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Business

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    Family Dollar has rejected a takeover bid from dollar store competitor Dollar General, saying it would be too hard for the deal to pass antitrust regulators.
  • Mortgage aid with a snare
    WASHINGTON – The $17 billion settlement that Bank of America reached with the Department of Justice on Thursday sets aside billions in aid for some troubled homeowners.
  • Housing figures gain momentum
    WASHINGTON – A fourth consecutive monthly increase in sales of existing homes provided the latest evidence Thursday that the U.S. housing market is rebounding from a weak start to the year.
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Futures jump sharply higher on budget deal

NEW YORK (AP) — Stock futures are moving sharply higher after a Congress ended a budget stalemate and averted the so-called fiscal cliff.

Dow Jones industrial futures are up 178 points to 13,205. The broader S&P futures have added 22.7 points to 1,442.80. Nasdaq futures are up 44.25 points to 2,699.50.

The deal, reached just before midnight, leaves a host of issues unresolved and it remained unclear Wednesday how long markets would be buoyed by the agreement. Next up is what could turn into a vicious fight over the debt ceiling, or how much the government is allowed to borrow. Obama said he will not negotiate the issue.

Also on Wednesday, Avis said it will buy Zipcar for about $491 million, expanding its offerings from traditional car rentals to car sharing services.

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