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Upscale fashion retailer Barney’s said it is closing its flagship store in downtown Manhattan where its founder began selling men’s suits at a discount 75 years ago. The retailer, which operates a store in Beverly Hills, also said it is shutting its branches in Dallas and Houston and in Troy, Mich., as cost-cutting measures. . . . General Motors Corp. averted a threatened strike and potential shutdown of its North American production by reaching tentative agreement on a new labor contract with United Auto Workers members at a parts plant in Oak Creek, Wis. . . . Lockheed Martin Corp. said it ordered 101 rocket engines to be built in Russia for use on its new Atlas rocket, in a deal valued at more than $1 billion. . . . Microsoft Corp., the world’s largest software maker, said it will invest $82 million to set up a research center in Cambridge, England. . . . The House Banking Committee voted 35 to 19 to adopt a sweeping measure that would allow banks to invest in commercial companies. . . . R.J. Reynolds Tobacco Co. filed suit in federal court in North Carolina to force the Federal Trade Commission to withdraw its complaint against the company’s Joe Camel advertising campaign.
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