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Stocks sink...Global trade forecast cut...Obama on climate change...LA power project

By The Associated Press | Posted - Sep. 23, 2014 at 12:41 p.m.



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NEW YORK (AP) — Stocks have turned lower in afternoon trading. The Dow has been down close to 100 points, while the S&P 500 and the Nasdaq composite have also fallen into negative territory. A report showing Europe's economy sputtering and the airstrikes targeting the Islamic State group in Syria are weighing on investors.

BERLIN (AP) — The World Trade Organization has sharply reduced its forecast for global trade growth this year. Pointing to uneven economic growth in countries including China and the U.S., WTO economists are now predicting 3.1 percent growth in world trade this year, down from the 4.7 percent forecast in April. They also cut their outlook for next year.

UNITED NATIONS (AP) —President Barack Obama is warning that the globe's climate is changing faster than efforts to address it. Speaking at a United Nations summit, Obama said the U.S. will meet its goal to cut carbon pollution 17 percent from 2005 levels by 2020. Saying, "the alarm bells keep ringing" and "citizens keep marching," Obama called for governments around the world to "answer the call" before it's too late. Other world leaders also have been pledging billions of dollars to promote sustainability.

LOS ANGELES (AP) — Four companies are proposing an $8 billion project to supply the Los Angeles area with large amounts of electricity from a wind farm in Wyoming. The group says the project would require building a 2,100-megawatt wind farm 40 miles north of Cheyenne, Wyoming. That would be linked by a 525-mile transmission line to an energy storage site in Utah, which would relay enough electricity to serve 1.2 million LA homes.

NEW YORK (AP) — Coke, Pepsi and Dr Pepper say they'll work to reduce the calories Americans get from beverages by 20 percent over the next decade by more aggressively marketing smaller sizes, bottled water and diet drinks. The country's three biggest soda makers made the announcement at the Clinton Global Initiative today. They've been facing public pressure over the role of sugary drinks in fueling obesity and a trend among consumers away from soda.

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The Associated Press

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