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- $10 Billion Deal Would Ship Gas From Africa To Europe
Nigeria's state oil company says that Nigeria, Algeria and Niger have signed an agreement to create a $10 billion trans-Saharan gas pipeline to ship gas to Europe.
- Number Of Active Oil Rigs Up By 11
The number of rigs actively exploring for oil and natural gas in the United States rose by 11 this week to 928.
- Wall Street Investors Sell Off Stocks Due To Rising Unemployment Rate
A dour report on job losses in June sent stocks sharply lower.
- FDIC Seeks More Investor Interest In Failed Banks
The Federal Deposit Insurance Corp. is proposing rules that it hopes will attract more private equity investors as buyers of failed banks.
- Hitachi To Supply Lithium-Ion Batteries To GM
Japanese electronics maker Hitachi is going to dramatically boost production of lithium-ion batteries for use in hybrid auto engines.
- Iraq To Push Back Second Oil Bidding Round
Iraq is planning to push back its second oil bidding round to develop 11 oil and gas fields after a disappointing showing in the first offer.
- Stock Futures Lower After Jobs Report
Stock futures are extending their decline as the June unemployment rate hit a 26-year high.
- 467,000 Jobs Cut In June; Unemployment Rate At 9.5%
Employers cut a larger-than-expected 467,000 jobs in June, driving the unemployment rate up to a 26-year high of 9.5%, suggesting that the economy's road to recovery will be a bumpy one.
- Factory Orders Rise More Than Expected In May
Orders to U.S. factories jumped in May by the largest amount in nearly a year, further evidence that the nosedive in manufacturing is nearing an end.
- Stocks Advance After Mixed Data; Jobs Report Looms
The stock market's third quarter began on a positive note after some reassuring data on manufacturing and the housing market.
- Google Silences News Commentary Feature
Google has quietly dropped a feature that allowed people mentioned in news stories to comment on the articles.
- Money Matters
Lazy habits that are hurting your wallet.
- ICE Launches Workplace Immigration Crackdown
Immigration officers are investigating workplaces in every state in the U.S. to check whether they are hiring illegal workers.
- Gov't Seeks To Crack Down On Get-Rich-Quick Scams
The economic downturn appears to be bringing out the worst in some people.
- Ford US Sales Drop 10.7 Percent in June
Ford Motor Co. says its June U.S. sales fell only 10.7 percent from a year earlier, a far smaller drop than in previous months and a sign that auto sales may be recovering.
- Iraqi Cabinet Approves BP's Offer On Rumaila Oil Field
The Iraqi government has approved an offer submitted by a consortium led by British giant BP PLC to develop the 17.8 billion barrel Rumaila oil field in the south.
- Freddie Mac Receives Additional $6.1 Billion From Gov’t
Battered mortgage giant Freddie Mac has received $6.1 billion in new funds from the Treasury Department to help offset its mounting liabilities.
- GM, Ford Suspend Russia Production
U.S. car companies General Motors and Ford say they are suspending operations on their production lines in Russia because the economic crisis is squeezing consumers' demand for new cars.
- Manufacturing index Shrinks Less Than Expected
A report on manufacturing activity shows the sector contracted less than expected in June, and at the slowest pace since last August.
- Money Matters
Forbes Magazine recently asked a group of experts to measure the hidden costs of laziness and what you can do about it. - Consumer Confidence Falls
Consumer confidence has faltered, according to the latest update from the Conference Board.
- Jobless Rates Rise In All U.S. Metro Areas In May
Unemployment rates rose in all the largest U.S. metropolitan areas for the fifth straight month in May.
- Report: Worst May Be Over For U.S. Tech Market
As bad as the technology market fared in the first quarter of this year, the worst may be over, at least in the United States.
- Stocks Down On Dip In Consumer Confidence
Stocks are reversing early gains and heading lower after a report that consumer confidence fell unexpectedly in June.
