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Stocks flat... Feds rejects Staples-Office Depot proposal... China's downturn heads AP's Top 10

By The Associated Press | Posted - Dec. 21, 2015 at 12:20 p.m.



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NEW YORK (AP) — Stocks continue showing very modest gains. As of 2:05 p.m. Eastern, the Dow industrials were up 73 points at 17,202. The Nasdaq composite was up 33 at 4,955. Standard and Poors was up 10 points at 2,015.

NEW YORK (AP) — Federal regulators rejected an offer from Staples to sell $1.25 billion in contracts, an attempt on the part of the office supply retailer to ease monopoly fears as it tries to acquire rival Office Depot. The Federal Trade Commission sought to block the deal earlier this month believing that a tie up between the last of the major retailers in the sector would throttle competition.

NEW YORK (AP) — The latest iPhones come with the ability to turn still images into video — just like magic — but sharing options had been limited to other Apple apps. That's changing as Facebook adds Apple's Live Photos feature to Facebook's iPhone and iPad app. Facebook will start offering it to a limited number of users initially, with a broader rollout planned in coming weeks.

PARIS (AP) — Renault has bought a controlling stake in Lotus as the French carmaker prepares to launch its own Formula One team in 2016. Renault, which has just been an engine supplier in recent seasons, said earlier this month it would finalize the Lotus acquisition as soon as possible.

WASHINGTON (AP) — China's sharp slowdown was chosen as the top business story of 2015 by business editors at The Associated Press, followed by the plunge in energy prices. The Top 10 list also includes the end of seven years of near-zero interest rates in the U.S., Volkswagen cheating on emissions tests and the rise of Uber.

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The Associated Press

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