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Iran, Spanish company sign $615 million deal for oil pipes

The Associated Press  |  Posted   May 24th - 6:47am

Iran on Wednesday signed a deal worth $615 million — or euros 550 million — with a Spanish-Iranian consortium under which the group will provide pipes used in Iran's oil industry.

AP FACT CHECK: Budget chief slams Obama growth forecast

Josh Boak, Associated Press  |  Posted   May 24th - 6:47am

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.

UK deploys 1,000 soldiers to protect key sites after bombing

Jill Lawless and Gregory Katz, Associated Press  |  Posted   May 24th - 6:47am

British security forces arrested three more suspects Wednesday in connection with the Manchester concert bombing and sent hundreds of soldiers to secure key sites across the country, including Buckingham Palace and the British Parliament at Westminster.

Moody's cuts China credit rating over rising debt

Joe McDonald, Associated Press  |  Posted   May 24th - 6:30am

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.

China blocks online broadcast of computer go match

Joe McDonald, Associated Press  |  Posted   May 24th - 6:13am

Internet users outside China watched a computer defeat its national go champion, but few Chinese web surfers could see it.

Lowe's weak quarter stands in stark contrast to retail rival

The Associated Press  |  Posted   May 24th - 6:11am

A hefty charge cut into first-quarter sales at Lowe's and investors were unimpressed by the retailer's profit, sending shares down sharply in early trading.

Trump's food stamp cuts face hard sell in Congress

Mary Clare Jalonick, Associated Press  |  Posted   May 24th - 5:51am

President Donald Trump's proposal to slash food stamps by a third will be a hard sell in Congress, even as Republicans have tried repeatedly to scale back the program's $70 billion annual cost.

Spirit Airlines opens $32 million hangar at Detroit airport

The Associated Press  |  Posted   May 24th - 5:42am

A $32 million maintenance hangar at Detroit Metropolitan Airport has opened as part of efforts to ensure safety among Spirit Airlines' fleet.

Businessman gets 15-year sentence in UAE dispute

The Associated Press  |  Posted   May 24th - 5:40am

A court has sentenced a businessman accused of stealing $1.5 billion while working for a sheikhdom in the United Arab Emirates to 15 years in prison.

Markets brush aside China rating downgrade

The Associated Press  |  Posted   May 24th - 5:31am

Global stock markets traded in narrow ranges Wednesday, with investors brushing aside Moody's decision to cut China's debt rating.

NATO chief welcomes increased US defense spending in Europe

The Associated Press  |  Posted   May 24th - 5:20am

NATO's chief is welcoming a defense spending boost in the new U.S. budget and says it's a sign of Washington's support for security in Europe.

OPEC likely to extend output cuts into next year

George Jahn, Associated Press  |  Posted   May 24th - 5:14am

The OPEC oil cartel and other producers, notably Russia, are this week expected to extend last year's production cut in a concerted attempt to prevent oil prices from falling.

Women CEOs earned more last year, but few were in top job

Joseph Pisani, Associated Press  |  Posted   May 24th - 5:04am

Women CEOs earned big bucks last year, but there's still very few of them running the world's largest companies.

Fiery tanker-truck blast on California highway kills driver

The Associated Press  |  Posted   May 24th - 4:20am

The driver of a tanker truck is dead after a series of fiery explosions on a California highway, when his truck burst into flames as it was delivering gasoline.

Turkey orders 139 detained for suspected links to cleric

The Associated Press  |  Posted   May 24th - 4:02am

Turkey's state-run news agency says authorities have issued detention warrants for 139 public employees who are suspected of links to U.S.-based cleric Fethullah Gulen, accused by Turkey of orchestrating last summer's failed coup.

Budget office to gauge health bill effect on coverage, cost

Alan Fram and Ricardo Alonso-Zaldivar, Associated Press  |  Posted   May 24th - 3:14am

Congressional Republicans are about to learn more about whether their drive to dismantle President Barack Obama's health care law has been worth the political pain they've been experiencing.

China's Geely buys stakes in Malaysia's Proton, Lotus

Eileen By and Joe McDonald, Associated Press  |  Posted   May 24th - 3:12am

The Chinese owner of Sweden's Volvo Cars agreed Wednesday to buy 49.9 percent of Malaysian automaker Proton, gaining a platform to expand into Southeast Asia.

Denmark's Dong Energy sells its oil, gas business to INEOS

The Associated Press  |  Posted   May 24th - 3:00am

Denmark's Dong Energy has reached an agreement to divest its oil and gas business to privately held chemicals group INEOS, saying it has reached its goal announced in November of transforming itself "into a leading, pure play renewables company."

Trump's health care budget means deep cuts for safety net

Ricardo Alonso-Zaldivar, Associated Press  |  Posted   May 24th - 2:52am

Candidate Donald Trump promised to improve health care, but as president his first full budget calls for deep cuts to popular insurance programs. And it omits any proposal for negotiating prescription drug prices, a Trump talking point.