Wall Street rallies as debt talks ease
The Dow climbs 323.09 to 15126.07, its best intraday gain this year, amid signs Republicans and President Obama work toward a six week borrowing authority extension. S&P 500 up 36.16 to 1692.56, Nasdaq up 82.97 to 3760.75 as markets price in a possible deal and avoid a sudden default.
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Associated Press
China becomes world's top net oil importer surpassing U S
U S data show China overtook the United States in September as the largest net oil importer driven by rapid economic growth and strong auto sales. EIA notes demand growth outstrips production by about 6.3 million barrels per day, with forecasts that this trend will persist into 2014.
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Peabody reaches deal over retiree health benefits
Peabody Energy will fund 310 million over four years for retirees' health care tied to Patriot Coal, plus 140 million in letters of credit to Patriot as it eyes emergence from Chapter 11. United Mine Workers to surrender most of its 35 percent Patriot stake. Patriot secures 250 million rights offering backstop. Peabody stock rose modestly.
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America
Merger suit asks to withhold government interview records
A federal special master recommended that courts deny American Airlines and US Airways access to names and statements from government interviewees, citing work product protections. He also urged limiting access to internal government deliberations from four past mergers. Trial set for November in Washington as shares modestly rose on news.
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