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Freddie Mac pays $50M to settle charges
Sep 27 2007 11:22PM (CT)
WASHINGTON (AP) - Freddie Mac, the nation's second-largest financer of home mortgages, is paying a $50 million fine to settle civil securities fraud charges brought by federal regulators in a four-year accounting lapse.
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Oil surges on supply, Iran worries
Sep 27 2007 5:56PM (CT)
NEW YORK (AP) - Oil and other petroleum futures surged Thursday amid supply concerns sparked by a decline in crude inventories at a key Oklahoma terminal and the confrontation between the West and Iran.
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Dollar hits another low against euro
Sep 27 2007 5:54PM (CT)
NEW YORK (AP) - The U.S. dollar dropped to a record low against the euro for a sixth consecutive session Thursday, sagging under expectations of a U.S. Federal Reserve rate cut next month.
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UAW deal said to save GM billions
Sep 27 2007 5:53PM (CT)
DETROIT (AP) - If United Auto Workers ratify a groundbreaking new contract with General Motors Corp., its provisions likely will save the company $2 billion to $3 billion per year which it can pump into the development of new products like electric cars, according to several industry analysts.
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UAW deal said to save GM billions
Sep 27 2007 5:53PM (CT)
DETROIT (AP) - If United Auto Workers ratify a groundbreaking new contract with General Motors Corp., its provisions likely will save the company $2 billion to $3 billion per year which it can pump into the development of new products like electric cars, according to several industry analysts.
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SEC filings: Midwest sought other buyers
Sep 27 2007 5:52PM (CT)
MILWAUKEE (AP) - Facing a hostile takeover by rival AirTran Holdings Inc., Midwest Air Group Inc. contacted several companies to persuade them to buy the airline instead, according to new regulatory filings.
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KB Home: Housing market slump to last
Sep 27 2007 5:48PM (CT)
LOS ANGELES (AP) - KB Home, one of the nation's largest homebuilders, swung to a loss Thursday, citing a deep deterioration in the housing market and warning the sales slump will likely extend into next year.
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KB Home: Housing market slump to last
Sep 27 2007 5:48PM (CT)
LOS ANGELES (AP) - KB Home, one of the nation's largest homebuilders, swung to a loss Thursday, citing a deep deterioration in the housing market and warning the sales slump will likely extend into next year.
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KB Home: Housing market slump to last
Sep 27 2007 5:48PM (CT)
LOS ANGELES (AP) - KB Home, one of the nation's largest homebuilders, swung to a loss Thursday, citing a deep deterioration in the housing market and warning the sales slump will likely extend into next year.
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KB Home: Housing market slump to last
Sep 27 2007 5:48PM (CT)
LOS ANGELES (AP) - KB Home, one of the nation's largest homebuilders, swung to a loss Thursday, citing a deep deterioration in the housing market and warning the sales slump will likely extend into next year.
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Fidelity reorganizes under new president
Sep 27 2007 5:44PM (CT)
BOSTON (AP) - Fidelity Investments is bringing together its individual investments and workplace savings operations in a reorganization that also carves out Fidelity's employer human resources services into a separate unit.
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KBR looking to diversify business
Sep 27 2007 4:15PM (CT)
LEAGUE CITY, Texas (AP) - KBR Inc., the former Halliburton subsidiary whose work for the U.S. military in Iraq has prompted congressional inquiries, plans to place greater emphasis on domestic industrial construction and other parts of its business, the company's top executive said Thursday.
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KBR looking to diversify business
Sep 27 2007 4:15PM (CT)
LEAGUE CITY, Texas (AP) - KBR Inc., the former Halliburton subsidiary whose work for the U.S. military in Iraq has prompted congressional inquiries, plans to place greater emphasis on domestic industrial construction and other parts of its business, the company's top executive said Thursday.
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AHM deflects blame on bounced checks
Sep 27 2007 3:56PM (CT)
NEW YORK (AP) - American Home Mortgage Investment Corp. bounced 564 property tax checks in Maryland but blamed other financial institutions for the problem, the state's commissioner of financial regulation said Thursday.
