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June 2009 - Posts
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Chrysler's former financial arm said Tuesday that it will reduce its work force by 9 percent, or more than 300 employees, as it restructures operations Read More...
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Iraq's hopes for an oil-revenue fueled recovery suffered a blow as the foreign oil companies greeted the country's first oil auction in over 30 years with Read More...
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True, the new program offers to pay $3,500 or $4,500 for old, gas-guzzling cars and trucks, but while the government's plan may benefit some buyers, it's Read More...
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A judge has revoked bond for Texas financier R. Allen Stanford, who is charged with swindling investors out of $7 billion. Read More...
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A hedge fund manager being sued over his role the Bernard Madoff scandal is selling off $310 million worth of art. Read More...
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A Ticketmaster Entertainment Inc. subsidiary has reached an agreement with the Illinois Attorney General after complaints of overly high-priced tickets Read More...
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The Justice Department says Swiss bank UBS AG must reveal names of thousands of suspected American tax cheats because the bank violated U.S. law. Read More...
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Wal-Mart, which was once criticized for less than generous employee benefits, has embraced President Barack Obama's call for requiring all large employers Read More...
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Americans — whose hope for the economy had been rising since March — unexpectedly lost faith this month, pushing down a widely watched barometer. Read More...
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The U.S. Treasury on Tuesday sent Congress proposed legislation to create a new regulatory agency with sweeping powers to write and enforce tough new consumer Read More...
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This morning, The Wall Street Journal hosted a breakfast with uber-investor George Soros, the man who "broke the Bank of England" by betting against the Read More...
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Unemployment rates rose in all the largest U.S. metropolitan areas for the fifth straight month in May. Read More...
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The Conference Board's U.S. consumer confidence index fell in June to 49.3 from a downwardly revised 54.8 in May, the private business research group reported Read More...
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There is a clear trend U.S. home prices declines are moderating — another sign the beleaguered housing market is stabilizing, according to data released Read More...
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Sears said Tuesday that it plans to offer a buyer protection program for its home appliances to help consumers who lose their jobs during the recession Read More...
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Monday brought some closure to Bernard Madoff's victims, a scheme that was exposed in part because the plummeting stock market led investors to demand Read More...
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In all the effusive cheering over telecommuting, many managers have overlooked a simple fact: Some of us are simply not wired for the life of the digital Read More...
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A person familiar with the investigation into disgraced financier Bernard Madoff says 10 more people will be charged by the time the probe is complete Read More...
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Hoping for a quick exit from Chapter 11, GM will on Tuesday ask a bankruptcy judge to approve its plan to refashion itself as a leaner automaker owned Read More...
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Politicians are vowing to take a hard line on executive pay without actually imposing limits. Experts say that's because such pay caps prove unpopular, Read More...
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As Americans get ready to celebrate July Fourth, many merchants already have dismissed summer as a washout. Read More...
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Ford's top sales analyst said Monday U.S. auto sales may have stopped their month to month declines in June and could be down less than 30 percent for Read More...
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The rise of rental or borrowing services catering from everyone from fashionistas to environmentalists has spawned a marketing buzzword: the "transumer. Read More...
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As Americans get ready to celebrate July Fourth, many merchants already have dismissed summer as a washout. Read More...
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Apple Inc. says co-founder and CEO Steve Jobs is back at work after a five-and-a-half-month medical leave, during which he received a liver transplant Read More...
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Porsche has rejected Volkswagen AG’s bid to take a 49 percent stake in the sports car maker, a company spokesman said Monday. Read More...
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Texas financier R. Allen Stanford could find out today if he will be freed on a bond of half a million dollars or stay locked up until his trial. Read More...
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Today, we're expected to get to say goodbye to Bernard Madoff, convicted Ponzi schemer extraordinaire. Read More...
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Despite the downturn, employers don’t seem to be skimping on their health and wellness initiatives. Read More...
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Six months after the scandal came to light, Bernard Madoff's punishment for his multibillion-dollar ponzi scheme could be a de facto life sentence. He Read More...
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The price of a gallon of gasoline held steady over the past two weeks, at $2.66 for a gallon of regular unleaded. Read More...
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The government's stimulus plan was supposed to flood the economy with cash to help end the recession. But so far, spending is just a trickle. The Answer Read More...
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For Mini, the maker of sporty — if eccentric — pint-sized hatchbacks, landing at the bottom of another closely watched vehicle quality study this week Read More...
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Markets have replaced big gains with little change. Read More...
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Prices for lobster plunged last year to levels not seen in 20 years, leading Turner and a growing number of other lobstermen to sell from the backs of Read More...
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General Motors Corp. has agreed to take on responsibility for future product liability claims, removing what could have been a sizable roadblock on the Read More...
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Repaying a student loan could soon be a little less painful. Read More...
