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Stocks rebound from Fed-sparked losses

US stocks rebounded on Thursday from the previous Federal Reserve-sparked losses, as markets turned to favorable US economic data for inspiration. The Dow Jones Industrial Average finished up 108.88 points (0.67 percent) at 16,331.05. The broad-based S&P 500 advanced 11.24 (0.60 percent) to 1,872.01, while the tech-rich Nasdaq Composite Index rose 11.68 (0.27 percent) to 4,319.29.

US consumer confidence index dips in February on concerns over business conditions, jobs

WASHINGTON - U.S. consumer confidence fell slightly in February over concerns about the near-term outlook for business conditions and jobs. The Conference Board says that its confidence index dipped to 78.1 in February, down from 79.4 in January. Conference Board economist Lynn Franco says the index still suggests consumers believe the economy has improved although they do not expect it to gain significant momentum in coming months.

NY manufacturing growth slows in February: NY Fed

NEW YORK (Reuters) - A gauge of manufacturing in New York state slowed in February after hitting a 20-month high in January, the New York Federal Reserve said in a report on Tuesday. The New York Fed's "Empire State" general business conditions index fell to 4.48 from 12.51 the month before. Economists polled by Reuters had expected a reading of 9.0. New orders fell to -0.21 from 10.98, while inventories fell to -5.00 from 2.44.

Google defeats authors in U.S. book-scanning lawsuit

By Jonathan Stempel NEW YORK (Reuters) - Google Inc on Thursday won dismissal of a long-running lawsuit by authors who accused the Internet search company of digitally copying millions of books for an online library without permission. U.S. Circuit Judge Denny Chin in Manhattan accepted Google's argument that its scanning of more than 20 million books, and making "snippets" of text available online, constituted "fair use" under U.S. copyright law.

U.S. consumer confidence falls sharply in October

NEW YORK (Reuters) - U.S. consumer confidence fell sharply in October as consumers turned gloomier in their outlook for the future, according to a private sector report released on Tuesday. The Conference Board, an industry group, said its index of consumer attitudes dropped to 71.2 in October from a revised 80.2 in September, previously reported as 79.7. Economists had expected a reading of 75.0 in October. The expectations index also sank, down to 71.5 in October from a revised 84.7 in September.

New York factory growth slows in October to weakest since May: NY Fed

NEW YORK (Reuters) - The pace of growth in New York state's manufacturing sector slipped this month to its slowest since May, but business optimism stayed strong, a report from the New York Federal Reserve showed on Tuesday. The New York Fed's "Empire State" general business conditions index fell to 1.52 from 6.29 in September. Economists in a Reuters poll had forecast an index of 7.00. The New York Fed said the results suggested "that conditions were little changed over the month." A reading above zero indicates expansion.

Inventor of Dolby Sound System dies

Los Angeles, Sep 13 (EFE).- Ray Dolby, creator of the noise-reduction system that revolutionized audio and film sound, has died. He was 80. The engineer, who suffered from Alzheimer's and leukemia, passed away at his home in San Francisco, the firm he founded, Dolby Laboratories Inc., said in a statement. Throughout his career, Ray Dolby obtained more than 50 patents and invented a technology for reducing noise that improved the quality of recordings in all formats, from cassette tapes to Hollywood movies.

Google offers new concessions to avoid fine in EU antitrust case

BRUSSELS (Reuters) - Google has offered further concessions aimed at ending a three-year investigation into complaints it was blocking competitors and to avert a possible $5 billion fine, the European Commission said on Monday. The new proposal comes two months after the Commission, which is the European Union's antitrust regulator, asked the world's most popular search engine for more measures to sooth concerns that it was blocking competitors, including Microsoft, in web search results.

New York manufacturing conditions improving

Manufacturing activity conditions in the New York region continued to improve in the past month, the Federal Reserve's survey index showed Thursday, though orders and shipments were virtually flat. The New York Fed's Empire State Manufacturing Survey business conditions index for August stood at a positive 8.24, slightly lower than July's 9.46. The survey "indicates that conditions for New York manufacturers improved modestly for a third consecutive month," the Fed said. (A zero on the diffusion index reading would mean conditions were unchanged.)

Consumer confidence slips in July as outlook dims

NEW YORK (Reuters) - U.S. consumer confidence pulled back in July as consumers were less optimistic about the outlook for the economy and labor market, according to a private sector report released on Tuesday. The Conference Board, an industry group, said its index of consumer attitudes slipped to 80.3 from an upwardly revised 82.1 in June. The report was shy of economists' expectations for the index to hold steady at June's original reading of 81.4.
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