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Peoria Business News
  • State OKs McDonough County hog farm

    BLANDINSVILLE A controversial large-scale hog farm planned for the northwest corner of McDonough County has received approval from the Illinois Department of Agriculture. According to Illinois Department…
  • Greater Peoria region a top U.S. export market

    PEORIA You can add something new to those road signs: "Welcome to Peoria: Export Capital of the USA." The greater Peoria region exported more merchandise per capita…
  • Small changes made in Bass Pro lease

    EAST PEORIA The City Council bolted through a summerweight agenda Tuesday night that included approval of small changes in the lease agreement with Bass Pro Outdoor…
  • Oil headed for biggest monthly drop since 2008

    NEW YORK The price of oil is headed for its biggest monthly decline since December 2008. Oil has dropped more than 16 percent so far in May,…
  • Union workers in Joliet reject Caterpillar offer

    JOLIET, Ill. Union workers at Joliet’s Caterpillar Inc. plant have again rejected a contract proposal from the company. The 780 workers from the International Association of Machinists…
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NEW YORK (TheStreet) -- Stocks were beaten down Wednesday with all three major U.S. equity indices finishing near session lows as worries about Europe's deteriorating debt situation continued to sap investor appetite for risk.

Borrowing costs rose in Spain and Italy as eurozone leaders struggled to settle on a course of action, while a new survey found popular opinion in Greece favors a softening of the austerity measures that the country's current bailout plan is contingent upon. The European Union floated a proposal for a unified banking system for the eurozone earlier in the day, but that did little to stabilize the situation as the euro was pushed back down near a two-year low vs. the dollar.

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