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EU Launches Probe Into Suspected Oil Price Fixing SchemeAccording to multiple sources, officials from the European Union have launched a probe into allegations that several major oil companies such as Shell and Norway's Statoil participated in a ...

Construction Spending Hits Seven Month LowThe US Commerce Department reported Wednesday that construction spending slipped last month, reaching its lowest level in seven months and prompting some economists to lower their estimates for first-quarter ...

MetroPCS Shareholders Approve merger with T-MobileThe merger of regional carrier MetroPCS with T-Mobile, the fourth largest wireless carrier in the US, came one step closer Wednesday after shareholders in the Richardson, Texas-based carrier approved ...

Ford's Focus Surpasses Toyota Corolla as World's Top-Selling VehicleFord Motor Company is riding high this week after a report from RL Polk & Company showed its Focus compact sedan unseated the Toyota Corolla as the world's best-selling vehicle in ...

US Jobless Rate Hits Four-Year LowThe US unemployment rate fell to a four-year low last month, according to a report issued Friday by the Labor Department, slipping from 7.7 percent to 7.6 percent.  The decline was unexpected by economists that ...

Pending Home Sales Rise Again in FebruaryThe National Association of Realtors on Wednesday released its report on pending home sales for February.  The report hinted at a gradual slowdown is the sales of previously owned homes across the ...

President Obama Taps Thomas Perez for Labor SecretaryAs expected, President Obama on Monday introduced US Attorney General Thomas E. Perez as his pick to replace Hilda Solis as Secretary of Labor.  If confirmed, Perez would be Obama's first ...

Airbus Scores Largest Order Ever from Indonesia's Lion AirEuropean plane maker Airbus revealed Monday that it has received its biggest-ever order for aircraft from Indonesian discount carrier Lion Air.  The order marks a significant achievement ...

McDonald's Same Store February Sales Beat the StreetThe world's largest restaurant chain revealed Friday that its same store sales fell 1.5 percent in February from the same month a year earlier, but noted that sales were impacted by one less day to ...

Michigan to Take Over Finances for Motor CityDetroit's financial health has deteriorated so far that the state of Michigan is now taking over the running of the once proud city, according to Governor Rick Snyder.  Snyder revealed the move on ...

Volkswagen Profit Surges 41 Percent but Trails EstimatesVolkswagenAG issued its 2012 full-year earnings on Friday, posting a 41 percent increase in profit but missing Wall Street estimates.  The German automaker said its profit totaled 21.7 ...

Foreclosure Starts Hit Six-Year LowSan Diego-based housing data provider RealtyTrac reported Thursday that the pace of foreclosures in the US reached a six-year low last month.  According to the report, foreclosure starts totaled 64,770 in ...

USPS Saturday Delivery to End After 150 YearsThe United States Postal Service revealed on Wednesday that it will no longer deliver mail on Saturdays after August 5th, although it did say that Saturday parcel delivery would continue.  The cash ...

US Economy Adds 157,000 Jobs in JanuaryThe US Labor Department reported Friday that the economy added a worse-than-expected 157,000 jobs in January as millions of Americans continued to struggle through unemployment and underemployment.  ...

December Brought Surprise Dip in New Home SalesThe US Commerce Department issued a disappointing reading on new home sales Friday, showing an unexpected dip and putting a damper on an otherwise upbeat year for the long-beleaguered housing ...