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President Bush: Automakers To Get $17.4 Billion

Updated: 12/19/2008 - The Bush administration came to the rescue of the troubled U.S. auto industry, offering $17.4 billion in loans in exchange for concessions from carmakers and their workers.

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Mass. Investor Saw Inside Madoff Scam

Posted: 12/19/2008 - His repeated warnings that Wall Street money manager Bernard Madoff was running a giant Ponzi scheme have cast Harry Markopolos as an unheeded prophet.

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Panasonic To Buy Sanyo In $9 Billion Deal

Posted: 12/19/2008 - Panasonic will acquire rival Japanese electronics maker Sanyo for up to 800 billion yen ($9 billion) through a public tender offer after top shareholders, including Goldman Sachs, agreed to the takeover, the companies said Friday.

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AP Exclusive: Expert Seeks Treasury Spending Plan

Posted: 12/19/2008 - The top congressional watchdog overseeing the nation's financial bailout says she wouldn't buy a winter coat without a spending plan. And she says she's frustrated by the Treasury Department's refusal to explain how it is doling out billions in taxpayer money.

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Lehman Broker Charged In Insider Trading Case

Posted: 12/19/2008 - A former Lehman Brothers broker who gleaned tips about pending mergers from his wife, a partner at a high-powered public relations firm, was charged Thursday in a wide-ranging insider trading scheme that earned $4.8 million in profits for several people including a former Playboy model and two lawyers, authorities said.

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Fed Cuts Target For Key Rate To Record Low

Updated: 12/16/2008 - The Federal Reserve has cut its target for a key interest rate to the lowest level on record and pledged to use "all available tools" to combat a severe financial crisis and prolonged recession.

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Fed Ready To Slash Rates Amid Deepening Recession

Posted: 12/16/2008 - As unemployment rises painfully higher and nest eggs are shattered, the Federal Reserve is prepared slash a key interest rate — perhaps to an all-time low — in a desperate bid to stem the country's economic slide.

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Detroit Papers Set To Announce Major Changes

Posted: 12/16/2008 - Newspapers are desperately seeking new business models that will help them survive dwindling readership and a deep advertising slump exacerbated by the recession.

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White House Assures Automakers Help Is On The Way

Posted: 12/16/2008 - Detroit automakers, teetering on the brink of collapse, are receiving strong signals from the White House that short-term help is on the way while a key senator says the relief package could reach $15 billion for GM and Chrysler.

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Fund Manager In Scandal Once Boasted About Profits

Posted: 12/16/2008 - The money manager accused of duping investors in one of Wall Street's biggest Ponzi schemes once boasted to the Securities and Exchange Commission about how much money he earned and formally advised the U.S. government on ways to protect investors from scam artists.

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Fed To Rule Soon On Sweeping Credit Card Changes

Posted: 12/14/2008 - Credit card companies could no longer boost interest rates on existing account balances if the Federal Reserve adopts new rules as written at a meeting set for Thursday.

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Retail Sales And Prices Fall Again

Posted: 12/13/2008 - Signs that the recession will be long and severe mounted Friday with a fresh round of bad economic news, including plunging sales from manufacturers to stores and falling prices that raise fears of dangerous deflation.

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White House Promises Last-Ditch Auto Rescue

Updated: 12/13/2008 - With Congress gridlocked, the Bush administration declared it would step in to prevent the "precipitous collapse" of the U.S. auto industry and the loss of hundreds of thousands of jobs sure to follow.

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World Markets Drop On Rejection Of US Auto Bailout

Posted: 12/12/2008 - World stock markets plunged Friday after a proposed U.S. government rescue of Detroit's ailing automakers collapsed in the Senate, intensifying fears about a protracted global slump.

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Dollar Falls To 13-Year Low Against Yen

Posted: 12/12/2008 - The dollar plunged to a 13-year low against the yen Friday, following the collapse of a $14 billion government bailout for U.S. automakers

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$14 Billion Auto Bailout Dies In Senate

Posted: 12/12/2008 - A $14 billion emergency bailout for U.S. automakers collapsed in the Senate Thursday night after the United Auto Workers refused to accede to Republican demands for swift wage cuts.

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Gas Drops Below $1.50 A Gallon!

Updated: 12/11/2008 - The the first time in some five years the price of gasoline has dipped below $1.50 a gallon here in Eastern Carolina.

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