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Goldman profit and pay surge in blowout quarter

Goldman Sachs Group Inc said quarterly earnings surged 33 percent on blowout trading results, trouncing forecasts and putting the bank on pace for hefty bonuses that could draw unwanted scrutiny.

Autos lift U.S. retail sales; inflation perks up

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A jump in auto and gasoline sales salvaged an otherwise lackluster June for U.S. retailers, while an inflation gauge jumped by twice as much as expected, suggesting a long-awaited economic recovery will be sluggish.
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House Democrats vow healthcare plan by August

U.S. President Barack Obama's plans to overhaul the $2.5 trillion healthcare industry got a boost on Tuesday as Democrats in the House of Representatives offered sweeping legislation and predicted passage on schedule by August.
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Oil prices dip on demand worries

U.S. oil prices dipped into negative territory on Tuesday as dealers worried a slow and bumpy economic recovery could delay a rebound in ailing world energy demand.
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J&J profit falls but beats forecasts

Johnson & Johnson posted a 5 percent drop in second-quarter earnings on Tuesday, but profit and revenue beat analysts' forecasts thanks to surprisingly resilient pharmaceutical and consumer product sales.
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Obama admin pushes financial consumer watchdog

The U.S. government's fragmented system for protecting financial consumers is designed to fail and must be replaced by a single, powerful new agency, a senior U.S. Treasury official said on Tuesday.
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CBS joins Comcast On Demand Online trial

Comcast Corp has signed up CBS Corp as the first broadcast network to participate in the cable company's technical trial of a program to make more television shows available to Internet users.
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Madoff's prison life begins in North Carolina

Bernard Madoff's prison life began on Tuesday, a long way from the luxury homes, sleek yachts and precious designer watches and clothes he accumulated in the years he ran Wall Street's biggest investment fraud.
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Mid-Day Minute - July 14

Goldman reports soaring 2Q profits, Treasury Sec. says economy improving quicker than expected, J&J beats expectations
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Autos lift retail sales as inflation perks up

A jump in auto and gasoline sales salvaged an otherwise lackluster June for U.S. retailers, while an inflation gauge jumped by twice as much as expected, suggesting a long-awaited economic recovery will be sluggish.
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Madoff moving to federal prison

Swindler Bernard Madoff was temporarily moved to a prison in Atlanta from New York and was in transit to yet another facility on Tuesday, a U.S. official said.
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Obama to unveil $12 billion community college plan

President Barack Obama will unveil a $12 billion initiative on Tuesday to boost community colleges and propel the United States toward his goal of having the highest proportion of college graduates in the world by 2020, administration officials said.
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Consumer financial protection flawed: Treasury

The current U.S. system of consumer financial protection is designed to fail and needs replacement with a dedicated new agency that can respond more quickly to emerging problems in the financial sector, a senior U.S. Treasury official said on Tuesday.
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Madoff relocates a second time

Jailed author of the biggest Ponzi scheme in U.S. history is on his the move again. He is currently being transferred from a medium security prison in Atlanta to an undisclosed location, according to the Federal Bureau of Prisons.
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Blair says West Bank bottom-up effort gets result

Improving conditions for Palestinians in the Israeli-occupied West Bank prove that a Palestinian state can be built from the bottom up while it's being negotiated from the top down, Tony Blair said Tuesday.
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Midday minute July 14 – Finance

Jailed author of the biggest Ponzi scheme in U.S. history is on his the move again. He is currently being transferred from a medium security prison in Atlanta to an undisclosed location, according to the Federal Bureau of Prisons, CNN reported. Madoff arrived at the Atlanta prison on Tuesday after he was moved from his New York jail cell.
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Midday minute - July 14 - Energy

Oil giant Exxon Mobil Corporation announced Tuesday it will invest more than $600 million and partner with biotech firm Synthetic Genomics Inc.to develop biofuels from photosynthetic algae at a large scale.
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J&J profit falls but trumps forecasts

Johnson & Johnson posted a 5 percent drop in second-quarter earnings, but profit and revenue beat analyst forecasts helped by surprisingly resilient pharmaceutical and consumer product sales.

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