Business Highlights

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Amazon increasingly wants to be its own deliveryman

NEW YORK (AP) " Amazon increasingly looks like it wants to be its own deliveryman. Its announcement of a new air cargo hub in Kentucky is merely its latest foray into building out its shipping and logistics unit. If successful, the move ultimately means lower costs for Amazon " but could eventually pit the company against package deliverers like FedEx and UPS. Amazon said Thursday the number of items it sold in the fourth quarter rose 24 percent compared with a year ago. Its revenue rose 22 percent to $43.74 billion, slightly missing analyst expectations.

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Stocks end little changed as investors digest earnings

NEW YORK (AP) " Stocks ended Thursday's trading mostly unchanged, as cautious investors focus a large batch of earnings reports from U.S. companies, including Facebook and Merck.

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Uber CEO quits Trump business council amid boycott calls

WASHINGTON (AP) " Uber CEO Travis Kalanick has quit President Donald Trump's council of business leaders, according to an internal memo obtained by The Associated Press.

Kalanick wrote to his employees that he'd spoken with Trump on Thursday to "let him know that I would not be able to participate on his economic council. Joining the group was not meant to be an endorsement of the president or his agenda but unfortunately it has been misinterpreted to be exactly that."

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Chipotle's profit down sharply as it works on recovery

NEW YORK (AP) " Chipotle reported a sharply lower quarterly profit from a year ago as it spends on promotional efforts to recover from a series of food scares. Sales still haven't bounced back, and were down 4.8 percent at established locations from a year ago.

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Snap, owner of messaging app teens love, files for IPO

NEW YORK (AP) " Snap Inc., owner of the popular disappearing-messages service Snapchat, seeks to raise up to $3 billion in an initial public offering.

That number may change based on investor demand. Facebook raised $16 billion when it went public in 2012.

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Yemenis close NYC shops in protest of Trump travel ban

NEW YORK (AP) " Many Yemeni business owners have shut down their delis, grocery stores and bodegas around New York City in protest of President Donald Trump's travel ban. The protesters Thursday include Manhattan deli owner Haron Zokari. He says his wife and baby are stuck in Yemen after almost completing a four-year, green-card process.

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Deutsche Bank reports another year loss, CEO cites progress

FRANKFURT, Germany (AP) " Deutsche Bank's CEO sought to convince skeptical investors that Germany's largest lender was making progress after a turbulent year even as it posted another hefty loss in 2016. Following a year, in which the bank's shares have been buffeted by market speculation and its earnings lowered by large fines, John Cryan said Thursday that 2016 had been "anything but easy."

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First CEO at R. Lauren not named Ralph Lauren is unsaddled

NEW YORK (AP) " Stefan Larsson, who took over as CEO for Ralph Lauren less than two years ago in hopes of revitalizing the iconic brand, is leaving the company. Lauren, who said at the time that Larsson "understands what dreams are," says he and Larson had different views on how the business.

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Average US 30-year mortgage rate unchanged at 4.19 percent

WASHINGTON (AP) " Long-term US mortgage rates barely budged this week, after marking their first increase of the year last week. Mortgage buyer Freddie Mac says the rate on 30-year fixed-rate loans was unchanged from last week at an average 4.19 percent. That was still sharply higher than a 30-year rate that averaged 3.65 percent for all of 2016, the lowest level recorded from records going back to 1971. The average for a 15-year mortgage ticked up to 3.41 percent from 3.40 percent last week.

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Mexico exports no longer just avocados, tequila

MEXICO CITY (AP) " If the United States imposes a border tax on Mexican imports, it's not just tequila, beer and avocados that would jump in price. Open markets have turned the country into an export powerhouse that sells cars, trucks and flat-screen TVs as well as berries, beef and asparagus.

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The Dow Jones industrial average lost 6.03 points, or less than 0.1 percent, to 19,884.91. The Standard & Poor's 500 index rose 1.30 points, or 0.1 percent, to 2,280.85 and the Nasdaq composite fell 6.45 points, or 0.1 percent, to 5,636.20.

Benchmark U.S. crude fell 34 cents to close at $53.54 a barrel on the New York Mercantile Exchange.. Heating oil lost 2 cents to $1.65 a gallon and wholesale gasoline fell 5 cents to $1.53 a gallon. Natural gas rose 2 cents to $3.19 per thousand cubic feet.

This story has been automatically published from the Associated Press wire which uses US spellings

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