Archive for the ‘Business’ Category
Alcoa to slash jobs and sell 4 units (Reuters)
Wednesday, January 7, 2009 3:14 No CommentsReuters - Alcoa Inc said on Tuesday it would slash more than 15,000 jobs, halve capital spending and sell four businesses as it reduces aluminum production in the face of the global economic downturn.
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U.S. budget deficit seen topping $1 trillion in 2009 (Reuters)
Wednesday, January 7, 2009 3:14 No CommentsReuters - Politicians want American consumers to resume spending to pull the economy out of its tailspin, and the U.S. government is leading by example with a potential $1 trillion deficit in 2009 — even before a massive stimulus plan.
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Bank of America selling $2.8 billion (Reuters)
Wednesday, January 7, 2009 3:14 No CommentsReuters - Top U.S. lender Bank of America , raising cash to weather a dismal market at home, is selling a $2.83 billion chunk of its holding in China Construction Bank (0939.HK) at a 12 percent discount on Wednesday, according to a term sheet obtained by Reuters.
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Stocks rise on stimulus plan hopes (Reuters)
Wednesday, January 7, 2009 3:14 No CommentsReuters - Stocks gained on Tuesday on the increased likelihood of a government stimulus package after the release of minutes from the last Federal Reserve policy meeting painted a dismal picture of the U.S. economy.
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Fed and other agencies to join U.S. fraud task force (Reuters)
Wednesday, January 7, 2009 3:14 No CommentsReuters - The U.S. government is beefing up a task force to fight mortgage crimes and safeguard federal financial bailouts, the U.S. Justice Department said on Tuesday.
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FTSE-100 up 59.28 points at 4,638.92 (AP)
Wednesday, January 7, 2009 3:14 No CommentsAP - Share prices on the London Stock Exchange closed up Tuesday.
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Leading Democrat offers mortgage aid bill (Reuters)
Wednesday, January 7, 2009 3:14 No CommentsReuters - The second-ranking Democrat of the U.S. Senate on Tuesday introduced legislation that would let bankruptcy judges erase some mortgage debt in an effort to stem foreclosures.
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Prosecutors want Madoff jailed
Wednesday, January 7, 2009 3:14 No CommentsU.S. prosecutors sought to revoke bail and put accussed Wall Street swindler Bernard Madoff in jail after he allegedly mailed $1 million in items. A magistrate judge is expected to rule on the motion later this week. Some lawyers say the prosecution hopes the threat of jail will convince Madoff to cooperate with their investigation [...]
Business Update: Stimulus hopes rise
Wednesday, January 7, 2009 3:14 No CommentsWall Street hopes for an economic stimulus package out of Washington rose on Tuesday as a new Congress gets to work. The Dow jumped 62 points to 9,015. The S&P 500 gained 7 points to 934. The Nasdaq climbed 24 points to 1,652. Conway Gittens reports from New York.
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Jan. 6: Stocks finish higher on Fed minutes
Wednesday, January 7, 2009 3:14 No CommentsWall Street brushed off more bad economic news Tuesday and finished with a rally that left the Standard and Poor’s 500 index at its highest level in two months. (Jan. 6)
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Oil Prices Rise Above $50, Then Fall
Wednesday, January 7, 2009 3:14 No Comments01/06/09 Continued unrest in the Middle East once again led to a boost in crude prices earlier in the day, but the release of further poor US economic managed to halt the crude rally and sent oil prices back down at the end of the day.
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Korea’s "Green" Attempt to Create 100,000 New Jobs
Wednesday, January 7, 2009 3:14 No Comments01/06/09 Korean Prime Minister Han Seung-soo officially introduced the nation’s Green New Deal Job Creation Plan today which hopes to eventually create some 100,000 new jobs and boost a slumping economy.
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Billionaire Merckle suicide
Wednesday, January 7, 2009 3:14 No CommentsOfficials say German entrepreneur Adolf Merckle left a goodbye note to his family before he was hit by a train Relatives of the 74-year-old say the global financial turmoil and battle to salvage his own business empire had taken their toll on him over the past few weeks.
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Your Money: Low-cost flights have returned
Wednesday, January 7, 2009 3:14 No CommentsA wave of fare sales has spread across the airline industry as the weak economy continues to put pressure on carriers to fill seats. AP Personal Finance Editor Trevor Delaney explains. (Jan. 6)
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Markets Volatile as Oil prices Fluctuate
Wednesday, January 7, 2009 3:14 No Comments01/06/09 US markets are volatile, with the DOW dipping into negative territory before rebounding slightly, as oil prices fall from $50 to $48 in morning trading.
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