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Pending sales of previously owned U.S. homes rose unexpectedly to their highest level in 3-1/2 years in October, a survey showed on Tuesday, suggesting the housing market recovery was gaining steam.
The National Association of Realtors said its Pending Home Sales Index, based on contracts signed in October, rose 3.7 percent to 114.1, rising for […]
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MONTREAL–Bombardier Aerospace says it will lay off an additional 715 workers in its Montreal-area facilities as it reduces production of its CRJ regional jets.
The company says a tough economic and airline industry environment make it difficult to gain new aircraft orders. Executives have been warning of cuts to the company's workforce for some […]
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Federal prosecutors in the Galleon Group case have sent a subpoena to a former employee of Steven A. Cohen’s SAC Capital Advisors, a sign that the scope of the problem into the largest hedge fund insider trading case in history is expanding, the Wall Street Journal reported, citing people familiar with the matter.
The subpoena […]
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Wells Fargo reported record profits of $3.2 billion, the company said Wednesday, nearly doubling the amount of money it made just a year ago.
Despite facing an ongoing recession and rising loan losses, the San Francisco-based bank said its third-quarter results were lifted by strong performances in its mortgage lending business and other divisions.
"Third quarter […]
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Stocks slipped Friday, as falling oil prices dragged on the influential commodities sector and investors took a step back after pushing the major indexes to 11-month highs in the previous session.
The Dow Jones industrial average (INDU) lost 21 points, or 0.2%. The S&P 500 (SPX) index lost 1 point, or 0.1%. Both the Dow […]
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Germany is ready for further talks with General Motors on the sale of European carmaker Opel and wants to avoid confrontation with the U.S. firm on the matter, a government spokesman said on Monday.
“It is important not to resort to confrontation,” government spokesman Ulrich Wilhelm said at a regular government news conference, adding the […]
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A new government investigative panel charged with getting to the bottom of what caused the financial crisis was assembled on Wednesday, and its chairman vowed to begin work soon.
Congressional leaders named 10 members of the Financial Crisis Inquiry Commission, which has the power to hold hearings and collect records examining everything from fraud to […]
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from an NHL hockey team to Obama’s suit maker — that are hitting the skids.
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NEW YORK (Reuters) — U.S. consumer sentiment wilted in early July to the weakest since March, when confidence in the financial […]
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California, which is struggling to close a $24.3 billion budget gap, faces the prospect of a "multi-notch" downgrade in its credit rating if the state’s legislature fails to act quickly to produce a budget, Moody’s Investors Service warned Friday.
Moody’s decision to place California’s general obligation debt on alert for a possible "multi-notch" downgrade stunned […]
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South Korea’s government said it’s “too early” to be too optimistic about the economic outlook, as the economy faces a number of uncertainties including the global financial-market unrest.
“The local economy is continuing its recovery trend and the global economic slump is showing signs of easing,” the finance ministry said in a monthly economic […]
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