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Jan 22, 6:04 PM EST

Business Highlights


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Senate Dems relent, vote to end shutdown; House to follow

WASHINGTON (AP) - Congress is speeding toward reopening the government, as Senate Democrats dropped their objections to a temporary funding bill. That was in return for assurances from Republicans leaders that they will soon take up immigration and other contentious issues. The Senate voted 81-to-18 on Monday to break a Democratic filibuster and the send the measure to the House, where quick approval was expected.

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Netflix's success turns net neutrality into an afterthought

SAN FRANCISCO (AP) - Netflix once fought fiercely for net neutrality, fearing that its online video service would suffer if internet providers were free to discriminate against it. Now that it boasts one of TV's biggest audiences, Netflix no longer worries about the demise of net neutrality rules that once protected it. The company figures internet providers are unlikely to do anything that might alienate vast numbers of their own customers who also turn to Netflix for shows like "Stranger Things."

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Trump business ethics pledges left plenty room for profiting

NEW YORK (AP) - An Associated Press analysis of promises that Donald Trump made to separate from his businesses finds that, while he has kept to the letter of many, he has exploited vague language in others, creating at least the appearance that he's profiting off the presidency. In the past year, the Trump Organization has secured dozens of trademarks from foreign governments, pursued possible projects in Scotland and the Dominican Republic and enjoyed free publicity from Trump's many visits to his resorts.

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Trump hits solar panels, washing machines with tariffs

WASHINGTON (AP) - President Donald Trump is approving tariffs on imported solar-energy components and large washing machines in a bid to help U.S. manufacturers. The administration cast Monday's decisions as part of Trump's pledge to put American companies and jobs first. The administration is imposing an immediate tariff of 30 percent on most imported solar modules, with the rate declining before phasing out after four years.

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Get your stuff and go: Amazon opens store with no cashiers

SEATTLE (AP) - No cashiers, no registers - this is how Amazon sees the future of in-store shopping. The online retailer opened its Amazon Go concept store to the public Monday, selling milk, potato chips and other items typically found at a convenience shop. Amazon employees have been testing the store, which is at the bottom floor of the company's Seattle headquarters, for about a year.

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Media mogul Rupert Murdoch says Facebook should pay for news

NEW YORK (AP) - Media mogul Rupert Murdoch, whose companies own the Wall Street Journal, Fox News, the New York Post and other media properties, says Facebook should pay fees to "trusted" news producers for their content. Facebook said last week that it will boost news sources that its users rank as most trustworthy, while shrinking the percentage of news posts overall in users' news feeds. The news industry has struggled as print advertising erodes and Facebook and Google dominate online advertising.

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Trump to face mixed welcome at elite Davos gathering

DAVOS, Switzerland (AP) - The World Economic Forum in Davos, Switzerland, is meant to be a place for the world's elites to put their power to good use. They learn about what refugees experience, promote fair trade and empower minorities. Enter President Donald Trump. He will this week bring his brash, zero-sum approach to the global economy and politics. Some of the attending elite and local protesters wish he wasn't coming. Others are happy and want to establish dialogue.

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Carl Icahn makes push to remove Xerox CEO

NEW YORK (AP) - Billionaire Carl Icahn makes move to change Xerox board, remove CEO. Icahn has teamed up with fellow investor Darwin Deason to name four candidates to the board of the copier company.

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Bacardi lines up shot of Patron, buying all of tequila maker

NEW YORK (AP) - Bacardi Limited plans to swallow the rest of Patron Spirits in a deal that values the tequila maker at $5.1 billion. Bacardi has held a minority stake in Patron since 2008. The two private companies on Monday didn't disclose terms of the deal, which is expected to close in the first half of this year. Bacardi is known for its namesake rum, but it also owns several other liquor brands. Patron will join its tequila stable that also includes Cazadores and Corzo.

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Pharma deals, shutdown pact help stocks set more records

NEW YORK (AP) - US stocks set more records as technology companies rise. Energy companies are also climbing after solid results from Halliburton. Smaller-company stocks turn higher as the Senate reached a short-term deal to fund the government. Drugmakers Sanofi and Celgene and insurer AIG all announced major acquisitions.

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The Standard & Poor's 500 index picked up 22.67 points, or 0.8 percent, to 2,832.97. The Dow Jones industrial average rose 142.88 points, or 0.5 percent, to 26,214.60. The Nasdaq composite added 71.65 points, or 1 percent, to 7,408.03. The Russell 2000 index of smaller-company stocks gained 7.54 points, or 0.5 percent, to 1,605.17.

Benchmark U.S. crude rose 25 cents to $63.62 a barrel in New York. Brent crude, used to price international oils, added 42 cents to $69.03 a barrel in London. Wholesale gasoline gained 2 cents to $1.88 a gallon. Heating oil stayed at $2.06 a gallon. Natural gas climbed 4 cents to $3.22 per 1,000 cubic feet.

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