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Average US rate on 30-year mortgage falls to 3.65 percent

The Associated Press  |  Posted  Feb 11th - 8:20am

Average long-term U.S. mortgage rates fell this week for the sixth straight week as markets around the globe continued the whipsaw trading that has marked this year so far.

Rio Tinto posts $866M loss, blames deteriorating economy

The Associated Press  |  Posted  Feb 11th - 8:17am

Mining company Rio Tinto said Thursday it suffered a loss of $866 million in 2015 as deteriorating economic conditions around the world pressured prices of commodities such as iron ore and coal.

Reynolds American 4Q profit jumps, but misses forecasts

The Associated Press  |  Posted  Feb 11th - 8:10am

Cigarette maker Reynolds American's fourth-quarter profit shot up 89 percent compared to the final quarter of 2014, when earnings fell due to some one-time costs.

2 Uber execs facing jail in France amid tensions with taxis

Philippe Sotto, Associated Press  |  Posted  Feb 11th - 8:00am

Two top Uber executives appeared Thursday in court in charges that could send them to prison and offer the ride-hailing company one of its most serious legal challenges to date in France.

The Latest: US stocks join the global market slump

The Associated Press  |  Posted  Feb 11th - 7:52am

The latest on the turmoil afflicting global financial markets (all times local):

PepsiCo's revenue in North America climbs, helped by pricing

Candice Choi, Associated Press  |  Posted  Feb 11th - 7:40am

PepsiCo said revenue for its North American snacks and drinks units rose in the fourth quarter, boosted by pricing.

Head of Google in Europe grilled by UK tax authorities

Danica Kirka, Associated Press  |  Posted  Feb 11th - 7:30am

A British parliamentary committee has grilled Google's head of European operations, questioning in blunt terms whether the Internet giant had paid its fair share of taxes.

N. Korea orders military takeover of inter-Korean factories

Ahn Young-Joon, Associated Press  |  Posted  Feb 11th - 7:30am

North Korea on Thursday ordered a military takeover of a factory park that had been the last major symbol of cooperation with South Korea, calling Seoul's earlier suspension of operations at the jointly run facility as punishment for the North's recent rocket launch a "dangerous declaration of war."

Fantasy sports companies defend embattled industry

Philip Marcelo, Associated Press  |  Posted  Feb 11th - 7:30am

Daily fantasy sports companies say their industry remains viable despite a rocky start to 2016.

Poland approves child benefits to aid families, boost births

Vanessa Gera, Associated Press  |  Posted  Feb 11th - 7:20am

Polish lawmakers passed a new child benefit scheme Thursday which will give monthly payments of 500 zlotys ($125) for all second and subsequent children in a family.

Grain higher, livestock mixed

The Associated Press  |  Posted  Feb 11th - 8:40am

Grain futures were higher Thursday in early trading on the Chicago Board of Trade.

Congress likely to give final OK to local Internet tax ban

Alan Fram, Associated Press  |  Posted  Feb 11th - 8:30am

State and local governments would be permanently barred from taxing access to the Internet under a bipartisan compromise the Senate began pushing toward final congressional approval.

Medical pot advocates oppose proposed Rhode Island plant tax

The Associated Press  |  Posted  Feb 11th - 8:20am

Medical marijuana advocates are opposing an annual $350-per-plant fee that Democratic Gov. Gina Raimondo wants to impose on some growers as part of her revenue plan.

Indonesia warns messaging apps to drop same-sex emoticons

Niniek Karmini, Associated Press  |  Posted  Feb 11th - 8:20am

Indonesia's government has demanded that instant messaging apps remove stickers featuring same-sex couples, in the latest high-profile attempt to discourage visible homosexuality in the socially conservative country.

TransCanada takes 4Q hit after Obama blocks Keystone XL

The Associated Press  |  Posted  Feb 11th - 8:20am

Energy company TransCanada Corp. says it lost US$1.79 billion (CA$2.5 billion) in the fourth quarter, mostly because of its stalled Keystone XL pipeline proposal.

Authorities reach $3.2B settlement with Morgan Stanley

Michael Virtanen, Associated Press  |  Posted  Feb 11th - 8:01am

Federal and state authorities on Thursday announced a $3.2 billion settlement with Morgan Stanley over bank practices that contributed to the 2008 financial crisis, including misrepresentations about the value of mortgage-backed securities.

Italy passes bank reforms, but shares drop further

The Associated Press  |  Posted  Feb 11th - 7:40am

Italian bank shares continue to slide despite the Cabinet's approval of a batch of long-awaited banking reforms.

Russia's ruble tumbles amid market turmoil

The Associated Press  |  Posted  Feb 11th - 7:10am

Russia's ruble has dropped nearly 2 percent amid the turmoil affecting global stock markets and oil prices.

Ex-executive due for sentencing in West Virginia spill

The Associated Press  |  Posted  Feb 11th - 7:00am

A former Freedom Industries executive is due in federal court for sentencing on a pollution charge in a chemical spill that fouled the drinking water supply of 300,000 West Virginians.