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  • 'Incredibles 2' crushes animation record with $180 million
    Updated: 06/17/2018 2:31 PM

    LOS ANGELES (AP) — The combined powers of superheroes, the Pixar brand and a draught of family-friendly films helped "Incredibles 2" become the best animated opening of all time, the biggest PG-rated launch ever and the 8th highest film launch overall. Disney estimated Sunday that the film earned $180 million in its first weekend in North American theaters — far surpassing industry analysts' loftiest expectations which had the film pegged for a $120 to $140 million debut. The previous animation record-holder was another Pixar sequel, "Finding Dory," which had a $135 million launch in 2016.
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  • Laid off when casinos closed, back to work with reopenings
    Updated: 06/17/2018 2:14 PM

    ATLANTIC CITY, N.J. (AP) — When Revel, Atlantic City's $2.4 billion casino shut down in 2014, Meg Timson wondered what would happen to a building that was only about two years old, and already out of business. Turns out she didn't need to worry: She's been rehired for her human resources job now that the casino is reopening under new ownership and a new name: the Ocean Resort Casino. "It feels like I never left," she said. "I sat down at my same desk, opened the drawer, and there was a ChapStick that I left there four years ago.
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  • Ford: Detroit train station key to autonomous vehicle plans
    Updated: 06/17/2018 12:13 AM

    DETROIT (AP) — Bill Ford looks past the tons of paint, plaster and steel needed to remake Detroit's blighted Michigan Central train station and sees more than just an iconic building in desperate need of a makeover. The executive chairman of Ford Motor Co. and great-grandson of founder Henry Ford envisions the future of the carmaker's foray into self-driving vehicles. Ford Motor Co. is embarking on a 4-year renovation of the 105-year-old depot and 17-story office tower just west of downtown. The massive project is expected to increase the automaker's footprint in the city where the company was founded, provide space for electric and autonomous vehicle testing and research, and spur investment in the surrounding neighborhood.
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  • Trump to nominate OMB official to lead consumer watchdog
    Updated: 06/16/2018 10:43 PM

    WASHINGTON (AP) — President Donald Trump intends to nominate an associate director at the Office of Management and Budget to lead the government's consumer watchdog agency, the White House announced Saturday. In a statement announcing the decision, spokeswoman Lindsay Walters said Kathy Kraninger "will bring a fresh perspective and much-needed management experience" to the Consumer Financial Protection Bureau, which the administration has been trying to rebrand as the Bureau of Consumer Financial Protection.
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  • American to pay $45M to settle airfare collusion lawsuit
    Updated: 06/16/2018 2:20 PM

    NEW YORK (AP) — American Airlines has agreed to pay $45 million to settle a lawsuit that says it and other major U.S. airlines colluded to drive up the price of airfares. In settling the case, American denied any wrongdoing. The company, in a statement, said fighting the case in court would be costly. Earlier this year, Southwest Airlines also reached a settlement in the case, agreeing to pay $15 million. Southwest also denied any wrongdoing. The lawsuit alleges that major U.S. airlines colluded to limit capacity in order to increase ticket prices.
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  • Clothing maker Perry Ellis to go private in $437M buyout
    Updated: 06/16/2018 12:40 PM

    NEW YORK (AP) — Perry Ellis International says its founder George Feldenkreis is buying shares of the clothing company that he and his family don't already own and taking it private. As a private company, Feldenkreis says Perry Ellis can invest more money in marketing and technology at a time when more people are shopping online. Feldenkreis will have a more active role in managing the company after the deal closes, which is expected to happen sometime in the second half of this year. Feldenkreis, through a newly created company, will pay $27.50 for each share of Perry Ellis, or about $437 million.
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  • Import now to beat tariffs on goods from China? It will cost
    Updated: 06/16/2018 10:05 AM

    New tariffs on imports from China may leave American companies with a choice — pay a higher freight bill now or pay the tariffs starting in three weeks. It can take several weeks for ship-borne cargo from China to reach the United States — too late to beat the July 6 deadline. That could lead to more demand in the short run for air-freight services. "The only question is how much do you want to pay," said Brandon Fried, executive director of the Airforwarders Association, "and which is better — paying that or paying the increased tariff?" Shipping by air is several times more costly than ocean shipping and the gap grows the heavier the cargo.
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  • Why many Americans aren't benefiting from robust US economy
    Updated: 06/16/2018 9:53 AM

    WASHINGTON (AP) — "The economy," Federal Reserve Chairman Jerome Powell declared this week, "is doing very well." And it is. Steady hiring has shrunk unemployment to 3.8 percent — the lowest since the 1960's. Consumers are spending. Taxes are down. Inflation is tame. Factories are busy. Demand for homes is strong. Household wealth is up. Yet the numbers that collectively sketch a picture of a vibrant economy don't reflect reality for a range of Americans who still feel far from financially secure even nine years into an economic expansion.
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  • China hikes tariffs on US soybeans, electric cars, fish
    Updated: 06/16/2018 5:48 AM

    BEIJING (AP) — China fired back Saturday in a spiraling trade dispute with President Donald Trump by raising import duties on a $34 billion list of American goods including soybeans, electric cars and whiskey. The government said it was responding in "equal scale" to Trump's tariff hike on Chinese goods in a conflict over Beijing's trade surplus and technology policy that companies worry could quickly escalate and chill global economic growth. China "doesn't want a trade war" but has to "fight back strongly," said a Commerce Ministry statement.
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  • Trump's tariffs: What they are and how China is responding
    Updated: 06/15/2018 8:17 PM

    WASHINGTON (AP) — President Donald Trump just imposed tariffs on hundreds of Chinese products — from X-ray tubes to incinerators. And Beijing is striking back by targeting U.S. soybeans, beef, seafood and other products. The punch-and-counterpunch announced Friday in Washington and Beijing moved the world's two largest economies perilously near a trade war that would inflate prices for consumers, disrupt the flow of goods and perhaps slow a global economy that has been enjoying its healthiest expansion in a decade.
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