Finance news

• UPDATE 1-NII Holdings' bankruptcy exit plan wins court approval - lawyer

  18-06-2015 23:59
  NEW YORK, June 18 (Reuters) - Nextel's bankrupt Latin
  American arm gained U.S. court approval on Thursday of a plan to
  exit Chapter 11 bankruptcy under the control of bondholders
  including Aurelius...
  
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• EXCLUSIVE-Cenovus in exclusive talks with Teachers' fund on land assets -sources

  18-06-2015 23:27
  TORONTO/CALGARY, June 18 (Reuters) - Cenovus Energy Inc is in exclusive talks to sell Canadian oil and gas royalty lands to the Ontario Teachers' Pension Plan in a deal that could fetch C$2.5 billion...
  
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• US stocks rise sharply on Fed relief; Nasdaq sets record

  18-06-2015 23:23 via news.yahoo.com
  
  U.S. stocks notched their biggest gains in a week Thursday, pushing the Nasdaq composite index to an all-time high.
  
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• NII Holdings' bankruptcy exit plan wins court approval - lawyer

  18-06-2015 23:23
  June 18 (Reuters) - Nextel's bankrupt Latin American arm
  gained U.S. court approval on Thursday of a plan to exit Chapter
  11 bankruptcy under the control of bondholders including
  Aurelius Capital...
  
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• Wall Street Journal to cut jobs, close bureaus

  18-06-2015 22:44 via news.yahoo.com
  
  News Corp, owner of the Wall Street Journal, is carrying out a major reorganization at its Dow Jones news publishing unit that will involve job cuts and shifting resources to digital media. Dow Jones, which has about 5,000 employees worldwide, will close bureaus in Prague and Helsinki and cut jobs in bureaus in Europe and Asia, Gerard Baker, editor-in-chief of Dow Jones and the WSJ, said in a staff memo seen by Reuters on Thursday.
  
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• Nasdaq at record as Wall Street runs on strong data; Greece eyed

  18-06-2015 22:30 via news.yahoo.com
  
  The Nasdaq Composite hit a high of 5,143.316, topping the previous 5,132.52 record which stood since March 10, 2000. It also set a record closing high, as did the Russell 2000 , while the S&P 500 closed within 0.5 percent of its record. "Economic growth is beginning to make itself more evident," said John Manley, chief equity strategist at Wells Fargo Funds Management in New York.
  
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• Stocks rise globally on Fed; Greece still a concern

  18-06-2015 22:28 via news.yahoo.com
  
  By Ryan Vlastelica NEW YORK (Reuters) - Stock markets around the world rallied on Thursday, while the U.S. dollar fell, a day after the Federal Reserve signalled that interest rates would rise more slowly than many had expected. U.S. stocks hit session highs after a German newspaper reported Greece's aid will be extended until year-end, and the Nasdaq hit a closing record. The Fed said on Wednesday that the economy was probably strong enough to support a rate increase this year.
  
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• Return of market shocks puts protection costs in spotlight

  18-06-2015 22:23 via news.yahoo.com
  
  Financial market volatility is making a comeback, tempting fund managers into taking out protection against stock-market falls after a near-unbroken five-year bull run in the United States and Europe. Active fund managers have both underperformed over the last five years and lost ground to cheaper rivals that track the market, raising the stakes over every slice of allocation - even the "drag" produced by keeping assets in cash. Investors lacking resources to manage more complex hedging strategi
  
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• US stocks rise sharply; Nasdaq closes at record

  18-06-2015 22:15 via news.yahoo.com
  
  U.S. stocks notched their biggest gains in a week, pushing the Nasdaq composite index to an all-time high.
  
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• Nasdaq hits record; Wall St. rallies on strong data

  18-06-2015 22:08 via news.yahoo.com
  
  (Reuters) - The Nasdaq Composite closed at a record on Thursday with stocks on Wall Street boosted by strong economic data.
  
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• Sequential Brands in talks to buy Martha Stewart Living Omnimedia - WSJ

  18-06-2015 21:24
  June 18 (Reuters) - Sequential Brands Group Inc, a brand management and licensing company, is nearing a deal to buy Martha Stewart Living Omnimedia Inc, the Wall Street Journal reported.
  
