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Retailing Chains Caught in a Wave of Bankruptcies

a shared story    340 weeks 2 days 2 hours 50 minutes ago
The consumer spending slump and tightening credit markets are unleashing a widening wave of bankruptcies in American retailing, prompting thousands of store closings that are expected to remake suburban malls and downtown shopping districts across the country. Since last fall, eight mostly midsize chains — as diverse...(more) 




Food Costs Rising Fastest in 17 Years

a shared story    340 weeks 2 days 2 hours 53 minutes ago
Maybe the candidates should consider talking about an issue for a change instead of dragging everyone down. Here's a suggestion, from the story: "Steve Tarpin can bake a graham cracker crust in his sleep, but explaining why the price for his Key lime pies went from $20...(more) 




AIG crisis could be tip of an insurance iceberg

a shared story    290 weeks 3 days 7 hours 2 minutes ago
When insurance giant American International Group Inc. imploded last fall, the firm's problems were quickly blamed not on its core insurance business, but on an obscure operation that traded exotic mortgage securities. But as the economic crisis has deepened, it has become clear that AIG's problems extend...(more) 




US Foreclosure Filings Nearly Double in September

a shared story    366 weeks 6 days 18 hours 33 minutes ago
Foreclosure filings across the U.S. nearly doubled last month compared with September 2006, as financially strapped homeowners already behind on mortgage payments defaulted on their loans or came closer to losing their homes to foreclosure, a real estate information company said Thursday. 




AP study finds $1.6B went to bailed-out bank execs

a shared story    304 weeks 3 days 16 hours 30 minutes ago
Banks that are getting taxpayer bailouts awarded their top executives nearly $1.6 billion in salaries, bonuses, and other benefits last year, an Associated Press analysis reveals. 



buzz  17  + buzz


Citigroup Buys Banking Operations of Wachovia

a shared story    316 weeks 2 days 21 hours 35 minutes ago
Citigroup has agreed to buy Wachovia’s banking operations for $1 a share, a move that that would concentrate power within the nation’s banking industry in the hands of a few giant lenders.  




The American mood: Is the angst bottoming out?

a shared story    288 weeks 4 days 17 hours 34 minutes ago
Friday night in northern New Jersey, circa April 2009, offers clues to prove any theory about the American economic meltdown, depending on what you want to believe. Just like so many places these days. 




FHA's dilemma - back loans, stay solvent

a shared story    249 weeks 4 days 14 hours 28 minutes ago
Keally McBride and her husband both have good jobs and credit scores, but they would not have been able to buy their three-bedroom home in Oakland's Grand Lake area if not for Federal Housing Administration insurance that allowed them to put down just 3.5 percent. 



buzz  1  + buzz


European economic survey in surprise improvement

a shared story    16 minutes ago
LONDON (AP) -- A stronger than anticipated European economic survey has raised hopes in the markets that the recent slowdown may be coming to an end.... 



buzz  1  + buzz


UK retail sales fall in September

a shared story    16 minutes ago
UK retail sales fall 0.3% September, adding to signs that the economic recovery may be losing steam. 



buzz  13  + buzz


On brink of financial collapse, state lawmakers struggle with budget passage

a shared story    296 weeks 3 days 8 hours 22 minutes ago
Lawmakers continued struggling to pass a budget this afternoon after working nearly around the clock to end a three-month impasse that has brought California to the brink of fiscal collapse. An all-night legislative session failed to yield enough Republican votes for the spending plan, as GOP legislators...(more) 



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Credit Suisse CEO says sees no material issues in forex probe

a shared story    1 hour 16 minutes ago
ZURICH (Reuters) - Credit Suisse does not see material issues related to the global probe into the $5 trillion-a-day foreign exchange market, the Zurich-based bank's chief executive said on Thursday.  



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