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Updated: 5 hours 25 min ago
IBM in sales alliance with Japan's Ricoh: paper
TOKYO (Reuters) - IBM and Japanese office equipment maker Ricoh Co Ltd will start sharing each other's sales network this year and promote their servers and printers together, the Nikkei business daily said on Thursday.
Categories: Business News
Wall St closes out worst year since Depression
NEW YORK (Reuters) - Wall Street closed out its worst year since the Great Depression on Wednesday after an unstoppable credit crisis and a dreadful economic outlook left investors questioning their faith in stock markets.
Categories: Business News
GM gets $4 billion rescue loan, Chrysler on hold
DETROIT (Reuters) - The U.S. government on Wednesday paid out the first $4 billion in emergency loans to support General Motors Corp but a parallel rescue payment for Chrysler LLC was on hold until the new year.
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NYSE says to suspend R.H. Donnelley stock
(Reuters) - The New York Stock Exchange said it determined that trading in the common stock of yellow pages directories publisher R.H. Donnelley Corp should be suspended, effective January 2.
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Oil jumps 14 percent, products up
NEW YORK (Reuters) - U.S. crude oil rose 14 percent on the final trading day of 2008 in thin pre-holiday trade on Wednesday, tracking a jump in gasoline as a slowdown in domestic refinery activity sparked fears of tightening fuel supply this winter.
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More economic pain seen in 2009, but some hope too
SINGAPORE/NEW YORK (Reuters) - Many investors said good riddance on Wednesday to one of the worst years on record and prayed that government rescue plans will pull the global economy out of its fierce tailspin later in the new year.
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AIG may seek to ease loan repayment terms: reports
NEW YORK (Reuters) - American International Group Inc may seek to ease terms for repayment of a $60 billion U.S. government loan in a bid to get better prices for its assets, according to media reports.
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Madoff to meet SEC deadline on assets: lawyer
NEW YORK (Reuters) - Accused swindler Bernard Madoff will send U.S. regulators a list of his assets, liabilities and property by Wednesday's court-ordered deadline, his lawyer said.
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Jobless claims dive while mortgage rates ease again
WASHINGTON (Reuters) - U.S. weekly jobless claims plummeted last week but the improvement was probably a seasonal quirk rather than a turning point for the recession-ravaged labor market.
Categories: Business News
GMAC eases burden with $21.2 billion debt swap
NEW YORK (Reuters) - GMAC, the General Motors Corp financing affiliate that received a $6 billion infusion from the government, completed a multibillion dollar debt swap on Wednesday designed to bolster its capital.
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Apparel makers to ask retailers for concessions: report
(Reuters) - Clothing manufacturers, irked by the deep holiday discounts offered by retailers, may force department stores to absorb a larger chunk of the markdowns, Bloomberg reported.
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Oil falls below $39 on grim economic outlook
NEW YORK (Reuters) - Oil fell over 3 percent on Tuesday, as signs of the sickly world economy outweighed tension in the Middle East due to the Israeli-Hamas conflict.
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Wall Street gains on auto bailout, techs
NEW YORK (Reuters) - Stocks extended gains on Tuesday after Washington expanded its bailout of the auto industry while technology shares helped boost the Nasdaq.
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Billionaires' luster dims as crisis grips
LONDON (Reuters) - The financial crisis caught up with Kirk Kerkorian, Robert Tchenguiz and Adolf Merckle in the last days of 2008, denting their reputations for being among the world's savviest, not merely richest, investors.
Categories: Business News
Global growth seen weak as lending stagnates
LONDON (Reuters) - Global growth will be very weak next year, a senior European banker warned on Tuesday, and loans to companies and household in the euro zone stagnated, raising new concerns about the extent of the credit crunch.
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Airbus to win bet with A380 delivery
DUBAI (Reuters) - Dubai's Emirates airline was set to receive its fourth A380 superjumbo on Tuesday, winning a champagne bet for the head of manufacturer Airbus as it reached a key 2008 target with two days to spare.
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Consumer confidence and home prices hit grim records
NEW YORK (Reuters) - The U.S. economy continued its run of record-breaking dismal data Tuesday, with consumer confidence and home prices registering a pair of grim milestones.
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U.S. puts up $6 billion to support GMAC
WASHINGTON (Reuters) - The Bush administration on Monday expanded its bailout of the U.S. auto industry, saying it was buying $5 billion in equity in auto and mortgage finance company GMAC and increasing a loan to General Motors by $1 billion.
Categories: Business News
Dow scrambling to keep $15 billion Rohm takeover alive: report
SINGAPORE (Reuters) - Dow Chemical is scrambling to keep its $15 billion takeover of rival Rohm & Haas alive after a surprise decision by the Kuwaiti government to scrap a joint venture with Dow, the Financial Times reported on Tuesday.
Categories: Business News
Airlines "shrinking by all measures": IATA
GENEVA (Reuters) - International airlines saw a huge 13.5 percent fall in cargo traffic in November and a drop of 4.6 percent in passengers as business shrank across the industry, the carriers' grouping IATA said on Tuesday.
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