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News Summary: 'Pink slime' maker sues ABC News

Submitted by Fox First at Ten on September 13th

By The Associated Press THE LAWSUIT: Beef Products Inc. filed a defamation lawsuit against ABC News for its coverage of a meat product that critics have dubbed "pink slime," alleging that the network misled consumers into believing that the product is unhealthy and unsafe. THE DETAILS: The meat

United Technologies to resume share buyback in '13

Submitted by Fox First at Ten on September 13th

HARTFORD, Conn. (AP) - The chief executive of United Technologies Corp. said Thursday that share buybacks of up to $1 billion will resume in 2013, more than a year after repurchases were suspended as the conglomerate bought Goodrich Corp. for $18.4 billion. The amount is half of repurchases

Nordstrom to expand into Canada

Submitted by Fox First at Ten on September 13th

By ANNE D'INNOCENZIOAP Retail Writer NEW YORK (AP) - Upscale department store chain Nordstrom Inc. is heading to Canada, starting in the fall of 2014, its first move outside the U.S. The announcement, made at a press conference Thursday in Toronto, comes as a slew of other retailers flock

Nissan recalls 51,000 cars after steering fault

Submitted by Fox First at Ten on September 13th

HELSINKI (AP) - Nissan Motor Co. says it is recalling 51,000 cars worldwide after a defect caused a steering wheel in one of its models sold in Finland to become detached. Nissan Nordic Europe spokeswoman Taina Erkkila says the defect likely would mean replacing parts in some 600 recalled vehicles

News Summary: Casino boom aims for Asia's new rich

Submitted by Fox First at Ten on September 13th

By The Associated Press ROLLING DICE: Massive casino projects in the Philippines, South Korea and Russia are part of a casino building boom rolling across Asia, where governments are trying to develop their tourism markets to capture increasingly affluent Asians. DOUBLE DOWN: They're

One way to invest: Trade just like Uncle Herb

Submitted by Fox First at Ten on September 13th

By CHRISTINA REXRODEAssociated Press NEW YORK (AP) - To the long list of investing strategies, add this: I'll have what she's having. That's the idea behind Ditto Trade, an online brokerage for anyone who has a lot of faith in the cousin, best friend or next-door neighbor who's

Oil rises after Fed takes steps to boost economy

Submitted by Fox First at Ten on September 13th

By The Associated Press NEW YORK (AP) - The price of oil closed above $98 a barrel for the first time in more than four months after the U.S. Federal Reserve announced aggressive steps to boost the U.S. economy. The Fed said Thursday it will spend $40 billion a month to buy mortgaged-back

Average on 30-year US mortgage stays at 3.55 pct.

Submitted by Fox First at Ten on September 13th

By MARCY GORDONAP Business Writer WASHINGTON (AP) - The average rate on the 30-year fixed mortgage held steady this week, staying slightly above the lowest level on record. Low mortgage rates have aided a modest housing recovery. Mortgage buyer Freddie Mac said Thursday that the rate on the 30-

How US states fared on jobless aid applications

Submitted by Fox First at Ten on September 13th

By The Associated Press More Americans sought unemployment benefits last week, although the figures were skewed in part by Hurricane Isaac. The Labor Department said applications for jobless aid rose by 15,000 to a seasonally adjusted 382,000. Isaac increased applications by about 9,000, the

Lamborghini recalling cars due to risk of fire

Submitted by Fox First at Ten on September 13th

DETROIT (AP) - Italian sports car maker Lamborghini is recalling some Gallardo models because power steering fluid can leak and catch fire. The recall affects about 1,500 Gallardo Coupe and Spyder autos, from model years 2004 to 2006. The cars start at about $200,000. Lamborghini says in documents