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Mark Brooks

TheAssocPress

Recent Articles by Mark Brooks

Mar 28, 2013 by Mark Brooks

Boeing CEO Says 787 Is "Very Close" to Flying

Two incidents involving batteries on 787s led the Federal Aviation Administration and regulators in other countries to ground the planes in January. Boeing is testing a redesign of the battery system.

Mar 28, 2013 by Mark Brooks

Neither Party Has Cash for Student Loan Rate Fix

Sound familiar? The same warnings came last year. But now the presidential election is over and mandatory budget cuts are taking place, making a deal to avert a doubling of interest rates much more elusive before a July 1 deadline.

Mar 28, 2013 by Mark Brooks

Cyprus' Capital Controls Could Be Lifted in a Month

The government has imposed a daily limit on how much people can withdraw to stop a run on its banks -- the first such action in the 14-year history of the euro currency.

Mar 28, 2013 by Mark Brooks

Obama to Release His Budget Outline April 10

Under the law, the president was supposed to submit a budget on Feb. 4. But White House aides said deliberations over spending in the past few months delayed the release of Obama's blueprint.

Mar 28, 2013 by Mark Brooks

Euro Rises as Cyprus Banks Reopen

The euro rose to $1.2822 in afternoon trading from $1.2774 late Wednesday.

Mar 28, 2013 by Mark Brooks

Oil Steady Above $96 as Cyprus Banks Reopen

By early afternoon in Europe, benchmark oil for May delivery was up 8 cents to $96.66 a barrel in electronic trading on the New York Mercantile Exchange.

Mar 28, 2013 by Mark Brooks

Cyprus Banks Re-Open; Limits on Transactions

The limits on transactions, which include caps on withdrawals and money leaving the country, are a first in the 14-year history of the euro.

Mar 27, 2013 by Mark Brooks

Silver Lower, Grain Futures Rise in Trading

Analysts said Wednesday that wheat may be scarcer in the coming months after a hard freeze stretching from Tennessee to Texas damaged crops this week.

Mar 27, 2013 by Mark Brooks

Cyprus: Cash Withdrawals Capped at 300 Euros

Credit or debit card payments abroad will be capped at 5,000 euros a day, while no checks will be cashed, although they can be deposited in bank accounts, the agency said Wednesday.

Mar 27, 2013 by Mark Brooks

Cyprus, Italy Worries Push Euro to Four-Month Low

The euro fell as low as $1.2749, its lowest point against the dollar since Nov. 21. The euro was worth $1.2858 late Tuesday.

Mar 27, 2013 by Mark Brooks

EU Seeks Extra Funding of $14 Billion for 2013

If the amended budget is passed, Germany will face an additional bill of 2.2 billion euros, France 1.7 billion euros, Britain 1.6 billion euros and Italy 1.3 billion euros.

Mar 27, 2013 by Mark Brooks

Cyprus: Cash, Security Control for Banks Reopening

A banking official said Wednesday that new controls will include restrictions on large-scale transfers from the country's two largest and most troubled lenders, Bank of Cyprus and Laiki.

Mar 27, 2013 by Mark Brooks

Oil Prices Ease Back After Day of Strong Gains

By early afternoon in Europe, benchmark oil for May delivery was down 40 cents to $95.94 per barrel in electronic trading on the New York Mercantile Exchange.

Mar 26, 2013 by Mark Brooks

Metals Fall, Oil Rises as Investors Parse Economy

The precious metals and some key industrial metals fell Tuesday, while energy commodities were up and crops were mixed.

Mar 26, 2013 by Mark Brooks

Obama Signs Bill to Avoid Government Shutdown

The House and Senate passed the spending bill last week. Without it, on Wednesday the government would have run out of money to keep operating.

Mar 26, 2013 by Mark Brooks

Euro Slips on Worries About Cyprus

Details about the bailout for the bailout have not been decided yet. It's not clear how much money will be taken from depositors with over 100,000 euros in the nation's banks.

Mar 26, 2013 by Mark Brooks

Wal-Mart Tests In-Store Lockers for Online Orders

The test, which is being conducted in an undisclosed market, is part of Wal-Mart's strategy to offer more convenience for Web-savvy shoppers to make their purchases wherever they want.

Mar 26, 2013 by Mark Brooks

ECB, Eurogroup at Odds Over Cyprus Rescue as Model

In a 10-billion-euro bailout deal clinched in the early hours of Monday morning, Cyprus agreed to dissolve the country's second-largest bank, inflicting significant losses -- possibly up to 40 percent -- on all deposits larger than 100,000 euros ($130,000).

Mar 26, 2013 by Mark Brooks

Orbitz Refinances Debt With $450 Million in Term Loans

The online travel company got a $150 million loan that matures in September 2017 and a $300 million loan that matures in March 2019.

Mar 26, 2013 by Mark Brooks

Fed Tells Citi to Improve Anti-Laundering Systems

In an order made public on Tuesday, the Fed said that Citi had agreed to fix "deficiencies" in its anti-money laundering controls.

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