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- Anheuser-Busch InBev Sells Theme Parks In $2.3 Billion Deal
Anheuser-Busch InBev is selling its theme parks, including SeaWorld and Busch Gardens, to private equity firm Blackstone Group for at least $2.3 billion.
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- GM CEO Says Its Global Auto Market Has Risen
General Motors Co. CEO Fritz Henderson says the automaker's global market share has risen slightly in the third quarter versus the first half of this year. But the figure is still below last year.
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- Stocks Slip In Early Morning Trading
Stocks are slipping in early trading as investors await the kickoff of earnings season and as the dollar strengthened.
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- Michelin Launches New Global Media Campaign
Michelin says it's launching a new global media campaign featuring its legendary Michelin Man character.
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- NASA Contractor Laying Off 550 Engineers, Others
The company that makes booster rockets for the space shuttle is laying off 550 engineers, factory workers and others at three Utah locations.
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- Commodities Surge Drives Stock Market Higher
Investors are rushing into stocks for a second day amid signs that the global economy is recovering and as a weak dollar pushes up prices of commodities.
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- Kuwait Delays Plan To Boost Oil Capacity To 2030
Kuwait's oil minister says his country is delaying plans to boost output capacity to 4 million barrels per day by a decade because of weakness in the market.
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- Rate On 6-Month Treasury Bills Hits New Record Low
Interest rates on six-month Treasury securities fell further in Monday's auctions, marking the sixth straight week they have been at record lows.
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- Stocks Edge Up As Service Industry Activity Rises
Stocks are struggling to hold their gains after a trade group reported the service industry grew in September but companies' pricing power weakened.
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- Chrysler Names New Chiefs To Head Ram, Car Brands
Chrysler Group LLC has named executives to head its newly created Dodge Ram and Dodge Car brands.
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- Michigan Bank Closes, 96th Failure In 2009
Regulators have shut down Warren Bank in Warren, Mich., the 96th U.S. bank failure this year as loan defaults rise in the worst financial climate in decades.
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- Hallmark To Cut 225-250 Jobs
Hallmark Cards Inc. says it will eliminate another 225 to 250 jobs across the country by the end of the year.
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- Stocks Sink As Job Losses Rise More Than Expected
Stocks are tumbling after the government said more jobs were lost in September than expected.
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- IBM Undercuts Google With Discount E-Mail Service
IBM is trying to stymie Google's expansion into business software.
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- Manufacturing, Employment Data Push Stocks Lower
Stocks are starting the fourth quarter with a steep slide as pessimism about the economy grips investors.
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- Sept. U.S. Auto Sales Fall Amid Clunkers Letdown
GM, Ford and Chrysler reported September sales declines on Thursday, revealing a tough hangover from this summer's Cash for Clunkers buying spree.
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- New Jobless Claims Rise More Than Expected
First-time claims for jobless benefits rose more than expected last week, a sign employers are reluctant to hire and the job market remains weak.
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- Verizon To Close 2 Call Centers
Verizon Wireless is closing two call centers in Missouri and Kansas, eliminating almost 300 jobs.
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- Consumer Spending Jumps 1.3% In August
Consumer spending, propelled by the wildly popular Cash for Clunkers auto sales program, shot up in August by the largest amount in nearly eight years even though personal incomes continued to lag.
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- GM Shutting Down Saturn Brand
General Motors Co. says it's shutting down the Saturn brand after an agreement with Penske Automotive Group Inc. to acquire the unit fell apart.
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- Surprise Slide In Manufacturing Sends Stocks Lower
The stock market has ended a strong third quarter with trading that reflected investors' mixed emotions about the economy.
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- Survey Shows Growing Pressure On Medicaid Programs
Medicaid programs could face a revenue crunch that hurts programs and provider reimbursement in fiscal 2011 after federal stimulus money dries up, said a survey released Wednesday.
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- Economy Dips At 0.7% Pace In 2Q
The economy shrank less than expected in the second quarter as businesses and consumers trimmed their spending at a slower pace, buttressing beliefs that the economy is now growing.
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- Report: CIT Group Again On Brink Of Collapse
Group Inc. shares plunged Wednesday as the commercial lender is reportedly trying to craft an exchange that would cut its debt and offer bondholders an equity stake in the company in a bid to avoid bankruptcy.
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- Goodyear: New Contract Provides $215 Million In Savings
Goodyear Tire & Rubber Co. says a new national contract with the United Steelworkers union will save the company $215 million over the four-year life of the agreement.
