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US stocks extend gains to a 5th day as tech companies rise

Marley Jay, Associated Press  |  Posted   May 24th - 1:49pm

U.S. stocks are up for the fifth consecutive day Wednesday as the market keeps chipping away at the losses it suffered one week ago. High-dividend stocks are rising and banks and bond yields have weakened as the Federal Reserve gave more signs it will start reducing its huge portfolio of bonds later this year.

Grain mixed, livestock mixed

The Associated Press  |  Posted   May 24th - 1:49pm

Grain futures were lower Wednesday on the Chicago Board of Trade.

Grain mixed, livestock mixed

The Associated Press  |  Posted   May 24th - 1:49pm

Grain futures were lower Wednesday on the Chicago Board of Trade.

AP FACT CHECK: Trump's suspect claim about Iran's collapse

Bradley Klapper, Associated Press  |  Posted   May 24th - 1:39pm

As President Donald Trump tells it, Iran would be a collapsed state by now if only the Obama administration had refused the 2015 deal that eased economic sanctions in return for a freeze on Iranian nuclear development. This starved-into-submission scenario, however, doesn't fit with the circumstances of that time.

Treasury chief to Congress: Raise debt limit before August

Andrew Taylor, Associated Press  |  Posted   May 24th - 1:39pm

Treasury Secretary Steven Mnuchin told lawmakers on Wednesday that they should vote to increase the government's borrowing authority — and avert a disastrous economic default — before their August recess.

Americans don't trust media, but feel better about favorites

David Bauder, Associated Press  |  Posted   May 24th - 1:39pm

While Americans have doubts about how much they should trust the "news media" in general, a poll by the Media Insight Project released Wednesday suggests they have a higher opinion of the sources they personally rely upon to follow the world.

After breaking even, NY City Opera stays with reduced season

Ronald Blum, Associated Press  |  Posted   May 24th - 1:39pm

After breaking even in its first full season since emerging from bankruptcy, New York City Opera says it will stick with a reduced schedule of four main-stage productions in 2017-2018 and doesn't envision getting much larger.

Wyoming lawmakers consider tax increases to meet deficits

The Associated Press  |  Posted   May 24th - 1:39pm

A legislative committee's task of finding new sources of revenue for Wyoming coffers includes looking at new taxes or increasing existing taxes.

UPDATED

Trump budget chief defends plan in face of opposition

Andrew Taylor, Associated Press  |  Posted   May 24th - 1:38pm

The White House budget chief on Wednesday delivered a spirited defense of President Donald Trump's proposal to slash programs from food stamps to health care for the poor in the face of strong Democratic opposition and Republican skepticism.

Moody's cuts China credit rating over rising debt

Joe McDonald, Associated Press  |  Posted   May 24th - 1:21pm

The Moody's ratings agency on Wednesday cut China's credit rating due to surging debt, prompting a protest by Beijing and highlighting challenges faced by Communist leaders as they overhaul a slowing economy.

Odebrecht offices raided in Argentina

The Associated Press  |  Posted   May 24th - 1:21pm

Argentine federal agents searched the offices of the Brazilian construction conglomerate Odebrecht in Buenos Aires Wednesday as part of an investigation into alleged bribes in the granting of construction contracts for a water treatment plant.

Wildfire forces evacuations at Washington state tourism spot

Poplmb, Associated Press  |  Posted   May 24th - 1:21pm

A wildfire that started at an old log-storage site has prompted evacuation orders for 168 homes and cabins at a popular Washington state hiking and skiing destination, officials said Wednesday.

Trump team eyes public asset sales to pay for infrastructure

The Associated Press  |  Posted   May 24th - 1:21pm

The Trump administration is eyeing plans to encourage the sale of public assets, such as airports and bridges, to help pay for a $1 trillion overhaul of the nation's aging infrastructure, an administration official said Wednesday.

UPDATED

UK investigates 'network' of alleged Manchester attackers

Jill Lawless, Maggie Michael and Gregory Katz, Associated Press  |  Posted   May 24th - 1:20pm

British security forces raided an apartment building Wednesday in central Manchester as they investigated a network of people allegedly behind the city's concert bombing. Hundreds of soldiers were sent to secure key sites across the country, including Buckingham Palace and Parliament.

Lowe's weak quarter stands in contrast to rival Home Depot

The Associated Press  |  Posted   May 24th - 1:07pm

Home-improvement retailer Lowe's posted a profit Wednesday that didn't impress Wall Street, results that came in stark contrast to those of its rival Home Depot.

Fed minutes: Officials back reducing bond holdings this year

Martin Crutsinger, Associated Press  |  Posted   May 24th - 1:07pm

Federal Reserve officials signaled in discussions early this month that they would likely start reducing the Fed's huge portfolio of bond holdings later this year, a step that could cause borrowing rates to rise.

House OKs bill making nude photo sharing in military a crime

Richard Lardner, Associated Press  |  Posted   May 24th - 1:06pm

The House has unanimously approved legislation that makes it a crime for U.S. service members to distribute intimate photos or videos of people without first getting their consent.

Mnuchin wants gov't borrowing limit raised before August

The Associated Press  |  Posted   May 24th - 1:00pm

The Latest on President Donald Trump's budget (all times local):

Fox moves to dismiss lawsuit by ex-host Andrea Tantaros

The Associated Press  |  Posted   May 24th - 12:58pm

Fox News Channel asked a federal court on Wednesday to throw out a lawsuit by former host Andrea Tantaros, saying her claims that "sock puppet" Twitter accounts were set up to harass her were false.

AP FACT CHECK: Budget chief slams Obama growth forecast

Josh Boak, Associated Press  |  Posted   May 24th - 12:48pm

Trump budget director Mick Mulvaney, defending an administration that promises more economic growth than many think it can deliver, said Tuesday it's the Obama administration that went overboard in its forecasts for growth. His indictment glosses over significant differences in the economy now and then.