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Will the Bailout plan work?
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Business News News Archive - Political Yard
EBay to cut 10 percent of jobs
Posted on Oct 06, 2008 - 8:39 am
Reuters - EBay Inc plans to cut its work force 10 percent and sees third-quarter revenue hitting the low end of its forecast, though profit will exceed expectations, the online auction Web site said on Monday.
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Euro, stocks tumble as crisis intensifies
Posted on Oct 05, 2008 - 9:37 pm - Reuters
Reuters - Asian stocks fell 2-3 percent on Monday, led by shares of exporters, after a hectic weekend in Europe as the financial crisis gathered steam there, knocking the euro to the lowest in a year.
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Ex-CEO of S&L bought by Wachovia defends record
Posted on Oct 05, 2008 - 7:36 pm - AP
AP - Once hailed for running their savings-and-loan company like an endearing mom-and-pop shop, Herb and Marion Sandler are now being vilified as ruthless home lenders who helped destroy Wachovia Corp. and contributed to the financial decay that led to the U.S. government's $700 billion rescue plan to buy rotten mortgages.
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Europe stocks, dollar lifted by Senate vote
Posted on Oct 02, 2008 - 6:11 am - Reuters
Reuters - The U.S. Senate's approval of a revised crisis bailout bill helped boost European stocks and lift the dollar on Thursday but economic worries weighed on Asia and concern about final passage of the proposal lingered.
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European, Asian markets improve on US bailout hope
Posted on Oct 01, 2008 - 1:06 pm - AP
AP - Europe's were mixed on Wednesday and most Asian markets bounced back as investors hoped that a US$700 billion bailout for the U.S. financial system would soon win legislative approval.
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European banks rescued as U.S. bailout vote nears
Posted on Sep 29, 2008 - 4:50 am - Reuters
Reuters - U.S. lawmakers prepared to vote on Monday on a $700 billion fund to buy toxic debt as the global financial crisis produced Europe's biggest bank rescue to date.
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European stocks drop on US bank bailout concerns
Posted on Sep 26, 2008 - 12:33 pm - AFP
AFP - Europe's leading stock markets sank Friday in early trade, hit by growing doubts about the progress of a 700-billion-dollar bailout package for the US financial sector.
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Economy - Tuesday
Posted on Sep 24, 2008 - 7:18 am - Investor's Business Daily
Investor's Business Daily - Sales should grow 2.2% in Nov. and Dec., the slowest pace in 6 years and well below the 10-year average of 4.4%, the Nat'l Retail Federation forecast. It expects shoppers to curb spending due to worries about jobs, food and fuel prices, and the weak housing and stock markets. More than 7.5 mil people, or about 15% of U.S. homeowners, are spending at least half of their income on housing, up from nearly 7.1 mil last year, the Census Bureau said. Homeowners who spend 30% or more of income on housing are considered financially strapped.
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EDF launches 12.5 billion pound bid on British Energy
Posted on Sep 24, 2008 - 3:17 am - Reuters
Reuters - French utility EDF launched a 12.5 billion pound ($23.14 billion) agreed takeover bid on power producer British Energy , helping to secure Britain's nuclear future.
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European, Asian markets up on proposed US bailout
Posted on Sep 22, 2008 - 3:08 pm - AP
AP - Asian and European stock markets rose Monday as the U.S. government worked on a proposed $700 billion plan to ease the world financial crisis by rescuing banks from billions of dollars in risky mortgage debt.
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Euro stocks up, Asia's down as central banks act
Posted on Sep 18, 2008 - 12:42 pm - AP
AP - European stocks halted three days of losses in early afternoon trading Thursday, rising slightly after a concerted effort by central banks to pump billions more U.S. dollars into troubled money markets and limit the global financial crisis. Asian markets fell.
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European stocks rally on prospects for Lehman rescue
Posted on Sep 14, 2008 - 10:26 pm - AFP
AFP - Europe's main stock markets rose strongly Friday on prospects that beleaguered US investment bank Lehman Brothers might soon be saved and a report that it was in rescue talks, traders said.
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EADS denies backing out of U.S. tanker contest
Posted on Sep 13, 2008 - 2:20 pm - Reuters
Reuters - Airbus parent EADS denied on Saturday it was thinking of abandoning efforts to supply air tankers to the United States after a German weekly reported it was threatening to walk away from the fraught tender process.
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European stocks tumble amid weak global economy
Posted on Sep 11, 2008 - 5:12 pm - AFP
AFP - European stock markets slumped on Thursday in the wake of heavy falls in Asia, pulled down by sharp losses for the banks as the global economic outlook turns darker still, traders said.
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Enviros: Tie auto industry loans to fuel standards
Posted on Sep 11, 2008 - 5:12 pm - AP
AP - Environmental and consumer groups said Thursday that funding for a federal loan program to help the U.S. auto industry should have some strings attached — in the form of higher fuel efficiency standards.
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Ex-AIG CEO, others settle shareholder lawsuit
Posted on Sep 11, 2008 - 4:11 pm - Reuters
Reuters - Four former executives of American International Group Inc , including ex-CEO Maurice "Hank" Greenberg, agreed on Thursday to settle a long-standing shareholder lawsuit for $115 million.
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European stocks dip at open
Posted on Sep 11, 2008 - 8:10 am - AFP
AFP - European stock markets fell slightly at the start of trading on Thursday, with London's FTSE 100 index of leading shares down 0.08 percent at 5,362.10 points.
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Energy and tech lift Wall Street
Posted on Sep 10, 2008 - 2:07 pm - Reuters
Reuters - Stocks rose more than 1 percent on Wednesday as OPEC's move to shore up oil prices boosted energy shares and Texas Instruments' strong outlook eased fears about technology spending, offsetting anxiety about the banking sector.
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Energy, tech drive up market, offset financials
Posted on Sep 10, 2008 - 12:07 pm - Reuters
Reuters - Stocks rose on Wednesday as OPEC's move to shore up oil prices pushed energy shares higher and a reassuring outlook from Texas Instruments relieved concerns about technology spending, offsetting growing concerns about the health of the banking sector.
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Energy, Lehman plan, tech lift Wall St
Posted on Sep 10, 2008 - 10:06 am - Reuters
Reuters - U.S. stocks rose in choppy trade on Wednesday as rising oil prices lifted shares of energy companies and strategic steps outlined by Lehman Brothers calmed concerns about the investment bank's outlook.
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European stocks pause for breath at open
Posted on Sep 09, 2008 - 5:03 pm - AFP
AFP - European stock markets held steady at the opening of trade on Tuesday following surges the day before caused by the US bailout of former mortgage titans Fannie Mae and Freddie Mac.
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European Stock Futures Are Little Changed; Xstrata May Decline
Posted on Sep 09, 2008 - 3:02 pm - Bloomberg
Bloomberg - Sept. 9 (Bloomberg) -- European stock-index futures were little changed. Raw-materials producers will probably follow metal prices lower, while a retreat in oil may lift carmakers.
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