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• US stocks rise sharply; Nasdaq on track for record

  18-06-2015 21:18 via news.yahoo.com
  
  U.S. stock markets rose sharply in afternoon trading Thursday, putting the Nasdaq composite on track to close at an all-time high.
  
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• French government wins confidence vote over economic reforms

  18-06-2015 20:59 via news.yahoo.com
  
  France's Socialist government won a parliamentary vote of no confidence Thursday over a key package of reforms designed to energise the country's sluggish economy. The conservative opposition proposed the motion after Prime Minister Manuel Valls used a rare constitutional device earlier this week to push through the reforms without MPs being given the chance to vote. Valls resorted to forcing through the reforms because he feared that a sizeable group of left-wing rebels would block th
  
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• Putin's ally suggests Russian leader could hold early vote

  18-06-2015 20:54 via news.yahoo.com
  
  ST. PETERSBURG, Russia (AP) — Vladimir Putin's long-time ally suggested Thursday that the Russian president could order an early vote to win a mandate for much-needed economic reforms, comments that sent shock waves through Russia's business and political elite.
  
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• News Corp to reorganise, cut jobs in news publishing business

  18-06-2015 20:52 via news.yahoo.com
  
  News Corp , owner of the Wall Street Journal, is carrying out a major reorganization at its Dow Jones news publishing unit that will involve job cuts and shifting resources to digital media. Dow Jones, which has about 5,000 employees worldwide, will close bureaus in Prague and Helsinki and cut jobs in bureaus in Europe and Asia, Gerard Baker, editor-in-chief of Dow Jones and the WSJ, said in a staff memo seen by Reuters on Thursday. "The company has not given us a firm number of the positions cu
  
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• News Corp to reorganize, cut jobs in news publishing business

  18-06-2015 20:41 via news.yahoo.com
  
  News Corp, owner of the Wall Street Journal, is carrying out a major reorganization at its Dow Jones news publishing unit that will involve job cuts and shifting resources to digital media. Dow Jones, which has about 5,000 employees worldwide, will close bureaus in Prague and Helsinki and cut jobs in bureaus in Europe and Asia, Gerard Baker, editor-in-chief of Dow Jones and the WSJ, said in a staff memo seen by Reuters on Thursday. "The company has not given us a firm number of the positions cut
  
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• U.S. inflation stirring as energy-driven price plunge ebbs

  18-06-2015 20:36 via news.yahoo.com
  
  U.S. consumer prices in May recorded their largest increase in more than two years as gasoline prices surged, suggesting the drag on inflation from lower oil prices was fading. The number of Americans filing new applications for unemployment benefits fell last week to a near 15-year low and factory activity in the mid-Atlantic region accelerated to a six-month high in June. Price stability and a strengthening economy, highlighted by the tightening labor market, likely will push the Federal Reser
  
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• GM asking advisors for help rekindles FCA merger talk

  18-06-2015 20:29
  
  MILAN (Reuters) - General Motors seeking advice from investment banks shows it is taking an attempt by Fiat Chrysler Automobiles (FCA) to force a merger with its larger U.S. rival seriously, analysts...
  
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• Top tech fund likes data, chip shares as Nasdaq tops record

  18-06-2015 20:20 via news.yahoo.com
  
  By David Randall NEW YORK, June 18 (Reuters) - Out-of-favor networking and data centers look attractive as the Nasdaq Composite index breaks new records, said Kevin Landis, whose $133.4 million Firsthand Technology Opportunities fund is the top performing U.S. tech fund this year. Most tech investors continue to focus on wearable devices or so-called sharing economy companies such as taxi service Uber Inc or private real estate rental company Airbnb, Landis said.
  
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• For Greece to get aid, must be financially independent soon - Buba official

  18-06-2015 20:18 via news.yahoo.com
  
  For Greece to get further aid from its euro zone partners, they must be sure the country will become financially independent in the near future, a board member of Germany's central bank said on Thursday. "If Greece is to be helped now because the country is in an acute economic emergency, the countries showing solidarity need to be able to count on their payments not only improving the current situation," the Bundesbank's Carl-Ludwig Thiele said, according to the text of a speech he was to deliv
  
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• US stocks rise sharply; Harley climbs on buyback plan

  18-06-2015 20:07 via news.yahoo.com
  
  U.S. stock markets rose sharply in afternoon trading Thursday, putting them on pace to close higher for the third straight day.
  
