Ailing Portugal reels from credit downgrade

A woman walks past the graffiti-covered window of a closed shop, Wednesday, July 6 2011, in downtown Lisbon. Portugal’s financial plight deepened Wednesday, with borrowing rates jumping higher and stocks slumping after ratings agency Moody’s, downgraded its debt four notches Tuesday and said the country will likely follow Greece in needing a second rescue package. […]

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US service sector grew in June, but at slower pace

In this June 29, 2011 photo, lunch is served to diners at The Palm restaurant in New York’s Tribeca neighborhood. The U.S. service sector, which employs nearly 90 percent of the country’s work force, expanded for a 19th consecutive month in June but at a slower pace than in May. (AP Photo/Richard Drew) WASHINGTON (AP) […]

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Stock market shrugs off weak service sector report

FILE – In this June 22, 2011 file photo, trader John Panin, center, works on the floor of the New York Stock Exchange. Global stock markets were mostly lower Wednesday, July 6, 2011, as investors focused attention on Europe’s debt crisis as bankers worked out how they would contribute to a rescue for debt-riddled Greece.(AP […]

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Rules lets FDIC recover pay from failed bank execs

WASHINGTON (AP) — Federal regulators will be able to take back two years of pay from executives held responsible for a large bank’s failure. Executives deemed “negligent” and “substantially responsible” for a big bank’s failure can lose all of their compensation from the previous two years under a rule approved Wednesday by the board of […]

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Teenage Birth Rates Are Down

Teenage Birth Rates Are Down July 6, 2011 — Adolescent injury deaths have dropped in recent years, and so have percentages of childhood and preterm births, according to a new federal report on the overall well-being of America’s youth. The report, “America’s Children: Key National Indicators of Well-Being 2011,” says injury deaths of children ages […]

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Obama’s State Dept. Nominee Described Kim Jong-il As ‘Smart, Capable’ and ‘Not a Lunatic’

President Obama has nominated Wendy Sherman as undersecretary for political affairs, the State Department’s third-ranking position. (Photo: Albright Stonebridge Group) (CNSNews.com) – President Obama’s nominee to a top State Department post is one of the few American diplomats to have met North Korea’s Kim Jong-il, whom she later described as “smart, capable and supremely confident.” […]

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Obama Takes ATF Gun-Running Operation ‘Very Seriously,’ Spokesman Says

White House Press Secretary Jay Carney during his daily news briefing at the White House in Washington, Monday, March, 7, 2011. (AP Photo/Pablo Martinez Monsivais) Washington (CNSNews.com) – White House Press Secretary Jay Carney on Tuesday deflected questions about a botched ATF sting operation that allowed guns to “walk” to Mexico, but he did tell […]

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ConocoPhillips: quick response to China oil spill

SymbolPriceChangeCOP75.850.00{“s” : “cop”,”k” : “a00,a50,b00,b60,c10,g00,h00,l10,p20,t10,v00″,”o” : “”,”j” : “”} BEIJING (AP) — ConocoPhillips says it responded promptly to contain damage caused by recent oil spills off China’s eastern coast at an oil field operated by its Chinese subsidiary, after Chinese authorities said they were investigating the company’s role in the spills. ConocoPhillips said in a […]

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Nokia abandons Japan market

SymbolPriceChangeAAPL349.430.00NOK6.320.00{“s” : “aapl,nok”,”k” : “a00,a50,b00,b60,c10,g00,h00,l10,p20,t10,v00″,”o” : “”,”j” : “”} TOKYO (AP) — Nokia Corp., battered by the popularity of smartphones, is abandoning the Japanese market, after a brief foray with luxury cell phones costing as much as 20 million yen ($250,000). The Finnish handset maker is closing by the end of July its last store […]

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Portugal raises $1.2B at high rate after downgrade

LISBON, Portugal (AP) — Portugal has raised euro848 million ($1.2 billion) in a debt auction, but the high return demanded by investors underlined the country’s plight a day after its bonds were downgraded to junk status. The government debt agency said the yield in Tuesday’s sale of 3-month Treasury bills was 4.926 percent. That was […]

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