AP - Ignoring Alfred E. Neuman’s mantra of “What, me worry?,” Circuit City Stores Inc. temporarily banished the irreverent MAD Magazine from its store’s shelves for poking fun at the consumer electronics retailer.
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Reuters - The U.S. Federal Reserve on Tuesday is expected to hold interest rates steady as dismal housing markets and tight credit weigh on the economy, while it signals lingering inflation concerns despite lower oil prices.
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Reuters - Merrill Lynch & Co Inc Chief Executive John Thain said Monday if the company loses more money, it may have to raise more capital, leaving the door open to further capital raises if markets deteriorate.
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Reuters - Orix Corp (8591.T), Japan’s largest leasing company, and consumer credit firm Credit Saison (8253.T) are in merger talks, financial sources close to the matter said on Tuesday, seeking a deal to form a $106 billion finance group.
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Reuters - More banks and financial institutions are likely to face insolvency and need bailouts before the global financial crisis is over, according to former Federal Reserve chairman Alan Greenspan.
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Reuters - One of Yahoo Inc’s largest and most critical shareholders, Capital Research Global Investors, said on Monday it asked for a probe of last week’s shareholder vote, a move that calls into question the strong showing for Chief Executive Jerry Yang.
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Reuters - At least four brokerages widened their 2008 loss estimates for General Motors Corp , saying the No. 1 U.S. automaker’s disappointing second-quarter results emphasized the need for it to raise cash to combat a severe U.S. downturn.
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Reuters - Oil fell below $120 a barrel on Monday, pressured by evidence of rising OPEC output in the midst of declining demand in the United States and Europe.
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Investor’s Business Daily - Foreign bond and currency ETFs were a good bet in July, even as the U.S. stock markets and the dollar have rallied.
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AP - The troubled chain Boscov’s Department Store LLC filed for Chapter 11 bankruptcy protection on Monday, becoming the latest victim of a harsh consumer spending environment.
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