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- Dow drops on oil price surge
NEW YORK – Wall Street tumbled yesterday as oil prices rebounded, fanning concerns that inflation will further pinch consumers and lead central banks to raise interest rates. The Dow Jones industrial average fell more than 200 points to its lowest close since mid-March.
- BUSINESS BRIEFING
Navy strikes $100 million deal with NASSCO
The Navy has issued a $100 million contract to General Dynamics NASSCO, the San Diego shipyard, to purchase materials for the construction of a 12th T-AKE dry cargo-ammunition ship. NASSCO is under contract to construct 11 T-AKE ships at its shipyard.
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