- Iraq Oil Auction Fizzles
The first international bidding process in more than 30 years for development rights to some of Iraq's oil fields has finished, with only one field being awarded.
- Home Prices Post 18.1% Annual Drop In April
A key housing index shows a clear trend that home price declines are moderating.
- Stocks Open Flat Ahead Of Consumer Confidence Data
Stocks are holding steady in early trading as investors look to seal the market's best quarterly performance in more than a decade.
- Ten More Will Be Charged in Madoff Scam
A person familiar with the investigation into disgraced financier Bernard Madoff said 10 more people will be charged by the time the probe is complete.
- Rising Oil, Commodities Lift Stocks
Stocks are higher at midday on Wall Street, helped by higher energy prices as the quarter draws to a close.
- Ford Analyst Says June Best Month For Sales In '09
Ford Motor Co.'s top sales analyst says June was the industry's best month of the year, with sales falling less than 30%.
- GM Ending Nummi Joint Venture With Toyota
General Motors Corp. says it is ending its joint venture with Toyota at a Fremont, Calif., manufacturing plant after the two automakers failed to reach an agreement on a new product there.
- Fenton Chrysler Plant Open Again, But Only Briefly
Workers at Chrysler's north assembly plant in St. Louis County are back on the job, but only for a short time.
- Stocks Open Higher Ahead Of Week's Key Data
Investors are beginning a holiday-shortened week on a positive note.
- Judge Gives Final OK to Bankruptcy Financing
A bankruptcy judge says GM can have access to its full $33.3 billion in bankruptcy financing.
- New Unemployment Claims Rise Unexpectedly
The government says the number of people filing first-time claims for jobless benefits increased last week
- SEC Pitches Tightened Rules For Money-Market Funds
Federal regulators are proposing tightened rules for money-market mutual funds that will require them to hold a reserve of assets that could be easily sold and to invest only in the highest quality securities.
- Warren Buffett Says Economy Remains Flat
Billionaire Warren Buffett says the economy has not yet had any bounce and will take some time to recover.
- Time Warner, Comcast to Start Online Video Trials
Time Warner and Comcast are joining forces to bring cable TV shows to the Internet, but only for paying subscribers.
- Fed Weighs Whether Economic Revival Program Should Be Slowed
The health of the economy is under examination by the Federal Reserve, as policymakers today conclude a two-day policy-setting session.
- Memphis Hospital Confirms Jobs Liver Transplant
A Memphis, Tenn., hospital is confirming that Apple founder Steve Jobs received a liver transplant
- Money Matters
Advice for new college graduates on finance.
- Stocks End Mixed As Investors Await Fed Statement
Investors are holding off making big moves while they wait for the Federal Reserve.
- Commodity Prices Rebound On Dollar Weakness
Commodity prices are rebounding from a sharp sell-off the day before as the dollar resumes its descent against other major currencies.
- GM To Cut 4,000 More White-Collar Jobs By Year End
General Motors Corp. has notified its U.S. white-collar workers that it plans to cut about 4,000 more jobs by the end of the year.
- Energy Dept. To Lend $8 Billion To Ford, Nissan, Tesla
The three automakers are the first beneficiaries of a $25 billion fund to develop fuel-efficient vehicles.
- Lawmaker: GM May Pick Small-Car Plant Location This Week
A U.S. representative says General Motors Corp. could decide as early as this week where in the U.S. it will build a new line of small cars.
- Toyota Shareholders Approve Founder's Grandson As Head
Shareholders of Toyota Motor Corp. have approved the appointment of Akio Toyoda, the grandson of the company's founder, as president.
- May Existing Home Sales Rose By 2.4 Percent
A real estate group says sales of previously occupied homes rose modestly from April to May, the third monthly increase this year, but signs of any housing recovery are fragile at best.
- Stocks Edge Up After Rise In Existing Home Sales
A rise in existing home sales is doing little to stoke the stock market.
- Stocks Tumble As Global Economic Worries Rise
A surprisingly bleak forecast for the world economy sent stocks tumbling.
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