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US stocks fall sharply as earnings disappoint
NEW YORK (AP) -- Stocks fell sharply on Thursday as investors reacted to disappointing corporate earnings and outlooks from major U.S. companies including Exxon Mobil and Whole Foods Markets. The slide put major indexes into the red for July, leaving the market on track for its first monthly loss since January. Argentina's stock market plunged after the South American nation defaulted on its debt for the second time in 13 years....

NY Fed: Puerto Rico should seek economic reforms
SAN JUAN, Puerto Rico (AP) -- New York's Federal Reserve Bank released a report Thursday in which it warned that Puerto Rico needs to improve its financial health soon or face what it called a "painful adjustment."...

Eni profits rise due to renegotiated gas contracts
MILAN (AP) -- Italian oil and gas company Eni says its second quarter earnings more than doubled thanks to its successful renegotiation of long-term gas supply contracts....

Weak earnings sink US stocks; Whole Foods slides
NEW YORK (AP) -- U.S. stocks are sharply lower following weak corporate earnings. Exxon Mobil and Whole Foods slumped....

As US job market strengthens, many don't feel it
WASHINGTON (AP) -- The U.S. unemployment rate has plunged since the start of last year to a five-year low of 6.1 percent. And the July jobs report being released Friday will likely show a sixth straight month of healthy 200,000-plus gains....

Eurozone inflation down again but ECB seen on hold
BRUSSELS (AP) -- The inflation rate in the 18-nation eurozone dropped again in July, official data showed Thursday, in a worrying sign that adds pressure on the European Central Bank to beef up its efforts to spur the economy....

Exxon profit surges, but production slips
NEW YORK (AP) -- Exxon Mobil Corp. net income rose 28 percent in the second quarter on a sale of Asian assets and higher oil prices, but oil and gas production slipped 6 percent, disappointing analysts....

MasterCard 2Q profit rises on volume growth
PURCHASE, N.Y. (AP) -- MasterCard's second-quarter net income climbed 9.8 percent as it benefited from volume growth and handled more transactions in the period....

Russia tensions hurting European companies
BERLIN (AP) -- Russia's standoff with the West is hurting European companies, from heavy industry to sports goods makers, even before the latest sanctions have a chance to take effect....

Exxon 2Q profit climbs 28 percent
IRVING, Texas (AP) -- Exxon Mobil Corp. (XOM) on Thursday reported net income that climbed by 28 percent in its second quarter, and topped analysts' expectations....

AP Photo
AP Photo/Mark Lennihan
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