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Business Highlights

But consumer advocates complain about lax standards for the program, with logos appearing on everything from frozen sweets to sugary cereals.

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Calif. sues bank, alleges more than $200M in fraud

SAN FRANCISCO (AP) ¿ California Attorney General Jerry Brown accused State Street Bank and Trust Co. of "unconscionable fraud" on Tuesday, claiming in a lawsuit the firm had bilked the state's largest pension funds of more than $200 million.

The suit alleges Boston-based State Street overcharged the California Public Employees Retirement System and the California State Teachers' Retirement System with fees and penalties for handling foreign currency trades. The bank denied the claims.+

Brown launched an independent investigation into the bank after a group of whistleblowers called Associates Against FX Insider Trading raised the claims in a 2008 lawsuit.

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Kerkorian may cut 'undervalued' MGM Mirage stake

LAS VEGAS (AP) ¿ Saying his 37 percent stake in MGM Mirage should be worth more, billionaire investor Kirk Kerkorian said Tuesday that he may cut his investment in the struggling casino operator.

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