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  • News Summary: Wells Fargo net income rises in 3Q Friday, 12 Oct 2012 | 3:11 PM ET

    TOP- LINE GAINS: Wells Fargo posted record earnings in the third quarter. Wells' net income in the quarter ended Sept. 30 rose 23 percent, to $4.72 billion from $3.84 billion in the same period last year. New mortgage loan originations rose to $139 billion from $89 billion in last year's third quarter.

  • Citigroup downgrades Seagate, Western Digital Friday, 12 Oct 2012 | 3:06 PM ET

    NEW YORK-- A Citigroup analyst on Friday downgraded the shares of Seagate Technology PLC and Western Digital Corp., two leading makers of hard drives, to "Sell" from "Buy" because he sees weakness not just in the PC sector, but in corporate spending on servers and storage arrays, which also use hard drives.

  • Federal deficit tops $1 trillion for fourth year Friday, 12 Oct 2012 | 3:06 PM ET

    WASHINGTON-- The federal budget deficit has topped $1 trillion for a fourth straight year. The Treasury Department said Friday that the deficit for the 2012 budget year totaled $1.1 trillion.

  • Protesters set up camp at retired detective's home Friday, 12 Oct 2012 | 3:05 PM ET

    A Thursday bankruptcy court hearing involving retired Atlanta police Detective Jaqueline Barber's home in Fayetteville did not go her way, said Tim Franzen, a leader of Occupy Our Homes ATL. Franzen said more than 30 people were camped out in the yard on Friday, and several of the officers who worked with Barber on the Atlanta force joined the effort.

  • *Longshore Union challenging new Seattle arena plan Friday, 12 Oct 2012 | 3:04 PM ET
  • Sector Snap: Travelzoo warning hits competitors Friday, 12 Oct 2012 | 3:02 PM ET

    Shares of online travel companies fell Friday after Travelzoo Inc. warned investors that its third-quarter profit would likely shrink 40 percent from the prior year. Online travel companies such as Travelzoo, Expedia Inc. and Priceline.com Inc. are in intense competition for customers, who remain somewhat cautious about their spending.

  • Contaminated lot in Providence turned into nursery Friday, 12 Oct 2012 | 3:02 PM ET

    PROVIDENCE, R.I.-- A nonprofit that promotes urban ecology in part through environmental job training has transformed a contaminated lot in Providence into a nursery with 300 trees. Groundwork Providence on Friday morning marked the opening of the Hope Tree Nursery in the city's Elmwood section.

  • *Weekly jobless claims up, but 4-week average down Friday, 12 Oct 2012 | 3:01 PM ET
  • Indicted resort suitor's lawyer wants off case Friday, 12 Oct 2012 | 3:00 PM ET

    BOISE, Idaho-- The lawyer for a would-be Tamarack Resort buyer under federal indictment wants off the fraud case, citing deep communication problems over legal strategy and a potential conflict of interest.

  • Sears' Hometown spinoff rises in debut Friday, 12 Oct 2012 | 2:58 PM ET

    NEW YORK-- Shares of Sears Holdings Corp.' s spinoff of its Hometown and Outlet Stores are rising on their debut trading day. The Hoffman Estates, Ill., company, which runs Kmart and Sears stores, had signaled in February that it would split off Sears Hometown and Outlet Stores Inc. as a separate publicly traded entity.

  • US drops 2 to 1,835 rigs exploring for oil, gas Friday, 12 Oct 2012 | 2:58 PM ET

    Texas- based oilfield services company Baker Hughes Inc. reported Friday that 1,411 rigs were exploring for oil and 422 were searching for gas. Of the major oil- and gas-producing states, Texas gained four rigs while Alaska, New Mexico and Oklahoma gained one apiece. Arkansas, Colorado, North Dakota and Wyoming lost one rig apiece.

  • *3 cars of freight train derail in central Pa. Friday, 12 Oct 2012 | 2:57 PM ET
  • *Detroit to rehire 26 firefighters with $5.6M grant Friday, 12 Oct 2012 | 2:55 PM ET
  • *SC nuke plant gets extra checks after power outage Friday, 12 Oct 2012 | 2:54 PM ET
  • Linn climbs in 1st trading day Friday, 12 Oct 2012 | 2:49 PM ET

    NEW YORK-- Shares of LinnCo LLC, a subsidiary of oil and natural gas developer Linn Energy LLC, rose nearly 4 percent in its first day of trading on the Nasdaq. The Houston company raised about $1.1 billion in its initial public stock offering, selling 30.3 million shares for $36.50 each. Trading under the "LNCO" symbol, shares added $1.30 to $37.80 in afternoon trading.

  • Earnings Preview: UnitedHealth reports on 3Q Tues Friday, 12 Oct 2012 | 2:43 PM ET

    UnitedHealth Group Inc. has spoiled the surprise for investors by already stating that its third-quarter net income will top Wall Street expectations, but the nation's largest health insurer will release more details on Tuesday.

  • Dems in coal states diverge on Obama policies Friday, 12 Oct 2012 | 2:34 PM ET

    They fault President Barack Obama and his Environmental Protection Agency for new clean air rules they deride as a devastating blow to a multibillion-dollar industry that has been the lifeblood of Appalachia for generations.

  • *DPS says 3 die in Central Texas helicopter crash Friday, 12 Oct 2012 | 2:27 PM ET
  • SAfrica: Striking truckers sign wage deal Friday, 12 Oct 2012 | 2:24 PM ET

    JOHANNESBURG-- A strike by 20,000 truckers in South Africa ended Friday with an agreement to increase wages, said the strikers' union. The truckers signed a three-year wage deal that gives them a 10 percent pay raise in the first year, said Vincent Masoga, spokesman for the South African Transport and Allied Workers' Union.

  • Greenbrier resort buys historic W.Va. course Friday, 12 Oct 2012 | 2:10 PM ET

    CHARLESTON, W.Va.-- The Greenbrier resort is buying one of the nation's oldest golf courses after it failed to sell at auction over the summer, the resort's owner told The Associated Press on Friday. Greenbrier owner Jim Justice confirmed the purchase of Oakhurst Links.