May 25, 2013

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Obama takes on national security in Va. swing

Democrat Barack Obama is bouncing from one patch of Republican turf to another this week. Virginia is his stomping grounds on Wednesday, as he continues his assault on Republican John McCain's economic proposals while also introducing national security differences into the final-stretch mix.

World leaders to meet on economy in Washington

Leaders from 20 nations will meet Nov. 15 in Washington to address the global financial crisis - the first in a series of summits to resolve what economists predict could be a long and deep economic downturn, the White House announced Wednesday.

Stocks open lower as investors watch earnings

Wall Street tumbled again Wednesday as investors again shifted their focus away from improving credit markets and fixated on worrisome corporate earnings that are raising fears of a deep and painful recession. The major indexes fell more than 1 percent, including the Dow Jones industrial average, which fell 350 points.

Oil Falls Below $69 on US Recession Fears

Oil prices fell below US$69 a barrel Wednesday as investors shrugged off a looming OPEC production cut after company forecasts suggested the U.S. may be headed for a severe economic slowdown that would crimp demand for crude.

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Possible Changes on the way at St. Louis Gateway Arch Grounds

The National Park Service favors a plan that would allow for changes to the look of the Gateway Arch grounds. Park officials say if the preferred alternative is approved, a design competition would be held to generate ideas to revitalize the grounds of the Jefferson National Expansion Memorial.

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Wachovia Reports $23.9B Loss for 3Q

Wachovia Corp. on Wednesday reported a staggering $24 billion loss as it took a goodwill impairment charge of nearly $19 billion ahead of its acquisition by Wells Fargo & Co.

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Stocks Open Lower as Investors Watch Earnings

Wall Street tumbled again Wednesday as investors again shifted their focus away from improving credit markets and fixated on worrisome corporate earnings that are raising fears of a deep and painful recession.

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Boeing's 3Q Profit Dives 38%

Boeing Co., the world's No. 2 commercial airplane maker, said Wednesday its third-quarter earnings plummeted 38 percent as a strike and supplier production problems hurt results. Its shares fell nearly 5 percent in morning trading.

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McDonald's 3Q Profit Jumps 11%

A big jump in overseas and U.S. sales boosted McDonald's Corp.'s third-quarter profit by 11%, the company said Wednesday, a result that handily beat Wall Street's expectations.

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Dow Drops 280 in early Trading on Earnings Woes

Wall Street tumbled again Wednesday as investors again shifted their focus away from improving credit markets and fixated on worrisome corporate earnings that are raising fears of a deep and painful recession.

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Simpson Trial Witness Sues Dr. Phil For Defamation

The memorabilia dealer who led O.J. Simpson to a hotel room where an infamous robbery occurred filed a lawsuit Tuesday against the "Dr. Phil" show claiming his remarks in an interview were spliced to change their meaning.

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