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Northern Rock plan approved
Feb 21 2008 7:41PM (CT)
LONDON (AP) - Parliament passed legislation on Thursday that will allow the government to make Northern Rock PLC the first sizable British bank to be nationalized in 25 years.
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NY Times, McCain stand off over story
Feb 21 2008 6:06PM (CT)
NEW YORK (AP) - A New York Times story examining John McCain's relationship with a female lobbyist eight years ago has thrust the newspaper itself into the spotlight, with McCain slamming the story as a "hit-and-run smear campaign" and conservative pundits rallying to the senator's defense. The Times stood its ground.
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Treasurys rally on recession worries
Feb 21 2008 5:39PM (CT)
NEW YORK (AP) - Treasury prices advanced Thursday after new reports showed the economy should weaken further this year and that the decline of manufacturing in the Philadelphia area is accelerating.
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Treasurys rally on recession worries
Feb 21 2008 5:39PM (CT)
NEW YORK (AP) - Treasury prices advanced Thursday after new reports showed the economy should weaken further this year and that the decline of manufacturing in the Philadelphia area is accelerating.
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Short quarter trims JC Penney 4Q profit
Feb 21 2008 5:00PM (CT)
PLANO, Texas (AP) - J.C. Penney Co. said Thursday its fourth-quarter profit fell 10 percent as its middle-class customers struggled with a weakening economy, and the department store retailer predicted modest earnings this year.
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Reed Elsevier buys ChoicePoint for $3.6B
Feb 21 2008 4:59PM (CT)
ATLANTA (AP) - ChoicePoint Inc., a 1997 spinoff of credit agency Equifax, is being acquired by the parent of LexisNexis in a cash deal worth $3.6 billion, a major premium for a company that weathered an embarrassing breach of its database, federal investigations and a stock-trading probe of its top two executives.
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Group says US economy to slow further
Feb 21 2008 4:55PM (CT)
NEW YORK (AP) - The slowdown in the U.S. economy, coupled with a steady drip of bleak economic data, is starting to echo the conditions that presaged the country's most recent recession.
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Dollar falls against major currencies
Feb 21 2008 4:46PM (CT)
NEW YORK (AP) - The dollar slumped Thursday as disheartening economic data poured in, while the European Union gave an outlook that would show the euro zone growing faster than the U.S. economy.
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Dollar falls against major currencies
Feb 21 2008 4:46PM (CT)
NEW YORK (AP) - The dollar slumped Thursday as disheartening economic data poured in, while the European Union gave an outlook that would show the euro zone growing faster than the U.S. economy.
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Oil falls as crude supplies rise
Feb 21 2008 4:21PM (CT)
NEW YORK (AP) - Oil prices fell Thursday after a government report showed that the nation's crude oil supplies rose more than expected last week. At the pump, meanwhile, gas prices rose more than 3 cents overnight, a jump that could be a prelude to a much bigger price spike this spring.
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SocGen posts $4.91 billion 4Q loss
Feb 21 2008 4:08PM (CT)
PARIS (AP) - Troubled French bank Societe Generale SA said Thursday that a $7 billion trading scandal and the credit crisis in financial markets led to a fourth-quarter net loss.
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Precious metals spike on weak dollar
Feb 21 2008 3:57PM (CT)
NEW YORK (AP) - Precious metals prices soared Thursday, with gold, silver and platinum hitting record highs after a drop in the dollar led traders to shift funds into hard assets as safe-haven investments.
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Precious metals spike on weak dollar
Feb 21 2008 3:57PM (CT)
NEW YORK (AP) - Precious metals prices soared Thursday, with gold, silver and platinum hitting record highs after a drop in the dollar led traders to shift funds into hard assets as safe-haven investments.
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Rising factory costs erode China's edge
Feb 21 2008 3:27PM (CT)
SHANGHAI, China (AP) - The teddy bears selling for $1.40 in Shanghai's IKEA store may be just about the cheapest in town, but they're not made in China _ they're stitched and stuffed in Indonesia.
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Rates on 30-year mortgages rise
Feb 21 2008 3:26PM (CT)
WASHINGTON (AP) - Rates on 30-year mortgages rose to the highest level in seven weeks, breaking above the 6 percent level.
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Banking drags Allianz 4Q profits
Feb 21 2008 1:15PM (CT)
BERLIN (AP) - Insurer Allianz SE said Thursday fourth-quarter profit slipped by nearly 52 percent from a year ago, dragged down by its banking business and lower contributions from its insurance operations.
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J.C. Penney 4Q profit falls 10 percent
Feb 21 2008 10:14AM (CT)
NEW YORK (AP) - Department store retailer J.C. Penney Co. said Thursday its fourth-quarter profit fell 10 percent due to a shorter quarter, but earnings beat Wall Street expectations as the company cut expenses.
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China's Jan. surplus with US narrows
Feb 21 2008 8:54AM (CT)
BEIJING (AP) - China's trade surplus with the United States fell in January as demand for Chinese goods weakened amid fears of a U.S. recession, while the surplus with Europe surged by 42 percent, according to data reported Thursday.
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UBS cuts board room terms
Feb 21 2008 7:22AM (CT)
ZURICH, Switzerland (AP) - UBS AG said Thursday that board members will have to stand for election every year, an indication that the bank is giving in to investor anger over recent subprime troubles.
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SocGen posts Q4 loss
Feb 21 2008 4:56AM (CT)
PARIS (AP) - Troubled French bank Societe Generale SA said Thursday that a trading scandal and writedowns linked to the crisis in financial markets led to a net loss in the fourth quarter last year.
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SocGen posts Q4 loss
Feb 21 2008 4:56AM (CT)
PARIS (AP) - Troubled French bank Societe Generale SA said Thursday that a trading scandal and writedowns linked to the crisis in financial markets led to a net loss in the fourth quarter last year.
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Iowa researcher works on ethanol project
Feb 21 2008 3:54AM (CT)
SIOUX FALLS, S.D. (AP) - The nation's top ethanol producer is teaming with an Iowa State University researcher in hopes of squeezing more ethanol out of a kernel of corn.
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Iowa researcher works on ethanol project
Feb 21 2008 3:54AM (CT)
SIOUX FALLS, S.D. (AP) - The nation's top ethanol producer is teaming with an Iowa State University researcher in hopes of squeezing more ethanol out of a kernel of corn.
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States redefine family health policies
Feb 21 2008 3:24AM (CT)
WASHINGTON (AP) - Thomas Mahoney came out of a seizure last December surrounded by paramedics ready to take him to the hospital by ambulance. Mindful of the cost, he asked his mom and girlfriend to drive him instead, slipping in and out of consciousness along the way.
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Companies show concern about bee health
Feb 21 2008 1:35AM (CT)
SAN FRANCISCO (AP) - Farmer Scott Hunter's almond trees are exploding into a froth of pink and white blossoms that will eventually bear more than 1 ton of nuts intended for trail mix, cereals, pastries and ice cream _ but only if each bloom is visited by a honey bee.
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A century later, Camel gets a makeover
Feb 21 2008 1:33AM (CT)
RALEIGH, N.C. (AP) - The iconic Camel cigarette pack has undergone its first makeover since it hit store shelves almost a century ago, as R.J. Reynolds Tobacco Co. tests new ways to market its biggest brands in a lagging market for smokes.
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