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Business News
US stocks edge lower; Allstate slumps on weak earnings
NEW YORK (AP) -- U.S. stocks moved between small gains and losses on Tuesday as investors assessed the latest company earnings reports and deal news. Allstate slumped after the insurance company reported earnings that missed analysts' expectations. Pharmaceutical company Baxalta jumped after rival Shire agreed to buy the company for about $30 billion. Apple fell sharply for a second day....
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Kellogg's US breakfast business shrinks again
BATTLE CREEK, Mich. (AP) -- Kellogg says its U.S. breakfast foods division saw another decline in quarterly sales but that trends in the cereal category were improving....
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Freddie Mac posts $4.2B profit in 2Q; paying $3.9B dividend
WASHINGTON (AP) -- Mortgage giant Freddie Mac reported net income of $4.2 billion for the second quarter, up sharply from the same period of 2014, as it increased its purchases of home loans and sold off greater volumes of riskier mortgages....
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Shire offers to buy Baxter drug spinoff for $30 billion
NEW YORK (AP) -- The Irish drugmaker Shire PLC Is offering to buy Baxalta for about $30 billion in stock as it attempts to solidify its strengthening position in rare disease treatments....
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US factory orders advance 1.8 percent in June
WASHINGTON (AP) -- Orders to U.S. factories increased in June, and a key category that reflects business investment plans posted a modest rise. But the gains weren't robust enough to suggest that the sluggish manufacturing sector is mounting a significant turnaround....
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