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Charles Ponzi himself was the biggest beneficiary of his scams. But it now appears that Bernard Madoff may not have benefited the most from his version Read More...
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As soon as they opened their shops, wedding planners Kara Underwood and Kirstin Martin encountered a crisis neither could have foreseen: each other. Read More...
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Wall Street's biggest and most brazen crook, Bernard Madoff, will leave his jail cell to hear his punishment on Monday. For his victims, even a lifetime Read More...
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China's planning agency is likely to reject a Chinese company's bid to acquire GM's Hummer unit, in part because the gas guzzlers conflict with Beijing's Read More...
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Michael Jackson’s career will skyrocket in the months and years ahead, giving the troubled entertainer in death the comeback he longed for in life. Read More...
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Jeff Arnett takes a sip of Jack Daniel's Old No. 7, just enough for it to settle on his tongue, and then — spits it out. After all, he is at work. Read More...
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Michael Jackson's death has led to skyrocketing sales of his music and videos. Read More...
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GM will use an idled assembly plant in Orion Township, Mich., and a parts stamping facility in Pontiac, Mich., to build small and compact cars, a move Read More...
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As many parents know, applying for federal student aid is a nightmare of paperwork, so much so that some hire financial-aid consultants to do it for them Read More...
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Australia's Qantas Airways Ltd. said Friday it had canceled orders for 15 Boeing 787s and delayed the delivery of a further 15 aircraft due to turbulent Read More...
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Michael Jackson's assets included a half-interest in a music publishing company worth an estimaed $500 million. Settle his estate could trigger a huge Read More...
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U.S. consumer confidence rose in June to the highest since February 2008, as expectations grew that the worst economic recession since the Great Depression Read More...
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Households pushed their savings rate to the highest level in more than 15 years in May amid a big boost in incomes from the government's stimulus program Read More...
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GM's bankruptcy and federal bailout are triggering a small but vocal reaction from conservative pundits calling for an outright boycott of "Government Read More...
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Yahoo Chief Executive Carol Bartz echoed the turnaround promises of her predecessors as she presided over the first shareholder meeting since her hiring Read More...
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LaGuardia Airport is the smallest of the three major airports in the NYC area, with just two main runways. Planes often sit in long lines on the tarmac, Read More...
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More than three decades after they were booted from the country by Saddam Hussein, international oil companies are poised for a return to Iraq. Read More...
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Treasury Secretary Timothy Geithner said the administration will send legislative language to Congress in the next few days to create a consumer financial Read More...
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A bankruptcy judge ruled Thursday that General Motors Corp. can have access to its full $33.3 billion in bankruptcy financing. Read More...
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The 100-year-old Woolworths brand was resurrected on Thursday as an online store almost six months after the retailing stalwart went bankrupt and shut Read More...
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Federal Reserve Chairman Ben Bernanke told Congress Thursday he didn’t pressure Bank of America into acquiring Merrill Lynch in a deal that ultimately Read More...
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Billionaire R. Allen Stanford arrived at a federal courthouse as he faces charges of fraud and conspiracy related to allegations that he swindled investors Read More...
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The economy tumbled at a 5.5 percent pace in the first quarter, but appears to be doing better now. Read More...
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The government says the number of people filing first-time claims for jobless benefits increased last week, partly due to layoffs related to the end of Read More...
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The government says the number of people filing first-time claims for jobless benefits increased last week, partly due to layoffs related to the end of Read More...
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The ripple effect of losing a major industry can be substantial and hard to reverse, especially if not addressed quickly. Read More...
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Grassroots strategies to reclaim distressed neighborhoods are taking hold in cities across the country, including Cleveland, Philadelphia, Pittsburgh and Read More...
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China's Sinopec will acquire oil explorer Addax Petroleum for $7.2 billion, flexing some of the country's economic clout in what would be the largest overseas Read More...
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The world's population of millionaires shrank dramatically last year as the global economic crisis took its toll on the wealthy, according to a new report Read More...
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Federal regulators on Wednesday proposed tightened rules for money-market mutual funds that will require them to hold a reserve of assets that could be Read More...
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Orders to U.S. factories for manufactured goods from computers to aircraft surged in May for a second straight month. Read More...
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Using colorful bras donated by Victoria's Secret, a group of 26 mostly Saudi women completed the first course of its kind in the kingdom — how to fit, Read More...
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Pizza Hut's recent branding debacle highlights exactly what can go wrong when a company spews too much marketing corporatese. Read More...
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Billionaire Warren Buffett says there are a lot of economic excesses to be wrung out, and that process is still under way. Read More...
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Apple Inc CEO Steve Jobs underwent a liver transplant at a Tennessee hospital and has “an excellent prognosis”, the hospital that performed the operation Read More...
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With signs the economy is improving but still fragile, Fed policymakers are considering whether to slow programs intended to drive down rates on mortgages Read More...
