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Can Obama save the auto industry?
12/5/2008 4:57:40 AM by adeal
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Senate and House hearings that began on Thursday could make or break the American auto industry and pose a major test of whether the White House and the incoming Obama administration can work together to save the companies from collapse. The stakes are extraordinary, with two of Detroit’s Big Three ....(GetMarketNews)
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AT&T to slash 12,000 jobs, cut expenses
12/5/2008 4:43:09 AM by adeal
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The reductions amount to about 4 percent of the workforce, Dallas-based AT&T said yesterday in a statement. The company plans to record $600 million in expenses for severance this quarter. The reductions would bring AT&T’s total job cuts to more than 25,000 this year. The carrier and its smaller com ....(GetMarketNews)
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Unions Kill the Auto Industry
12/4/2008 5:22:20 AM by adeal
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Even though I just bought a tank of gas with 20 bucks, the economy isn’t doing too well. Banks are being strangled by foreclosures and failed mortgages and unemployment rates are spiking. Businesses, known to be very big proponents of free market, get-off-my-back politics, are now begging the legisl ....(GetMarketNews)
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ECB poised to cut rates sharply after Sweden shock
12/4/2008 5:12:51 AM by adeal
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The European Central Bank is expected to cut interest rates sharply on Thursday after a huge Swedish rate reduction stunned financial markets, stoking speculation of a record euro zone move. ECB policymakers will be armed with a new set of in-house forecasts likely to confirm that the euro zone econ ....(GetMarketNews)
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Nifty, Sensex close 5% up; realty, metal surge
12/4/2008 5:11:43 AM by adeal
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MUMBAI: Equities witnessed a sharp rally Thursday as traders took positions in sectors like infrastructure, capital goods and oil&gas stock. Rate cut expectations and easing inflation lifted sentiments. Bombay Stock Exchange’s Sensex closed at 9219.84, up 472.41 points or 5.40 per cent. The 30-share ....(GetMarketNews)
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Rogers sets up committee for CEO search
12/3/2008 4:20:36 AM by adeal
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With the death of Ted Rogers, the reins that control Rogers Communications Inc. will for now remain in the hands of Alan Horn who has been serving as acting chief executive officer since the beginning of last month.Mr. Horn, 56, has been chairman of RCI, the cable TV, wireless, sports and media cong ....(GetMarketNews)
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Fall in palm oil price may lead to industry consolidation
12/3/2008 4:18:14 AM by adeal
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A dramatic fall in palm oil prices may provide an opportunity for plantation giants to add to their holdings, reports Reuters. Palm oil prices have tumbled nearly 70 percent since reaching a high of 4,486 ringgit ($1,239) per ton in March. Closing at 1590 ringgit ($437) Tuesday, prices are now near ....(GetMarketNews)
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Once again, OPEC has killed the goose that lays the golden egg
12/3/2008 4:13:57 AM by adeal
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History is repeating itself, at least in the oil market.Once again, a miscalculation by OPEC -- probably motivated by greed or rational self interest carried to its logical (but foolish) extension -- has resulted in almost the same set of market conditions that resulted when OPEC made the same mista ....(GetMarketNews)
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OPEC considers third supply cut to defend oil price
11/28/2008 6:48:46 AM by adeal
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OPEC prepared on Friday to consider its third output cut in as many months to defend oil prices hit hard by a recessionary slump in world fuel demand. The Organization of the Petroleum Exporting Countries has been caught off guard by an accelerating decline in energy consumption in the West that has ....(GetMarketNews)
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GM restructuring plan reveals lost sales, high costs
11/28/2008 6:46:04 AM by adeal
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General Motors Corp. (NYSE: GM) will need to assemble a compelling restructuring plan if it hopes to get the $12 billion it seeks from the U.S. Last week I proposed a six step plan -- part of which suggested GM should get rid of unprofitable lines such as the Saturn, Saab and Pontiac brands and dump ....(GetMarketNews)
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