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Southern lawmakers sour on Detroit bailout
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If it's no surprise that Michigan lawmakers are behind the pitch for a $25 billion lifeline for Detroit automakers, then it might be just as predictable that Southerners would be leading the charge against it. |
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Wall Street pulls off final-hour rebound
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Wall Street rebounded Tuesday in another turbulent session, as investors rushed back into the market after the Standard & Poor's 500 index tested a 2003 low. |
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Wholesale prices plunge, easing inflation concerns
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Wholesale prices in October experienced the biggest one-month drop on records that go back more than 60 years, illustrating the impact falling energy prices and fears of a prolonged recession can have on inflation. |
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Area businesses ready for tough holidays
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DURHAM -- Linens 'n Things has filed for bankruptcy. So has Circuit City.
J.C. Penney posted a 52 percent decline in profits from last year, and in Best Buy's recent quarterly earnings report, the electronics retailer said changes in consumer behavior have been "seismic." |
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Ecuador plans import controls amid world crisis
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Ecuador's leftist president announced a raft of import restrictions Tuesday designed to safeguard the economy as oil prices plunge, while foreign investors awaited his decision on whether he would halt debt payments. |
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Saks posts bigger-than-expected 3Q loss
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Saks Inc. reported a wider-than-expected loss for the third quarter Tuesday, as the company resorted to deep discounts in an attempt to pull in affluent customers spooked by massive job losses on Wall Street and shrinking stock portfolios. |
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HP shares soar after solid 4Q outlook
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Hewlett-Packard Co. surprised Wall Street on Tuesday by saying its earnings will be slightly above analysts' expectations, going against the grain as other technology bellwethers have slashed forecasts and posted weak results in the sagging economy. |
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Zigzagging on bailout rattles markets, critics say
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Financial markets hate uncertainty, but that's what they're getting from Washington. The Treasury Department's frequent, scattershot revisions to the $700 billion financial bailout have badly shaken investor confidence, and experts say the confusion could delay the lending revival necessary for an economic recovery. |
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NY's Cuomo asks AIG to detail plans for exec pay
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New York Attorney General Andrew Cuomo on Tuesday asked troubled insurance giant American International Group to reveal whether it intends to give bonuses or raises to its executives this year. |
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Home Depot 3Q profit falls 31 percent
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Home Depot Inc. gave investors a welcome surprise Tuesday, posting a better-than-expected third-quarter profit and offering Wall Street a second straight day of good news for the battered home improvement sector. |
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Oil prices fall below $54 a barrel
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Oil prices slipped further Wednesday, dipping below $54 on fears of global economic weakness that have sent crude down more than 60 percent in four months. |
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Companies likely to cut back on employee gifts
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Workers shouldn't count on lavish gift baskets or monogrammed cufflinks from their employers this holiday season. As companies face tighter budgets and layoffs in a tough U.S. economy, analysts and industry data suggest a slowdown in employee gift-giving. While financial worries have many consumers curtailing their spending, companies are scaling back their budgets as well. |
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