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Mighty Taco will open on Chippewa Street

The Chippewa Strip will soon be home to one of Buffalo's most familiar brands.

Mighty Taco is slated to open on Chippewa Street at the corner of Pearl Street in the Calumet building. The fast-food restaurant will lease a portion of the first floor, next to Bacchus Wine Bar and Restaurant, filling the space that was most recently home to La Luna nightclub.

The downtown Buffalo location comes as a response to popular demand, according to Russell Jasulevich, Mighty Taco's chief operating officer.

"We've been hearing about it for years," he said. "It's nice to be wanted."

The restaurant will cater to late-night revelers with extended hours on weekends and to the downtown lunchtime crowds.

A spring opening is planned for the store, which will have about 24 employees. It will be Mighty Taco's 20th location.

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Morgan Stanley cuts will hit home

NEW YORK (AP) -- Of the 1,600 job cuts announced earlier this month by Morgan Stanley, 580 will be at its home base in New York.

The relentless tug of the dismal economy is hitting employees in the banking sector hard, and it's no surprise that many of the job cuts are hitting the epicenter of the financial industry. Citigroup, with its headquarters a seven-minute drive up Park Avenue from Morgan Stanley in Manhattan, said recently that it would eliminate 4,500 jobs, or about 1.5 percent of its global work force of 267,000, over the next few quarters.

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Hawker Beechcraft suing the government

WICHITA, Kan. (AP) -- Hawker Beechcraft Corp. is suing the U.S. government over its exclusion from a competition to build a light attack aircraft, a contract worth nearly $1 billion.

The Wichita Eagle reported that the suit was filed Tuesday with the U.S. Court of Federal Claims after the Government Accountability Office dismissed Hawker Beechcraft's initial protest. The suit alleges the exclusion was "arbitrary and capricious" and seeks to prevent the government from awarding a contract until Beechcraft can make its case in court.

A Pentagon spokesman declined to comment on the issue because the matter was "pending under litigation."

The Wichita-based aircraft manufacturer had hoped its AT-6, an armed version of its T-6 trainer, would be chosen for the Light Air Support Counter Insurgency aircraft for the Afghanistan National Army Corps. The chosen aircraft also would be used as a light attack armed reconnaissance aircraft for the U.S. Air Force.

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Italy's short-term debt is in strong demand

ROME (AP) -- Strong demand for short-term Italian government debt Wednesday pushed the country's borrowing costs lower and suggested investors have become less jittery about an imminent default by the eurozone's third-largest economy.

Italy raised $14 billion in a pair of auctions at sharply lower rates than those it was forced to pay just a month ago when investor concerns over the ability of the country to service its massive debts became particularly acute and effectively prompted a change in government.

The sharp decline in Italy's borrowing costs could be a signal that commercial banks from the 17 countries that use the euro diverted some of the money they tapped from emergency loans from the European Central Bank last week to buy the bonds of heavily indebted governments. It may also suggest rising investor confidence in Italy's recent efforts to reduce its long-term debt through a variety of austerity measures.

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