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Stocks climb...Oil price rises... DOE OK's big power line from Canada to NYC

By The Associated Press | Posted - Sep. 26, 2014 at 3:40 p.m.



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NEW YORK (AP) — Stocks are closing out a turbulent week with a solid gain. The Dow Jones industrial average surged 167 points, or 1 percent, to 17,113 today, making up much of its loss from the day before. The Standard & Poor's 500 rose nearly 17 points, or 0.9 percent, to 1,982. The Nasdaq rose 45 points, or 1 percent, to 4,512.

NEW YORK (AP) — The price of oil is up on expectations of rising demand in the U.S., where economic growth appears to be picking up steam. Benchmark U.S. crude rose $1.01 to close at $93.54 a barrel on the New York Mercantile Exchange. Brent crude, a benchmark for international oils, remained unchanged at $97.00 a barrel on the ICE Futures exchange in London.

ALBANY, N.Y. (AP) — Federal regulators are giving final approval for construction of a 330-mile electric transmission line to bring lower-cost Canadian hydroelectric power to New York City. The decision clears the way for the 1,000-megawatt Champlain Hudson Power Express line after some final concerns are addressed by Albany-based Transmission Developers.

UNDATED (AP) — Start-up airline PeoplExpress says it's suspending flights because of problems including a shortage of crews, but it hopes to resume flying next month. The Newport News, Virginia-based airline says it's processing refunds for passengers holding tickets through Oct. 15. Those booked on later flights will get an email once plans for resuming service on or about Oct. 16 are complete.

NEW YORK (AP) — Marvel has settled a lawsuit that pitted the comic-book company against the family of the artist who helped create such iconic superheros as Spider-Man, Iron Man and the Incredible Hulk. Heirs of the late Jack Kirby wanted to terminate Marvel's copyrights from 2014 through 2019 to comics published from 1958 to 1963. But Marvel argued they belong to the company.

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The Associated Press

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