Fed sees economic woes persisting into next year
Pounded by a fierce financial crisis, the country is sinking deeper into economic despair and is likely to be in the hole well into next year, forcing more Americans into the ranks of the unemployed. ...
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Asian markets extend world rout on recession fears
Asian stock markets tumbled Thursday, with benchmarks in Japan and Hong Kong both losing more than 5 percent, after fears of a protracted recession sent Wall Street plunging to it lowest point in five ...
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Oil falls below $53 on fears of deep recession
Oil prices fell below $53 to almost a two-year low Thursday in Asia as investors, egged on by plummeting stock markets, priced in lower crude demand from a global economic downturn that's shaping up a ...
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GM, Chrysler scale back glitz at LA auto show
Chrysler and General Motors are still showing off their newest vehicles at the Los Angeles Auto Show, but their displays were noticeably quiet Wednesday while Asian and European companies unveiled new ...
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Dow falls below 8,000, S&P at 5-year low
Wall Street hit levels not seen since 2003 on Wednesday, with the Dow Jones industrial average plunging below the 8,000 mark amid a dour economic outlook from the Federal Reserve and worries over the ...
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Ballmer dismisses Yahoo buyout but open on search
Microsoft Corp. is no longer interested in buying all of Yahoo Inc., CEO Steve Ballmer said Wednesday, though he told shareholders that the company would still be "very open" to a collaboration on Int ...
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Consumer prices drop record 1 percent in October
Consumer prices plunged by the largest amount in the past 61 years in October as gasoline pump prices dropped by a record amount. ...
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Fed sharply lowers forecasts, hints of rate cut
The Federal Reserve on Wednesday sharply lowered its projections for economic activity this year and next, and signaled that additional interest rate reductions may be needed to help combat the worst ...
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Democrats seek to lower expectations for bailout
Top Senate Democrats suggested Wednesday that a bill to rescue Detroit's Big Three automakers was stalled and challenged the Bush administration to take steps to save the industry if congressional eff ...
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US home construction sinks to new record low
Construction of new homes plunged last month to the lowest level on records going back nearly 50 years as U.S. builders slashed production while Wall Street nosedived. ...
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