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BEYOND TAMPA BAY

Federal Reserve Chairman Ben Bernanke prodded Congress on Friday to enact legislation overhauling the nation's financial regulatory system to prevent a repeat of the banking and credit debacles that had thrust the U.S. into crisis. At the top of his list: Congress must set up a mechanism to safely wind down big financial firms whose failure could endanger the entire system. And the costs for such a mechanism should be paid through an assessment on the financial industry, Bernanke said, not by taxpayers.

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The "Smart Choices" food labeling programcreated by U.S. companies such as Kraft, Kellogg and General Mills is being voluntarily halted after regulators said it could be misleading to consumers. Smart Choices has been criticized by the Food and Drug Administration because its guidelines allow sugary cereals to bear the stamp.

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The American Booksellers Associationwants the government to look into the price war among online booksellers including Amazon.com, Walmart.com and Target.com that has resulted in hardcovers such as Sarah Palin's Going Rogue being offered for $9 or less, saying it "devalues the very concept of the book."

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In an effort to push consumers toward buying more movies, some major film studios are considering a new policy that would block DVDs from being offered for rental until several weeks after going on sale. Studios are grappling with sharply declining DVD revenue, which has long propped up the movie business.

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"Apple has some of the best attorneys on the planet. I'm not concerned about it."

Brian Marshal, industry analyst, after Nokia sued Apple, saying 10 of its wireless technology patents are being violated

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25

Percent increase in crude oil futures prices on the New York Mercantile Exchange in less than a month, despite a 69-cent dip to $80.50 on Friday

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THE BOTTOM LINE: Microsoft's quarterly net income falls 18 percent to $3.6 billion while revenue sinks 14 percent to $12.9 billion ... Activist investor Carl Icahn to resign from Yahoo's board of directors ... Fortune magazine to publish 18 issues a year, down from 25, starting in January

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GAS WATCH

The price of a gallon of regular unleaded gas in the Tampa Bay area:

FRIDAY

$2.619

THURSDAY

$2.591

MonTh ago

$2.399

YEAR ago

$2.826

RECORD

$4.009*

* Record set July 16, 2008

Source: AAA/Oil Price Information Service

To find the cheapest gas where you live, visit money.tampabay.com.

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