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Japan's Recession Hits 'Temps' (05 December 09:32) |
| Sweeping job cuts in Japan have created a moment of reckoning, exposing the social costs of the embrace of U.S.-style capitalism. |
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Housing Market Faces Broader Ills (05 December 08:28) |
| Treasury's proposal to push down mortgage rates is raising the housing industry's hopes but won't cure all the woes that have curtailed sales. |
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Fed Weighs Options as Europe Cuts Rates (05 December 07:17) |
| The Fed is considering taking unconventional steps to revive the economy as central banks outside the U.S. cut rates more aggressively. |
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China Looks to Wall Street to Lure Back Talent (05 December 07:05) |
| China, which has long sent its best and brightest abroad, is now siphoning talent from Wall Street. |
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Companies Accelerate Layoffs (05 December 06:56) |
| Companies are shedding workers at an accelerating rate, pushing jobless claims to a 26-year high. |
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Lower Rates Won't Cure All Ills (05 December 06:45) |
| Treasury's proposal to push down mortgage rates is raising the housing industry's hopes but won't cure all the woes that have curtailed sales. |
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Trichet Coaxes Europeans to Shift Gears (05 December 06:35) |
| ECB President Trichet is starting to silence criticism that he is responding too slowly to the downturn that may be Europe's worst since World War II. |
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Japanese Cuts Hit 'Temp' Workers (05 December 06:28) |
| Sweeping job cuts in Japan have created a moment of reckoning, exposing the social costs of the embrace of U.S.-style capitalism. |
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Oil's Slide Set to Leave Dark Trail (05 December 05:45) |
| Oil prices, continuing their free-fall from July highs, could soon push much lower, threatening energy-driven companies and economies. |
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India Set to Announce Stimulus Plan (05 December 05:31) |
| India's central bank appears likely to cut short-term interest rates in a bid to help the country deal with the global economic crisis and the blow from the Mumbai terrorist attacks. |
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France Focuses Stimulus on Infrastructure (05 December 05:20) |
| France unveiled a $33 billion package aimed at jump-starting its economy via the construction of new homes and transport lines. |
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Labor Pains: Job Picture Isn't Pretty (05 December 04:54) |
| Economists think unemployment rose to 6.8% in November, from 6.5%. They estimate nonfarm payrolls shed 350,000 jobs. These forecasts could be too rosy. |
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Bernanke Urges Action on Foreclosures (04 December 10:15) |
| Bernanke urged the government to consider sweeping steps to prevent foreclosures, including buying risky mortgages and refinancing them under more favorable terms to homeowners. |
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Jobless Claims Remain High (04 December 10:05) |
| The number of U.S. workers filing new claims for unemployment benefits unexpectedly fell 21,000 last week but remained above the half-million. Factory orders plunged 5.1% in October, the big... |
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ECB, Bank of England Cut Rates (04 December 08:08) |
| Central banks world-wide delivered sweeping cuts, with the ECB lowering rates by 0.75 percentage point to 2.5% and the BOE slashing its key rate by one point to 2%. (Trichet remarks) |
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Sarkozy Unveils Stimulus Package (04 December 07:45) |
| French President Sarkozy unveiled a stimulus package to boost consumer spending, corporate investments and France's car industry. |
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Jobless Claims Fall, but Still High (04 December 07:14) |
| The number of U.S. workers filing new claims for unemployment benefits unexpectedly fell 21,000 last week but remained above the half-million mark consistent with steep employment declines. |
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Bank of England Cuts Rate to 2% (04 December 05:37) |
| The Bank of England slashed the key U.K. interest rate by one percentage point to 2% in an attempt to buoy up the ailing U.K. economy. Sweden's central bank cut its key rate by a record 1.75... |
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Sarkozy to Unveil Stimulus Package (04 December 04:56) |
| France's Sarkozy is to unveil a stimulus package to boost consumer spending, corporate investments and the country's car industry, estimated at 1.3% of gross domestic product. |
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Lower Output Led to Euro-Zone Contraction (04 December 04:14) |
| The euro-zone economy contracted in the third quarter as net trade became a big drag on growth and the decline in industrial production accelerated. |
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India Likely Will Cut Rates Soon (04 December 03:10) |
| India's central bank is likely to lower its key policy rates in the coming days, a Finance Ministry official said. |
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Downturn Spares Few Areas of U.S. (04 December 06:10) |
| Economic activity is weakening across the U.S., a Fed survey shows, with few sectors or regions spared from the deepening downturn. (Report) |
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U.K. Sets Mortgage Steps (04 December 06:06) |
| A plan to help financially stretched homeowners will defer some mortgage payments for up to two years, in an effort to counter a rise in foreclosures. |
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Data Weigh on Europe's Central Banks (04 December 05:56) |
| European indicators slid in November data, raising pressure on the ECB and British and Swedish central banks to cut rates Thursday. |
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Nonbank Firms Seek Relief on Credit (04 December 05:33) |
| Nonbank firms are calling for more federal action to unlock credit markets and jump-start lending to businesses. |
