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Federal budget in black for January

WASHINGTON — The federal government recorded a budget surplus in January of $55.2 billion, helped by a timing quirk that shifted benefit payments to December. The Treasury Department said Wednesday that the surplus marked an improvement from January 2015 when the government recorded a small deficit of $17.5 billion. Part of the improvement reflected the fact that $42 billion in ...

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Companies lose billions buying back their own stock

NEW YORK (AP) — If you think your stocks are doing poorly, check out the performance of some of the most sophisticated investors, the ones with more knowledge about what’s going on inside businesses than anyone else: Companies that buy their own shares. The companies losing money on these bets are down a collective $126 billion over the past three ...

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Yellen: Slower rate hikes if economy disappoints

The Federal Reserve Bank of New York. (Image: Alex via Flickr)

WASHINGTON (AP) — Federal Reserve Chair Janet Yellen said the U.S. economy faces a number of global threats that could hamper growth and compel the Fed to slow the pace of future interest rate hikes. She highlighted in her semiannual report to Congress the widening fallout from concerns over China’s weaker currency and economic outlook, which is rattling financial markets ...

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US stocks end a bumpy day slightly lower

US stocks end a bumpy day slightly lower

U.S. stocks extended their three-day losing streak Tuesday, closing slightly lower after spending most of the day wavering between gains and losses. Energy companies led the decline as the price of U.S. crude oil sank nearly 6 percent. It’s now at about $28 a barrel. The market’s bumpy ride followed a slide in European stock indexes and steep losses in ...

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Dominion teams up with energy company on Virginia solar farm

CHESAPEAKE, Va. (AP) — Dominion Virginia Power is teaming up with a North Carolina energy company to create the largest solar farm in Hampton Roads. Announced Monday, the partnership with SunEnergy1 will bring nearly 92,000 solar panels to a 250-acre leased site in Chesapeake. The farm will generate enough power for 5,000 homes. The Chesapeake solar farm is among several ...

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Slide in energy companies moves US stocks modestly lower

Jonathan Niles, foreground right, works at the New York Stock Exchange, Tuesday, Feb. 9, 2016. Stock markets have been in a slump so far this year after a lackluster 2015. Several factors have kept investors in a selling mood, including falling crude oil prices, waning growth in major economies and the prospect of Federal Reserve rate hikes after several years of ultra-easy monetary policy. (AP Photo/Mark Lennihan)

Major U.S. stock indexes shifted lower in midday trading Tuesday after spending much of the morning wavering between small gains and losses. Investors were weighing the latest batch of company earnings news and looking ahead to the beginning on Wednesday of two days of testimony before Congress by Federal Reserve Chair Janet Yellen. European markets fell following steep losses in ...

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Obama to release $4 trillion-plus budget for 2017

Copies of the President Barack Obama's fiscal 2017 federal budget are unpacked after being delivered to the House Budget Committee Room on Capitol Hill in Washington, Tuesday, Feb. 9, 2016. President Barack Obama unveils his eighth and final budget, a $4 trillion-plus proposal that’s freighted with liberal policy initiatives and new and familiar tax hikes, sent to a dismissive Republican-controlled Congress. (AP Photo/Andrew Harnik)

WASHINGTON (AP) — President Barack Obama is unveiling his eighth and final budget, a $4 trillion-plus proposal that’s freighted with liberal policy initiatives and new and familiar tax hikes — all sent to a dismissive Republican-controlled Congress that simply wants to move on from his presidency. The budget will be released Tuesday morning, the same day as the New Hampshire ...

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Chesapeake stock tumbles, rises after investors spooked

Chesapeake stock tumbles, rises after investors spooked

OKLAHOMA CITY — Share prices for Chesapeake Energy stock were down more than 50 percent for a time Monday after a news report said the Oklahoma City-based company had brought on attorneys who help companies restructure their debt, but rebounded after the natural gas producer told investors that it was not planning to file for bankruptcy protection. Chesapeake said it ...

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Stocks fall sharply, oil drops back below $30

trader on stock floor.

Steep losses in financial, technology and other companies sent U.S. stocks sharply lower in afternoon trading Monday, pulling the Dow Jones industrial average down 400 points. The decline followed drops in Europe and set the market on course for its second big loss in a row. Crude oil prices slumped again. KEEPING SCORE: The Dow Jones industrial average fell 396 ...

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