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NEW YORK (AP) — Stocks are lower in afternoon trading on Wall Street. Investors continue to focus on the Federal Reserve, which appears to remain on track to raise interest rates as soon as September. A spike in oil prices helped energy shares bounce back from an early decline.
SAN FRANCISCO (AP) — Google is introducing an application that will connect Android smartwatches with Apple's iPhone. Until now, Android watches only worked with smartphones powered by Android software, just as the Apple Watch is designed to be tethered exclusively to the iPhone. The program uniting the devices running on different operating systems is being released today in Apple's app store.
DETROIT (AP) — Fiat Chrysler is recalling 206,668 Jeep Cherokee SUVs because the windshield wipers can stop working unexpectedly. Cherokees from the 2014 model year are affected. Fiat Chrysler says static buildup may occur if the wipers are used when it's dry, and that can affect the module that powers the wipers.
NEW YORK (AP) — If you think investors in U.S. stocks have had it rough, consider the folks who followed Wall Street's advice to buy emerging market stocks. The MSCI Emerging Market index has lost 25 percent over the past year, while the mostly widely held U.S. fund, the Vanguard Total Stock Market index, is down less than 1 percent. Investors have yanked $40 billion from emerging-market stocks this year, a record pace of withdrawals.
CAIRO (AP) — Experts say the discovery of a huge natural gas field off the Egyptian coast should help end energy shortages and boost the economy. They say the "supergiant" offshore field revealed over the weekend by an Italian energy company could alleviate Egypt's need for gas imports. The Arab world's most populous country is making a gradual economic recovery from the years of chaos since a 2011 uprising toppled longtime autocrat Hosni Mubarak.
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