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Oil prices sink with US inventories bulging

Updated: 01/14/2009 - Oil prices fell Wednesday with a government report showing that crude inventories continued to grow, suggesting that demand for oil and gasoline will not rebound anytime soon.

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Sebelius' Higher Ed Budget Raises Tuition Fears

Updated: 01/14/2009 - Some Republican lawmakers also say Gov. Kathleen Sebelius has singled higher education out. She proposes cutting almost $25 million from the current operating budgets of state universities, community colleges and technical colleges.

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Obama: Geithner 'embarrassment' no bar for Cabinet

Updated: 01/14/2009 - President-elect Barack Obama labeled the tax problems of his choice for Treasury chief an embarrassment Wednesday, but said Timothy Geithner's "innocent mistake" shouldn't bar him from the post leading urgent efforts to revive the economy.

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Long-struggling Nortel files for bankruptcy

Updated: 01/14/2009 - Nortel Networks Corp. spent years ringing up multiple rounds of layoffs as it tried to fix big problems in its business. But it couldn't ward off the recession.

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Economy starts '09 on weaker footing; outlook dim

Updated: 01/14/2009 - The U.S. economy started the new year on weaker footing as recession-shocked Americans retrenched further, forcing retailers to ring up fewer sales and factories to cut back production.

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Dismal holidays over, but retail outlook still dim

Updated: 01/14/2009 - After the worst holiday season in 40 years, retailers face more sales declines in the months ahead as the recession deepens, job losses mount and consumers retrench further.

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Plea negotiations loom in Madoff bail hearing

Updated: 01/14/2009 - Bernard Madoff returned to court in a bulletproof vest Wednesday and won another round in his fight to stay out of jail. But a larger issue loomed over the court: negotiations for a potential plea deal. Bail fights such as this usually carry motivations that are never stated on the court record, and the securities fraud case against Madoff appears laden with them.

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Motorola to cut 4,000 more jobs in 2009

Updated: 01/14/2009 - Mobile handset maker Motorola Inc. said Wednesday it will cut 4,000 more jobs in 2009, in addition to 3,000 it announced last year.

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Apple CEO Jobs backtracks on health, takes leave

Updated: 01/14/2009 - Apple Inc. co-founder and Chief Executive Steve Jobs said Wednesday he is taking a medical leave until June, even though just a week ago the cancer survivor tried to assure investors and employees his recent weight loss was caused by an easily treatable hormone deficiency.

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GOP Leader Knocks Kansas Governor for Skipping Briefings

Updated: 01/14/2009 - A GOP officials is criticizing Gov. Kathleen Sebelius for submitting her budget proposals to the Legislature, but letting her budget director, Duane Goossen, go through the details with lawmakers and reporters.

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Insurgents attack Somali presidential palace

Updated: 01/14/2009 - Islamic insurgents attacked Somalia's presidential palace and five civilians were killed Wednesday, underscoring fears the country could collapse into further chaos only a day after Ethiopian troops handed over security duties to a Somali force.

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Sri Lanka military seizes key northern peninsula

Updated: 01/14/2009 - Government forces have seized a final strip of land from Tamil Tiger rebels in a key northern peninsula of Sri Lanka, securing control of the symbolic heart of the 25-year separatist insurgency, the military said.

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Long-Time Figure in Senate Retires

Updated: 01/14/2009 - The Senate chamber rose to its feet for Sue Krische. She retired last week after serving 23 years as the Senate president's chief of staff.

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Basra is focus of Shiite rivalry in southern Iraq

Updated: 01/14/2009 - Freed last year from the grip of militias, Basra has emerged as the main battleground for rival Shiites in elections for control of the oil-rich south - a race that will test the power of religious parties and the influence of neighboring Iran.

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Police nab Mafia fugitive who fled through sewer

Updated: 01/14/2009 - A Mafia fugitive who narrowly eluded arrest this week by fleeing though a small town's sewer system was captured Wednesday as he scrambled across a rooftop in another daring escape bid, police said.

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Boost Mobile Offering $50 Unlimited Plan

Updated: 01/14/2009 - Boost Mobile, a subsidiary of Overland Park, Kan.-based Sprint Nextel Corp., announced Wednesday a $50 unlimited voice and data plan. It doesn't require an annual contract and isn't tied to a home calling area.

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China economy grew to world's 3rd largest in 2007

Updated: 01/14/2009 - China's economy grew to the world's third-largest in 2007, new data showed Wednesday, another milestone in the country's stunning ascent in the global pecking order that puts it behind only Japan and the United States.

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Vatican secret confession tribunal opens up

Updated: 01/14/2009 - One of the Vatican's most secrecy shrouded tribunals, which handles confessions of sins so grave only the pope can grant absolution, is giving the faithful a peek into its workings for the first time in its 830-year history.

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Pakistan reopens NATO supply route

Updated: 01/14/2009 - Pakistan reopened a supply route for NATO and U.S. forces in Afghanistan on Wednesday after tribesmen ended a three-day blockade.

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Insurgents attack Somali presidential palace

Updated: 01/14/2009 - Islamic insurgents attacked Somalia's presidential palace and five civilians were killed Wednesday, underscoring fears the country could collapse into further chaos only a day after Ethiopian troops handed over security duties to a Somali force.

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10-day truce proposed in talks with Hamas, Israel

Updated: 01/14/2009 - Egypt and Hamas are close to a deal for a 10-day cease-fire between Israel and the Palestinian militant group in Gaza, where the death toll from the Israeli offensive exceeded 1,000, officials said Wednesday.

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Bin Laden urges jihad against Israel over Gaza

Updated: 01/14/2009 - Osama bin Laden urged Muslims to launch a jihad against Israel, seeking to harness anger over the Gaza offensive with a new message posted on the Internet on Wednesday.

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First Gaza damage estimate: $1.4 billion

Updated: 01/14/2009 - Israel's fierce assault on Gaza's Hamas rulers has destroyed at least $1.4 billion worth of buildings, roads, pipes, power lines and other infrastructure in already impoverished territory, Palestinian surveyors estimate.

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10-day truce proposed in talks with Hamas, Israel

Updated: 01/14/2009 - Egypt and Hamas are close to a deal for a 10-day cease-fire between Israel and the Palestinian militant group in Gaza, where the death toll from the Israeli offensive exceeded 1,000, officials said Wednesday.

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