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Business news in brief

Posted: July 13, 2013 at 3:24 a.m.

QUOTE OF THE DAY “All things being equal, [interest] rates going up is a good thing, as long as the economy keeps growing.” Jamie Dimon, chief executive officer, JPMorgan

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Business, Pages 28 on 07/13/2013

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S&P, Dow inch up to set records

Specialist Joseph Dreyer, center, and trader Sean Spain, right, work on the floor of the New York Stock Exchange Friday, July 12, 2013. The U.S. stock market rally that led to record highs on Thursday has stalled. Major indexes were little changed in morning trading Friday. (AP Photo/Richard Drew)

After spending most of Friday flat or down, stocks rallied at the last minute and closed slightly higher, just... Read »

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Cost-cutting, better loan quality boost Wells...

A customer uses an ATM outside a Wells Fargo branch in Charlotte, N.C., Tuesday, Jan. 17, 2012. WellsFargo & Co. reports their company earnings on Friday, July 12, 2013. (AP Photo/Chuck Burton)

Lower expenses and fewer bad loans helped lift Wells Fargo’s second-quarter profit by 20 percent, the company ... Read »