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A collection of news and information related to Economy published by Tribune Company sources.
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Oil rebounds to $89 in Asia after recession fears plunge prices to 8-month low
Associated Press WriterSINGAPORE (AP) _ Oil prices rebounded to around $90 Tuesday in Asia after plunging to an 8-month low Monday on concerns a significant slowdown in global economic growth will undermine demand for crude. "Prices have moved so far, so fast," said David...Tags: New York Mercantile Exchange, Commodity Markets, Foreign Exchange Market, Productivity, Petroleum Industry
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EU mulls plan to guarantee private savings up to euro100,000 across bloc
Associated Press WriterLUXEMBOURG (AP) _ An emergency meeting of European Union finance ministers debated raising guarantees for private savings across the 27-nation bloc on Tuesday in an attempt at a coordinated response to the global financial crisis. Nations struggled...Tags: Central Bank, Budgets and Budgeting, Market and Exchange, European Union
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Iceland nationalizes major bank under emergency law, gets euro4 billion loan from Russia
AP Business WriterREYKJAVIK, Iceland (AP) _ Iceland nationalized its second-largest bank on Tuesday under day-old legislation and negotiated a euro4 billion ($5.4 billion) loan from Russia to shore up the nation's finances amid a full-blown financial crisis. The moves...Tags: Financial Markets, Bankruptcy
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Oil drops below $90 a barrel
Associated PressOil prices plunged below $90 a barrel yesterday, coming within reach of year-ago levels as a widening financial storm spreads overseas and crimps global demand for energy. A barrel of oil has not been this cheap in eight months, suggesting that the...Tags: New York Mercantile Exchange, Commodity Markets, Petroleum Industry, Wright Express Corporation, AAA
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From worse to bad
Last week, Congress approved an emergency plan to rescue the banking sector. That unpleasant but essential step should help keep turmoil in the financial sector from spreading. But hold the champagne. The bailout was designed to avert the worst, not...Tags: New York Mercantile Exchange, Commodity Markets, Cato Corporation, Petroleum Industry, Energy Saving
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Hammering the message home
A quarter century ago in 1983, the banks in Israel were rapidly going down the tubes. For years the banks had been fleecing the public by selling them so-called inflation-protected dollar bonds. I had warned my daughter that the protection was an illusion...Tags: Henry Paulson, John Kerry, Financially Distressed Companies, Auction Service, Court Administration
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Foxwoods Ousts CEO
As it lays off 700 employees, the tribe that owns Foxwoods Resort Casino is starting at the top. The tribal council said Monday that it fired Chief Executive Officer Patricia Irvin after less than a year on the job. Hired in late 2007, Irvin had her last...Tags: Public Employees, Mashantucket, Foxwoods Resort Casino, Tourism and Leisure, Management Change
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Home heating oil prices cooling off
carrie.mason-draffen@newsday.comHomeowners wringing their hands over high home heating oil prices received a sedative of sorts yesterday after crude oil prices slid below $90 a barrel. Oil had risen as high as $147 a barrel in July. Lower crude means lower heating fuel prices, which...Tags: New York Mercantile Exchange, Diesel Fuel, Kerosene, Local Authority, Commodity Markets
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Oil prices continue their downward slide
Of The Associated PressOil prices plunged below $90 a barrel Monday, coming within reach of year-ago levels as a widening financial maelstrom spreads overseas and crimps global demand for energy. A barrel of oil has not been this cheap in eight months, suggesting that the...Tags: New York Mercantile Exchange, Commodity Markets, Petroleum Industry, Wright Express Corporation, AAA
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SKorea's president to propose summit with China, Japan to discuss financial turmoil
SEOUL, South Korea (AP) _ South Korea's ruling party says President Lee Myung-bak will propose a summit with China and Japan to discuss how to cope with the current global economic crises. The Grand National Party says Lee told party leader Park Hee-...Tags: National Government, Lee Myung-bak, Government
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Commodities prices turn lower as financial crisis spreads to Europe, threatens global demand
AP Business WriterNEW YORK (AP) _ Commodities prices tumbled broadly Monday on growing expectations that the financial crisis pummeling world markets will dramatically reduce global demand for energy and raw materials. Gold prices shot up as investors' faith in stock...Tags: Metal, Globalization, New York Mercantile Exchange, Gold and Precious Material, Commodity Markets
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John McCain, Barack Obama campaigns exchange accusations about negative advertising
Associated Press WriterASHEVILLE, N.C. (AP) _ The McCain and Obama presidential campaigns traded accusations of mudslinging Monday in the wake of new ads dredging up infamous events from 20, 30, even 40 years ago. Nancy Pfotenhauer, an adviser to the McCain campaign, said it's...Tags: NBC, Television Industry, John Kerry, Bill Ayers, Weather Underground
Oct 7, 2008
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Oct 6, 2008
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Oct 6, 2008
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Oct 6, 2008
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