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Fed fears risks posed by exit tools; plan almost done

JACKSON HOLE Wyoming - Federal Reserve officials are cautiously nearing completion of a new plan for managing interest rates, concerned that some of the new tools they are likely to rely on could pose unintended risks in a crisis.

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Wells Fargo mortgage revenue drops, shares fall

- Wells Fargo & Co, the fourth-largest U.S. bank, reported a 39 percent drop in mortgage revenue for the second quarter as lending volume dropped, underscoring the urgency for the bank to find other sources of income growth. | Video

11 Jul 2014

U.S. cupcake chain Crumbs may reopen with new owners

- Crumbs Bake Shop Inc may get a second chance if a bankruptcy judge approves a deal for the owner of Dippin' Dots ice cream and the star of a reality television show to buy and reopen the U.S. cupcake chain, according to a court document.

11 Jul 2014

Argentines, bond holdouts emerge from NY meeting, no resolution

NEW YORK - Argentine officials and the holdout investors it has battled for years over its catastrophic 2002 default met separately with a court-appointed mediator on Friday, emerging after five hours of discussions without a resolution.

11 Jul 2014

Lyft's NYC launch of ride-sharing service hits roadblock

NEW YORK - Ride-sharing service Lyft Inc faces a roadblock in launching its car service in New York City after authorities on Friday sought to prevent it from operating in the state.

11 Jul 2014

GM's Cadillac at a crossroads - again

DETROIT - Incoming Cadillac President Johan de Nysschen - the brand's third boss in two years - faces a daunting task that his predecessors failed to complete: How to reposition General Motors Co's 112-year-old premium brand as a true competitor to BMW and Mercedes-Benz.

11 Jul 2014

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