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Gas jumps above $3.67, oil passes $126 on Venezuela concerns

Gas jumps above $3.67, oil passes $126 on Venezuela concerns

NEW YORK -- Oil rose above $126 a barrel for the first time Friday, bringing its advance this week to nearly $10, as investors questioned whether a possible confrontation between the U.S. and Venezuela could cut exports from the OPEC member. Gas prices, meanwhile, rose above an average $3.67 a gallon at the pump, following oil's recent path higher. [Full Story]

  • Mother's Day spending may be down in slower economy

    Mother's Day spending may be down in slower economy

    CINCINNATI -- Some moms may not be getting both chocolates and a bouquet for Mother's Day this year as consumers watch their spending. Even businesses that traditionally benefit from the holiday, like florists and restaurants, are offering special offers and products.


  • March trade deficit drops by bigger-than-expected amount

    March trade deficit drops by bigger-than-expected amount

    WASHINGTON -- The U.S. trade deficit narrowed sharply in March as demand for imports fell by the largest amount since the last recession was ending.


  • AIG posts 1Q loss of $7.8B, plans to raise $12.5B

    AIG posts 1Q loss of $7.8B, plans to raise $12.5B

    NEW YORK -- American International Group Inc. says it will raise $12.5 billion in the coming months as the insurer looks to shore up a capital base that has been rocked by deterioration in the credit markets.


  • Facebook, states set bullying, predator safeguards

    Facebook, states set bullying, predator safeguards

    HARTFORD, Conn. -- Facebook, the world's second-largest social networking Web site, is adding more than 40 new safeguards to protect young users from sexual predators and cyberbullies, attorneys general from several states said Thursday.


  • BJ's April same-store sales up partly on gas sales

    BJ's April same-store sales up partly on gas sales

    NATICK, Mass. -- BJ's Wholesale Club says its April same-store sales climbed 17.8 percent on gasoline sales and one extra day in the period, due to a shift in the Easter holiday.


  • Jobless claims post sharp decline

    Jobless claims post sharp decline

    WASHINGTON -- The number of newly laid off workers seeking unemployment benefits dropped much more than expected last week.


  • Retailers report mixed results in April

    Retailers report mixed results in April

    NEW YORK -- Consumers gave some of the nation's retailers a little relief in April following months of dismal sales, but business was helped along by heavy discounting that could hurt first-quarter earnings.


  • Housing aid bills face vetoes by President Bush

    Housing aid bills face vetoes by President Bush

    WASHINGTON -- Strapped homeowners could refinance into government-backed mortgages and states would get money to deal with foreclosed property under Democrats' housing aid plan.


  • Study: Foreclosure surge hits New England renters hard

    Study: Foreclosure surge hits New England renters hard

    WASHINGTON -- Lease-abiding renters in four New England states are losing their homes to foreclosure as fast or faster than single-family homeowners who default on mortgages.


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