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• Afghanistan to launch online marketplace to boost exports

  18-06-2015 19:46 via news.yahoo.com
  
  Afghanistan plans to launch its first online marketplace to allow local businesses to export products directly to world markets, an official said Thursday, the latest effort to boost the country's stalling economy. The Afghanistan International Commodity Exchange Market will aim to provide businesses access to international traders online and boost the exports for the landlocked economy that is reliant on trade routes through neighbouring countries. "In the past 14 years, Afghanistan h
  
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• Nasdaq tops dotcom high on buoyant data, Greece hopes

  18-06-2015 19:43 via news.yahoo.com
  
  The S&P and Dow were at their highest levels in about a month. Brian Fenske, head of sales trading at ITG in New York, said the Nasdaq was on firmer footing and there were no similarities between its rally in 2000 and the surge in recent months.
  
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• Stocks rise globally on Fed, Greece hopes

  18-06-2015 19:16 via news.yahoo.com
  
  Stock markets around the world rallied on Thursday, while the U.S. dollar fell, a day after the Federal Reserve signaled that interest rates would rise more slowly than many had expected. U.S. stocks hit session highs after the report, and the Nasdaq set a new intraday record, breaking one that had held since March 2000. On Wednesday, the Fed said that the economy was probably strong enough to support a rate increase this year.
  
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• News Corp to reorganize, cut jobs in news publishing business: WSJ

  18-06-2015 19:12 via news.yahoo.com
  
  (Reuters) - News Corp, owner of the Wall Street Journal, is carrying out a major reorganization at its Dow Jones news publishing unit that will involve job cuts and shifting of resources into digital media, the Wall Street Journal reported. Dow Jones will close bureaus in Prague and Helsinki and cut jobs in bureaus in Europe and Asia, Gerard Baker, editor in chief of Dow Jones and the WSJ, said in a staff memo on Thursday, according to the Journal.
  
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• London close: Late rally helps UK stocks bounce off five-month low as US markets jump

  18-06-2015 19:09 via news.yahoo.com
  
  After an earlier fall, UK stock markets rallied into the afternoon, snapping a four-day losing streak and bouncing off a five-month low as a strong start on Wall Street outweighed ongoing concerns about ...
  
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• More Money Coming Out of 401(k)s Than In

  18-06-2015 18:48 via news.yahoo.com
  
  The amount of money withdrawn from 401(k) plans exceeded the amount contributed to the retirement funds for the first time in 2013, according to a report in The Wall Street Journal. The shift reflect demographic changes as more Baby Boomer retire from the workforce and begin tapping their savings, and young millennial workers put smaller amounts in. “It changes the dynamic of the business itself,” J.P. Morgan Chase analyst Ken Worthington told The Journal.
  
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• Russia tries to shrug off crisis as West snubs investment forum

  18-06-2015 18:39 via news.yahoo.com
  
  Russian officials tried to play down fears about the country's economic crisis Thursday as tensions with the West over Ukraine cast a pall over its showcase investment forum. Once billed as Russia's answer to Davos, the three-day Saint Petersburg International Economic Forum has Greek Prime Minister Alexis Tsipras visiting but many Western leaders and CEOs staying away amid the fallout of the Ukraine conflict. Attention is focused on Russia's economic woes, with the country having
  
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• Pope urges revolution to save Earth, fix 'perverse' economy

  18-06-2015 18:37 via news.yahoo.com
  
  VATICAN CITY (AP) — In a sweeping environmental manifesto aimed at spurring action, Pope Francis called Thursday for a bold cultural revolution to correct what he said was a "structurally perverse" economic system in which the rich exploited the poor, turning Earth into an "immense pile of filth."
  
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• Gasoline lifts U.S. consumer prices; economy picks up speed

  18-06-2015 18:36 via news.yahoo.com
  
  U.S. consumer prices in May recorded their largest increase in more than two years as gasoline prices surged, suggesting the impact of lower oil prices on inflation probably was fading. Other data on Thursday showed the economy was gaining speed after stumbling in the first quarter. New applications for unemployment benefits fell last week to a near 15-year low and factory activity in the mid-Atlantic region accelerated to a six-month high in June.
  
