Consumer prices, home starts plunge in October
Published Thursday, Nov. 20, 2008
Consumer prices fell at a record pace in October and new-home building slumped to fresh lows, according to government reports on Wednesday that suggested the economy likely is already in a recession that may be long and deep.
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Auto execs testify as legislators try for deal
Published Thursday, Nov. 20, 2008
U.S. auto executives went to Capitol Hill for a second day on Wednesday to argue their case for $25 billion in aid as legislators proposed changes to help a bailout pass Congressional and White House muster.
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Pershing's Ackman sets new Target plan but shares fall
Published Thursday, Nov. 20, 2008
Hedge fund manager William Ackman unveiled on Wednesday his latest plan to boost Target Corp's (TGT.N: Quote, Profile, Research, Stock Buzz) stock price by forming a trust that owns the land under its discount stores, and then spinning off 20 percent of that trust in an initial public offering.
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Fed minutes: may need more rate cuts if growth ebbs
Published Thursday, Nov. 20, 2008
Federal Reserve officials slashed economic growth forecasts through 2009 and some believed even deeper interest rate cuts may be needed if growth slows further, minutes of their October policy meeting show.
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U.S. auto execs plead for Congress to fund bailout
Published Wednesday, Nov. 19, 2008
U.S. auto executives warned Congress on Tuesday that their industry was teetering on the brink of disaster as they pleaded for a $25 billion aid package despite political opposition to another multibillion-dollar government bailout.
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Lawmakers, Treasury lock horns on foreclosures
Published Wednesday, Nov. 19, 2008
Treasury Secretary Henry Paulson and members of Congress clashed on Tuesday over the best use for the $700-billion financial bailout fund, with lawmakers demanding money to stem a national wave of mortgage foreclosures.
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Cuban responds to SEC, says no secrecy deal
Published Wednesday, Nov. 19, 2008
Billionaire basketball team owner Mark Cuban responded to U.S. insider trading charges on Tuesday, saying on his website that he had not agreed to keep information about a proposed stock sale confidential. Read More |
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HP sees stronger-than-expected 2009, shares up
Published Wednesday, Nov. 19, 2008
Hewlett-Packard Co posted stronger-than-expected results and forecast full-year profit above Wall Street estimates, underscoring its resilience to an economic crisis that has dragged down other tech companies. Read More |
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U.S. insurance regulation in focus amid meltdown
Published Wednesday, Nov. 19, 2008
The United States is expected to embrace federal regulation of the insurance industry as early as 2009, according to financial and insurance executives, pushed to the forefront by the global economic crisis. Read More |
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Citigroup to slash 52,000 jobs
Published Tuesday, Nov. 18, 2008
Citigroup Inc revealed plans to cut 52,000 jobs by early next year in a dramatic move to restore the No. 2 U.S. bank to health as it combats mounting debt losses and sagging economies worldwide.
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SEC charges Mark Cuban with insider trading
Published Tuesday, Nov. 18, 2008
Mark Cuban, owner of the Dallas Mavericks professional basketball team, was charged with insider trading in shares of Mamma.com Inc, an Internet search engine firm, the Securities and Exchange Commission said on Monday.
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Congress, White House race clock on automaker rescue
Published Tuesday, Nov. 18, 2008
The White House and congressional Democrats launched a post-election showdown on Monday over how to rescue U.S. automakers with millions of jobs, more than a century of iconic brands, and potentially economic confidence, riding on the outcome. Read More |
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