Archive for the 'Business' Category

Circuit City defends its sense of humor (AP)

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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Monday, August 4th, 2008

Fed seen holding rates steady as growth stumbles (Reuters)

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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Monday, August 4th, 2008

Merrill’s Thain says could be more capital raises: report (Reuters)

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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Monday, August 4th, 2008

Orix and Credit Saison in $106 billionmerger talks (Reuters)

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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Monday, August 4th, 2008

Greenspan says more banks, institutions may founder (Reuters)

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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Monday, August 4th, 2008

Big holder Capital Research wants Yahoo vote probe (Reuters)

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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Monday, August 4th, 2008

Analysts widen 2008 loss estimates for GM (Reuters)

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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Monday, August 4th, 2008

Oil falls below $120 as OPEC output rises (Reuters)

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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Monday, August 4th, 2008

Foreign Currency ETFs Have A Good Month (Investor’s Business Daily)

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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Monday, August 4th, 2008

Retailer Boscov’s seeks bankruptcy protection (AP)

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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Monday, August 4th, 2008