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    U.S. Economy Headlines
    Oil hits new record, then reverses on worries (AP)

    The opening ceremony of the 29th Annual Session of the OPEC Ministerial Council is seen here in this general view in the city of Isfahan, 450 km (280 miles) south of Tehran, June 17, 2008. REUTERS/Morteza Nikoubazl (IRAN)AP - Crude oil futures swung wildly on Monday, rising to a record and then tumbling as investors wrestled with whether they should put stock in Saudi Arabia's promise to boost production. Retail gas prices rose to a record $4.08 a gallon.


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    Mon, 16 Jun 2008 20:23:04 GMT - Yahoo! News: Economy News
    Policy-makers call inflation top threat (Reuters)

    South Korean President Lee Myung-bak (top) speaks during the 2008 ASEM Finance Ministers' Meeting in Seogwipo on Jeju Island June 16, 2008. (Kim Ho-cheon/Yonhap/Reuters)Reuters - Policy-makers around the globe declared soaring inflation a top threat on Monday, with pressure rising for central banks to raise interest rates amid protests against higher costs of living.


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    Mon, 16 Jun 2008 20:54:08 GMT - Yahoo! News: Economy News
    Trends & Innovations - Monday (Investor's Business Daily)
    Investor's Business Daily - A growing number of state and local gov'ts are letting employees work four days a week instead of five to offset soaring commuting costs tied to higher gas prices. Oakland County, Mich., part of the Detroit metro area, approved the workweek of 4 10-hour days for 4,000 workers, and Birmingham, Ala., will implement the same for its 2,400 employees on July 1. Similar proposals have been adopted or are being studied in Fla., Ky., Okla., and W. Va. "Everybody's hurting, and every day it gets worse," said Miami Dade County Commissioner Jose Diaz, who's pushing such a bill in S. Fla. -- read full article
    Mon, 16 Jun 2008 22:49:51 GMT - Yahoo! News: Economy News
    Twain, Wharton homes join others in financial peril (AP)

    Adrian and Elizabeth Reddall of England, right, listen to historic interpreter Martha Czernicki, left, lead a tour of The Mark Twain House in Hartford, Conn., Wednesday, June 4, 2008.  Mark Twain, Edith Wharton and a host of other boldfaced names among the dead have something in common with living Americans in these hard financial times: Their homes are in jeopardy. For scores of historic house museums, simply keeping the lights on has become a challenge. (AP Photo/Jessica Hill).AP - Mark Twain, Edith Wharton and other boldfaced names among the dead have something in common with living Americans in these hard financial times:


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    Tue, 17 Jun 2008 04:00:21 GMT - Yahoo! News: Economy News
    May PPI seen up 1.0 percent on crude costs (Reuters)

    A truckload of corn is dumped into a chute at the Lincolnway Energy plant in the town of Nevada, Iowa, December 6, 2007. (Jason Reed/Reuters)Reuters - Record-high crude oil costs sent wholesale inflation soaring in May, but a key gauge of underlying price pressures likely moved ahead at a slower pace than the month before, according to a Reuters poll.


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    Tue, 17 Jun 2008 07:25:34 GMT - Yahoo! News: Economy News
    Retreating oil price boosts Dow, Nasdaq (Reuters)

    A worker fuels an aircraft at Reagan National Airport in Arlington, Va., on June 14, 2008. Oil prices continued to batter the struggling airline sector, rising at one point to a new record near $140 a barrel. Light, sweet crude for July delivery soared to a trading record of $139.89 before retreating to trade up $2.10 at $136.96 a barrel on the New York Mercantile Exchange. (AP Photo / Brian McDermott)Reuters - The Dow briefly turned positive on Monday and the Nasdaq rose more than 1 percent as oil prices reversed an earlier climb, providing investors with some comfort following data that revived concerns about the economy.


