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Oil notches record monthly drop on US downturn

Oil prices ended the week with a modest rally Friday but couldn't erase one ugly October: Crude capped its biggest monthly drop since futures tradin[...] read more »
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Speculation about Yahoo-Google deal rampant

As talks between Google, Yahoo and the U.S. Department of Justice drag on, investors are betting that the two Internet companies will walk away from [...] read more »
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FDA Faulted for Stance on Chemical in Plastics

A U.S. Food and Drug Administration advisory panel agreed Friday that the agency had erred in August when it said that a chemical widely used in baby[...] read more »
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Bernanke discusses future of Fannie and Freddie

Federal Reserve Chairman Ben Bernanke said Friday that the federal government will need to continue to play a role in the future of the mortgage fina[...] read more »
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JPMorgan Chase Freezes Foreclosures

In what may the biggest sign yet that banks are getting serious about attacking the nationwide wave of home foreclosures, giant JPMorgan Chase (JPM) [...] read more »
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REIT Spinoff Is Proposed for Target

Activist investor William Ackman on Wednesday proposed spinning off the land Target Corp. owns under its stores into a separate, publicly traded real[...] read more »
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Legg Mason, Lazard Blame Market For Losses

Asset-management firms Legg Mason and Lazard separately blamed deteriorating market conditions for wider-than-expected losses stemming from large cha[...] read more »
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Wall Street Won't Surrender Bonuses Amid Outcry, Veterans Say

Wall Street's chief executives will hunker down and pay bonuses this year in the face of the worst financial crisis since the Great Depression, a ta[...] read more »
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Mazda profit drops 20 percent on yen, material costs

Mazda Motor Corp (7261.T: Quote, Profile, Research, Stock Buzz) reported a 20 percent drop in quarterly operating profit on Thursday, hit by a strong[...] read more »
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OPEC Agrees to Cut Production Quotas as Price Slumps (Update2)

The Organization of Petroleum Exporting Countries cut oil production targets for the first time in almost two years as the group battles to slow a co[...] read more »
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Stock markets fall across the globe

U.S. stocks plunged after the opening bell on yet another frantic Friday that saw another bloodletting on stock exchanges across the planet, turmoil [...] read more »
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Chrysler to Cut 25% of Salaried and Contract Jobs

Chrysler, which is in merger talks with its crosstown rival, General Motors, told its employees Friday that it would cut about 25 percent of its sala[...] read more »
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PNC Financial to Buy National City for $5.2 Billion (Update3)

PNC Financial Services Group Inc., Pennsylvania's biggest bank, plans to buy National City Corp. for about $5.2 billion in stock with funds from th[...] read more »
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U.S. Home Resales Rose in September to One-Year High (Update2)

Home resales in the U.S. rose more than forecast in September, aided by foreclosure-driven declines in prices that made properties more affordable. read more »
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Paulson Is Said to Plan Buying Stakes in Regional U.S. Banks

Treasury Secretary Henry Paulson is preparing to take stakes in a number of regional U.S. banks as he seeks to halt the freeze of credit to businesse[...] read more »
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