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FINDLAY, Ohio— Marathon Petroleum Corp. on Thursday reported earnings that rose by 44 percent in its second quarter, and topped analysts' expectations. The Findlay, Ohio- based oil refiner said net income rose to $855 million, or $2.95 per share, from $593 million, or $1.83 per share, in the same quarter a year earlier.
HOUSTON, July 31- Murky private rulings from the U.S. Commerce Department to a pair of companies allowing exports of a very light form of domestic oil with minimal processing confused many in the market over exactly what can be exported, Marathon Petroleum Corp Chief Executive Gary Heminger said on Thursday.
The U.S. Department of Labor's Mine Safety and Health Administration coal dust rule will be phased in, with requirements including increased dust sampling in mines and citations when coal operators don't take immediate action for high levels.
HARRISBURG, Pa.— PPL Corp. said Thursday it wants to spend billions of dollars to build a 725- mile system of electric transmission lines that will bring energy from the booming Marcellus Shale natural gas fields to customers on the heavily populated Eastern Seaboard.
*Investors fret over Argentina default fallout. *Exxon, Whole Foods both fall after results. NEW YORK, July 31- U.S. stocks slumped in a broad decline on Thursday, with the S&P 500 falling below a key technical level and erasing its gains for the month as concerns mounted over the strength of overseas economies and ongoing tensions with Russia.
ALBANY, Ga.— After three days of jury selection, a panel with plenty of extra members was seated Thursday to hear the case of three people charged in connection with a deadly salmonella outbreak traced to a southwest Georgia peanut plant five years ago.
WASHINGTON— A coal train derailment that killed two Maryland college students was caused by a broken rail on a section of track being monitored by a railroad because of previous problems, the National Transportation Safety Board said Thursday. The NTSB's conclusion was part of a 19- page report on its investigation into the 2012 derailment in Ellicott City.
WASHINGTON, July 31- The biggest U.S. banks' borrowing cost advantage over smaller competitors appears to have been reduced or eliminated since the 2007-2009 financial meltdown but could return in a crisis, a U.S. government official said on Thursday.
July 31- Timken Co reported a lower-than-expected quarterly profit, hurt by a fall in demand for its ball bearings and power transmission components from the automotive and mining industries. Net income attributable to Timken fell to $62.7 million, or 68 cents per share, for the second quarter ended June 30, from $82.8 million, or 86 cents per share, a year earlier.
CINCINNATI— With only one of nine Greenpeace activists willing to accept a plea deal, a judge on Thursday set a trial date for the other eight on felony charges in an eye-catching protest at Procter& Gamble's headquarters in downtown Cincinnati.
July 30- Journal Communications Inc. and E.W. Scripps agreed to merge broadcast operations and spin off their newspaper businesses into a new publicly traded entity, the media companies said late on Wednesday. The newly formed newspaper entity would combine Scripps' newspapers in 13 markets with Journal Communications' flagship Milwaukee Journal Sentinel.
MILWAUKEE— Journal Communications Inc. of Milwaukee and E.W. Scripps Co. of Cincinnati have an agreement to merge broadcasting operations while spinning off newspaper holdings into a separate public entity, the companies announced late Wednesday.
July 30- A federal appeals court panel heard arguments on Wednesday between Detroit and one of its last hold-out creditors over casino tax revenue, with one of the judges promising a careful consideration of the case, the Detroit News reported.
ALBANY, Ga.— The trial of three people charged in a deadly salmonella outbreak linked to a southwest Georgia peanut plant could keep jurors tied up for more than two months, the trial judge said Wednesday.
CINCINNATI— Attorneys for nine Greenpeace activists facing felony charges for a stunning protest at Procter& Gamble's headquarters are challenging the consumer product company's damage claims.
July 30- Goodyear Tire& Rubber Co, the biggest U.S. tire maker, reported lower-than-expected quarterly revenue as it sold fewer tires to vehicle makers in North America and Latin America. Goodyear shares fell as much as 8.8 percent $25.22, their biggest intraday percentage decline in nearly two years.
A key GOP lawmaker says the remarks show that Lois Lerner was biased against conservative groups and targeted them for extra scrutiny. In a series of emails with an associate in November 2012, Lerner made two disparaging remarks about some members of the GOP, including one remark that was a profane characterization.
AKRON, Ohio— Goodyear Tire's second-quarter earnings jumped 18 percent to $213 million, though revenue was softer than many had expected and volume slowed in Latin America. Adjusted earnings of 80 cents per share matched Wall Street estimates, according to a poll by Zacks Investment Research.
WASHINGTON— The Senate delivered an unexpectedly strong vote Tuesday in favor of taking action later this year to resolve the chronic funding problems that have bedeviled highway and transit programs, a sign that Congress may have reached the limit of its patience with short-term fixes.
WASHINGTON— House Republicans, scrambling to win conservative support for a bill addressing the immigration crisis on the border, have scheduled a companion vote on legislation to block President Barack Obama from extending deportation relief to any more immigrants here illegally.