Mattel recalls over 9 million Chinese made toys for magnets and lead
Mattel and government officials warn parents after recalls of Polly Pocket Batman Barbie Tanner Cars and other Chinese made toys containing magnets and lead paint. About 9.3 million toys with magnets and 253,000 Cars die cast items are affected. No injuries reported in this batch but prior recalls included Dora Big Bird Elmo and other popular items. Mattel CEO Bob Eckert pledges intensified testing and oversight.
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Trade deficit falls as exports hit record level
The United States posted a four month low trade deficit of 58.1 billion dollars in June, down 1.7 percent from May, with imports from China setting an all time high. Chinese demand remains strong despite product recalls. July wholesale inflation rose 0.6 percent led by energy, while core prices rose 0.1 percent. The year to date deficit runs 705.5 billion, seven percent below last year’s record. Analysts expect further improvement and a possible growth revision higher."}
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Energy officials say fewer factories cut blackouts risk
Ohio factory closures have reduced industrial electricity use by about 22 percent from 1999 to 2003, easing grid stress. Residential and commercial demand grows, but the reduced industrial load helps the grid hold up in hot weather with fewer blackouts, officials say.
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