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    CNN Money: Top business headlines for Sept. 23

    5:35 AM, Sep 23, 2013   |    comments
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    NEW YORK (CNN) -- CNN Money's Maribel Aber has your top business and financial news on this Monday, September 23.

    Shutdown and default: What are the odds?
    The uncertainty created by the budget standoff on Capitol Hill is turning everyone into an oddsmaker. Will the government shut down? Will the Treasury Department be forced to default on some of the government's legal obligations?  CNNMoney compiled the most recent odds given by four seasoned political observers. As a group they agree a shutdown is more likely than a default, but they are by no means unified as to the chances for either. Chance of a shutdown: Less than 50% but rising; chance of a default: 10%, up from 5% a few days ago.

    FCC approves AT&T's $780m purchase of Alltel assets
    The Federal Communications Commission has approved AT&T's $780 million purchase of the Alltel assets operated by Allied Wireless Communications Corp. of Little Rock, a subsidiary Atlantic Tele-Network Inc. of Beverly, Mass. AT&T announced the FCC's approval in a news release Friday. The deal was originally announced in January. "AT&T will immediately begin upgrading the former Alltel network and plans to move customers to the AT&T network by midyear 2014," the company said in a news release.

    Great news at the gas pump
    The latest Lundberg Survey of 25-hundred gas stations in the U-S shows that prices have dropped more than six cents for a gallon of regular in the past two weeks. The average is now $3.52, more than 31 cents lower than a year ago. But in the West, especially California, the price of a gallon of regular was up 16 cents in the past two weeks. But Trilby Lunderg tells CNN that prices are already on the way down again in the wEST. She says the nationwide average may drop another five or six cents a gallon in coming weeks.

    Iron Man toy soars 200 feet
    As the search for this year's "must-have" holiday toys heats up, a remote-controlled flying Iron Man is almost guaranteed to make the list.  Remote-control toys are typically hot holiday sellers because of the "'wow' factor attached to them," said toy industry expert Chris Byrne. "They do cost more, but consumers are willing to spend more on these toys as gifts." The Iron Man Extreme Hero, which costs $70, clocks in at 19 inches and weighs just two ounces -- which lets it fly as high as 200 feet, according to Wilson.

     

     

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