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Thu, 08 Jan 2009 16:36:27 -0500

Obama pushes stimulus, warns on recession
WASHINGTON (Reuters) - President-elect Barack Obama warned on Thursday that the U.S. economy could stay mired in recession for years without bold action and he urged lawmakers to work day and night to pass a massive stimulus plan.

Thu, 08 Jan 2009 17:32:15 -0500

Citi backs Senate mortgage bankruptcy reform: senators
WASHINGTON (Reuters) - Financial giant Citigroup Inc has agreed to support a controversial rewrite of U.S. bankruptcy law aimed at helping troubled mortgage borrowers avoid foreclosure, lawmakers said on Thursday.

Thu, 08 Jan 2009 17:31:26 -0500

Israel faces criticism as Gaza toll hits 765
GAZA (Reuters) - Recovery teams ventured into battlegrounds of the Gaza Strip on Thursday to gather bodies from the rubble, and Hamas officials said the Palestinian toll in Israel's 13 day-old offensive rose to 765 dead.

Thu, 08 Jan 2009 17:24:06 -0500

Wal-Mart and other retailers warn after weak December
CHICAGO (Reuters) - Wal-Mart Stores Inc and other top U.S. retailers delivered disappointing December same-store sales and profit warnings on Thursday, sparking fresh recession concerns that hit stock and currency markets.

Thu, 08 Jan 2009 17:26:48 -0500

Madoff had $173 million in checks ready, U.S. says
NEW YORK (Reuters) - Accused swindler Bernard Madoff had signed checks totaling more than $173 million in his office desk ready to be sent out before his arrest, U.S. prosecutors said in court papers on Thursday asking a judge to jail him.

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Thu, 08 Jan 2009 21:35:00 GMT

Downtown L.A. Macy's Is 1 Of 11 Stores Closing - CBS 2 KCAL 9
Macy's says it will close 11 underperforming stores in 9 states - affecting 960 employees - after one of the weakest holiday seasons in years. Stores slated for closure include locations in Los Angeles, West Palm Beach, Nashville and St. Louis, among ...
Thu, 08 Jan 2009 20:52:00 GMT

Ohio State RB Wells to enter NFL draft - Salon
Wells issued a statement Thursday saying the move is in the best interest of his family. Wells fought nagging injuries much of his career at Ohio State. After missing three full games this past season, he returned to rush for 1,197 yards. But he saw ...
Thu, 08 Jan 2009 22:39:00 GMT

Wal-Mart cuts forecast as sales disappoint - Marketwatch
NEW YORK (MarketWatch) -- In a surprise announcement that dragged down the rest of the market, Wal-Mart Stores Inc. cut its fourth-quarter profit forecast after store closures from snowstorms and lower consumer discretionary spending led to a ...
Wed, 07 Jan 2009 06:13:00 GMT

Tulsa rolls over Ball State in wet GMAC Bowl - PR Inside
MOBILE, Alabama (AP) - Tulsa withstood the rain and Ball State to win 45-13 and clinch college football's GMAC Bowl on Tuesday. Tarrion Adams rushed for 207 yards and three touchdowns as the Golden Hurricane finished with a school-record 11 victories ...
Tue, 06 Jan 2009 23:53:00 GMT

Stocks Tumble As Time Warner, Intel, Alcoa Take Dive - Huffingtonpost.com
NEW YORK — A warning from tech giant Intel about poor business conditions and more evidence of rising unemployment left stocks with their biggest losses in a month Wednesday. The news upended some investors' hopes for a speedy economic recovery ...

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Thu, 08 Jan 2009 23:34:34 GMT

Jobless Claims Keep Rising
The number of people continuing to seek unemployment benefits has risen sharply, according to government data released Thursday, indicating that laid-off workers are having a harder time finding new jobs as the ...
Thu, 08 Jan 2009 23:34:22 GMT

Chevron sees lower profit in fourth quarter
Chevron Corp. says its fourth-quarter profit will be significantly lower than the prior quarter because of the big drop in oil prices.
Thu, 08 Jan 2009 23:34:14 GMT

Mortgage rate relief might not last long
Massive efforts by the Federal Reserve to bring down mortgage rates have so far been a success, but homeowners had better act fast because analysts say record low rates could be gone as soon as this summer.
Thu, 08 Jan 2009 23:33:41 GMT

Free calls from Skype could come soon to iPhones
Free calls over Skype, the Internet communications service, could be coming soon to the iPhone.
Thu, 08 Jan 2009 23:33:17 GMT

More Woes for Small-Cap Stocks
An options strategist argues that a hedge-fund industry in retreat will continue to push small-company stocks downward.

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