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    Mon, 16 Jun 2008 17:51:20 GMT - Yahoo! News: Economy News
    New York manufacturing contracts in June (Reuters)
    Reuters - A gauge of manufacturing in New York state contracted in June for the fourth time in five months, the New York Federal Reserve said in a report on Monday that also painted a mixed picture on inflation. -- read full article
    Mon, 16 Jun 2008 13:11:39 GMT - Yahoo! News: Economy News
    Washington Post says Bernanke will not raise rates (Reuters)

    Federal Reserve Board Chairman Ben Bernanke waits to speak at Harvard senior class day in Cambridge, Massachusetts June 4, 2008. (Adam Hunger/Reuters)Reuters - Federal Reserve Chairman Ben Bernanke does not intend to raise interest rates because he is more worried about soaring oil prices slowing global growth than he is about their firing inflation, the Washington Post said on Monday.


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    Mon, 16 Jun 2008 13:14:42 GMT - Yahoo! News: Economy News
    Bernanke: entitlement spending may hit rates, growth (Reuters)

    Federal Reserve Board Chairman Ben Bernanke speaks at the Senate Finance Committee health reform summit in Washington, June 16, 2008. (Jim Young/Reuters)Reuters - Rising spending on U.S. Social Security and Medicare programs, if unchecked, will inflate national debt and the budget defect, ultimately affecting interest rates and economic growth, Federal Reserve Chairman Ben Bernanke said on Monday.


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    Mon, 16 Jun 2008 14:57:30 GMT - Yahoo! News: Economy News
    Twain, Wharton homes join others in financial peril (AP)
    AP - Mark Twain, Edith Wharton and other boldfaced names among the dead have something in common with living Americans in these hard financial times: -- read full article
    Mon, 16 Jun 2008 17:14:29 GMT - Yahoo! News: Economy News
    Perot launches Web site about government spending (AP)
    AP - Billionaire former presidential candidate Ross Perot has started a Web site to highlight what he calls the "economic crisis" facing the country because of deficit spending. -- read full article
    Mon, 16 Jun 2008 17:22:55 GMT - Yahoo! News: Economy News
    Bernanke: Rising health costs pose economic risk (Reuters)

    U.S. Federal Reserve Board Chairman Ben Bernanke speaks at the Senate Finance Committee health reform summit in Washington, June 16, 2008. (Jim Young/Reuters)Reuters - Federal Reserve Chairman Ben Bernanke warned on Monday that rising U.S. government spending on health care risks triggering runaway budget deficits that could put economic stability in danger.


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    Mon, 16 Jun 2008 17:54:36 GMT - Yahoo! News: Economy News
    Policymakers declare inflation top threat (Reuters)

    South Korean President Lee Myung-bak (top) speaks during the 2008 ASEM Finance Ministers' Meeting in Seogwipo on Jeju Island June 16, 2008. (Kim Ho-cheon/Yonhap/Reuters)Reuters - Policy- makers around the globe declared soaring inflation a top threat on Monday, with pressure rising for central bank interest rate increases amid protests against higher costs of living.


    -- read full article
    Mon, 16 Jun 2008 18:14:56 GMT - Yahoo! News: Economy News
    Bernanke: Improving health care is critical challenge (AP)

    U.S. Federal Reserve Board Chairman Ben Bernanke speaks at the Senate Finance Committee health reform summit in Washington, June 16, 2008. (Jim Young/Reuters)AP - Bolstering the performance of the U.S. health care system is one of the biggest challenges facing the country, Federal Reserve Chairman Ben Bernanke said Monday.


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    Mon, 16 Jun 2008 18:23:49 GMT - Yahoo! News: Economy News
    Oil hits new record, then reverses on worries (AP)

    Saudi security guards outside an oil plant in the world's largest oil-producing nation. Oil crude futures have fallen to just above 134 dollars after the UN chief said top OPEC crude producer Saudi Arabia had agreed to increase output to help cool record high prices.(AFP/File/Bilal Qabalan)AP - Crude oil futures swung wildly on Monday, rising to a record and then tumbling as investors wrestled with whether they should put stock in Saudi Arabia's promise to boost production. Retail gas prices rose to a record $4.08 a gallon.


    -- read full article
    Mon, 16 Jun 2008 18:36:51 GMT - Yahoo! News: Economy News
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