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Bankers Push Against Credit Card Reform

Posted: 05/12/2009 - Bankers are pushing back against a bill that would prohibit arbitrary credit card rate hikes and make it harder for people under 21 to get a card.

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GM Shares Fall To Lowest Since Depression

Posted: 05/12/2009 - Shares of General Motors have tumbled to the lowest since 1933 today. Investors feared dilution of their stock or bankruptcy as the company approaches the June 1 restructuring deadline.

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Median Home Prices Fell Nationwide In 1Q

Posted: 05/12/2009 - Home prices fell in nearly nine out of every 10 U.S. cities in the first quarter. First-time buyers looking for bargains were dominating the market.

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Trade Deficit Widens In March To $27.6 Billion

Posted: 05/12/2009 - The U.S. trade deficit rose in March for the first time since last July as the global recession cut sharply into sales of American exports. The politically sensitive deficit with China increased.

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Bernanke: Bank Exam Results Should Buoy Confidence

Posted: 05/12/2009 - Federal Reserve Chairman Ben Bernanke says results of the government's unprecedented "stress tests" of the nation's 19 largest banks should bolster Americans' battered confidence in the U.S. banking system.

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Bernanke Says Bank Exam Results Should Buy Confidence

Posted: 05/11/2009 - Federal Reserve Chairman Ben Bernanke says results of the government's unprecedented "stress tests" of the nation's 19 largest banks should bolster Americans' battered confidence in the U.S. banking system.

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Bank Stock Offerings Weigh On Financial Shares

Posted: 05/11/2009 - KeyCorp has joined several other banks Monday in announcing public stock offerings. It is among 10 major banks ordered by the government to raise more capital as a buffer against future losses.

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Stocks Push Higher After Jobs Data

Updated: 05/08/2009 - Stocks are ending sharply higher as investors cheer the news they had been hoping for: Job losses slowed in April and big banks don't need as much capital as some had feared.

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Layoffs Slow In April; Jobless Rate Rises

Updated: 05/08/2009 - The pace of layoffs slowed in April, with employers cutting 539,000 jobs, the fewest in six months. But the unemployment rate climbed to 8.9 percent as many businesses remained wary of hiring given all the economic and financial uncertainties.

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Bank Stress Tests Due Later Today

Posted: 05/07/2009 - The official release isn't expected until after the markets close, but leaked results from bank stress tests suggest some of the nation's largest banks need to raise more money.

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Productivity Rebounds While Wage Pressures Ease

Posted: 05/07/2009 - The government says productivity rebounded in the first three months of this year while wage pressures eased, both outcomes reflecting the country's deep recession.

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Gold Moves Higher As Dollar Falls

Posted: 05/06/2009 - Gold prices and other commodities are higher, buoyed by a falling dollar and an increasingly upbeat outlook on the economy.

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Postal Rates To Climb Next Week

Posted: 05/06/2009 - The new prices include a 2-cent increase in the price of a First-Class Mail stamp to 44 cents.

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Garmin Posts Steep Decline In 1st Quarter Earnings

Posted: 05/06/2009 - Navigational device maker Garmin Ltd. says first-quarter profits fell 67% and widely missed Wall Street expectations as the company took the brunt of slower consumer spending.

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GM May Seek 1-For-100 Reverse Stock Split

Posted: 05/05/2009 - General Motors Corp. says it may offer current shareholders a reverse stock split that would give them one share of new stock for every 100 shares they currently own.

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U.S. Service Sector Contracts, But At Slower Pace

Posted: 05/05/2009 - A private measure of the U.S. services sector contracted for the seventh straight month in April but at a slower pace, the latest sign the economic downturn could be moderating.

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