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The government says sales of new homes fell slightly last month, in another sign that the housing market’s recovery is likely to be gradual and prolonged Read More...
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Orders to U.S. factories for big-ticket manufactured goods rose sharply for a second straight month in May, and a key indicator of business investment Read More...
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Citigroup Inc intends to raise employees’ base salaries by as much as 50 percent this year to offset smaller annual bonuses, the New York Times said. Read More...
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It’s the single most common question these days in our Inbox: I’m drowning in credit card debt! What can I do? Here’s our seven-step plan for getting the Read More...
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The cash-only concept is probably a foreign one to most Americans who are addicted to credit. But believe it or not, people can actually survive without Read More...
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A severe U.S. recession will bottom out this year, but any recovery will be weak due to anemic markets and shrunken consumer wealth, the Organization for Read More...
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As homeowners fall behind on payments, they enter limbo waiting for their banks to foreclose. Read More...
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According to a new report from TrimTabs, corporate insiders bought less and sold more in April, May and June alike. So far this month, insiders at S&P Read More...
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Nissan Motor Co. said Tuesday its electric vehicles will be affordable, setting sights on the potentially lucrative market with a plan to mass produce Read More...
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General Motors Corp. has notified its U.S. white-collar workers that it plans to cut about 4,000 more jobs by the end of the year. Read More...
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Long-simmering economic tensions between the U.S. and China boiled over Tuesday as the Obama administration filed its first unfair-trade case against Beijing Read More...
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The recession steered a new type of customer to Wal-Mart — deeper in the pockets and suddenly looking for bargains. Read More...
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Social-networking site MySpace said it plans to cut 300 jobs, or two-thirds of its overseas work force, in an effort to rein in costs and focus on countries Read More...
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Boeing's fresh delay for its long-awaited Dreamliner — its sixth in two years — could not come at a worse time for the planemaker. The delays are forcing Read More...
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President Barack Obama said Fed Chairman Ben Bernanke is doing a fine job under difficult circumstances but he declined to say whether he will reappoint Read More...
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Boeing Co. said Tuesday it has again delayed the first test flight of its long-awaited 787 jetliner, citing a need to reinforce part of the aircraft. Read More...
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Bernard Madoff’s lawyer has told a judge scheduled to sentence the disgraced financier next week that 12 years in prison will be sufficient punishment Read More...
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Sales of previously occupied homes rose modestly from April to May, the third monthly increase this year, but signs of a housing recovery are fragile at Read More...
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Boeing has again delayed the first test flight of its long-awaited 787 jetliner, saying it needs to reinforce part of the aircraft. Read More...
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Toyota shareholders approved the appointment of the company founder's grandson Akio Toyoda as new president Tuesday. Read More...
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The Energy Department is expected to announce Tuesday it is lending money to the Ford Motor Co. and two other automakers from a $25 billion fund to develop Read More...
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The recession's impact on credit card companies has had a ripple effect even on some customers who have always paid their bills on time. Read More...
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Mary Uhazi is drowning in a sea of debt that she built up slowly over more than two decades of easy credit, but now worries she won’t be able to pay off Read More...
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Japan—Tokyo, at least—isn't uniformly hostile to imports. Though fiercely proud of its many cuisines, Japan is surprisingly open to food-related businesses Read More...
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Apple's Steve Jobs is an iconic figure and its fortunes seem to rise and fall with his health. Shouldn't that require greater disclosure about his illness Read More...
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A watering hole in Spain is serving up free beer and tapas to recession-weary customers who insult its bartenders as a way to let off steam. Read More...
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The White House says double-digit unemployment is coming sooner than previously acknowledged. Read More...
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U.S. automakers underestimated the importance consumers placed on fuel efficiency, but new federal standards are expected to help the companies turn a Read More...
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With unemployment likely to hit double digits this year, the Federal Reserve must strike a reassuring message this week. Read More...
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Ford, GM and Chrysler have made strides in new vehicle quality over the last year, but they still lag behind their foreign competitors, according to a Read More...
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Political uncertainty and unrest in the wake of Iran's disputed presidential election are casting a deeper pall on the country's prospects of a near-term Read More...
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Federal regulators have charged a brokerage firm and four people with securities fraud, accusing them of funneling billions of dollars into Bernard Madoff's Read More...
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The CEO of Tesla Motors said Monday that the material cost of the electric car company's Roadster sports car has dropped to about $80,000. Read More...
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Investors love a sure thing, and in this life, it doesn't get more certain than death. Read More...
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A quarter of U.S. employers have eliminated matching contributions to employee 401(k) retirement plans since September to save money amid the economy’s Read More...
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Eastman Kodak Co. announced Monday it’s retiring its most senior film because of declining customer demand in an increasingly digital age. Read More...
