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A collection of news and information related to Economy published by Tribune Company sources.
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Oil falls below $87 in Asia on fears credit crisis will trigger slowdown, cut crude demand
Associated Press WriterSINGAPORE (AP) _ Oil prices fell below $87 a barrel Wednesday in Asia on investor concerns that the credit crisis that began in the U.S. will trigger a prolonged global economic slowdown and hurt crude demand. Light, sweet crude for November delivery was...Tags: Natural Resources, Upstream Oil and Gas Activities, Public Finance, New York Mercantile Exchange, Energy Resources
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Dow falls 508 points
Associated PressFrantically trying to stop the bleeding on Wall Street, the Federal Reserve took a first-time step yesterday to get cash directly to businesses and hinted that interest rates could come down soon. Stocks continued their free fall anyway and hit new five-...Tags: Central Bank, Ben Bernanke, Debt Market, Government, National Government
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ENERGY: Crude Prices Rise, End Four-Day Decline
NEW YORK — Oil prices swung higher Tuesday, snapping a four-day plunge as investors temporarily halted their frantic selling to see whether the government's sweeping economic bailout can stem a widening global downturn. Light, sweet crude for...Tags: AAA, Petroleum Industry, Wright Express Corporation, Commodity Markets, New York Mercantile Exchange
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''The outlook for economic growth has worsened.'' BEN BERNANKE Fed chairman Fed acts to jump-start markets
Of The Associated PressThe Federal Reserve moved swiftly to break through a credit clog that is imperiling the economy, saying Tuesday it would buy massive amounts of short-term debt and hinting that it may cut interest rates. Wall Street was unimpressed. The Dow Jones...Tags: Investments, Central Bank, National Government, Business Institutions, Financial Markets
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TURMOIL PROLONGS MISERY
The Associated Press-508.39: After Bernanke warns of long process, Dow plummets 996.23: The S&P 500 drops below 1,000 for first time in 5 years WASHINGTON -- Frantically trying to stop the bleeding on Wall Street, the Federal Reserve took a first-time step Tuesday to get...Tags: Sales, Ben Bernanke, Debt Market, Government, National Government
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Iceland on the brink of being the 1st national bankruptcy of global economic meltdown
AP Business WriterREYKJAVIK, Iceland (AP) _ This volcanic island near the Arctic Circle is on the brink of becoming the first "national bankruptcy" of the global financial meltdown. Home to just 320,000 people on a territory the size of Kentucky, Iceland has formidable...Tags: Credit Ratings, Metal and Mineral, Energy Resources, Financially Distressed Companies, Bankruptcy
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Wall Street retreats as concerns about financials overshadow Fed plan to buy corporate debt
AP Business WriterNEW YORK (AP) _ The misery worsened on Wall Street Tuesday, with stocks piling on losses late in the session and bringing the two-day decline in the Dow Jones industrials to more than 875 points amid escalating worries about credit markets and the...Tags: Credit Ratings, American International Group, Central Bank, Mitsubishi UFJ Financial Group Incorporated, Metal and Mineral
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Stocks take a beating by worried investors
The misery worsened on Wall Street Tuesday, with stocks piling on losses late in the session and bringing the two-day decline in the Dow Jones industrials to more than 875 points amid escalating worries about credit markets and the financial sector....Tags: Credit Ratings, Ben Bernanke, Metal and Mineral, New York Mercantile Exchange, Gold and Precious Material
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McCain proposes $300 billion plan to buy up bad mortgages to protect homeowners
Associated Press WriterWASHINGTON (AP) _ Republican presidential candidate John McCain announced Tuesday he would order the federal government to spend $300 billion in federal funds to buy up bad home mortgages and allow financially troubled homeowners to keep their houses....Tags: Henry Paulson, Executive Branch, Mortgages, Barack Obama, Freddie Mac
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U.S. woes undermine region's recent strides
Chicago Tribune correspondentCARACAS, Venezuela — Latin America has seen its share of economic train wrecks. Bolivia once saw inflation top 25,000 percent. The Mexican peso needed a U.S. bailout. Customers rioted in Argentina when they lost their life savings in failed banks....Tags: Hugo Chavez, Government, Financial Markets, Deutsche Bank AG, National Government
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Outlook dimmer, Bernanke warns
From Chicago Tribune news servicesFederal Reserve Chairman Ben Bernanke warned Tuesday that the financial crisis has not only darkened the country's current economic performance but also could prolong the pain. The Fed leader's gloomy assessment appeared to open the door wider to an...Tags: Prices, Inflation and Deflation, Energy, Ben Bernanke, Federal Reserve
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Deerfield Beach to stagger districts by cutting two terms
Staff reportCommissioners elected in March from Districts 1 and 2 will serve only two years in a change that begins staggered terms for city representatives. Lots for the two-year terms were drawn during the city meeting Tuesday by Commissioner Pam Militello and...Tags: Consumer Confidence, Deerfield, Regional Authority
Oct 8, 2008
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Oct 7, 2008
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Oct 8, 2008
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