World Jul 17

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News Wrap: Obama warns Putin of further sanctions

In our news wrap Thursday, President Obama advised Russian President Vladimir Putin to avoid further sanctions, a day after new measures to punish Moscow’s support of Ukrainian rebels. Putin said the sanctions will push U.S.-Russia relations to a “dead end,”…

The U.S. economy sank at a pace of just 1 percent in the second quarter of the year, the Commerce Department reported Friday, in a better-than-expected showing that the recession could be winding down.

Embattled automaker Chrysler wants to shutter about 25 percent of its 3,200 U.S. dealerships by next month, stating in a bankruptcy court filing Thursday that the network is antiquated and has too many stores competing with each other.

The pace of layoffs slowed in April as employers cut 539,000 jobs, the fewest in six months, according to a Labor Department report released Friday. But the unemployment rate climbed to 8.9 percent, the highest since late 1983.

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