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Former Chrysler CEO Lee Iacocca has some advice for the people who are running GM and Chrysler: Get the government out of your business as soon as possible Read More...
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The World Bank has cut its 2009 global growth forecast, saying the world economy will shrink by 2.9 percent and warning about a drop in investment in developing Read More...
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As a new Chrysler emerges from the wreckage of the automaker’s bankruptcy filing, hundreds of former Chrysler dealers are left in limbo, and wrestling Read More...
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There’s been a lot of talk about the merits and drawbacks of empathy lately. But does empathy make sense in any job? A little workplace empathy can go Read More...
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Semi-nationalized firms overseas offer lessons as the United States takes a controlling stake in General Motors. Read More...
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The unemployment rate is projected to continue rising for another year, a prospect that threatens to slow growth, increase poverty and challenge the Democrats' Read More...
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After rising nearly every day for the past two months and climbing 67 percent so far this year, it looks like gasoline prices may be ready to take a break Read More...
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Obama's plan to revamp financial regulation aims to protect borrowers from the confusing and high-risk mortgages that fed a pandemic of delinquencies and Read More...
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Five and a half months ago, word that Steve Jobs would only work part-time as he recovered from a liver transplant would have sent investors into a selling Read More...
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Netflix Inc. is one of the few companies to prosper during the worst U.S. recession in 70 years, but Netflix CEO Reed Hastings is looking over his shoulder Read More...
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In April, soon after Apple gave labels the ability to set different prices for their songs on iTunes, every track on Pink Floyd's "Dark Side of the Moon" Read More...
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Last year's winning bid for lunch with legendary investor Warren Buffett topped $2.1 million, but given the economic turmoil, it's questionable this year's Read More...
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President Obama said current financial rules exploit consumers and he put critics of his proposed overhaul on notice: "While I'm not spoiling for a fight, Read More...
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With the recession easing, Federal Reserve policymakers are unlikely to launch any major new efforts to revive the economy when they meet this week. Read More...
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Americans may have poured money back into stocks this year, but market watchers worry that they aren't spending enough on other things — like clothes, Read More...
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A judge should not delay Bernard Madoff's sentencing even though investigators have yet to determine how much money investors lost in the disgraced financier's Read More...
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Nearly hidden at this year's centenary Paris Air Show is an eclectic collection of historic aircraft has been drawing large crowds of curious onlookers Read More...
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Iran spent nearly twice as much on U.S. imports during President Barack Obama's first months in office as it did during the same period in 2008. Read More...
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While larger, diversified operations will likely survive, industry officials, producers and analysts say many small- and medium-sized pork farmers could Read More...
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Americans have not seen a boring housing market since the last millennium. Read More...
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It's a difficult balancing act. Where some economists see "green shoots" of a recovery, others see yellow weeds of continuing recession. It's hard to know Read More...
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Steve Jobs, the chief executive of Apple Inc., received a liver transplant about two months ago but is expected to return to work later this month, CNBC Read More...
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A group of GM bondholders and some of the automaker's labor unions filed objections to GM's plan to sell its assets to a new company that can emerge from Read More...
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The $1.92 million verdict against a Minnesota woman accused of sharing 24 songs over the Internet could ratchet up the pressure on others to settle with Read More...
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The inventor of the “Magic Fingers Vibrating Bed,” which brought travelers 15 minutes of “tingling relaxation and ease” for a quarter in hotel rooms across Read More...
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Frank Lloyd Wright’s famed, long-endangered Ennis House, which served as a location for films such as “Blade Runner,” is putting out a “for sale” sign Read More...
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The unemployment rates in eight states hit record-highs last month and only two — Nebraska and Vermont — did not report increases. Read More...
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Car shoppers could take advantage of government incentives worth up to $4,500 this summer to send their old gas guzzler to the scrap heap in favor of a Read More...
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Toyota Motor Corp. got 180,000 orders for the new Prius hybrid in Japan in just a month, far surpassing its target of 10,000 vehicles in monthly sales, Read More...
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Chief executives of some banks that received federal money, including Bank of America Corp. and Morgan Stanley, used company jets for their personal use, Read More...
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Housing starts are showing early signs of a turnaround in 33 metro areas, according to the Adversity Index data from msnbc.com and Moody's Economy.com Read More...
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Texas billionaire R. Allen Stanford, chairman of the troubled Stanford Financial Group, is scheduled to appear in federal court Friday on fraud charges Read More...
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Whether it's torching, drowning or handing cars over to chop shops, more owners are looking for ways to unload their vehicles, then filing insurance claims Read More...
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A central issue in the debate over health care overhaul rests on an intriguing finding by researchers: spending more for care doesn't produce better care Read More...
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In pushing for health care reform, President Obama has said problems with the current health care system are a big cause of our economic troubles. Just Read More...
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