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- Drop In Consumer Confidence Weighs On Stocks
A report showing Americans are still jittery about the economy has pushed stocks lower a day after a steep rally.
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- FDIC Says Bank Failures To Cost Around $100 Billion
Federal regulators expect bank failures to cost the deposit insurance fund about $100 billion in the next four years and the fund to fall to a negative balance this month.
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- Consumer Confidence Unexpectedly Falls In Sept.
Consumers' confidence in the economy falls in September as Americans' worries about job security offset any enthusiasm about the rally in the stock market.
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- AP Source: Chrysler Midsize Car Plant To Stay Open
A person briefed on Chrysler's business plan says the company plans to improve its midsize cars and keep making them at its Sterling Heights, Mich., factory for an undefined period.
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- FDIC Expected To Require Banks To Prepay Fees
It's the first time the Federal Deposit Insurance Corp. is making banks pay up front.
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- Xerox, Abbott Deals Boost Stocks; Dow Gains 124
According to preliminary calculations, the Dow Jones industrial average is up 124 at 9,789. The Standard & Poor's 500 index is up 19 at 1,063. The Nasdaq composite index is up 40 at 2,131.
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- Delta Closes On $2.1 Billion In Loans
Delta Air Lines Inc. says it has closed on $2.1 billion worth of financing, which will help with the major debt payments it has due next year.
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- Gold, Silver Inch Higher, Other Commodities Mixed
Gold and silver prices have broken a three-day losing streak, rising slightly in quiet trading. Oil prices are higher, while soft commodities are mixed.
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- Crime Victims Getting Stimulus Money Amid Downturn
The government's economic stimulus money isn't just for hard hats, contractors and teachers. It's also keeping battered women's advocates on the job and compensating crime victims for lost wages and uncovered medical costs.
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- BofA Suspends Dealings With ACORN Housing Entity
Bank of America Corp. is suspending its work with the housing affiliate of embattled community organizing group ACORN.
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- Xerox, Abbott Deals Boost Stocks; Dow Gains 135
Corporate deal-making is boosting investors' hopes for a recovery in the economy.
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- Ohio AG Takes Lead Role In Bank Of America Lawsuit
Ohio has taken the lead role in an aggressive securities lawsuit alleging that Bank of America Corp. concealed billions of dollars in losses and bonuses paid during the bank's merger with Merrill Lynch.
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- Early Retirements Strain Social Security System
Big job losses and a spike in early retirement claims from laid-off seniors will force Social Security to pay out more in benefits than it collects in taxes the next two years.
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- Stocks Rebound After Market's Bad Week
The stock market is advancing after the market's worst week since early July.
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- Cash For Clunkers Payments 98% Complete
The Transportation Department has approved nearly all the claims for repayment filed by dealers under the Cash for Clunkers auto rebate program, the federal agency said Friday.
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- Gold, Silver Falter For 3rd Day; Oil Turns Higher
Gold and silver prices are lower for a third straight day, even as the dollar falls.
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- Yahoo Director To Step Down At End Of Year
Yahoo director Maggie Wilderotter plans to step down from the slumping Internet company's board at the end of this year. The resignation will leave Yahoo with 11 directors.
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- Bailout Money For Smaller Banks Being Weighed
Key regulators and lawmakers are considering an infusion of federal bailout money for small community banks.
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- House Pushes For Sweeping Audit Of The Fed
House lawmakers want to pry open the books of the famously secretive Federal Reserve with legislation that would subject the central bank to a sweeping congressional audit.
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- Stocks Zigzag In Early Trading
Stocks are zigzagging following a report that new home sales edged higher in August but fell short of economists' expectations.
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- Bernanke: Consumer Loan Program Still Needed
Federal Reserve Chairman Ben Bernanke said Friday a government program intended to spark lending to consumers and businesses is still necessary even with other emergency lending programs winding down as the economy recovers.
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- New U.S. Home Sales Rise 0.7% In August
New U.S. home sales posted a tepid 0.7% increase last month, missing Wall Street expectations and providing more evidence that the housing market recovery remains tentative.
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- UAW President Walking Fine Line With Ford
United Auto Workers union president Ron Gettelfinger says working on additional contract modifications with Ford Motor Co. "is a delicate balance," as both sides try to protect their interests while maintaining a good relationship.
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- Drop In Home Sales, Tumbling Oil Weigh On Stocks
A surprise drop in home sales and a slide in the price of oil are pushing investors to sell stocks.
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- Commodities Extend Slide As Dollar Gains Ground
Gold prices have closed below the $1,000 mark for the first time in two weeks as the dollar rises against other currencies.
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