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Mortgage crisis forces big cuts at WaMu
Dec 10 2007 10:07PM (CT)
SEATTLE (AP) - Washington Mutual Inc., the nation's largest savings and loan, said Monday that problems in the mortgage and credit markets are forcing it to close offices, lay off more than 3,000 workers and set aside up to $1.6 billion for loan losses in the fourth quarter.
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Media mogul Conrad Black gets 6 1/2 years
Dec 10 2007 9:30PM (CT)
CHICAGO (AP) - Former newspaper mogul Conrad Black was sentenced Monday to 6 1/2 years in prison, far less than sought by prosecutors, for swindling shareholders in his Hollinger media empire out of $6 million.
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Media mogul Conrad Black gets 6 1/2 years
Dec 10 2007 9:30PM (CT)
CHICAGO (AP) - Former newspaper mogul Conrad Black was sentenced Monday to 6 1/2 years in prison, far less than sought by prosecutors, for swindling shareholders in his Hollinger media empire out of $6 million.
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Media mogul Conrad Black gets 6 1/2 years
Dec 10 2007 9:30PM (CT)
CHICAGO (AP) - Former newspaper mogul Conrad Black was sentenced Monday to 6 1/2 years in prison, far less than sought by prosecutors, for swindling shareholders in his Hollinger media empire out of $6 million.
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BofA shuts massive institutional fund
Dec 10 2007 8:00PM (CT)
CHARLOTTE, N.C. (AP) - Bank of America Corp. is liquidating a privately placed, enhanced institutional cash fund amid withering losses on complex asset-backed securities, the bank said Monday.
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MBIA to get $1 billion capital infusion
Dec 10 2007 5:58PM (CT)
NEW YORK (AP) - Bond insurer MBIA Inc. said Monday it will receive a cash infusion of up to $1 billion from private equity firm Warburg Pincus to help bolster its capital reserves as it braces for mounting losses and writedowns in the fourth quarter.
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Treasurys fall ahead of Fed decision
Dec 10 2007 5:51PM (CT)
NEW YORK (AP) - Treasury prices dropped Monday as bond market investors tried to gauge Federal Reserve monetary policy a day ahead of a critical Fed decision on rates.
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Petro-Canada signs deal with Libyan co.
Dec 10 2007 5:50PM (CT)
TORONTO (AP) - Canada's third largest oil and gas company, Petro-Canada, signed a $7 billion deal Monday with Libya's state-run National Oil Corp. to invest in exploration in the North African nation.
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Petro-Canada signs deal with Libyan co.
Dec 10 2007 5:50PM (CT)
TORONTO (AP) - Canada's third largest oil and gas company, Petro-Canada, signed a $7 billion deal Monday with Libya's state-run National Oil Corp. to invest in exploration in the North African nation.
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McDonald's monthly sales up 8.2 percent
Dec 10 2007 5:28PM (CT)
OAK BROOK, Ill. (AP) - McDonald's Corp., the world's No. 1 hamburger chain, said Monday that global same-store sales rose 8.2 percent in November.
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Japanese drugmaker deals for MGI Pharma
Dec 10 2007 5:25PM (CT)
TOKYO (AP) - Japanese drugmaker Eisai Co. said Monday it will buy U.S. biopharmaceutical company MGI Pharma Inc. for $3.9 billion in cash in a move aimed at boosting its cancer drug business and sustain sales growth.
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Subprimes force UBS to write down $10B
Dec 10 2007 5:21PM (CT)
ZURICH, Switzerland (AP) - UBS AG will write off a further $10 billion in losses from the U.S. subprime lending market, the Swiss bank said Monday, and raise billions in capital through share sales to Singapore and an unidentified investor in the Middle East.
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Subprimes force UBS to write down $10B
Dec 10 2007 5:21PM (CT)
ZURICH, Switzerland (AP) - UBS AG will write off a further $10 billion in losses from the U.S. subprime lending market, the Swiss bank said Monday, and raise billions in capital through share sales to Singapore and an unidentified investor in the Middle East.
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Gold, silver advance as dollar drops
Dec 10 2007 5:06PM (CT)
NEW YORK (AP) - Gold prices climbed Monday to their highest levels so far this month as expectations for lower U.S. interest rates weighed on the dollar and boosted the appeal of precious metals.
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Fed expected to lower key rate
Dec 10 2007 4:51PM (CT)
WASHINGTON (AP) - Federal Reserve policymakers are widely expected to slice a key interest rate for a third time this year to prevent troubles in the housing and credit markets from sinking the economy.
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Oil falls on view demand is weakening
Dec 10 2007 4:06PM (CT)
NEW YORK (AP) - Oil futures fell Monday, reversing course as concerns about falling demand and rising supplies offset earlier anticipation about an interest rate cut.
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Realtors' forecast bucks common wisdom
Dec 10 2007 12:34PM (CT)
WASHINGTON (AP) - Bucking conventional wisdom, a trade group for real-estate agents on Monday said the battered housing market is on the verge of stabilizing and inched-up its outlook for 2007 and 2008 home sales.
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France's Societe Generale bails out SIV
Dec 10 2007 12:11PM (CT)
PARIS (AP) - Societe Generale SA will bail out its only structured investment vehicle by taking on $4.3 billion of assets, the French bank said Monday.
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France's Societe Generale bails out SIV
Dec 10 2007 12:11PM (CT)
PARIS (AP) - Societe Generale SA will bail out its only structured investment vehicle by taking on $4.3 billion of assets, the French bank said Monday.
