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Stocks rebound...Fed report finds economy growing at moderate pace...Egg group scrambled over eggless mayo

By The Associated Press | Posted - Sep. 2, 2015 at 12:21 p.m.



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NEW YORK (AP) — Stocks are rebounding from yesterday's sharp sell-off. The Dow Jones industrial average has been up more than 200 points in afternoon trading on Wall Street, a day after plunging almost 470 points. Oil prices continue to swing sharply.

WASHINGTON (AP) — The Federal Reserve's latest look at business conditions nationwide finds that the economy kept expanding during the summer. Housing and auto sales were two bright spots. However, manufacturers were starting to feel pressure from an economic slowdown in China, and the oil industry was being hit by the drop in energy prices. The Fed says that 11 of its 12 regional banks found that the economy was growing at either a moderate or modest pace in July through mid-August.

NEW YORK (AP) — A California company that makes an eggless mayonnaise alternative has the U.S. egg industry scrambling. The American Egg Board has waged a campaign to counter the emergence of Hampton Creek's Just Mayo spread, and even tried to prevent its sale at Whole Foods grocery stores, according to documents provided to The Associated Press. The startup's CEO, Josh Tetrick, has said he wants to make the food system more environmentally friendly by replacing the eggs in an array of foods with plant-based alternatives.

NORFOLK, Va. (AP) — Plaintiffs in a gender-discrimination lawsuit filed against a Virginia shipyard have asked a federal judge to give preliminary approval to a settlement. The settlement would share $3 million among 177 women. It would also require that promotion decisions be based on job-related criteria and prohibit supervisors from imposing additional subjective requirements. The class-action lawsuit filed in 2013 by women working at BAE Systems Norfolk Ship Repair Inc. alleges that female employees suffered pay and promotion discrimination and sexual harassment. BAE has denied wrongdoing.

WASHINGTON (AP) — The U.S. Office of Personnel Management is calling on federal agencies to allow teleworking during the pope's visit to Washington. The federal government in the Washington region will remain open during Pope Francis' three-day visit, but road closures and crowds will mean disruptions to the usual commute. OPM Acting Director Beth Cobert is asking agencies to let employees telecommute to avoid adding to the congestion and reduce distractions for security officials. Pope Francis arrives in Washington on Sept. 22.

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The Associated Press

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