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Wells Fargo plans $1.4B charge on loans
Nov 27 2007 9:22PM (CT)
SAN FRANCISCO (AP) - Wells Fargo & Co. is absorbing $1.4 billion in losses on home equity loans that borrowers have stopped repaying amid a deepening real estate slump that's turned into a financial sinkhole.
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Freddie Mac to sell stock, cut dividend
Nov 27 2007 8:02PM (CT)
WASHINGTON (AP) - Freddie Mac halved its dividend and unveiled plans to sell $6 billion of preferred stock to bolster the mortgage investor's finances in anticipation of more losses, the company said Tuesday.
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Mayors seek answers to housing crisis
Nov 27 2007 6:23PM (CT)
DETROIT (AP) - A mortgage industry group agreed Tuesday to help the nation's mayors raise public awareness about ways to avoid falling into foreclosure as part of an effort to address the nation's housing crisis.
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Mayors seek answers to housing crisis
Nov 27 2007 6:23PM (CT)
DETROIT (AP) - A mortgage industry group agreed Tuesday to help the nation's mayors raise public awareness about ways to avoid falling into foreclosure as part of an effort to address the nation's housing crisis.
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Toyota faces claims of safety defects
Nov 27 2007 6:20PM (CT)
STOCKTON, Calif. (AP) - Gurinder Singh's lawyers say he would still have a father if a faulty seatbelt in the family car had unlatched instead of pinning his dad inside the flaming Toyota Corolla where he lost his life.
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Toyota faces claims of safety defects
Nov 27 2007 6:20PM (CT)
STOCKTON, Calif. (AP) - Gurinder Singh's lawyers say he would still have a father if a faulty seatbelt in the family car had unlatched instead of pinning his dad inside the flaming Toyota Corolla where he lost his life.
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Treasurys plunge as stocks stage rebound
Nov 27 2007 5:43PM (CT)
NEW YORK (AP) - Treasury prices plunged Tuesday after news of a capital infusion for ailing Citigroup Inc. emboldened investors to venture back into stocks and diminished the appeal of government bonds.
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Staples 3Q profit, same-store sales fall
Nov 27 2007 5:24PM (CT)
BOSTON (AP) - Staples Inc.'s third-quarter profit dipped 5 percent as consumers spent less on office supplies, but sales of highly profitable items like ink cartridges grew, and Staples' performance beat Wall Street expectations.
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Citi sells stake to Abu Dhabi fund
Nov 27 2007 5:16PM (CT)
NEW YORK (AP) - The Abu Dhabi Investment Authority will invest $7.5 billion in Citigroup, offering the nation's largest bank needed capital to offset big losses from mortgages and other investments.
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Oil off on economy fears, OPEC forecasts
Nov 27 2007 4:47PM (CT)
NEW YORK (AP) - Oil prices plunged Tuesday, picking up downward momentum amid concerns that a slowing economy might reduce demand for crude just as OPEC members are considering an increase in production. Prices were also pressured by apparent progress at the Mideast peace summit in Annapolis, Md.
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Energy prices tumble, metals also fall
Nov 27 2007 3:39PM (CT)
NEW YORK (AP) - Oil prices tumbled Tuesday on expectations that the world's major oil producing nations may increase output to ease supply concerns, and to help pressure prices down from record levels.
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Sovereign wealth funds' might grows
Nov 27 2007 3:11PM (CT)
CAIRO, Egypt (AP) - The decision by the world's largest sovereign wealth fund to invest billions in struggling Citigroup has highlighted the growing economic power of Arab Gulf states, awash with money because of high oil prices.
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Sovereign wealth funds' might grows
Nov 27 2007 3:11PM (CT)
CAIRO, Egypt (AP) - The decision by the world's largest sovereign wealth fund to invest billions in struggling Citigroup has highlighted the growing economic power of Arab Gulf states, awash with money because of high oil prices.
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Sovereign wealth funds' might grows
Nov 27 2007 3:11PM (CT)
CAIRO, Egypt (AP) - The decision by the world's largest sovereign wealth fund to invest billions in struggling Citigroup has highlighted the growing economic power of Arab Gulf states, awash with money because of high oil prices.
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Consumer confidence tumbles in November
Nov 27 2007 2:54PM (CT)
NEW YORK (AP) - With Christmas only a month away, American consumers became more pessimistic about the economy in November, sending a widely watched barometer of confidence to the lowest level in two years amid worries about rising fuel costs and a housing market slump.