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Trian raises stake in Cadbury
Dec 10 2007 11:56AM (CT)
LONDON (AP) - Cadbury Schweppes PLC, the maker of Dairy Milk chocolate, said Monday that Nelson Peltz's Trian Group raised its stake in the business to 4.5 percent.
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China lets foreign investors buy more
Dec 10 2007 10:28AM (CT)
SHANGHAI, China (AP) - China plans to triple the limit for purchases of local shares by foreign institutional investors, the government said Monday, just ahead of key trade talks with the United States.
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China lets foreign investors buy more
Dec 10 2007 10:28AM (CT)
SHANGHAI, China (AP) - China plans to triple the limit for purchases of local shares by foreign institutional investors, the government said Monday, just ahead of key trade talks with the United States.
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Study finds wide gaps in Asian incomes
Dec 10 2007 10:00AM (CT)
MANILA, Philippines (AP) - Brunei topped the list of Asia's richest economies by per capita income and Hong Kong emerged as the biggest spender, according to a study released Monday.
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Study finds wide gaps in Asian incomes
Dec 10 2007 10:00AM (CT)
MANILA, Philippines (AP) - Brunei topped the list of Asia's richest economies by per capita income and Hong Kong emerged as the biggest spender, according to a study released Monday.
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Stock futures rise amid rate cut hopes
Dec 10 2007 9:15AM (CT)
NEW YORK (AP) - Wall Street appeared headed to a slightly higher open Monday as expectations for an interest rate cut from the Federal Reserved helped offset another round of subprime mortgage-related losses.
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Lafarge buying Egypt's Orascom Cement
Dec 10 2007 7:50AM (CT)
PARIS (AP) - Lafarge SA, the world's largest cement maker, said Monday it is buying Egypt's Orascom Construction Industries Cement Group for about $12.9 billion, gaining access to a region that is undergoing a construction boom fed by oil profits.
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Lafarge buying Egypt's Orascom Cement
Dec 10 2007 7:50AM (CT)
PARIS (AP) - Lafarge SA, the world's largest cement maker, said Monday it is buying Egypt's Orascom Construction Industries Cement Group for about $12.9 billion, gaining access to a region that is undergoing a construction boom fed by oil profits.
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Wineries fight state shipping laws
Dec 10 2007 7:17AM (CT)
RINGOES, N.J. (AP) - Unionville Vineyards plans to expand by planting more pinot noir and adding Rhone varietals next year, but winemaker Cameron Stark knows he's fighting an uphill battle.
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China's Sinopec, Iran ink Yadavaran deal
Dec 10 2007 7:12AM (CT)
SHANGHAI, China (AP) - China's biggest refiner, Sinopec, and Iran have signed a $2 billion agreement on developing the Yadavaran oil field, reports said Monday, firming Beijing's business links with Tehran despite U.S. calls for sanctions over Iran's nuclear program.
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US, China say must work together
Dec 10 2007 7:10AM (CT)
BEIJING (AP) - The United States and China, with increasingly dependent economies, have to work together to fight protectionist sentiment in both countries, officials from the countries said Monday.
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US, China say must work together
Dec 10 2007 7:10AM (CT)
BEIJING (AP) - The United States and China, with increasingly dependent economies, have to work together to fight protectionist sentiment in both countries, officials from the countries said Monday.
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US, China say must work together
Dec 10 2007 7:10AM (CT)
BEIJING (AP) - The United States and China, with increasingly dependent economies, have to work together to fight protectionist sentiment in both countries, officials from the countries said Monday.
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US, China say must work together
Dec 10 2007 7:10AM (CT)
BEIJING (AP) - The United States and China, with increasingly dependent economies, have to work together to fight protectionist sentiment in both countries, officials from the countries said Monday.
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US, China say must work together
Dec 10 2007 7:10AM (CT)
BEIJING (AP) - The United States and China, with increasingly dependent economies, have to work together to fight protectionist sentiment in both countries, officials from the countries said Monday.
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US, China say must work together
Dec 10 2007 7:10AM (CT)
BEIJING (AP) - The United States and China, with increasingly dependent economies, have to work together to fight protectionist sentiment in both countries, officials from the countries said Monday.
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US, China say must work together
Dec 10 2007 7:10AM (CT)
BEIJING (AP) - The United States and China, with increasingly dependent economies, have to work together to fight protectionist sentiment in both countries, officials from the countries said Monday.
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US, China say must work together
Dec 10 2007 7:10AM (CT)
BEIJING (AP) - The United States and China, with increasingly dependent economies, have to work together to fight protectionist sentiment in both countries, officials from the countries said Monday.
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US, China say must work together
Dec 10 2007 7:10AM (CT)
BEIJING (AP) - The United States and China, with increasingly dependent economies, have to work together to fight protectionist sentiment in both countries, officials from the countries said Monday.
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US, China say must work together
Dec 10 2007 7:10AM (CT)
BEIJING (AP) - The United States and China, with increasingly dependent economies, have to work together to fight protectionist sentiment in both countries, officials from the countries said Monday.
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Reuters and IHT team up on business
Dec 10 2007 7:08AM (CT)
LONDON (AP) - Reuters Group PLC said Monday it has signed a deal with the International Herald Tribune to provide the Paris-based newspaper with content for its business section and will share the revenue from advertising.
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Bloomberg seeks less info control in China
Dec 10 2007 5:08AM (CT)
BEIJING (AP) - Information controls are a barrier to social progress and innovation, New York Mayor Michael Bloomberg said in a speech Monday in China, whose communist leaders maintain a firm grip on all media.
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