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German business cofidence up, dollar is down
Business confidence rises unexpectedly in Germany
BERLIN (AP) -- A closely-watched survey has found business confidence in Germany unexpectedly rising this month following six straight declines.
Munich's Ifo institute reported Friday that its key business climate figure rose to 101.4 points in November from 100 in October. Economists had been predicting a modest drop to 99.5.
Germany's economy, Europe's biggest, has recovered strongly from its deep recession in 2008-09 despite the mounting debt problems on its doorstep. However, there have been recent signs that its export-driven economy is beginning to slow amid weakening demand from other countries.
Earlier this month, the German government's panel of independent economic advisers forecast that the economy will grow by only 0.8 percent this year and next.
Euro jumps vs dollar on German business confidence
NEW YORK (AP) -- The euro is rising sharply against the dollar after a closely watched survey on German business confidence rose unexpectedly.
Germany's Ifo institute says its key business climate figure rose to 101.4 points in November from 100 in October. Economists expected a drop to 99.5.
Currency trading is light on Friday as many traders take a long weekend after Thanksgiving Day. The stock market will close early Friday, at 1 p.m. EST.
The euro rose to $1.2980 in afternoon trading from $1.2883. The British pound rose to $1.6042 from $1.5937.
The dollar fell to 82.32 Japanese yen from 82.43 yen, to 0.9273 Swiss franc from 0.9351 Swiss franc and to 99.17 Canadian cents from 99.75 Canadian cents.
Posted: Friday, November 23 2012, 03:21 PM CST
IN OKLAHOMA NEWS
Major accomplishments of 2013 Oklahoma Legislature
May 24, 2013 23:22 GMT
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OKLAHOMA CITY (AP) -- Major items passed by the Oklahoma Legislature, which was working Friday to wrap up its 2013 session:
-- Tax Cut: Lawmakers adopted legislation that reduces the state's top income rate from 5.25 percent to 5 percent beginning Jan. 1, 2015, with a second cut to 4.85 percent set for 2016 if state revenues continue to rise. The measure has been signed into law by Gov. Mary Fallin.
-- State Capitol Improvements: The tax cut bill also diverts $120 million in income tax revenue over the next two years to a fund that will finance improvements and repairs to the State Capitol building. Built between 1914 and 1917, yellow barricades now ring the building's south plaza to keep pedestrians from walking beneath pieces of a limestone facade that has crumbled from the building.
-- Budget Bill: The Legislature adopted a $7.1 billion general appropriations bill to fund state government for the fiscal year that begins July 1. The bill increases spending by nearly $270 million over the current year's budget, with funding growth focused mostly on education, health care and human services.
-- Worker's Compensation: Fallin signed legislation to overhaul the state's workers' compensation system. The measure changes Oklahoma's current court-based system to an administrative structure. Supporters say the change will dramatically reduce workers' compensation costs to businesses.
-- CompSource: Lawmakers also passed a measure that converts the nonprofit CompSource Oklahoma into an independent mutual company that will be known as CompSource Mutual Insurance Company. The agency writes about one-third of Oklahoma's workers' compensation policies.
-- Rainy Day Appropriation: Within days of devastating tornadoes that struck Moore, Shawnee and other areas, lawmakers approved using $45 million from the state's constitutional reserve fund to help communities recover from the damage. Among other things, the money will help pay for repairs to local infrastructure damaged by the tornadoes and the overtime costs of first responders. A total of 24 people, including 10 children, died in the Moore tornado and two other people were killed in the Shawnee tornado.
-- Pension Changes: Lawmakers passed legislation to reduce the unfunded liability of Oklahoma's pension system for firefighters. The bill requires new firefighters to be at least 50 years old and have worked for 22 years, instead of the current 20 years, to be eligible for benefits. New firefighters also would not become vested until they had worked for 11 years, instead of the current 10 years. The bill also increases the amount that firefighters, municipalities and the state pay into the system each year.
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From the FOX 25 First Forecast Center..It's Friday and the weather is looking good for the holiday weekend. We can't rule out isolated to random showers and storms from time to time but nothing organized. ...
US durable goods orders rise 3.3 percent in April
WASHINGTON (AP) -- U.S. orders for long-lasting manufactured goods rebounded in April, buoyed by more demand for military and civilian aircraft and an increase in business investment.
BC-US--Dow Record-Three Personal Stories, 1st Ld-Writethru,1173
Dow Record: Three tales of ups, downs and changes
AP Photo FX102, FX103
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By SCOTT MAYEROWITZ
AP Business Writer
NEW YORK (AP) -- When the Dow first crossed 14,000, investors were overjoyed. ...
IN THE NEWS: RESTAURANT FLAP LEADS TO INTERNET MELTDOWN
SCOTTSDALE, Ariz. (AP) -- It isn't exactly to curry favor with your restaurant customers -- even if your specialty isn't curry.