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submitted by Robby for team staff news 8 hours 36 minutes ago
How a giant has fallen. Fannie Mae, once the largest public company in the Washington area and a bedrock of the U.S. financial industry, disclosed yesterday it is at risk of being dropped from the New York Stock Exchange. The announcement came after the mortgage...(more)
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submitted by Robby for team staff news 1 day 1 hour 36 minutes ago
BRUSSELS, Belgium (AP) -- A Belgian commercial court on Tuesday threw out a shareholder challenge to the fire sale of troubled bank Fortis to France's BNP Paribas....
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submitted by Robby for team staff news 1 day 10 hours 36 minutes ago
The Treasury Department said yesterday that it has made investments in four banks with a presence in the Washington area, adding to a list of financial firms that are participating in the government's efforts to prop up the U.S. financial system. The deadline for publicly...(more)
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submitted by Robby for team staff news 2 days 2 hours 36 minutes ago
Citigroup announced plans to lay off approximately 50,000 people worldwide as the company tries to rebound from a year of steady losses and problems linked to the global financial crisis. In a presentation at an employee town hall meeting today, Citigroup chief executive Vikram Pandit...(more)
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submitted by Robby for team staff news 4 days 9 hours 36 minutes ago
Congressional Democrats' decision will delay a major boost to the economy until Obama is in office. Reid blames a lack of Republican support. Congressional Democrats on Friday abandoned plans to offer a wide-ranging economic stimulus plan next week, putting off any chance that the federal government...(more)
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submitted by Robby for team staff news 3 days 11 hours 36 minutes ago
DETROIT -- In Washington, President Bush and others see the $25 billion in loans Congress has already approved to retool the ailing automobile industry as a convenient pot of money to help automakers survive the economic tumult. But here, automakers regard that money differently; it...(more)
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submitted by Robby for team staff news 4 days 20 hours 36 minutes ago
The latest snapshot of American spending revealed that consumers remained in distress as retail sales plunged by 2.8 percent in October compared with the previous month, according to government data released this morning. The gloomy results marked the fourth straight month of decline as shoppers...(more)
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submitted by Robby for team staff news 4 days 9 hours 36 minutes ago
Lawmakers investigating Federal Communications Commission Chairman Kevin J. Martin said yesterday that he has failed to respond to their requests for an interview, even though Congress has neared the final stages of its inquiry into his leadership. Reps. John D. Dingell (D-Mich.), chairman of the...(more)
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submitted by Robby for team staff news 4 days 22 hours 36 minutes ago
Sun Microsystems announced plans Friday to shed as many as 6,000 workers in a major restructuring aimed at returning the company to profitability. The software and server maker has struggled to maintain sales of its servers, which has hurt its stock price and...
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submitted by Robby for team staff news 5 days 11 hours 36 minutes ago
"This is a decisive moment for the global economy," President Bush declared yesterday in New York as leaders from the 20 largest economies headed toward Washington for an emergency meeting on the unfolding global economic crisis. It's not only a decisive moment for the economy,...(more)
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submitted by Robby for team staff news 5 days 12 hours 35 minutes ago
The German economy tipped into recession in the third quarter as weakening exports fueled a decline in national output.
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submitted by Robby for team staff news 6 days 2 hours 36 minutes ago
WASHINGTON (AP) -- A record decline in the price of crude oil helped to push the U.S. trade deficit down to the lowest level in nearly a year even though the deficit with China shot up to an all-time high....
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