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• House win revives Obama's Pacific trade pact

  18-06-2015 18:35 via news.yahoo.com
  
  The House of Representatives voted 218 to 208 to give the White House authority to close trade deals such as the 12-nation Trans-Pacific Partnership (TPP), which encompasses 40 percent of the global economy and is close to completion. The House has been wrestling for weeks with fast-track authority, which lets lawmakers set negotiating objectives for trade deals, such as the TPP, but restricts them to a yes-or-no vote on the finished agreement. Democrats last week dramatically rejected a persona
  
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• House backs 'fast-track' trade bill on second attempt

  18-06-2015 18:30 via news.yahoo.com
  
  WASHINGTON (Reuters) - The U.S. House of Representatives on Thursday approved "fast-track" trade negotiating authority, which President Barack Obama needs to complete a 12-nation Pacific Rim trade pact, although the bill must go back to the Senate for another vote. The 218-208 House vote to approve the measure on a second attempt in less than one week gives a boost to hopes for swift completion of the Trans-Pacific Partnership, which is central to Obama's focus on strengthening As
  
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• Wall Street pulls European stocks out of doldrums

  18-06-2015 18:23 via news.yahoo.com
  
  Europe's main stock markets rose on Thursday, following on the coat tails of a Wall Street energised by a fall in US jobless benefits claims. In foreign exchange trade, the euro hit a one month peak at $1.1420 with the dollar after the Federal Reserve said any rises in US interest rates would be slow, before easing to $1.1407. European markets had earlier traded lower as eurozone finance ministers were gathering to discuss Greece after a barrage of warnings that the country risks a damaging
  
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• Permira, Google may jointly bid for Tesco's data unit: source

  18-06-2015 17:58
  (Reuters) - Internet search giant Google Incand private equity fund Permira [PERM.UL] are in talks to make a joint bid for British retailer Tesco Plc'scustomer data business, a source familiar...
  
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• AIRSHOW-Airbus says weighing up both Skymark rescue plans

  18-06-2015 17:58
  PARIS, June 18 (Reuters) - Airbus said on Thursday
  it was studying two proposals to revive Skymark and
  would favour any plan that both gives the bankrupt Japanese
  airline a future and takes account...
  
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• Nasdaq breaks record-high set during dotcom boom

  18-06-2015 17:56 via news.yahoo.com
  
  The S&P and Dow were at their highest levels since early June. The Fed said on Wednesday that the U.S. economy was likely strong enough to withstand an interest rate increase later this year but cut its economic growth forecasts for 2015 because of a weak start to the year. "Today's markets are higher on a combination of the data and the Fed signaling that it will begin raising rates this year but at a shallower pace," said Jack Ablin, chief investment officer at BMO Private B
  
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• TSX rises modestly as Greek concern limits Fed relief

  18-06-2015 17:41 via news.yahoo.com
  
  By Solarina Ho TORONTO (Reuters) - Canada's main stock index advanced marginally on Thursday, with gains limited by declines in energy and financial shares, as the lift in market sentiment provided by a more dovish U.S. Federal Reserve tone was undercut by concern over the Greek debt crisis. Investors who were worried about an impending Fed interest rate hike took comfort in the view the Fed expressed in its statement on Wednesday that slower economic growth would slow the pace of rate hike
  
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• Nasdaq just shy of all-time high on strong data

  18-06-2015 17:25 via news.yahoo.com
  
  The Nasdaq topped its 52-week high on April 27 and was just shy of its all-time high on March 10, 2000. The S&P and Dow were at their highest levels since early June. The Fed said on Wednesday that the U.S. economy is likely strong enough to withstand an interest rate increase later this year but cut its economic growth forecasts for 2015 because of a weak start to the year.
  
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• Suspended NBC anchor Brian Williams to break silence in Matt Lauer interview - CNN Money

  18-06-2015 17:21
  June 18 (Reuters) - NBC news anchor Brian Williams, suspended for fabricating a story about him coming under fire while being aboard a helicopter in Iraq, has broken his silence in an interview with...
  
