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Oil tops $92 for 1st time since late May

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  Rising tensions in the Middle East have pushed oil prices sharply higher over the past three weeks, forcing drivers to pay more at the pump.   Crude rose $2.66, about 3 percent, to $92.53 per barrel Thursday, crossing above $92 for the first time since late May. The price has risen about $15 per… Continue Reading Oil tops $92 for 1st time since late May

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  The latest signs of a rebound in the housing market and a handful of better earnings reports were enough to bring buyers back to the stock market Wednesday.   The Dow Jones industrial average rose 69 points to 12,874 in the first 1 ½ hours of trading, overcoming an early deficit of 50 points.… Continue Reading Jump in housing starts, earnings send stocks up

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  BP America Inc. has paid a $5 million civil penalty for submitting false, inaccurate, or misleading reports for energy production on Southern Ute Indian Tribal lands in southwestern Colorado.   The U.S. Department of the Interior says BP America initially requested a hearing on the civil penalty, but decided to pay up instead.  … Continue Reading BP pays $5 million for false Colorado production reports

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    For the first time, researchers are reporting that a treatment might help stabilize Alzheimer’s disease for as much as three years, but the evidence is weak and only in four patients.   The treatment is Gammagard, made by Baxter International Inc. Doctors say that four patients who received the highest dose in early… Continue Reading Small study: Drug may help stabilize Alzheimer’s

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  The city of Denver is holding a contest for its startups and early-stage businesses, with a $50,000 prize going to whoever submits the best business plan.   At a similar contest organized by the entrepreneurial outfit Galvanize on Friday, Paul Washington of the Denver Office of Economic Development said the winner of the city… Continue Reading City of Denver holds business-plan competition

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  The outlook for the U.S. economy appeared dimmer Monday after a report that Americans spent less at retail businesses for a third straight month in June.   The report led some economists to downgrade their estimates for economic growth in the April-June quarter. Many now think the economy grew even less than in the… Continue Reading US economy appears weaker as retail sales slump

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  U.S. wholesale prices rose only slightly last month, as higher costs for food and pickup trucks offset another drop in energy prices. But overall inflation stayed mild, leaving the Federal Reserve room to take steps to boost the economy.   The Labor Department said Friday that the producer price index increased 0.1 percent in… Continue Reading U.S. wholesale prices rise 0.1 percent in June

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  A deep hole in a highway north of Leadville may force changes to the route for the USA Pro Challenge bicycle race.   State highway workers are still trying to figure out how to repair a 20-foot-wide, 100-foot-deep hole that prompted the closure of U.S. 24. The Colorado Department of Transportation says the hole… Continue Reading Hole in highway may force bicycle race detour

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  Wells Fargo Bank will pay at least $175 million to settle accusations that it discriminated against African-American and Hispanic borrowers in violation of fair-lending laws, the Justice Department announced Thursday.   Wells Fargo, the nation’s largest residential home mortgage originator, allegedly engaged in a pattern or practice of discrimination against qualified African-American and Hispanic… Continue Reading Wells Fargo to pay $175M in lending settlement

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Study results for three experimental drugs for Alzheimer’s are expected in the coming months after more than a decade of failed attempts to find a way to slow down the disease.   There is no known cure for Alzheimer’s. Current medicines just temporarily ease symptoms of the mind-robbing disease.   Results are due within a… Continue Reading Last drugs standing: Key Alzheimer results coming

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