Massachusetts gas prices drop 9 cents per gallon

BOSTON — Massachusetts gas prices continued their downward spiral, dropping another 9 cents per gallon in the past week to an average of $3.17. AAA Southern New England said Monday the cost of a gallon of self-serve, regular in the Bay State has now...

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Justices won't revive Louisiana parish claims

WASHINGTON — The Supreme Court rejected an appeal Monday from 11 Louisiana parishes that wanted to revive their lawsuits over wildlife damage from the BP oil spill in the Gulf of Mexico in 2010. The justices did not comment in leaving in place lower...

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Sears plans to raise more cash via rights offering

HOFFMAN ESTATES, Ill. — Sears is looking to raise more cash, announcing that it is planning a rights offering that may raise up to $625 million. The company, which runs Kmart and its namesake stores, also said Monday that it struck a leasing deal with...

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Cubist Pharma CEO Bonney will step down Dec. 31

NEW YORK — Antibiotic maker Cubist Pharmaceuticals said Monday that Michael Bonney will retire as CEO at the end of the year, and the company said it will promote President Robert Perez to take his place. Bonney will retire as CEO on Dec. 31, and Perez...

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Justices will decide privacy case on hotel records

WASHINGTON — The Supreme Court agreed Monday to referee a dispute over police access to hotels' guest information without first getting a search warrant. The justices said they will hear an appeal by the city of Los Angeles of a lower court ruling that...

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Toyota adds 247K vehicles to air bag recall tally

DETROIT — Toyota is recalling 247,000 vehicles in high-humidity areas as an air bag problem that has plagued most of the auto industry continues to widen. The recall posed Monday by U.S. safety regulators covers the 2003 to 2005 Corolla and Matrix,...

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Canadian Pacific ends CSX deal talks

Canadian Pacific Railway has ended talks with U.S. counterpart CSX about a possible combination and plans no more discussions. The railway operator did not say on Monday why it ended talks, but it did note in a brief statement that regulatory concerns...

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US stocks move higher; IBM disappoints

NEW YORK — U.S. stocks were mostly higher Monday following a turbulent week. The market's gains were partly held back by IBM, which slid after reporting results that missed investor expectations. KEEPING SCORE: The Dow Jones industrial average lost...

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IBM to pay $1.5B to shed its costly chip division

NEW YORK — IBM will pay $1.5 billion to Globalfoundries in order to shed its costly chip division. IBM Director of Research John E. Kelly III said in an interview Monday that handing over control of the semiconductor operations will allow it to grow...

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China's growth likely to slow, research group says

NEW YORK — China's economic growth will decelerate to 4 percent a year between 2020 to 2025 — well below widespread expectations of steady 7 percent to 8 percent growth over the next decade, a business research group predicted. The Conference Board...

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