Europe Closes Lower; Fed in Focus
Connecticut
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Even as images of the Sandy Hook Elementary School shootings are fresh in America's conscious, a pro-gun group is sponsoring a promotion to give away a gun each day in April.
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NEW YORK, June 7- A dispute involving a gun industry executive who claims he was fired after being falsely accused of bringing his weapons to work offers a peek into Freedom Group, the gun making conglomerate owned by Cerberus Capital Management LP.
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New figures show that Louisiana's economy grew by 1.5 percent in 2012, leaving it ranked 30th among the 50 states. Louisiana's 2012 growth rate was below the national average of 2.5 percent, but higher than 2011, when it shrank by 2.6 percent, the worst performance of any state. Earlier figures had shown Louisiana's economy expanded by 0.5 percent in 2011..
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WASHINGTON, June 7- U.S. employers stepped up hiring in May in a show of economic resilience that suggests the Federal Reserve could begin to scale back the amount of cash it is pumping into the banking system later this year. The United States added 175,000 jobs last month, just above the median forecast in a Reuters poll, Labor Department data showed on Friday.
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WASHINGTON, June 7- U.S. employers stepped up hiring in May, a sign the economy was growing modestly but not strong enough to convince the Federal Reserve to scale back the amount of cash it is pumping into the banking system. The United States added 175,000 jobs last month, just above the median forecast in a Reuters poll, Labor Department data showed on Friday.
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BRIDGEPORT, Conn.-- A New York City woman pleaded guilty Thursday to engaging in a fraudulent fundraising scheme in which she posed as the aunt of a child killed in the mass shooting at a Connecticut elementary school in December. Nouel Alba, 37, of the Bronx, pleaded guilty in Bridgeport, Conn., to wire fraud and making false statements, the U.S. attorney's office said.
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WASHINGTON, June 7- U.S. employers likely stepped up hiring only slightly in May, a sign the economy was growing modestly but not strongly enough to convince the Federal Reserve to scale back the amount of cash it is pumping into the banking system. "The labor market may not be as strong as we thought," said Kevin Cummins, an economist at UBS in Stamford, Connecticut.
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*Losses in higher-risk assets revive investors' safety bid. NEW YORK, June 6- Prices for U.S. We saw that big downdraft after dollar/yen plunged lower, "said Kim Rupert, managing director of global fixed income analysis at Action Economics LLC in San Francisco."
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NEW YORK, June 6- U.S. stocks rose modestly in late afternoon trading on Thursday, with the S&P 500 recovering after hitting a key technical level in volatile trading a day before the release of the closely watched U.S. jobs report.
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*Losses in higher-risk assets revive investors' safety bid. NEW YORK, June 6- Prices for U.S. We saw that big downdraft after dollar/yen plunged lower, "said Kim Rupert, managing director of global fixed income analysis at Action Economics LLC in San Francisco."
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Euro zone stocks also retreated and periphery sovereign bond yields widened after the European Central Bank kept rates on hold. At a news conference, European Central Bank President Mario Draghi later said the ECB was "technically ready" for negative rates, but gave no suggestion it was leaning toward such a move.
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The U.S. Judicial Panel on Multidistrict Litigation said it would promote efficiency to move the lawsuits by 14 U.S. states and Washington, D.C. to a federal court in New York, where they will be overseen by U.S.
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HARTFORD, Conn.-- Connecticut lawmakers are sending Gov. The Senate approved the measure, 28-3 on Wednesday, following passage in the House of Representatives over the weekend.
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NEW YORK, June 6- U.S. New U.S. jobless claims for the latest week came in on Thursday much as expected, falling to 346,000, according to the Labor Department.
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NEW HAVEN, Conn.-- A track inspection found problems two days before a train derailed in the state and injured more than 70 people, the National Transportation Safety Board said Wednesday.
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NEW YORK, June 5- A federal judge on Wednesday set a Nov. 4 start for the criminal trial of Mathew Martoma, a former portfolio manager at hedge fund SAC Capital Advisors, on insider trading charges.
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A federal judge set a Nov. 4 start for the criminal trial of Mathew Martoma, a former portfolio manager at hedge fund SAC Capital Advisors, on insider trading charges.
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*White House calls for greater CFTC funding ignored. It was the second defeat in three days for the White House budget proposal to use up to 45 percent of funding for "Food for Peace," the major U.S. food aid program, to buy food from nations near hunger zones instead of American-grown food.
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*S. Korea hopes to lure oil imports from outside Middle East. NEW YORK/ LONDON, June 5- Brent crude oil rose modestly on Wednesday after inventory data showed fuel stockpiles in the United States fell sharply last week, signalling stronger demand in the world's top oil consumer.
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*S.Korea hopes to lure oil imports from outside Middle East. *Sanctions squeeze Iran oil exports to lowest in decades. LONDON, June 5- Brent crude climbed towards $104 a barrel on Wednesday after fuel stockpiles in the United States fell sharply, signalling stronger demand in the world's top oil consumer.
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NEW YORK, June 4- Brent crude oil rose more than $1 per barrel on Tuesday, shaking off early losses as rumors spread that South Korea would create new incentives for refiners to import crude that could bolster demand. Officials in Seoul were not immediately available to comment.
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