEO cleared of intentional wrongdoing
An investigation by Chesapeake Energy Corp.'s board of directors into outgoing CEO Aubrey McClendon's personal financing deals with company partners has found the deals did not benefit McClendon improperly or cost the company more. The company said Wednesday that "no intentional misconduct by Mr. M

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AP source: Debut author gets 7-figure book deal
AP source: Debut author gets 7-figure book deal
A debut author who graduated from the celebrated Iowa Writers' Workshop has a seven-figure book deal. HarperCollins announced Wednesday that it will publish Erika Johansen's "Queen of the Tearling," a fantasy trilogy inspired in part by Barack Obama. A person with knowledge of the negotiations said

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US housing starts dip but remain at solid pace
US housing starts dip but remain at solid pace
U.S. homebuilders began work at a slower pace in January than in December. But all of the drop occurred in the volatile area of apartment construction, which sank 24 percent. By contrast, the rate of single-family homebuilding rose 0.8 percent. Even with the overall decline, the pace of home constr

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US wholesale inflation still mild despite increase
US wholesale inflation still mild despite increase
U.S. wholesale prices rose only slightly in January after three straight declines, the latest sign that inflation is posing no threat. It means the Federal Reserve has room to keep interest rates at record lows without worrying about igniting inflation. The Labor Department said Wednesday that its

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O'Brien to headline correspondents' dinner
O'Brien to headline correspondents' dinner
Late night talk show host and comedian Conan O'Brien will be spending a late night with President Barack Obama. The White House Correspondents' Association has chosen O'Brien as the featured act for its annual dinner on April 27. Association president Ed Henry called O'Brien "one of television's mo

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Office Depot agrees to buy OfficeMax in stock deal
Office Depot agrees to buy OfficeMax in stock deal
Office Depot and OfficeMax are being collated. The retailers said Wednesday they have agreed to combine in an all-stock deal worth about $1.2 billion that would transform the office-supply retail sector, helping the No. 2 and No. 3 chains compete against industry behemoth Staples. The first move to

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First lady to launch 'Let's Move' tour in 3 states
First lady to launch 'Let's Move' tour in 3 states
First lady Michelle Obama is launching a three-state tour to promote her anti-childhood obesity program, "Let's Move." Mrs. Obama will make stops next week in Mississippi, Illinois and Missouri. The tour is tied to the third anniversary of the "Let's Move" program. The White House says the first la

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Harvest ends $725M sale of Venezuelan interests
Harvest ends $725M sale of Venezuelan interests
Energy company Harvest Natural Resources says it is dropping a planned $725 million sale of its Venezuelan interests to Indonesia's national oil company after that country's government declined to approve the deal. Harvest says it is disappointed the deal fell through, and its shares fell almost 35

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Germany charges 2 with selling Iran drone motors
Germany charges 2 with selling Iran drone motors
Two Iranian men have been charged with allegedly smuggling dozens of German-made aircraft motors to Iran to be used in its Ababil III surveillance and attack drone, federal prosecutors said Wednesday. Germany prohibits the export of goods to Iran that could be used for military purposes, abiding by

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Japan probe finds miswiring of Boeing 787 battery
Japan probe finds miswiring of Boeing 787 battery
A probe into the overheating of a lithium ion battery in an All Nippon Airways Boeing 787 that made an emergency landing found it was improperly wired, Japan's Transport Ministry said Wednesday. The Transport Safety Board said in a report that the battery for the aircraft's auxiliary power unit was

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Oil price hovers around $97 ahead of US data
Oil price hovers around $97 ahead of US data
The price of oil hovered around $97 a barrel on Wednesday ahead of the release of U.S. housing starts for January. By early afternoon in Europe, benchmark crude for April delivery was down 19 cents to $96.91 a barrel in electronic trading on the New York Mercantile Exchange. The March contract, whic

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Feds, BP agree oil captured not part of penalties
Feds, BP agree oil captured not part of penalties
BP and the federal government have agreed that 34 million gallons of oil captured during the massive 2010 spill in the Gulf of Mexico can't count toward civil penalties the oil giant faces. The agreement is contained in a court filing Tuesday. It came in response to BP's argument that workers eithe

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Japan posts record $17.4B trade deficit in Jan
Japan posts record $17.4B trade deficit in Jan
Japan posted a record 1.63 trillion yen ($17.4 billion) trade deficit in January as rebounding exports lagged behind surging imports of crude oil and gas due to rising prices and the weakening yen. The provisional data released Wednesday show exports for the world's third-biggest economy rose 6.4 p

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Dell earnings fall 31 percent in 4Q
Dell earnings fall 31 percent in 4Q
Dell Inc. on Tuesday posted another quarter of declining sales and profits, deepening a downturn that disenchanted shareholders and culminated in the slumping personal computer maker's recent decision to take its stock off Wall Street in a $24.4 billion deal. The proposed sale, announced just two w

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Hackers take Jeep's Twitter account for a ride
Hackers take Jeep's Twitter account for a ride
Someone hacked their way into Jeep's Twitter account on Tuesday, posting fake tweets about the brand being sold to Cadillac and that it was suspending factory production. The move was similar to an incident involving the Burger King restaurant chain on Monday. A spokesman for Chrysler Group LLC, wh

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THE RESET: Deal to delay spending cuts in doubt
THE RESET: Deal to delay spending cuts in doubt
Chances seem to be dwindling for a deal in time to avert deep, automatic government spending cuts from beginning on March 1. The Republican-controlled House remains at loggerheads with the Democratic-led Senate and President Barack Obama over key issues. With no top-level talks under way and Congres

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'Good Day to Die Hard' debuts with $28.6M take
'Good Day to Die Hard' debuts with $28.6M take
Bruce Willis' action sequel "A Good Day to Die Hard" hauled in $28.6 million to lead the box office over the long President's Day weekend. The top 20 movies at U.S. and Canadian theaters Friday through Monday, followed by distribution studio, gross, number of theater locations, average receipts per

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