U.S. wants to fast-track GM IPO
Published Thursday, Nov. 19, 2009
The Obama administration wants a fast-track initial public offering of General Motors Co shares to reduce its majority stake in the automaker, a senior official said.
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Housing starts fall sharply, inflation edges up
Published Thursday, Nov. 19, 2009
Construction of new homes in the United States hit a six month low in October, providing more evidence of the economy's sluggish recovery, while a surge in the cost of new and used vehicles lifted consumer prices.
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Walmart.com touts pricing clout for holidays
Published Thursday, Nov. 19, 2009
Walmart.com will pull no punches in its quest to win market share this holiday season, introducing 97-cent shipping on electronics and offering daily discounts the week after Thanksgiving, its chief executive said on Wednesday.
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BofA knew of Merrill pain in November: House panel
Published Wednesday, Nov. 18, 2009
A congressional panel accused Bank of America Corp on Tuesday of knowing about Merrill Lynch & Co's huge losses as early as November 2008, suggesting the bank lied to investors in saying it did not grasp the depth of the problems until the following month. Read More |
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BlackBerry CEOs stick to strategy, dismiss analysts
Published Wednesday, Nov. 18, 2009
Research In Motion's top executives say the BlackBerry will hold its ground in a fierce battle with Apple's iPhone and other rivals, even as a boom in smartphone sales shakes up a market segment that their company once ruled. Read More |
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Hershey, Ferrero in early talks on Cadbury: source
Published Wednesday, Nov. 18, 2009
U.S. chocolate company Hershey Co held "very preliminary" talks with Italian chocolate maker Ferrero SpA about a potential joint bid for Cadbury Plc, a source familiar with the talks said on Tuesday. Read More |
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Ex-Merrill CEO favors "too big to fail" fund
Published Wednesday, Nov. 18, 2009
Breaking up the biggest U.S. banks is not a practical solution to addressing the "too big to fail" problem, former Merrill Lynch Chief Executive John Thain said on Tuesday. Read More |
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Walmart touts new price cuts ahead of Black Friday
Published Wednesday, Nov. 18, 2009
Wal-Mart Stores Inc said it will offer steep discounts on toys and electronics in its U.S. stores this Saturday, one week before "Black Friday" kicks off the traditional holiday shopping rush. Read More |
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1st CHOICE Realty opens at Harbour Village
Published Tuesday, Nov. 17, 2009
1st Choice Realty has announced the opening of a new 4,200 square-foot office one mile north of the intersection of highways 183 and 130 in Salem, at Harbour Village.
A grand opening ceremony was held Nov. 11 with over 500 local residents in attendance. Read More |
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Trehel to aid industry’s expansion
Published Tuesday, Nov. 17, 2009
Trehel Corporation announces its recent selection to provide design/build construction services for Greenfield Industries’ new expansion. Read More |
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Retail sales rise 1.4 percent in October
Published Tuesday, Nov. 17, 2009
Retail sales rose more than expected in October due largely to a big rebound in auto sales. But broader consumer spending remains under pressure, raising questions about the durability of the recovery. Read More |
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GM reports $1.2B loss, says it shows progress
Published Tuesday, Nov. 17, 2009
General Motors Co. says it lost $1.2 billion from the time it left bankruptcy protection through Sept. 30, far better than it has reported in previous quarters and a sign that the auto giant is starting to turn around its business. Read More |
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Fed eyes dollar drop, but hews to low-rate pledge
Published Tuesday, Nov. 17, 2009
Federal Reserve Chairman Ben Bernanke, in a rare comment on the U.S. dollar's value, on Monday acknowledged the currency's slump was raising some prices, but said other factors restraining inflation were winning the day.
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Gold hits record as dollar slips
Published Tuesday, Nov. 17, 2009
Gold raced to a record high above $1,140 an ounce on Monday, gaining 2 percent as a weakened dollar boosted funds' risk appetite for investments across the board.
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Retail sales surge on autos, manufacturing slows
Published Tuesday, Nov. 17, 2009
U.S. retail sales grew more than expected last month as vehicle purchases bounced back, but non-auto sales rose modestly, suggesting consumers remained too cautious to drive a robust economic recovery.
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