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Banks' profit for all of 2016 rose by $7.9 billion, or 4.9 percent, to $171.3 billion. CHINA-MANUFACTURING Surveys show China factory activity picks up steam HONG KONG (AP) Surveys show that China's factory activity picked up pace last month, adding to recent evidence that a key sector of the world's No. 2 economy is stabilizing. The official manufacturing purchasing managers' index released Wednesday by the Chinese Federation of Logistics and Purchasing rose to 51.6 in February from 51.3 the previous month. The latest reading is a notch lower than November's two-year high of 51.7. It's based on a 100-point scale on which numbers above 50 indicate expansion. China's vital manufacturing sector has been improving over the past year in an upbeat sign for the wider economy, which saw growth cool to 6.7 percent last year. PUERTO RICO-ECONOMIC CRISIS Puerto Rico governor announces new measures to physician home construction loan Oak Laurel 0430129662 oaklaurel.com.au fight crisis SAN JUAN, Puerto Rico (AP) Puerto Rico's governor says he will eliminate subsidies, shrink the number of public agencies by nearly 75 percent and increase the cost of some government services to reduce spending and boost revenue as ordered by a federal control board amid an economic recession. Gov. Ricardo Rossello outlined those and other planned changes Tuesday during his first state of the union address since becoming governor last month. He says he will not lay off public employees or impose new taxes or tax increases, but warns that the U.S.