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  • Detroit's historic bankruptcy trial to begin Tuesday, 2 Sep 2014 | 1:19 AM ET

    After some delays, the start of the trial Tuesday in U.S. District Court comes just over 13 months after Detroit became the largest U.S. city to file for bankruptcy. Detroit expects to cut $12 billion in unsecured debt to about $5 billion, which is "more manageable," according to Bill Nowling, a spokesman for emergency manager Kevyn Orr.

  • Sept 2- Former U.S. House Majority Leader Eric Cantor will join investment bank Moelis& Co as vice chairman and managing director, the company said, adding that Cantor will also be elected to its board.

  • DETROIT, Sept 2 Reuters)- Detroit's plan to recover from bankruptcy includes several blueprints for a new future. "What Detroit needed to start with was a reinvestment program," said James Spiotto, managing director of Chapman Strategic Advisors, a municipal finance consultancy.

  • LONDON, Sept. 2- Burger King may have taken a lot of flack in the past week for a deal that should curb its U.S. tax bill but in many ways it is consistent with the burger chain's aggressive tax-reduction strategies in recent years. They say it will allow Burger King to avoid paying some U.S. taxes.

  • NEW YORK, Sept 2- U.S. judges are imposing increasingly long prison terms for insider trading, a Reuters analysis shows. In 2011, former billionaire and Galleon Group hedge fund founder Raj Rajaratnam received an 11- year sentence for an insider trading scheme that netted him $63.8 million in illicit profits.

  • Yves Carcelle, empire builder at Louis Vuitton, dies Tuesday, 2 Sep 2014 | 12:46 AM ET

    Yves Carcelle, the charismatic executive who transformed Louis Vuitton, died on Sunday in Paris. He was 66, the NYT reports.

  • Top South America hackers rattle Peru's Cabinet Tuesday, 2 Sep 2014 | 12:05 AM ET

    LIMA, Peru— The Peruvian hackers have broken into military, police, and other sensitive government networks in Argentina, Colombia, Chile, Venezuela and Peru, defacing websites and extracting sensitive data to strut their programming prowess and make political points.

  • DIARY - Top economic Events to Sep 16 Monday, 1 Sep 2014 | 10:16 PM ET

    LONDON- UK Treasury Chief Secretary Danny Alexander delivers speech setting out' his vision for Scotland to remain as an integral and full member of the United Kingdom' at Chatham House. MADRID- Central Bank of Peru Governor Julio Velarde speaks about monetary policy and macroeconomic stability at an event devoted to promoting investment in the country.

  • Civil disobedience expected in fast-food pay fight Monday, 1 Sep 2014 | 5:44 PM ET

    NEW YORK— McDonald's, Wendy's and other fast-food restaurants are expected to be targeted with acts of civil disobedience that could lead to arrests Thursday as labor organizers escalate their campaign to unionize the industry's workers.

  • WASHINGTON/ SEOUL, Sept 1- Washington is facing growing international pressure to ease its long standing ban on crude oil exports, with South Korea and Mexico joining the European Union in pressing the case for U.S. oil shipments overseas.

  • Congressman from Texas has come out in full support of the United States lifting the 40- year old ban on crude oil exports, putting him at odds with fellow House Republicans wary of weighing in on the controversial issue.

  • US eating habits improve a bit _ except among poor Monday, 1 Sep 2014 | 4:00 PM ET

    CHICAGO— Americans' eating habits have improved— except among the poor, evidence of a widening wealth gap when it comes to diet. Yet even among wealthier adults, food choices remain far from ideal, a 12- year study found. Frank Hu of the Harvard School of Public Health.

  • NY farmers seek solutions to invasive berry pest Monday, 1 Sep 2014 | 3:17 PM ET

    BINGHAMTON, N.Y.— A new invasive insect has devastated northeastern berry crops, and growers are working with Cornell University plant experts to develop strategies to fight it. Statewide, Cornell University estimated the damage to commercial berry growers at $7 million in 2012..

  • Sandy-hit towns wrestle with eminent-domain choice Monday, 1 Sep 2014 | 1:42 PM ET

    Asharoken is just one place where the tussle among coastal protection, property rights, public access and federal funding is playing out in New York and New Jersey, both hit hard by the storm.

  • HAVANA, Sept 1- Cuba has raised duties and restricted imports on consumer goods brought in by air travelers or sent by mail, imposing greater hardship for a fledgling private sector and angering people looking to counter chronic shortages. The duty is now $250 on a 32- inch screen, $400 for those between 32 and 42 inches and $500 on even bigger models.

  • New $1B power line to improve South Texas service Monday, 1 Sep 2014 | 1:29 PM ET

    McALLEN, Texas— Construction continues on a new $1 billion electricity line in South Texas that officials said will not only improve service in the state's Rio Grande Valley but also allow energy generated in South Texas to be delivered to the rest of the state.

  • Breaks sought for proposed biotech office park Monday, 1 Sep 2014 | 1:26 PM ET

    KANSAS CITY, Mo.— Backers of a proposed biotech office park in south Kansas City are preparing to seek tax breaks for the 350- acre project. Whitney Kerr Sr., a longtime Kansas City area broker who worked to assemble the land, said the tax break is needed to bring research firms, clinical trial facilities and similar biotech operations to the site.

  • Inquiries begin into nude celebrity photo leaks Monday, 1 Sep 2014 | 12:43 PM ET

    LOS ANGELES— The FBI said Monday it was addressing allegations that online accounts of several celebrities, including Oscar-winner Jennifer Lawrence, had been hacked, leading to the posting of their nude photographs online. Apple said Monday it was looking into whether its online photo-sharing service had been hacked to obtain the intimate images.

  • NC offered $100M for Toyota HQ, twice Texas bid Monday, 1 Sep 2014 | 12:21 PM ET

    RALEIGH, N.C.— North Carolina business recruiters offered Toyota more than $100 million in incentives for the world's largest carmaker to move its North American headquarters to Charlotte rather than a Dallas suburb, but still lost out to a Texas offer half that size.

  • Program trains refugees for work on NY dairy farms Monday, 1 Sep 2014 | 11:55 AM ET

    "It's kind of an ideal situation," said Jorge Montalvo, director of the state's Office for New Americans. Idaho, Oregon and Arizona also have experimented with placing refugees on dairy farms in an effort to satisfy both the interests of the immigrants and the needs of their adopted states.