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Senate sends 2nd school-funding revamp to House

The Associated Press  |  Posted  May 27th - 1:41pm

The Illinois Senate has approved a second method for revamping school funding just days before the Legislature's scheduled adjournment.

Grain mostly higher, livestock mostly higher

The Associated Press  |  Posted  May 27th - 1:40pm

Grain futures were mostly higher Friday on the Chicago Board of Trade.

Google-backed Magic Leap alleges workers stole its secrets

The Associated Press  |  Posted  May 27th - 1:40pm

Artificial reality startup Magic Leap is accusing two Silicon Valley employees of stealing the closely guarded secrets that make its technological tricks work.

House, Senate to meet to draft final state budget proposal

Bob Salsberg, Associated Press  |  Posted  May 27th - 1:20pm

House and Senate negotiators will likely begin meeting next week to draft a final state budget proposal after the Senate gave final approval to a $39.5 billion spending plan for the fiscal year starting July 1.

Verizon, unions reach deal in principle for 4-year contract

The Associated Press  |  Posted  May 27th - 1:20pm

Striking Verizon employees may be back to work next week after the company and its unions reached an agreement in principle for a four-year contract.

Janet Yellen says Fed could raise rates in coming months

Martin Crutsinger and Steve Leblanc, Associated Press  |  Posted  May 27th - 1:01pm

Federal Reserve Chair Janet Yellen said Friday that an interest rate hike would be appropriate in the coming months if the economy keeps improving.

World's largest hedge fund gets aid package from Connecticut

Susan Haigh, Associated Press  |  Posted  May 27th - 1:00pm

A commission approved a $22 million loan and grant package on Friday to help the world's largest hedge fund upgrade and expand its offices despite questions about whether the deal makes financial sense for a state facing continued budget problems.

Alibaba won and lost a friend in Washington; how it happened

Erika Kinetz and Desmond Butler, Associated Press  |  Posted  May 27th - 12:51pm

In 2011, a respected anti-counterfeiting coalition in Washington escalated its fight against the Chinese e-commerce giant Alibaba, saying its websites served as a 24-hour market "for counterfeiters and pirates" and should be blacklisted.

Education Department replaces career college chain monitor

Jeff Horwitz, Associated Press  |  Posted  May 27th - 12:51pm

The Education Department has appointed a new law firm to oversee the turnaround of schools once owned by Corinthian Colleges Inc.

Feds propose closing sheep grazing in west-central Idaho

Keith Ridler, Associated Press  |  Posted  May 27th - 12:50pm

Federal officials have released a plan to close about 30 square miles of grazing allotments to domestic sheep and goats in west-central Idaho to protect bighorn sheep from diseases.

Crowd thins slightly at NC furniture market after LGBT law

Emery P. Dalesio, Associated Press  |  Posted  May 27th - 12:41pm

Attendance dipped slightly for North Carolina's world-renowned furniture market this year in an early test of business reaction to the state's new law limiting protections for LGBT people.

Congress' grade so far? Incomplete at best

Andrew Taylor, Associated Press  |  Posted  May 27th - 12:41pm

Congress is racing toward its summer break, but like a procrastinating college kid it has tons of work to catch up on to avoid a report card laden with grades of incomplete or even worse.

SC State's $12M debt to be forgiven, $6M must be repaid

Seanna Adcox, Associated Press  |  Posted  May 27th - 12:41pm

South Carolina State University would be free from $12 million in state loans but would have to repay $6 million over the next 16 years under a budget clause approved by legislators.

Venezuela boy's death sparks anger over health care crisis

The Associated Press  |  Posted  May 27th - 12:11pm

Venezuelans are expressing dismay over the death of an 8-year-old boy with non-Hodgkin's lymphoma who had become a symbol of the crisis-wracked nation's collapsed health care system.

Emotional budget hearing as people plead for health services

Melinda Deslatte, Associated Press  |  Posted  May 27th - 12:11pm

Parents of children with developmental disabilities chastised state lawmakers, describing it as unconscionable they have to return year after year to plead for financing for children's health services.

Justin Bieber, Skrillex sued for copyright infringement

The Associated Press  |  Posted  May 27th - 12:10pm

Justin Bieber and Skrillex have been sued for copyright infringement by singer-songwriter Casey Dienel for the multi-platinum song "Sorry."

Economy grew at 0.8 percent rate in first quarter

The Associated Press  |  Posted  May 27th - 11:21am

Economists are encouraged by the government's report today that the economy grew at an annual rate of eight-tenths of one percent in the first quarter.

Defying critics, Libya's eastern bank prints its own money

Rami Musa, Associated Press  |  Posted  May 27th - 11:11am

Libya's cash-strapped eastern central bank announced it had printed its own bank notes Friday, overcoming initial opposition from the U.N.-backed western government but sparking concern at the divided country's ability to develop coherent monetary and economic policies.

Lager law: Attorneys' guild formed for craft brewers, others

Jeff Karoub, Associated Press  |  Posted  May 27th - 11:10am

A legal trade group has been formed for the makers of craft beer and other alcoholic beverages, recognizing the rapid rise of the industry and a desire to deal with a thick brew of regulations across the U.S.