AFP - Asian stock markets stumbled Wednesday as fears grew for the future of the “Big Three” US carmakers — a key pillar of the world’s largest economy — which are pleading for a government bailout.
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AP - Woolworths Group PLC’s shares plunged 32 percent Wednesday after the company confirmed it is considering selling its retail business.
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Reuters - China has told police to ensure stability as its economy slows, Japan’s No.3 bank sought to beef up its depleted capital on Wednesday and markets fretted about the stricken U.S. car industry.
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Reuters - BASF , the world’s largest chemicals maker by revenue, cut its profit outlook for 2008 and announced cutbacks in production, citing a “massive” decline in demand in key industries.
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Reuters - Plane maker Boeing Co is reworking its entire production schedule, adding up to 10 weeks to original delivery dates for all 3,734 jetliners in its order backlog as it tries to recover from a machinists’ strike, the Wall Street Journal said, citing people familiar with the situation.
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Reuters - Treasury Secretary Henry Paulson and members of Congress clashed on Tuesday over the best use for the $700-billion financial bailout fund, with lawmakers demanding money to stem a national wave of mortgage foreclosures.
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Reuters - Hewlett-Packard Co posted stronger-than-expected results and forecast full-year profit above Wall Street estimates, underscoring its resilience to an economic crisis that has dragged down other tech companies.
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Reuters - La-Z-Boy Inc , the furniture maker and retailer, reported a wider quarterly loss on Tuesday and saw a decline in sales as cash-strapped consumers curb purchases.
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Reuters - Stocks staged a late fight back on Tuesday after a choppy session in which stronger-than-expected results and outlook from computer maker Hewlett-Packard offset fears that more losses at Citigroup and other banks are yet to come.
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Reuters - Billionaire basketball team owner Mark Cuban responded to U.S. insider trading charges on Tuesday, saying on his website that he had not agreed to keep information about a proposed stock sale confidential.
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