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    Business Headlines
    GM to cut jobs, sell assets, raise cash to survive (Reuters)

    General Motors CEO Rick Wagoner listens to a question from the news media after announcing GM's further restructuring plans at a news conference at General Motors World Headquarter in Detroit, Michigan. Part of the plan includes cutting their salaried budget by 20 percent and reducing truck production with the hopes of raising 15 billion USD by 2009.(AFP/Getty Images/Bill Pugliano)Reuters - General Motors Corp on Tuesday announced a plan to cut costs by $10 billion, suspend its common stock dividend and sell up to $4 billion in assets in a bid to shore up cash and survive a deep industry slump.


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    Tue, 15 Jul 2008 17:33:50 GMT - Yahoo! News: Business
    Bernanke: Markets under stress; outlook uncertain (Reuters)

    Treasury Secretary Henry Paulson, left, accompanied by Federal Reserve Board Chairman Ben Bernanke, right, testifies on the economy, Tuesday, July 15, 2008, before the Senate Banking Committee on Capitol Hill in Washington.   (AP Photo/J. Scott Applewhite)Reuters - A weakening housing market, strained banking system and rising oil prices threaten the U.S. economy, and restoring financial market stability is a top priority, Federal Reserve Chairman Ben Bernanke said on Tuesday.


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    Tue, 15 Jul 2008 16:17:48 GMT - Yahoo! News: Business
    eBay wins key ruling in Tiffany trademark suit (AFP)

    The Internet auctioneer logo at Ebay-France headquarters in Paris. Internet auction giant eBay cannot be held liable for trademark infringement for counterfeit items sold through its website, a US judge ruled Monday in a case brought by luxury retailer Tiffany.(AFP/File/Jacques Demarthon)AFP - Internet auction giant eBay cannot be held liable for trademark infringement for counterfeit items sold through its website, a US judge ruled Monday in a case brought by luxury retailer Tiffany.


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    Mon, 14 Jul 2008 22:41:46 GMT - Yahoo! News: Business
    AOL launches personal finance site (Reuters)
    Reuters - Time Warner Inc's AOL will launch a personal finance site on Tuesday, adding to a roster of new properties that do not bear its name. -- read full article
    Tue, 15 Jul 2008 04:48:53 GMT - Yahoo! News: Business
    Economy - Monday (Investor's Business Daily)
    Investor's Business Daily - Retail sales ex autos rose 1.1% from May, the biggest gain in 7 months, as consumers spent gov't tax rebates, according to SpendingPulse, a unit of MasterCard Advisors. Most of the increase went for food, energy and other necessities. The Commerce Dept. releases official retail sales figures on Tue. -- read full article
    Mon, 14 Jul 2008 22:37:01 GMT - Yahoo! News: Business
    GM readies for new round of job cuts (Reuters)

    A fading GM logo is painted on a building near a Chevrolet dealership on in Chicago. General Motors, the embattled top US automaker, said Monday it will hold a news conference Tuesday to announce restructuring measures amid skyrocketing gasoline prices that are reshaping the domestic market.(AFP/Getty Images/File/Scott Olson)Reuters - General Motors Corp Chief Executive Rick Wagoner is slated to announce the automaker's second major restructuring package in six weeks on Tuesday as the company looks to cut costs and win back investor confidence in the face of slumping sales.


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    Mon, 14 Jul 2008 23:33:41 GMT - Yahoo! News: Business
    BT to invest $3 bln in super-fast broadband (Reuters)
    Reuters - Telecoms group BT plans to invest $3 billion to roll out super-fast broadband to up to 10 million homes by 2012, it said on Tuesday. -- read full article
    Tue, 15 Jul 2008 08:02:40 GMT - Yahoo! News: Business
    Pledge fails to lift cloud over Fannie, Freddie (Reuters)

    Mortgage firm Freddie Mac headquarters is pictured in McLean, Virginia July 13, 2008. U.S. (Larry Downing/Reuters)Reuters - Buyers showed no hesitation in bidding on Freddie Mac's $3 billion debt sale on Monday, just hours after the U.S. government pledged support for the nation's top mortgage finance agencies, but the steps failed to stem growing alarm on Wall Street.