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Ukraine's Currency Hits Crisis Level (04 December 05:25) |
| Ukraine's currency spiraled to a new low as new data showed the country's population ditching the hryvnia in favor of the dollar faster than ever. |
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Romania's GDP Jumps; Boom at End (04 December 04:34) |
| Romania's economy expanded much faster than expected in the third quarter, but indicators suggest the country's economic boom may be over. |
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Taiwan Forecasts Recession (04 December 04:06) |
| Taiwan was close to a recession in the third quarter of 2008 in a slowdown that will extend through the first quarter of 2009, President Ma said. |
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Japan Signals Shift From Austerity (04 December 04:06) |
| Japan again signaled it is diverging from an austerity policy amid mounting pressure to please disgruntled voters by increasing spending. |
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Europe's Economic Slump Deepens (04 December 04:05) |
| European economic activity appeared to fall off a cliff in November, increasing pressure on the central banks to deliver sharp interest rate cuts Thursday. |
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China Stability Plans Include Yuan (04 December 03:54) |
| China pledged to use a range of means, including its currency, to ensure its banking and financial systems function well as it implements an stimulus package. |
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Australia Ekes Out a Gain (04 December 03:29) |
| The Australian economy barely grew in the third quarter, leaving it at risk of a contraction in coming quarters as the financial crisis snowballs. |
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Thailand Makes Big Rate Cut (04 December 02:42) |
| The Bank of Thailand cut its benchmark interest rate by one percentage point to 2.75%, its largest single cut since it began setting inflation targets in 2000. |
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Beige Book Shows Broad Weakness (04 December 01:25) |
| A Fed report shows that U.S. economic activity has weakened even further, adding to this week's dismal financial news. (Report) |
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Obama Backs Pleas for Aid to States (03 December 06:06) |
| Obama promised cash-strapped state governors support for aid, but warned that the federal government wouldn't be able to fix all the state's budget problems. |
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Yuan Continues to Slip (03 December 05:41) |
| A sudden new demand for dollars in China's foreign-exchange market pushed the yuan's value down slightly further. |
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EU to Issue Guidelines on Bank Aid (03 December 04:45) |
| The EU will issue guidelines this month for governments planning to give money to their banks to support the wider economy, Kroes said. |
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Price Data Clear Path for Rate Cut (03 December 04:18) |
| Euro-zone producer prices fell at their fastest rate on record in October, paving the way for the ECB to cut interest rates again this week. |
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Obama Asks Governors for Input (02 December 10:29) |
| Obama urged the nation's governors for help in designing a bottom-up recovery plan, repeating a call for a stimulus package to help lift the economy out of recession. |
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Delinquent Mortgages to Nearly Double (02 December 08:27) |
| The number of consumers with delinquent mortgages is expected to nearly double by the end of next year, according to a credit bureau. |
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New York Fed Seeks New Chief (02 December 09:53) |
| The New York Fed said it created a search committee to find a new president to succeed Timothy Geithner, who was selected by Obama to become Treasury secretary. |
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Fed Signals More Action (02 December 09:49) |
| The U.S. recession began last December, the National Bureau of Economic Research said. Bernanke cited actions the Fed is considering. (Remarks) |
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Sweden Central Bank to Meet Early (02 December 09:33) |
| Sweden's central bank will hold its next monetary-policy meeting Wednesday -- two weeks ahead of schedule -- in a move that could signal it is eager to slash interest rates to boost the econ... |
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Yuan Sinks Ahead of Meeting With U.S. (02 December 09:26) |
| The yuan fell sharply on concerns China's central bank might weaken the currency to help boost growth. Two economic indicators show the slowdown intensifying. |
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Governors Press for Stimulus Bill (02 December 09:13) |
| The nation's governors urged Congress to pass an economic-stimulus package for states, warning that their collective budget shortfall could rise to $140 billion by mid-2010. |
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FHA Cash Cushion Has Fallen by 39% (02 December 05:53) |
| The latest annual audit of the FHA shows a steep drop in the capital cushion the U.S. agency holds against losses from mortgage defaults. |
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Merkel's Budget Course Draws Fire (02 December 05:20) |
| Merkel dismissed calls for Germany to slash taxes or greatly boost spending, though Europe's industrial powerhouse is sliding into what could become its worst recession in decades. |
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South Korean Exports Fall 18.3% (02 December 04:06) |
| South Korea's exports had the biggest percentage decline in seven years. Exports fell 18.3% in November from a year earlier to $29.26 billion |
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Indonesian Inflation Eases (02 December 04:06) |
| Indonesian economic data showed a slowing economy, but analysts still suggest that the central bank should hold rates at the current level. |
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Paulson: New TARP Ideas Mulled (02 December 02:02) |
| Paulson reiterated that the Treasury Department is still examining new ways to stabilize financial markets, stem foreclosures, and boost the economy. (Remarks) |
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