US wholesale costs rose last month on gas prices

WASHINGTON — U.S. wholesale prices increased in December, pushed up by rising gasoline prices and energy costs. But overall inflation remained mild. The Labor Department said Wednesday that the producer price index, which measures costs before they...

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US stocks head higher for a second day

NEW YORK — Bank stocks are leading an early rise in the stock market after Bank of America reported a surge in earnings. Bank of America rose 3 percent after reporting that loans on its balance sheet continue to improve. The Dow Jones industrial average...

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Stocks rise in early trading on Wall Street

NEW YORK — Stocks are rising Wednesday on optimism over bank earnings after Bank of America reported that profit surged to $3.44 billion in the fourth quarter. Technology stocks are also climbing fast, with Apple up 2 percent. KEEPING SCORE: The Dow...

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SolarCity turns to retail investors for cash

NEW YORK — Solar panel installer SolarCity is turning to retail investors for cash. The company said Wednesday that it plans to sell securities directly to individuals and others interested in investing in its rooftop solar systems. The move is a novel...

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Local parenting company Isis shutting down

A popular Brookline-born parenting company  has informed its clients that it is suddenly closing, sparking shock among an avid customer base that swiftly erupted  on social media. Heather N. Coughlin, CEO of Isis Parenting, sent out an email...

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Obama to nominate Calif. businesswoman to lead SBA

WASHINGTON — Rounding out his Cabinet, President Barack Obama intends to nominate Maria Contreras-Sweet, the founder of a Latino-owned community bank in Los Angeles and a former California cabinet secretary, to be head of the Small Business Administration....

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Pope cleans house at bank with new cardinals

VATICAN CITY — Pope Francis made another move to clean house at the troubled Vatican bank on Wednesday, naming a new roster of cardinal advisers to replace the ones who were in place during its latest brushes with scandal. Only one cardinal from the...

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House ready to OK government-wide $1.1T budget

WASHINGTON — Shunning the turmoil of recent budget clashes, Congress is ready to approve a massive $1.1 trillion spending bill for this year, a compromise financing everything from airports to war costs and brimming with victories and setbacks for both...

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Raytheon CEO Swanson plans to step down in March

WALTHAM, Mass. — Raytheon CEO William Swanson plans to step down from his post at the big defense contractor in March. Swanson, who will turn 65 in February, has served as CEO of the Waltham, Mass.-based company since 2003. He will remain as chairman...

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Bank of America 4Q earnings jump nearly five-fold

NEW YORK — Bank of America Corp. said Wednesday that its fourth-quarter profit jumped from a year earlier, as the loans on the bank's balance sheet continued to improve. The nation's second-largest bank earned $3.44 billion in the October to December...

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