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Stocks edge higher...Factory output dips...Horsemeat scandal grows

Friday - 2/15/2013, 11:20am  ET

NEW YORK (AP) -- Stocks are inching higher on Wall Street. The Dow was up about 25 points in the first hour of trading, nearing 14,000. The S&P and Nasdaq were seeing single digit gains. Investors are keeping an eye on a meeting of global finance ministers in Moscow, where currency policy is high on the agenda.

WASHINGTON (AP) -- The Federal Reserve reports U.S. factory production fell 0.4 percent in January after two solid months of gains. The weakness reflected a big drop in output at auto factories. However, with auto sales rising, analysts say that drop is likely to prove temporary.

MIAMI (AP) -- Burger King says it net income nearly doubled in the fourth-quarter of 2012. The hamburger chain says that's thanks to lower expenses and strengthening results in the U.S. and Canada.

LONDON (AP) -- Europe's horsemeat scandal is growing. British food safety officials say tests have found horsemeat in school meals, hospital food and restaurant dishes. The scandal erupted last month after Irish authorities found traces of horse DNA in frozen burgers. It's now grown to take in companies and countries across Europe.

DETROIT (AP) -- BMW is recalling more than 30,000 SUVs to fix an oil leak that can knock out power brakes. The German automaker says the recall covers X5 SUVs in the U.S. from the 2007 through 2010 model years. The company says the SUVs' brakes would still work if the power-assisted system fails, but the problem would increase stopping distances and could cause a crash.

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