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Banco Santander SA, Spain’s biggest bank, agreed to buy GE Money Bank AB, the consumer finance business of GE Capital in Sweden, Denmark and Norway, for about 700 million euros ($953 million). more
Single-family home prices in the Providence-Warwick metro area increased 3.2 percent year over year in May, according to the CoreLogic Home Price Index report released Tuesday. more
The trade deficit in the U.S. narrowed more than forecast in May on record exports, signaling a pickup in global growth that will boost American manufacturers. more
Raytheon Co., the world’s largest missile maker, said second-quarter sales fell 6.8 percent as all four of its divisions reported declines. more
The Dow Jones Industrial Average climbed above 17,000 for the first time as data showed employers added more workers than projected in June and the European Central Bank disclosed details of its stimulus plans. more
Microsoft Corp. said it will eliminate as many as 18,000 jobs, the largest round of cuts in its history, as Chief Executive Officer Satya Nadella integrates Nokia Oyj’s handset unit and slims down the software maker. more
Confidence among U.S. homebuilders rose more than forecast in July, reaching the highest level in six months, as growing payrolls brightened the outlook after a shaky first half. more
Tao Sun, who led Providence Equity Partners Inc.’s investing team in China, has left the private- equity firm after three years, according to a person familiar with the move. more
Industrial production climbed 0.2 percent in June, capping the strongest quarter in almost four years and indicating manufacturers are providing a bigger spark for the U.S. economy. more
Royal Bank of Scotland Group PLC CEO Ross McEwan said the foreign-exchange market scandal could be more expensive to the banking industry than Libor or improperly sold loan insurance. more
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