    -- read full article
    Mon, 14 Jul 2008 23:03:45 GMT - Yahoo! News: Business
    Congress to hear Bernanke, Paulson on market strain (Reuters)

    Fed Chairman Ben Bernanke speaks at the Federal Reserve Bank of Chicago's Annual Conference on Bank Structure and Competition May 15, 2008. REUTERS/John GressReuters - Discussion of persistent financial market turmoil is seen as likely to overshadow the Federal Reserve's semi-annual monetary policy outlook when Fed Chairman Ben Bernanke testifies before Congress on Tuesday.


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    Tue, 15 Jul 2008 04:12:01 GMT - Yahoo! News: Business
    Goldman: No turning point for U.S. housing from GSEs plan (Reuters)
    Reuters - A major U.S. government plan to shore up mortgage finance firms Fannie Mae and Freddie Mac will not revive the ailing U.S. housing market yet, wrote Goldman Sachs economists in a research note dated Sunday. -- read full article
    Mon, 14 Jul 2008 15:23:30 GMT - Yahoo! News: Business
    Midwest Air to slash work force by 40 percent (Reuters)

    A Midwest Airlines Boeing 717 jet lands at Mitchell International Airport in Milwaukee, Wisconsin January 11, 2007. (Allen Fredrickson/Reuters)Reuters - Midwest Airlines, a unit of Midwest Air Group, on Monday said it would cut its work force by 1,200 employees, or 40 percent, making it the latest airline to reduce staffing amid soaring fuel prices.


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    Mon, 14 Jul 2008 18:38:03 GMT - Yahoo! News: Business
    Waste Management offers $6.2 bln to buy Republic (Reuters)

    A Waste Management truck is seen in a handout photo. (Waste Management/Handout/Reuters)Reuters - Waste Management Inc on Monday offered to buy Republic Services Inc for about $6.19 billion, potentially derailing the smaller competitor's deal to acquire Allied Waste Industries Inc .


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    Mon, 14 Jul 2008 17:22:16 GMT - Yahoo! News: Business
    Stocks fall on bank jitters (Reuters)

    Traders work on the floor of the New York Stock Exchange, July 8, 2008. (Brendan McDermid/Reuters)Reuters - Stocks tumbled on Monday as concerns about the credit crisis and financial companies outweighed earlier optimism over the government's proposed rescue plan for mortgage finance companies Fannie Mae and Freddie Mac .


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    Mon, 14 Jul 2008 17:38:41 GMT - Yahoo! News: Business
    InBev buys Bud for $52 bln to be top world brewer (Reuters)

    Bud Light and Budweiser beer is shown in a cooler at the Toluca Mart liquor store in Los Angeles, California June 16, 2008. (Fred Prouser/Reuters)Reuters - Anheuser-Busch Cos Inc accepted a sweetened $52 billion takeover bid from Belgium-based InBev NV NV , creating the world's largest beer maker and placing an iconic U.S. company into foreign hands.


    -- read full article
    Mon, 14 Jul 2008 17:08:25 GMT - Yahoo! News: Business
    U.S. pledge fails to lift cloud over Fannie, Freddie (Reuters)

    Secretary of the Treasury Henry Paulson announces that the Treasury Department and Federal Reserve will lend money and buy stocks if necessary to aid embattled mortgage lenders Fannie Mae and Freddie Mac during a statement to the media at the Treasury Building in Washington, July 13, 2008. (Joshua Roberts/Reuters)Reuters - Buyers flocked to Freddie Mac's $3 billion debt sale on Monday, just hours after the U.S. government pledged support for the nation's top mortgage finance agencies, but the steps failed to stem growing alarm on Wall Street.


    -- read full article
    Mon, 14 Jul 2008 18:13:19 GMT - Yahoo! News: Business
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