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Feb 15 10:00
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U.S.
Stocks Notch Biggest Gains Since Start of Year as Oil Prices Decline
Retail Sales in U.S.
Jump 2.3 Percent in Biggest Increase Since May 2004
Treasuries Drop as Retail Sales Rise Twice as Fast as Consensus Forecast
Asbestos Fund Legislation Killed in U.S.
Senate on Test Vote Feb.
14 (Bloomberg) - A proposed $140 billion fund for
asbestos exposure victims was killed in the U.S.
Senate as it
failed to overcome an objection that the company-financed plan
would cost taxpayers billions of dollars.
Supporters fell one vote short of the required 60 votes to
waive a budget rule barring legislation that increases government
spending by $5 billion in any of four decades after 2016.
Senate
Majority Leader Bill Frist said before the roll call he would
shelve the legislation for the remainder of the year if the
procedural motion failed to get 60 votes.
Opponents, citing a Congressional Budget Office study,
warned that the fund might not take in enough revenue to cover
all claims, forcing it to borrow money.
The measure's chief
sponsor, Pennsylvania Republic...
Read more...