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AP Top Business News at 12:03 p.m. EST

Tobacco giant to emerge from $49 billion deal
LONDON (AP) -- British American Tobacco will take over Reynolds American Inc. to create the world's largest publicly traded tobacco company that would seek to capitalize on growing demand for electronic cigarettes in the U.S. and traditional ones in developing countries....

May signals clean break with EU: UK out of single market
LONDON (AP) -- More than six months after Britain voted to leave the European Union, British Prime Minister Theresa May finally spelled out what it means: The U.K. will make a clean break from the EU and leave its single market of around 500 million people....

GM to add or keep 7,000 US jobs, make $1B factory investment
DETROIT (AP) -- General Motors plans to invest $1 billion in U.S. factories and add thousands of new white-collar jobs, measures that have been in the works for years but were announced Tuesday after criticism from President-elect Donald Trump....

China's Xi defends trade as Beijing seeks bolder global role
DAVOS, Switzerland (AP) -- Chinese President Xi Jinping on Tuesday trumpeted the need for free trade and urged the world to "say no to protectionism," delivering a strong rebuke to isolationist tendencies that helped fuel Donald Trump's presidential election victory....

New prescription: Doctor offices that look like Apple stores
SAN FRANCISCO (AP) -- After a relative suffered a heart attack a few years ago, Silicon Valley entrepreneur Adrian Aoun got an unsettling look at a health-care system that he diagnosed as an inefficient and outdated mess....

CBO: Premiums, uninsured up under 2016 GOP health law repeal
WASHINGTON (AP) -- Premiums and the number of uninsured would soar under a Republican bill Congress passed last year scuttling President Barack Obama's health care overhaul, lawmakers' nonpartisan budget analyst estimated Tuesday in a report underlining the GOP's risks in its fresh push to dismantle and replace the health law....

Israel's Netanyahu mired in series of corruption allegations
JERUSALEM (AP) -- Israel's Benjamin Netanyahu might be upbeat these days: The economy is growing, his opposition is weak and the incoming Trump administration seems friendly, even to the much-maligned Jewish settlements in the West Bank. Instead, the long-serving leader is mired in a series of eye-popping corruption investigations in a country that has already jailed a prime minister and president....

States can offer a lesson as GOP proposes deep cut taxes
LITTLE ROCK, Ark. (AP) -- President-elect Donald Trump and congressional Republicans who have pledged to cut federal taxes to boost the economy might consider looking first at lessons learned in GOP-controlled states that adopted similar strategies, only to see growth falter and budget gaps widen....

New York manufacturing grows in January for 3rd month
WASHINGTON (AP) -- Manufacturing in New York state expanded in January for the third straight month, as new orders and shipments grew....

US stock indexes dip, along with bond yields and dollar
NEW YORK (AP) -- Losses for financial and health care stocks pulled U.S. indexes modestly lower in Tuesday morning trading and put the Dow Jones industrial average at risk for its third straight loss....

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