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Public Citizen: State drug fraud cases on the rise

Submitted by Fox First at Ten on September 27th

By MATTHEW PERRONEAP Health Writer WASHINGTON (AP) - Federal and state prosecutors have collected more than $30 billion from drug companies for alleged fraud and illegal marketing over the last 20 years, according to a new report by consumer advocacy group Public Citizen. The report shows that

Rate on 30-year mortgage hits record low 3.40 pct.

Submitted by Fox First at Ten on September 27th

By MARCY GORDONAP Business Writer WASHINGTON (AP) - Average U.S. rates on fixed mortgages fell again to new record lows. The decline suggests the Federal Reserve's stimulus efforts may be having an impact on mortgage rates. Mortgage buyer Freddie Mac said Thursday that the rate on the 30-

Contracts to buy US homes fell slightly in August

Submitted by Fox First at Ten on September 27th

By CHRISTOPHER S. RUGABERAP Economics Writer WASHINGTON (AP) - The number of Americans who signed contracts to buy previously occupied homes fell in August from a two-year high in July. The National Association of Realtors said Thursday that its index of sales agreements dropped 2.6 percent

Victim 1 in Jerry Sandusky trial has book deal

Submitted by Fox First at Ten on September 27th

By HILLEL ITALIEAP National Writer NEW YORK (AP) - A key witness against convicted child molester and former Penn State assistant football coach Jerry Sandusky, known in court papers as Victim 1, has a book deal and will soon reveal his identity, a publisher announced Thursday. Ballantine

Discover 3Q profit slips, but tops Street view

Submitted by Fox First at Ten on September 27th

By MARK JEWELLAP Business Writer BOSTON (AP) - Discover Financial Services shares rose more than 7 percent Thursday, after the company said credit card use increased and more customers paid off their card balances on time in its fiscal third quarter. That news overshadowed a slight earnings

US durable orders fall, but business investment up

Submitted by Fox First at Ten on September 27th

By MARTIN CRUTSINGERAP Economics Writer WASHINGTON (AP) - Demand for long-lasting manufactured goods plunged in August because of a huge drop in volatile commercial aircraft orders. But in a hopeful sign, orders that reflect business investment plans rose. The Commerce Department said Thursday

US unemployment aid applications at 2-month low

Submitted by Fox First at Ten on September 27th

By CHRISTOPHER S. RUGABERAP Economics Writer WASHINGTON (AP) - The number of Americans seeking unemployment benefits plunged 26,000 last week to a seasonally adjusted 359,000, a hopeful sign for the job market. It's the lowest level of weekly applications in nine weeks. The Labor Department

US economy grew 1.3 percent rate in second quarter

Submitted by Fox First at Ten on September 27th

By MARTIN CRUTSINGERAP Economics Writer WASHINGTON (AP) - The U.S. economy grew at a sluggish 1.3 percent annual rate in the April-June quarter, held back by the severe drought that reduced farm production in the Midwest. The growth rate was lowered from a previous estimate of 1.7 percent, the

Peugeot Citroen CEO: no recovery for years

Submitted by Fox First at Ten on September 27th

By GREG KELLERAP Business Writer PARIS (AP) - The chief executive of PSA Peugeot Citroen, France's largest carmaker, admits his company is "in the eye of the hurricane" as Europe's car makers face an expected 6th straight year of falling sales in 2013. And things aren't expected to

China's biggest steelmaker shuts mill

Submitted by Fox First at Ten on September 27th

By JOE McDONALDAP Business Writer BEIJING (AP) - China's biggest steelmaker said Thursday it has shut down a mill in Shanghai in a new sign of weakening growth in the world's second-largest economy. Baosteel Group's announcement adds to a drumbeat of bad news including a decline in