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• U.S. Treasury to sell $90 bln in notes

  18-06-2015 17:19
  WASHINGTON, June 18 (Reuters) - For details of the U.S. Treasury's auction of 2-year, 5-year and 7-year notes next week, see:
  
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• 'Fast-track' trade bill clears key hurdle in House

  18-06-2015 17:18 via news.yahoo.com
  
  By Krista Hughes and Richard Cowan WASHINGTON (Reuters) - President Barack Obama's request for "fast-track" trade negotiating authority cleared a key procedural hurdle on Thursday when the U.S. House of Representatives approved the rules for debating the measure. By a vote of 244-181, the House advanced the controversial trade legislation, which would bolster chances for a 12-nation Pacific Rim trade deal, with a vote on passage expected to follow soon. If the bill is approved by
  
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• FOREX-Dollar declines as U.S. rate uncertainty grows

  18-06-2015 17:17
  * Euro rises past $1.14 to highest in a month (Recasts, updates prices and changes byline and dateline; previous LONDON)
  
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• Average US rate on 30-year mortgage eases to 4 percent

  18-06-2015 17:16 via news.yahoo.com
  
  WASHINGTON (AP) — Average long-term U.S. mortgage rates eased this week after hitting their highest levels this year in the previous week.
  
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• Fitbit shows off its pipes in NYSE debut as shares soar

  18-06-2015 17:13 via news.yahoo.com
  
  NEW YORK (AP) — Fitbit flexed some muscle Thursday and its shares rocketed 50 percent higher in the first day of trading for the fitness tracking gear maker.
  
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• Nokia CEO says to get back into phones - Manager Magazin

  18-06-2015 17:10
  FRANKFURT, June 18 (Reuters) - Nokia, once the world's biggest maker of mobile phones, plans to start designing and licensing handsets again once an agreement with partner Microsoft allows it to in...
  
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• Wall Street up on Fed, dollar down for second day

  18-06-2015 17:08 via news.yahoo.com
  
  By Ryan Vlastelica NEW YORK (Reuters) - Wall Street stocks were widely higher on Thursday while the U.S. dollar fell a day after the Federal Reserve signalled that interest rates would rise more slowly than many had expected. On Wednesday, the Fed said that the economy was probably strong enough to support a rate increase this year. "Gradualism for rate increases is a soothing message for the market," said Alan Gayle, senior investment strategist and director of asset allocation at Rid
  
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• Exclusive: Deposit withdrawals surge at Greek banks as debt noose tightens

  18-06-2015 17:08 via news.yahoo.com
  
  By Lefteris Papadimas and George Georgiopoulos ATHENS (Reuters) - Greek savers have pulled about 2 billion euros out of banks over the past three days, with the pace of outflow accelerating rapidly since the collapse of talks at the weekend with creditors, three banking sources told Reuters on Thursday. The spike in withdrawals piles yet more pressure on Greece's battered banks and provides new evidence of the hit to the financial system and broader economy from deadlocked negotiations between A
  
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• U.S. researchers see auto fuel standards driving technology

  18-06-2015 17:03 via news.yahoo.com
  
  U.S. cars and light trucks will become more fuel efficient and safer -- but also more expensive -- by the end of the next decade, as a result of increasingly stringent environmental standards, a new research report said on Thursday. The report, released by the National Research Council, said fuel economy and greenhouse gas emission standards will drive new powertrain designs, alternative fuels, more advanced materials and changes to body vehicle design. Most gains in fuel consumption will come f
  
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• European stocks fall before eurozone ministers meet on Greece

  18-06-2015 17:02 via news.yahoo.com
  
  Europe's main stock markets fell on Thursday ahead of crunch Eurogroup talks on Greece, as hopes faded of a deal between Athens and its creditors over bailout repayments, dealers said. In foreign exchange trade, the euro hit a one-month peak of $1.1420 with the dollar after the Federal Reserve said any rises in US interest rates would be slow, before easing slightly to $1.1411. Cash-strapped Athens badly needs the aid to honour loan repayments to the International Monetary Fund by the end o
  
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• Detroit's county seeks state help for fiscal woes

  18-06-2015 17:02
  June 18 (Reuters) - Michigan's Wayne County, home of Detroit, has asked the state for a fiscal emergency declaration to deal with a chronic budget deficit, spokesmen for the county and state...
  
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