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A collection of news and information related to Economy published by Tribune Company sources.
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Fed makes emergency move to lend directly to companies; Bernanke hints at rate cuts soon
AP Economics WriterWASHINGTON (AP) _ Frantically trying to stop the bleeding on Wall Street, the Federal Reserve took a first-time step Tuesday to get cash directly to businesses and hinted that interest rates could come down soon. Stocks continued their free fall anyway...Tags: The White House, Ben Bernanke, Central Bank, Government, Financial and Business Services
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Bernanke: More economic pain ahead
The Associated PressFederal 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 chief's more gloomy assessment appeared to open the door wider to...Tags: Ben Bernanke, Federal Reserve, George Bush, Financial Markets, Credit and Debt
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Gold prices rise near $900 as financial worries spur safe-haven buying; crude rebounds
AP Business WriterNEW YORK (AP) _ Gold prices kept rising Tuesday, approaching $900 an ounce after another day of turmoil in financial markets encouraged buying of safe-haven assets. Silver also rose. Investors remained skittish even after the Federal Reserve announced it...Tags: Ben Bernanke, Federal Reserve, Petroleum Industry, Metal and Mineral, Commodity Markets
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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: Real Estate Agents, Energy Resources, Stock Broking, Economic Indicator, Stocks
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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: American International Group, Stock Broking, Commodity Markets, Loans, Money and Monetary Policy
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Oil prices rebound back above $90 a barrel after recession fears plunge prices to 8-month low
AP Business WriterNEW YORK (AP) _ 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: Energy Saving, AAA, Energy Resources, Commodity Markets, New York Mercantile Exchange
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Bernanke: US may be facing prolonged period of economic pain; door opens wider to rate cut
AP Economics WriterWASHINGTON (AP) _ Federal 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 chief's more gloomy assessment appeared to open the...Tags: Ben Bernanke, Federal Reserve, George Bush, Prices, Credit and Debt
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Fed to buy massive amounts of short-term debt
AP Economics WriterThe 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. Fed Chairman Ben Bernanke warned that the...Tags: The White House, Ben Bernanke, Investments, Central Bank, Personal Finance
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Market plunges again Tuesday
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: American International Group, Commodity Markets, Loans, Alcoa Incorporated, Money and Monetary Policy
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Government warns of sharp increase in winter heating costs, especially for homes using oil
Associated Press WriterWASHINGTON (AP) _ Heating U.S. homes with oil this winter will cost a painful $450 more than a year ago, another slap to families already reeling from high gasoline and food costs and fearful of losing their heat because of unpaid bills. Gas, propane and...Tags: Energy Saving, Energy Resources, Natural Gas, Commodity Markets, Weather Reports
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Budget deficit: Record $438 billion
The Swampby Mark Silva For the record, the federal budget defict reached a new record in the 2008 budget year, which ended last week: $438 billion. For the new year, the president's Office of Management and Budget already has projected another......Tags: National Government, State Budgets, Government, Government Debt, $700 Billion Bank Bailout
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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: Petroleum Industry, AAA, Energy Saving, Commodity Markets, New York Mercantile Exchange
Oct 7, 2008
|Story| Associated Press
Oct 7, 2008
|Story| Associated Press
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|Story| Chicago Tribune
Oct 7, 2008
|Story| Newsday
Oct 7, 2008
|Story| Associated Press
Oct 7, 2008
|Blog| Chicago Tribune
Oct 7, 2008
|Story| Baltimore Sun
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