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Stocks start weak ... Unemployment rose in many states ... A new news network

Monday - 8/19/2013, 12:00pm  ET

NEW YORK (AP) -- Stocks are edging higher on Wall Street, after opening lower. Saks delivered the latest bad news from the struggling retail sector, with a wider loss on higher expenses and charges. Several other retailers are set to report results this week. The Dow is coming off its worst week of the year.

LONDON (AP) -- With economic data thin today, financial markets have started the week on a subdued note. But the focus of attention remains on whether the Federal Reserve will start to reduce its monetary stimulus next month, and investors will have a raft of key events to digest toward the second half of the week. Housing data, the minutes to the last policy meeting of the Fed and the start of the annual meeting of global central bankers and policymakers in Jackson Hole, Wyo., are on tap this week.

WASHINGTON (AP) -- Unemployment rates rose in more than half of U.S. states in July and fewer states added jobs, echoing national data that show the job market may have lost some momentum. The Labor Department says unemployment rates increased in 28 states. They were unchanged in 14 and fell in eight states -- the fewest to show a decline since January.

DETROIT (AP) -- It's deadline day for creditors opposing Detroit's request for bankruptcy protection. Creditors include bond holders, insurers, banks, the city's two employee pension systems, individuals and companies. The city has until Sept. 6 to file its responses to the objections. A multiday hearing on the eligibility question is to start Oct. 23.

NEW YORK (AP) -- Al-Jazeera America begins broadcasting tomorrow. The new U.S. affiliate, which bought Al Gore's former Current TV, gives the Qatar (GUH'-tur)-based news organization a firm foothold on American television after a decade of trying. The network has hired many veterans of U.S. television and is promising a meaty diet of news that it believes will contrast with the opinionated talk that dominates American news networks.


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