Debt That Once Boosted Its Cities Now Burdens China

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Rampant borrowing by firms like Wuhan Urban, a local-government concern that funds development in dusty Wuhan city, is a big reason China’s debt load is expanding.

Hard Choices on Easy Money Lie Ahead for Fed Chief

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Janet Yellen’s job is about to get harder after a relatively easy first year as Federal Reserve chairwoman, as she looks to move past the preset course of winding down a bond-buying program and begin raising interest rates.

Closing an Airport Security Gap

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A trio of recent incidents is fueling new scrutiny of U.S. airport security procedures that allow nearly a million workers nationwide access to airport facilities without routine screening.

American Airlines Lifted by Fuel Prices

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American Airlines, flush from buoyant full-year profits and looking ahead to even better performance in 2015, won’t alter its strategy as a result of sharply lower oil prices, its chief executive said.

Mitsubishi, Renault Scrap Car-Making Tie-Up

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Renault’s international expansion plans are encountering obstacles with a proposed joint-venture with Mitsubishi scrapped and its struggling business in Russia disclosing another round of layoffs.

Branch Cuts Make It Pain to Bank in Rural Spain

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Thousands of branch closures, aimed at cutting costs, have limited access to banking services in some parts of rural Spain.

Pfizer Sales Hit by Stronger Dollar

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Pfizer said a strong U.S. dollar and recent drug-patent losses contributed to a 52% drop in net income in the fourth quarter and would depress results this year. It also settled a securities lawsuit.

DuPont Warns of Currency Headwinds

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DuPont gave a disappointing outlook for 2015, warning its profit would take a significant hit from the strengthening dollar, though the company said it would reach its goal to cut $1 billion in costs well ahead of schedule.

Caterpillar Loses Traction Again

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Caterpillar gave a disappointing outlook for 2015, citing plummeting commodity prices, as the heavy-machinery maker also reported earnings for the fourth quarter that missed expectations.

Apple Delivers Quarter for the Ages

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Apple surpassed even the most bullish Wall Street expectations for its holiday quarter with an improbable trifecta: selling 46% more iPhones at higher prices—and earning more on each sale.

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