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Senator: Is Medicare drug plan vulnerable to exploitation?

Ricardo Alonso-Zaldivar, Associated Press  |  Posted  Jul 27th - 8:01am

A senior senator is examining whether Medicare's prescription drug benefit is vulnerable to manipulation by pharmaceutical companies that set very high prices for medications.

Spanish court convicts 11 in pyramid-scheme stamp fraud

The Associated Press  |  Posted  Jul 27th - 8:00am

Spain's National Court has sentenced 11 former company directors to prison terms of between two and 12 years for running a fraudulent multi-billion-euro (-dollar) pyramid scheme that used the savings of hundreds of thousands of small-time investors.

Fiat Chrysler raises outlook as Q2 profits jump 25 percent

Colleen Barry, Associated Press  |  Posted  Jul 27th - 8:00am

Fiat Chrysler Automobiles on Wednesday raised its earnings forecasts after reporting a 25 percent increase in second-quarter profits as SUV and truck sales offset the impact of slumping demand for passenger cars in North America.

Markets Right Now: US stocks open higher

The Associated Press  |  Posted  Jul 27th - 7:50am

The latest on developments in global financial markets (all times local):

EU Commission refrains from fining Spain, Portugal

Raf Casert, Associated Press  |  Posted  Jul 27th - 7:50am

The European Union's executive refrained Wednesday from calling for heavy fines against Spain and Portugal for breaching budget rules and sought instead to set "new fiscal paths" for the two countries.

WTO chief make case for world trade in face of criticism

The Associated Press  |  Posted  Jul 27th - 7:41am

The head of the World Trade Organization says it needs to do more to make the case for the benefits of trade in the face of claims that it has been responsible for shrinking manufacturing jobs in places like the United States.

Audit: Arkansas State study abroad program unorganized

The Associated Press  |  Posted  Jul 27th - 7:40am

Arkansas State University has begun the search for a new study abroad program director following an internal audit that says the school's study abroad programs were unorganized.

Egypt asks IMF for a 3-year loan to help struggling economy

The Associated Press  |  Posted  Jul 27th - 7:40am

Egypt is in the "final stages" of negotiating an agreement with the International Monetary Fund to secure a much-needed loan of up to $7 billion per year, according to a Cabinet statement.

Nightclub shooting latest for city seeing rise in violence

Tamara Lush, Associated Press  |  Posted  Jul 27th - 7:31am

A couple of doors down from Club Blu, where a young man and a 14-year-old boy were killed while attending a teen party, shop owner Idis Edouard hoisted a rod above his head to gently move a girl's blue dress aside.

Former snack food company exec pleads guilty to $1.4M fraud

The Associated Press  |  Posted  Jul 27th - 7:10am

A former executive with a Pennsylvania potato chip and snack food company has pleaded guilty to defrauding the company out of roughly $1.4 million.

Altria 2Q profit tops Street; raises full-year outlook

The Associated Press  |  Posted  Jul 27th - 7:01am

Altria's second-quarter profit beat analysts' estimates, helped by lower costs. The company also boosted its full-year adjusted earnings outlook.

Orders for durable goods plunged in June

Martin Crutsinger, Associated Press  |  Posted  Jul 27th - 6:50am

Orders to U.S. factories for long-lasting manufactured goods fell in June by the largest amount in nearly two years, reflecting a big decline in the volatile category of commercial aircraft. The key category that tracks business investment managed a small gain.

Coke's sales fall short of expectations on flat volume

The Associated Press  |  Posted  Jul 27th - 6:50am

Coca-Cola Co. reported disappointing sales for the second quarter on Wednesday and cut its outlook as global volume remained flat from a year ago.

Kazakh state oil company starts legal case against Romania

The Associated Press  |  Posted  Jul 27th - 6:30am

Kazakhstan's state oil company says it has initiated legal proceedings against Romania after prosecutors froze its shares in the country's largest oil refinery.

EU executive Commission refrains from fining Spain, Portugal for breaching state budget rules

The Associated Press  |  Posted  Jul 27th - 6:10am

EU executive Commission refrains from fining Spain, Portugal for breaching state budget rules .

Comcast beats Street 2Q forecasts, revenue rises

The Associated Press  |  Posted  Jul 27th - 6:10am

Comcast's second quarter was stronger than Wall Street had expected as the company narrowed the loss of video subscribers and revenue took off.

Boeing reports 2Q loss

The Associated Press  |  Posted  Jul 27th - 6:00am

Boeing Co. (BA) on Wednesday reported a second-quarter loss of $234 million, after reporting a profit in the same period a year earlier.

Pharmaceutical giant GSK invests in British sites

The Associated Press  |  Posted  Jul 27th - 5:52am

Pharmaceutical company GlaxoSmithKline announced plans Wednesday to invest some 275 million pounds ($360 million) into three plants in Britain, sweeping aside concerns about growth following the country's decision to leave the European Union.

Time is money: Delays in teacher appeals costing taxpayers

The Associated Press  |  Posted  Jul 27th - 5:30am

Delays hearing teacher appeals by the Charleston County School Board is costing taxpayers in South Carolina's second-largest school district hundreds of thousands of dollars.

VW global sales up as Europe, China growth offsets US drop

The Associated Press  |  Posted  Jul 27th - 5:10am

Volkswagen says its global sales rose 5.1 percent in June compared with a year earlier, fueled by gains in China and Europe and bolstering its performance over the year's first half. Deliveries in the U.S. were down significantly.