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From Fnno.com, This is the financial news network. Here's what's in the news for Wednesday August 22, 2012. The Wall Street Journal reports the Obama White House played a central role in encouraging the Carlyle Group (NASDAQ:CG) to rescue a Philadelphia oil refinery, whose imminent closure by Sunoco (NYSE:SUN) threatened to send gasoline prices higher before the election, and in a likely battleground state. The Wall Street Journal also reports a federal grand jury is examining ties between Regions Financial (NYSE:RF) and an executive-recruiting firm that entertained bank executives on golf trips and borrowed from the Alabama lender. Reuters reports Japan's exports slumped 8.1% in July, the most in six months, as shipments to Europe and China fell, adding to concerns over global demand after a number of poor trade figures from Asia's export engines. Reuters also reports KKR (NYSE:KKR) is in early stage discussions to launch a debt fund to invest in India that could raise $750M to $1B, sources say. Finally, Bloomberg reports Verizon Wireless (NYSE:VZ) plans to sell a new Nokia (NYSE:NOK) phone with Microsoft's (NYSE:MSFT) Windows 8 software this year, the first time it has released a Windows device since May 2011. For more financial news and analysis follow us on Twitter @FNNOnline or check out our website at fnno.com.
|What's In The News: August 22, 2012|
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