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Chrysler LLC is seeking court approval for a settlement with Daimler AG and private equity firm Cerberus that calls for them to forgive billions in loans to the bankrupt carmaker and contribute to its pension plans, in exchange for Chrysler dropping all claims against them, according to court papers.
German carmaker Daimler would forgive all […]
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U.S. home prices are their most affordable in 18 years, according to a report released Monday.
Nearly 73% of all homes sold in the United States during the first three months of 2009 were considered affordable. That was the highest percentage ever reported by the 18-year-old Housing Opportunity Index, an analysis of markets compiled […]
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Gas prices rose overnight, with the national average up nearly 12% in less than three weeks, according to a daily survey.
The national average price for a gallon of regular gasoline rose 0.9 cent Friday to $2.290 a gallon, reported motorist group AAA. Friday’s increase marks the 17th straight day of gains, during which […]
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Jefferson City — Just days after developer Paul McKee began lifting the veil on his massive north St. Louis redevelopment project, Missouri legislators made the plan just a little easier for him to pull off.
Late Thursday night, a measure was included in the state jobs bill to double the annual limit on tax […]
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The Obama administration, issuing its first progress report on the $787 billion stimulus program, said Wednesday that $88 billion has been made available and that it’s ahead of schedule in implementing most initiatives.
Of the $88 billion, some $28.5 billion has been actually spent with nearly $16 billion going for Medicaid payments to the states, […]
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Pfizer Inc. shares rose more than 5%, outpacing its pharmaceutical rivals, after an analyst note suggested the world’s largest drugmaker would likely increase its dividend payment after it completes the acquisition of smaller rival Wyeth.
Credit Suisse analyst Catherine Arnold, after a meeting with Pfizer management, said in a research note "expectations for future cash […]
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There’s plenty of economic pain to go around these days because of the recession. Now there’s this: Gas prices have surged nearly 10% over the past two weeks.
That’s a gain of 20 cents during the past 14 days, and the national average hit $2.248 a gallon on Tuesday, according to a survey by […]
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GRAY SUMMIT — On a hilltop at Purina Farms, yellow Caterpillar earth movers and green John Deere tractors stood idle. But Chance, a little Parson Russell terrier, was a bundle of hustle. He strained against his leash as a trainer buried a blue rubber toy in the sand.
The ceremonial groundbreaking of the […]
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Even though retailers got some much-needed relief from their sales drought in April, industry watchers cautioned against concluding that American consumers are back to shopping with a vengeance.
Monthly same-store sales did pick up for many merchants in April. Same-store sales, a key measure of a retailer’s performance, are sales at stores open at least […]
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The U.S. government isn’t due to reveal the results of its stress tests on banks until Thursday, but leaked results are painting a troubling picture.
Regulators have determined that Bank of America (BAC, Fortune 500) may need roughly $34 billion in capital to weather a more painful economic environment, several reports published late Tuesday said, […]
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