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Consumer confidence tumbles in November
Nov 27 2007 2:54PM (CT)
NEW YORK (AP) - With Christmas only a month away, American consumers became more pessimistic about the economy in November, sending a widely watched barometer of confidence to the lowest level in two years amid worries about rising fuel costs and a housing market slump.
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Consumer confidence tumbles in November
Nov 27 2007 2:54PM (CT)
NEW YORK (AP) - With Christmas only a month away, American consumers became more pessimistic about the economy in November, sending a widely watched barometer of confidence to the lowest level in two years amid worries about rising fuel costs and a housing market slump.
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Consumer confidence tumbles in November
Nov 27 2007 2:54PM (CT)
NEW YORK (AP) - With Christmas only a month away, American consumers became more pessimistic about the economy in November, sending a widely watched barometer of confidence to the lowest level in two years amid worries about rising fuel costs and a housing market slump.
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Consumer confidence tumbles in November
Nov 27 2007 2:54PM (CT)
NEW YORK (AP) - With Christmas only a month away, American consumers became more pessimistic about the economy in November, sending a widely watched barometer of confidence to the lowest level in two years amid worries about rising fuel costs and a housing market slump.
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Consumer confidence tumbles in November
Nov 27 2007 2:54PM (CT)
NEW YORK (AP) - With Christmas only a month away, American consumers became more pessimistic about the economy in November, sending a widely watched barometer of confidence to the lowest level in two years amid worries about rising fuel costs and a housing market slump.
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Consumer confidence tumbles in November
Nov 27 2007 2:54PM (CT)
NEW YORK (AP) - With Christmas only a month away, American consumers became more pessimistic about the economy in November, sending a widely watched barometer of confidence to the lowest level in two years amid worries about rising fuel costs and a housing market slump.
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Consumer confidence tumbles in November
Nov 27 2007 2:54PM (CT)
NEW YORK (AP) - With Christmas only a month away, American consumers became more pessimistic about the economy in November, sending a widely watched barometer of confidence to the lowest level in two years amid worries about rising fuel costs and a housing market slump.
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German business confidence, inflation up
Nov 27 2007 1:07PM (CT)
BERLIN (AP) - Business confidence in Germany rose in November for the first time since April, a closely watched survey showed Tuesday _ defying analyst expectations for Europe's largest economy.
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Barclays says it can meet expectations
Nov 27 2007 12:13PM (CT)
LONDON (AP) - Barclays Group PLC, which this month announced a $2.7 billion writedown tied to the U.S. subprime mortgage market collapse, said Tuesday that it still expects to post earnings this year in line with market expectations.
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S&P: 3Q home prices fall by 4.5 percent
Nov 27 2007 9:52AM (CT)
NEW YORK (AP) - U.S. home prices fell 4.5 percent in the third quarter from a year earlier, the sharpest drop since Standard & Poor's began its nationwide housing index in 1987 and another sign that the housing slump is far from over, the research group said Tuesday.
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S&P: 3Q home prices fall by 4.5 percent
Nov 27 2007 9:52AM (CT)
NEW YORK (AP) - U.S. home prices fell 4.5 percent in the third quarter from a year earlier, the sharpest drop since Standard & Poor's began its nationwide housing index in 1987 and another sign that the housing slump is far from over, the research group said Tuesday.
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Toyota, Japanese carmakers raise output
Nov 27 2007 8:01AM (CT)
TOKYO (AP) - Japan's top automaker Toyota Motor Corp. said Tuesday its global production climbed 14.4 percent in October, moving it closer to overtaking General Motors of the U.S. as the world's biggest automaker.
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Dollar edges up on euro
Nov 27 2007 7:07AM (CT)
BERLIN (AP) - The dollar gained on the euro Tuesday after last week's record lows as investors looked for clues as to what the European Central Bank might due with interest rates next week.
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Site chosen for Universal park in SKorea
Nov 27 2007 4:19AM (CT)
SEOUL, South Korea (AP) - Developers of a Universal Studios theme park and resort in South Korea said Tuesday they have agreed on a site for the $3.1 billion project just south of Seoul they hope will serve as a draw for visitors from nearby China.
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Worker: 'Toyota way' ignored at factory
Nov 27 2007 1:27AM (CT)
TOKYO (AP) - The California auto worker who is suing Toyota and others in a whistleblower lawsuit said Tuesday she was merely carrying out the quality-conscious "Toyota way" in spotting defects when managers cracked down on her efforts and demoted her.
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