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Firefighters have contained vast fires in both countries, but winds are high and temperatures rising. Spain's prime minister said the next 12 hours would be "decisive."
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The rate-setting Federal Open Market Committee left rates unchanged at the range of 3.5% to 3.75%.
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The Japan Meteorological Agency said the earthquake, with a preliminary magnitude of 7.1 and a depth of just over 6 miles, was at the highest end of the seismic intensity scale. NBC News' Raf Sanchez reports on the initial damage caused by the earthquake.
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