U.S. Auto Sales Rose 9% in July

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U.S. auto demand roared ahead, up 9% over a year earlier, thanks to healthy summer sales incentives and strong demand for sport-utility vehicles that pushed the annualized selling pace above 16 million cars and light trucks for a fifth straight month.

VIA Train Hits Derailed Canadian National Train

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Canada's government-owned rail-passenger service, VIA Rail Canada, said one of its trains struck a derailed Canadian National Railway Co. train in eastern Ontario on Friday, disrupting service in the busy Toronto-Montreal rail corridor.

FCC Mulls Banning Joint Bids at Spectrum Auction

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The Federal Communications Commission has proposed banning wireless companies from teaming up to bid at next year's spectrum auction, a move that appears aimed at discouraging a Sprint bid for T-Mobile US.

Index Providers Mull Removing Russian Firms

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Index providers are considering stripping out some Russian companies, potentially undermining a key structural support for the country's markets.

Microsoft Says It Is Suing Samsung

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Microsoft Corp. said it has sued Samsung Electronics Co., claiming its rival violated a patent-licensing contract. The dispute involves technology included in Android, Google Inc.'s operating system for mobile phones and tablets.

Obama: Ex-Im Bank Fight Hurts U.S. Companies

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President Barack Obama called for Congress to reauthorize the U.S. Export-Import Bank, saying the political impasse is hurting U.S. companies as they compete against foreign firms.

Allergan Sues Over Valeant-Ackman Ties

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Allergan filed a lawsuit claiming Valeant Pharmaceuticals, investor William Ackman and his firm Pershing Square violated securities laws prohibiting insider trading, among other things, in the companies' takeover battle.

Berkshire Profit Rises

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Warren Buffett's Berkshire Hathaway posted a 10.5% increase in operating profit, helped by an increase at the conglomerate's non-insurance businesses.

No S'more Crises: Regulators Go to Camp

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To prepare for the next global financial crisis, nearly a dozen financial-sector overseers from across the world decamped to Yale University for the first-ever regulatory summer camp.

Espírito Santo International's Woes Trigger Creditor-Protection Filings

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The dramatic fall of troubled Portuguese conglomerate Espírito Santo International SA, which has hit hard the country's second-largest bank by assets, continued to create a cascade of creditor-protection filings by related entities.

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