GM plans $5B stock buyback, averts showdown with hedge funds

DETROIT — General Motors announced a $5 billion stock buyback as part of a plan to return more cash to investors. In return, an activist shareholder decided to drop a potentially divisive bid for a seat on the company's board. The moves, announced Monday,...

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US stock indexes climb, steadying after a big sell-off

NEW YORK — U.S. stocks made slight gains on Monday as the market steadied after a big sell-off on Friday. Stocks slumped last week when a strong jobs report boosted expectations that the Federal Reserve would raise interest rates this summer. General...

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CBO projects $486B budget deficit, about same as last year

WASHINGTON — The federal budget deficit will hit $486 billion this year, nearly matching the lowest shortfall of President Barack Obama's term in office, according to projections released Monday by the nonpartisan Congressional Budget Office. The deficit...

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Gas up another 8 cents per gallon Massachusetts

BOSTON — Massachusetts gas prices are continuing their rise, up another 8 cents per gallon in the past week alone. AAA Northeast reports Monday that a gallon of self-serve, regular is up to an average of $2.45. In-state prices have now risen 28 cents...

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PlayStation network debuts 'Powers' scripted series

NEW YORK — Ability does not imply accomplishment. And accomplishment is no prerequisite for fame. This we know all too well from reality TV. (Hint: Snooki.) But today's viral sprawl of celebrity is explored in fresh fashion by a new series spawned from...

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High court: Amtrak like gov't agency in helping set rules

WASHINGTON — A unanimous Supreme Court ruled Monday that Amtrak is more like a part of the government than a private corporation when it helps federal agencies craft rules to keep trains running on time. But the justices said it's up to lower courts...

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Alcoa to buy RTI Intl in $1.5B deal, expand aerospace push

Alcoa is taking another step to bolster its stake in the aerospace industry with a $1.5 billion deal to buy titanium supplier RTI International Metals. The New York-based company said Monday that it will buy the specialty metal products company in an...

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Sony Mobile cuts 1,000 jobs at unit in Sweden

STOCKHOLM — Sony says it will cut 1,000 jobs at a mobile phone unit in Lund, Sweden. Sony Mobile Communications spokeswoman Kajsa Petersson said Monday the move is part of staff cuts announced last month when Sony said it would lay off 2,100 employees...

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Obama calls for effort to boost high-tech training, hiring

WASHINGTON — Targeting stagnant wages in an otherwise improving economy, President Barack Obama on Monday called on employers, educational institutions and local governments to develop a home grown high technology workforce that could help drive up higher-income...

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APPLE EVENT LIVE: Tim Cook takes stage, talks Apple TV

SAN FRANCISCO — CEO Tim Cook has taken the stage at Apple's event this morning in San Francisco. He is expected to unveil the company's newest device, the smartwatch, and make the case for why it's a must-have gadget. Apple teased the smartwatch in...

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