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Freedom Industries Inc., facing at least 31 lawsuits and additional state and federal investigations after the Jan. 9 spill, filed a Chapter 11 petition with the U.S. Bankruptcy Court in the Southern District of West Virginia.

Company president Gary Southern signed the paperwork, which lists the company’s assets and liabilities as a range - both between $1 million and $10 million. It says the company has at least 200 creditors and owes its top 20 creditors $3.66 million.

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FDA OKs mental disability blood test for infants

WASHINGTON (AP) - The Food and Drug Administration on Friday cleared a first-of-a-kind blood test that can help diagnose mental disabilities in babies by analyzing their genetic code.

The laboratory test from Affymetrix detects variations in patients’ chromosomes that are linked to Down syndrome, DiGeorge syndrome and other developmental disorders. About 2 to 3 percent of U.S. children have some sort of intellectual disability, according to the National Institutes of Health.

The test, known as the CytoScan Dx Assay, is designed to help doctors diagnose children’s disabilities earlier and get them appropriate care and support. It is not intended for prenatal screening or for predicting other genetically acquired diseases and conditions, such as cancer.

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GE rides oil and gas, aircraft to higher 4Q profit

NEW YORK (AP) - General Electric Co. posted increased revenue and profit for the fourth quarter on rising sales in emerging markets, higher banking profit, and stronger global sales of aircraft engines and oil and gas drilling equipment.

The company’s shares fell 2.3 percent Friday, though, because GE failed to increase its profit margin as much as it had predicted.

The company’s profit for all of 2013 rose, though revenue fell slightly, as GE continues its transformation from a sprawling conglomerate to a more focused industrial company that builds and services complex equipment such as CT-scanners, locomotives and gas-fired turbines.

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Morgan Stanley books $1.2 billion legal expense

NEW YORK (AP) - Morgan Stanley says its earnings fell in the fourth quarter as the bank was hit by legal costs related to mortgage-backed securities.

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