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Obama opposes bill on Keystone XL oil pipeline
WASHINGTON (AP) — The White House says President Barack Obama opposes a House of Representatives bill that would speed approval of the proposed Keystone XL oil pipeline from Canada to Texas.
Should we let wunderkinds drop out of high school?
It’s one thing to say tech geniuses don’t need degrees. After all, Bill Gates, Steve Jobs and Mark Zuckerberg all dropped out of college. But now we’ve got David Karp, who doesn’t even have a high school diploma. Karp, 26, founded Tumblr, the online blogging forum, and sold it to Yahoo for $1.1 billion.
Microsoft reveals Xbox One, next-generation gaming
Microsoft thinks it has the one. The company revealed the Xbox One, its next-generation entertainment console Tuesday. The console was demonstrated using voice control to switch among watching live TV, listening to music and browsing the Internet, as well as simultaneously running apps.
Apple’s Cook faces Senate questions on taxes
Apple’s CEO is disputing assertions by a Senate panel that the company avoids billions of dollars in U.S. taxes by shifting profits to foreign affiliates.
Expert: Summer gas costs likely lower than 2012
A Purdue University economist says he expects this summer’s gasoline prices to be lower than last year. Energy economics specialist Wally Tyner projects prices in the Midwest will be between $3.50 and $3.90 a gallon.
Stock indexes close higher on hopes for Fed
Stocks closed higher on Wall Street as investors bank on continued support from the Federal Reserve. Stock indexes wobbled between gains and losses in early trading, then took a turn higher after the head of the Fed’s St. Louis branch said the Fed should keep buying bonds to energize the economic recovery.
United in deal with SkyWest to run 40 Embraer jets
United Airlines has signed a deal that will have SkyWest Airlines run 40 Embraer planes under the United Express brand. The Embraer 175 is the first regional jet in the United Express fleet.
Special K churns out products in brand evolution
Special K first hit shelves in 1955 as a no-frills breakfast alternative but now caters to dieters who see its airy chips and pastries as a way to beat cravings and lose weight. And this summer, Kellogg Co. is building on its biggest moneymaker with a “hot cereal” called Special K Nourish that’s made with quinoa and other grains.
Warren Buffett meets with young entrepreneurs
Billionaire Warren Buffett is spending his day listening to business pitches from a select group of kids, but the ideas aren’t likely to generate new acquisitions for Buffett’s Berkshire Hathaway.
Seamless, GrubHub to combine
Rival online takeout services Seamless North America and GrubHub on Monday announced plans to combine and create a new company covering more than 20,000 restaurants in 500 cities across the U.S.
Small-company stocks take the limelight
Small companies are taking the limelight on a choppy start to the week. The Russell 2000, an index of small-company stocks, rose above 1,000 for the first time Monday. The index is outpacing the Dow Jones industrial average and the Standard & Poor’s 500 index this year.
Yahoo takes big leap with $1.1B deal for Tumblr
SAN FRANCISCO — Yahoo is buying online blogging forum Tumblr for $1.1 billion as CEO Marissa Mayer tries to rejuvenate an Internet icon that had fallen behind the times. The deal announced Monday represents Mayer’s boldest move yet since she left Google 10 months ago …
United restarts 787 flights after grounding
United Airlines is again flying the 787, four months after smoldering batteries forced the plane to be grounded worldwide. A United 787 flight took off from Houston on Monday morning and landed in Chicago.
Jamie Dimon under pressure ahead of JPMorgan Chase investor vote
NEW YORK — Jamie Dimon, chairman and CEO of the country’s biggest bank, faces a key test this week: His shareholders are voting on whether to let him keep both jobs. It has been just more than a year since his bank, JPMorgan Chase, revealed a surprise trading loss that tarnished its usually stellar reputation in Washington and on Wall Street, and what a difference it has made. Shareholder groups are calling for the bank to strip him of his chairman job.
Report: Yahoo nearing $1.1B acquisition of Tumblr
Yahoo may be on the verge of closing its biggest acquisition during the 10-month reign of CEO Marissa Mayer as she tries to attract more traffic and advertisers to the Internet company’s website and mobile applications.
