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Business

  • Barra shares plan to renew GM
    MILFORD, Mich. – General Motors CEO Mary Barra told investors Wednesday that GM plans a raft of new models and a big push to sell more cars in China to drive profits in coming years, as the biggest U.S.
  • General Mills to cut workforce
    General Mills plans to cut about 700 to 800 jobs, the second time it has trimmed its workforce in a month as the food company adjusts to a shift by U.S. consumers away from boxed and frozen meals.
  • Stocks skid on Ebola, Europe reports
    NEW YORK – It was a rough start to October for financial markets.Disappointing economic news in the U.S. and abroad drove down stocks Wednesday.
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US economy grew at 3.2 percent rate in Q4

WASHINGTON (AP) — The U.S. economy grew at a 3.2 percent annual rate in the October-December quarter on the strength of the strongest consumer spending in three years, an encouraging sign for 2014.

The fourth-quarter increase followed a 4.1 percent growth rate in the July-September quarter, when the economy was boosted by a buildup in business stockpiles.

The Commerce Department says that for 2013 as a whole, the economy grew a tepid 1.9 percent, below the 2.8 percent increase in 2012. Growth was held back last year by higher federal taxes and government spending cuts.

With that drag removed, many economists think growth could top 3 percent in 2014, which would be the best performance since the recession ended in mid-2009.

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