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Supreme Court to consider sex-offender law

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WASHINGTON (AP) – The Supreme Court will decide the constitutionality of a federal law that permits sex offenders to be kept behind bars after they complete their prison terms.The justices, acting Monday, say they will consider the Obama administration’s appeal of a lower court ruling that invalidated the law. The 4th U.S. Circuit Court of… Continue Reading Supreme Court to consider sex-offender law

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WASHINGTON (AP) – The total number of people on the unemployment insurance rolls dropped for the first time since early January, the government said Thursday, while new claims for benefits rose slightly.The report shows that job losses are easing after companies made deep cuts earlier this year. But it’s not clear whether recipients of unemployment… Continue Reading Jobless benefit numbers drop by nearly 6.7 million

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A private research group says its forecast of economic activity rose in May, the second straight gain after seven months of declines. The Conference Board says its index of leading economic indicators, designed to forecast activity in the next three to six months, rose 1.2 percent. Economists surveyed by Thomson Reuters expected a 0.9 percent… Continue Reading Leading economic indicators up more than expected

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May consumer prices rise less than expected

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The Labor Department reported Wednesday that the consumer price index rose a seasonally adjusted 0.1 percent last month, below analysts’ expectations of a 0.3 percent rise. Excluding volatile food and energy costs, core prices also increased 0.1 percent, matching expectations. Low inflation enables the Federal Reserve to keep a key short-term interest rate near zero,… Continue Reading May consumer prices rise less than expected

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WASHINGTON (AP) – Fresh signs that the economy is stabilizing – though at very low levels – emerged today in reports that home construction rose more than expected last month and wholesale prices remain in check. The building of new homes and apartments jumped 17.2 percent to a seasonally adjusted annual rate of 532,000 units from… Continue Reading Construction numbers hint at economic rebound

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Auto loan delinquencies jump

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NEW YORK (AP) – Those “green shoots” of economic rebound don’t yet have very deep roots. While some economic indicators are pointing to better days ahead, data shows consumers continued to struggle to make loan payments in the first quarter. The latest evidence showed in the rate of auto loan payments that were 60 days… Continue Reading Auto loan delinquencies jump

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WASHINGTON (AP) — The Treasury Department has approved 10 of the nation’s largest banks to repay $68 billion in government bailout money. The department on Tuesday said the banks, which were not named, will be allowed to repay the money they received from the $700 billion Troubled Asset Relief Program created by Congress last October… Continue Reading 10 big banks get OK to repay $68B in bailout money

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WASHINGTON (AP) – Wholesalers slashed inventories more than expected in April as businesses struggled to get stockpiles in line with falling sales.Still, analysts were slightly encouraged because sales dipped at a slower pace than in the previous month. The Commerce Department said Tuesday that wholesale inventories fell 1.4 percent in April, more than the 1.1… Continue Reading April wholesale inventories fall 1.4 percent

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Qwest to keep long-distance business

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DENVER (AP) – Qwest Communications International Inc. said today that it is calling off the auction for its nationwide long-haul data and telephone network.

The Denver-based phone company said the network was more valuable to the company than the amount it would raise in a sale.

Qwest did not say how much the bids it received were worth. News reports last week indicated Qwest received bids far below the $2 billion to $3 billion it wanted.

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GM will stop making medium-duty trucks

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DETROIT (AP) – General Motors says it will stop making medium-duty trucks by July 31 because it was unable to find a buyer for the operations. The company said in a statement that it will wind down production of the Chevrolet Kodiak and GMC Topkick trucks after searching for a buyer for four years. Both… Continue Reading GM will stop making medium-duty trucks

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