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Rite Aid reports much wider 2Q loss
Sep 27 2007 3:39PM (CT)
HARRISBURG, Pa. (AP) - Rite Aid Corp.'s second-quarter loss widened sharply and the drug store chain warned Thursday it expects to lose more than it previously forecast for the year.
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Wheat, soybean and oil prices soar
Sep 27 2007 3:34PM (CT)
NEW YORK (AP) - Wheat, corn and soybean prices surged Thursday after the Agriculture Department said U.S. exports are well ahead of the average pace for this time of year _ a reflection of strong worldwide demand and tight supplies.
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Analysis: Housing, credit whammy a blow
Sep 27 2007 3:11PM (CT)
WASHINGTON (AP) - The double whammy of a worsening housing slump and a credit crunch is punching the economy in its gut. That's likely to mean a period of slower activity in the months ahead.
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Analysis: Housing, credit whammy a blow
Sep 27 2007 3:11PM (CT)
WASHINGTON (AP) - The double whammy of a worsening housing slump and a credit crunch is punching the economy in its gut. That's likely to mean a period of slower activity in the months ahead.
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Analysis: Housing, credit whammy a blow
Sep 27 2007 3:11PM (CT)
WASHINGTON (AP) - The double whammy of a worsening housing slump and a credit crunch is punching the economy in its gut. That's likely to mean a period of slower activity in the months ahead.
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Treasurys rise on drop in home sales
Sep 27 2007 2:37PM (CT)
NEW YORK (AP) - Long-term Treasury prices ended higher Thursday after the government reported a sharp drop in new home sales, rekindling investor nervousness about the housing market.
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Treasurys rise on drop in home sales
Sep 27 2007 2:37PM (CT)
NEW YORK (AP) - Long-term Treasury prices ended higher Thursday after the government reported a sharp drop in new home sales, rekindling investor nervousness about the housing market.
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BA orders Boeing, Airbus planes
Sep 27 2007 1:44PM (CT)
LONDON (AP) - British Airways PLC divided its largest aircraft order in nine years between rivals Airbus and Boeing Co. on Thursday as the airline prepares to increase capacity on its long-haul routes.
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Microsoft slams Google-DoubleClick deal
Sep 27 2007 1:31PM (CT)
WASHINGTON (AP) - Google Inc.'s proposed $3.1 billion acquisition of online advertising firm DoubleClick Inc. raises significant antitrust and privacy concerns, a Microsoft Corp. executive told senators Thursday.
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New-home sales tumble to 7-year low
Sep 27 2007 11:53AM (CT)
WASHINGTON (AP) - New-homes sales tumbled in August to the lowest level in seven years, a stark sign that the credit crunch is aggravating an already painful housing slump.
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Rates on 30-year mortgages rise
Sep 27 2007 11:28AM (CT)
WASHINGTON (AP) - Rates on 30-year mortgages rose for a second straight week, a sharp rebound after hitting a four-month low.
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Verizon Wireless to allow abortion texts
Sep 27 2007 10:30AM (CT)
NEWARK, N.J. (AP) - Reversing course, Verizon Wireless on Thursday said it will allow an abortion rights group to use its mobile network for a sign-up text messaging program.
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Swedish regulator approves Nasdaq
Sep 27 2007 9:13AM (CT)
STOCKHOLM, Sweden (AP) - Sweden's financial regulator said Thursday it approved Nasdaq's suitability as a potential owner for exchange operator OMX AB.
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Wendy's franchise owner wants to make bid
Sep 27 2007 8:29AM (CT)
COLUMBUS, Ohio (AP) - The owner of 134 Wendy's restaurants wants to make a bid for the nation's No. 3 hamburger chain with two private-equity firms.
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Lead content prompts more toy recalls
Sep 27 2007 3:26AM (CT)
WASHINGTON (AP) - Toys and children's necklaces made in China were recalled Wednesday, including five more items from the popular Thomas & Friends Wooden Railway product line, because they contain dangerous levels of lead.
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Cattle disease spreading to Ky. herds
Sep 27 2007 3:13AM (CT)
LOUISVILLE, Ky. (AP) - An insect-borne virus that has taken a toll on deer has spread to some cattle herds, presenting another problem for producers already struggling with a shortage of feed supplies, authorities said.
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