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Cost cuts at Coca-Cola go deeper, including jobs
Updated: 04/25/2017 10:25 AM

ATLANTA (AP) — Coca-Cola's sales declined in the first quarter as it restructured its business, and the world's biggest beverage maker said it will trim 1,200 jobs starting later this year as it deepens its cost cutting. The maker of Fanta, Sprite and Smartwater has about 100,300 employees worldwide, according to FactSet, meaning the job cuts would represent about 1 percent of its workforce. Coca-Cola said the cuts would help it find another $800 million in annualized savings, in addition to the $3 billion it previously said it is trimming.
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US new-home sales climb to 8-month high in March
Updated: 04/25/2017 10:25 AM

WASHINGTON (AP) — U.S. sales of new homes shot up in March to the fastest pace in 8 months, as more Americans are upgrading their houses in a positive sign for the broader economy. The Commerce Department said Tuesday that new-home sales rose 5.8 percent last month to a seasonally adjusted annual rate of 621,000, the highest rate since July last year. Sales are running 12 percent higher during the first three months of this year than during the same period in 2016. Homebuilding helps to feed growth across the economy.
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The Latest: Wells Fargo executives apologize to shareholders
Updated: 04/25/2017 10:21 AM

PONTE VEDRA BEACH, Fla. (AP) — The Latest on Wells Fargo's annual meeting after a scandal over the bank's sales practices (all times local): 10:10 a.m. The chairman of Wells Fargo's board of directors and its CEO are apologizing to shareholders after a scandal over sales practices. Chairman Stephen Sanger said, "We are deeply sorry," as he addressed shareholders at the bank's annual shareholders meeting Tuesday. And CEO Tim Sloan calls it "unacceptable." A big item at the meeting will be whether shareholders oust the board.
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Healthy profits for McDonald's, others vault stocks higher
Updated: 04/25/2017 10:19 AM

NEW YORK (AP) — Profits are climbing for companies, and so are their stock prices. More big businesses joined the earnings parade Tuesday, saying they earned even more in the first three months of the year than analysts were expecting, including Caterpillar and McDonald's. The gains put U.S. indexes on track to add to their big gains from Monday. KEEPING SCORE: The Standard & Poor's 500 index rose 15 points, or 0.6 percent, to 2,389 as of 10:05 a.m. Eastern time. The Dow Jones industrial average climbed even more due to the big gains for Caterpillar and McDonald's, which are both among the 30 stocks in the average.
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Emirates CEO says US laptop carry-on ban still puzzles him
Updated: 04/25/2017 10:19 AM

DUBAI, United Arab Emirates (AP) — The chairman and CEO of Dubai's long-haul carrier Emirates said Tuesday he "can't dig into somebody's mind" to understand why the U.S. instituted a ban on laptops and other personal electronics in carry-on luggage from 10 cities in Muslim-majority countries. However, Sheikh Ahmed bin Saeed Al Maktoum said he believes U.S. President Donald Trump is a businessman who "wouldn't want to affect American business" in his decisions. Sheikh Ahmed's careful phrasing mirrored that of his rival, Qatar Airways CEO Akbar al-Baker, the day before at the Arabian Travel Market exhibition in Dubai.
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US consumer confidence dips in April but remains strong
Updated: 04/25/2017 10:18 AM

WASHINGTON (AP) — U.S. consumer confidence slipped in April but remains at high levels. The Conference Board, a business research group, says its consumer confidence index registered 120.3 this month, down from 124.9 in March, which was the highest reading in 16 years. Americans' assessment of current conditions and their expectations for the future both dipped this month. Their outlook for the jobs market also dimmed. Still, consumers' spirits have risen sharply since the Nov. 8 election of President Donald Trump.
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JetBlue's profit sinks 59 percent as fuel costs rise
Updated: 04/25/2017 10:17 AM

NEW YORK (AP) — JetBlue's first-quarter profit sank 59 percent from a year ago as fuel costs and other expenses rose and the airline made less revenue from every seat flown. But the airline's earnings still beat Wall Street expectations and its shares rose more than 4 percent Tuesday morning. The carrier said revenue for every seat flown one mile, a figure that is closely watched in the airline business, fell 5 percent from a year ago. CEO and President Robin Hayes said the company "took quick actions" to improve those numbers, which he said were below its expectations.
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Google targets 'fake news,' offensive search suggestions
Updated: 04/25/2017 10:04 AM

SAN FRANCISCO (AP) — Google has sprinkled some new ingredients into its search engine in an effort to prevent bogus information and offensive suggestions from souring its results. The changes have been in the works for four months, but Google hadn't publicly discussed most of them until now. The announcement in a blog post Tuesday reflects Google's confidence in a new screening system designed to reduce the chances that its influential search engine will highlight untrue stories about people and events, a phenomenon commonly referred to as "fake news.
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The Latest: Trump says he hasn't changed position on wall
Updated: 04/25/2017 10:01 AM

WASHINGTON (AP) — The Latest on Congress and efforts to avert a government shutdown by week's end (all times local): 9:45 a.m. President Donald Trump says that he hasn't changed his position on building a border wall between the U.S. and Mexico. Trump tweeted Tuesday, "Don't let the fake media tell you that I have changed my position on the WALL. It will get built and help stop drugs, human trafficking etc." Trump told a gathering of around 20 conservative media reporters Monday evening that he would be willing to return to the wall funding issue in September.
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Russia to supply power to rebel-controlled eastern Ukraine
Updated: 04/25/2017 9:55 AM

MOSCOW (AP) — In a move that further cements Russia's control over parts of eastern Ukraine, Russian officials announced Tuesday that they will begin supplying electricity to separatist-controlled areas in eastern Ukraine after the Ukrainian government cut the power off because of millions in unpaid bills. Kremlin spokesman Dmitry Peskov described the decision as a humanitarian mission — helping to keep an estimated 3 million people out of darkness — but would not say exactly when or how the power supply will be flowing into the rebel-controlled Luhansk region that borders Russia.
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