PENNSYLVANIA

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Wind Energy Stimulus Funds Benefiting Foreign Workers, Senators Charge

Four Democratic senators entered into the clean energy vs. jobs fray, charging that too much federal stimulus money for wind energy projects is going to foreign suppliers and creating jobs abroad instead of in the U.S. The administration and the domestic wind energy industry immediately rejected the lawmakers' charges, as the political pressure to reduce unemployment continued to fuel the economic debate in Washington.

Stocks climb on solid February jobs data

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U.S. stocks rose on Friday as data showed U.S. employers cut a smaller number of jobs than expected last month, signaling a continued recovery in the economy.

Jobless, productivity data lift recovery hopes

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The number of U.S. workers filing for jobless benefits fell last week, but a surprise drop in pending home sales to a 10-month low in January underscored the uneven nature of the economic recovery.
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Pending home sales unexpectedly plunge

The number of U.S. workers filing for jobless benefits fell last week, but a surprise decline in January pending home sales contracts to a 10-month low underscored the slow nature of the economic recovery.
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Weak data raises worries about recovery

Demand for a wide range of U.S. manufactured goods unexpectedly fell in January, while new applications for jobless benefits rose again last week, the latest data to suggest a step back in the economy's recovery.
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Durable orders ex-transport slip, jobs data weak

Demand for a wide range of U.S. manufactured goods unexpectedly fell in January, while new applications for jobless benefits rose again last week, suggesting a step back in the economic recovery.
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Bernanke pledge of low rates lifts Wall Street

U.S. stocks rose on Wednesday after Federal Reserve Chairman Ben Bernanke reaffirmed his commitment to keep interest rates low for an extended period to sustain the still-fragile recovery.
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FBI to probe alleged webcam syping case

The FBI will reportedly begin investigating allegations that a suburban Philadelphia school district spied on students using remotely activated Web cams without students being aware of it.
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Jobless, price data fan concerns on economy

The number of U.S. workers filing new applications for unemployment insurance unexpectedly surged last week, while producer prices increased sharply in January, raising potential hurdles for the economy's recovery.
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Philly Fed factory activity index up in Feb

Factory activity in the U.S. Mid-Atlantic region grew more than expected in February as new orders jumped to their highest in more than five years, a survey showed on Thursday.
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This Week In Petroleum

Groundhog Day, which is celebrated in the U.S. and Canada on February 2nd, has its origins in European weather folklore, where a badger rather than a groundhog is the weather forecaster. The most famous Groundhog Day celebration occurs in Punxsutawney, Pennsylvania. Tradition holds that if Punxsutawney Phil sees his shadow when emerging from his burrow, as he did this year, there will be six more weeks of winter weather. Overcast conditions and the absence of a shadow signify warmer weather for ...
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FirstEnergy to buy Allegheny for $4.7 billion

Ohio-based power company FirstEnergy Corp plans to buy Pennsylvania's Allegheny Energy Inc for $4.7 billion in stock to create one of the largest U.S. utilities, but regulatory hurdles loom.
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U.S. starts clean-up after record blizzards

The U.S. Northeast began to clean up after two blizzards in a week brought the region to a standstill with record snowfalls, leaving thousands without power and creating a multimillion-dollar mess.
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Wall St lower after Bernanke comments, Greece eyed

U.S. stocks fell on Wednesday as investors took a dim view of comments from the Federal Reserve chairman that although he still expects low interest rates for some time, the cheap funding that has underpinned a market rally since last March would end eventually.
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Home loan demand drops despite drop in rates

U.S. mortgage applications dipped last week, reflecting reduced demand for home purchase loans even as rates on 30-year loans fell to their lowest since December, an industry group said on Wednesday.
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US home loan demand drops despite drop in rates

U.S. mortgage applications dipped last week, reflecting reduced demand for home purchase loans even as rates on 30-year loans fell to their lowest since December, data from an industry group showed on Wednesday.
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Ex-Intel exec admits conspiring with Rajaratnam

A former Intel Capital director pleaded guilty on Monday to fraud in the Galleon insider trading case, telling a New York court that hedge fund founder Raj Rajaratnam gave him money for personal needs and that he profited from illegal trades.

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