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NEW YORK (AP) — U.S. stocks moved modestly higher in early trading, rebounding after two days of heavy selling last week. Energy stocks continued to fall as the price of oil fell. The Dow Jones industrial average rose 122 points to 17,250 as of 9:50 a.m. Eastern. The Standard & Poor's 500 index rose 14 points and the Nasdaq composite rose 31.
BEIJING (AP) — Chinese leaders are promising to promote economic growth by cutting business costs and reducing surplus production capacity in some industries as they try to reverse an unexpectedly sharp downturn. After an annual planning meeting, Communist Party leaders also pledged to reduce financial risks and rein in rising debt that has prompted concern about possible threats to China's financial system.
NEW YORK (AP) — Pep Boys is calling a revised offer from billionaire Carl Icahn a superior bid, just days after the auto parts seller accepted a sweetened deal from tire company Bridgestone. Icahn Enterprises offered $16.50 for each share of Pep Boys on Friday, in a deal worth about $893 million. That's up from previous offers from Icahn and Bridgestone of $15.50 per share.
HELSINKI (AP) — Sweden's Ericsson AB and Apple Inc. have agreed on a 7-year cooperation deal that brings an end to outstanding patent litigations. Ericsson, the world's largest wireless equipment maker, says the two companies will cooperate in the future, including on the development of fifth generation phones, or 5G, as well as on video and wireless networks.
NEW YORK (AP) — A new survey says more Americans are shunning costly home broadband and using their cellphones to get online. The Pew Research Center says after years of home broadband growth, slightly fewer adults in 2015 got Internet from providers like home phone or cable companies. Meanwhile, the number of people relying on cellphones alone for Internet rose to 13 percent this year from 8 percent in 2013.
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