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    U.S. Economy Headlines
    Wall St. flat as oil drops as GE gains (Reuters)

    Traders work on the floor of the New York Stock Exchange, July 8, 2008. (Brendan McDermid/Reuters)Reuters - Stocks were little changed in a seesaw session on Tuesday as a pullback in oil prices calmed inflation concerns and rekindled optimism about corporate profits but sent energy shares lower.


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    Tue, 08 Jul 2008 18:26:36 GMT - Yahoo! News: Economy News
    Pending home sales tumble in May (Reuters)

    Rain clouds gather behind a sign advertising a new housing development in Manchester, northern England, July 8, 2008. (Phil Noble/Reuters)Reuters - Pending sales of previously owned U.S. homes plummeted by 4.7 percent in May, far more than expected and a sign of more trouble ahead for the beleaguered housing market, a real estate trade group report showed on Tuesday.


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    Tue, 08 Jul 2008 14:35:06 GMT - Yahoo! News: Economy News
    Pending home sales fall 4.7 percent (AP)
    AP - A measurement of pending home sales fell to the third-lowest reading on record in May as the housing market's recovery continued to prove elusive. -- read full article
    Tue, 08 Jul 2008 15:05:16 GMT - Yahoo! News: Economy News
    Obama proposes easing consumer bankruptcy laws (Reuters)

    Democratic presidential candidate Senator Barack Obama speaks during a town hall meeting at McEachern High School in Powder Springs, Georgia, July 8, 2008. (Tami Chappell/Reuters)Reuters - Democratic presidential candidate Barack Obama proposed overhauling bankruptcy laws on Tuesday to ease the impact on people unable to pay their bills because of medical expenses or military service.


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    Tue, 08 Jul 2008 15:18:16 GMT - Yahoo! News: Economy News
    Fed may keep open lifeline as housing distress continues (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 - Federal Reserve Chairman Ben Bernanke said on Tuesday the U.S. central bank might keep open a lifeline to financial firms, while the latest data showed distress in the housing and retail sectors continues.


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    Tue, 08 Jul 2008 15:55:19 GMT - Yahoo! News: Economy News
    Fed plans new rules to protect future homebuyers (AP)

    Federal Reserve Chairman Ben Bernanke delivers remarks at the FDIC Forum on Mortgage Lending for Low and Moderate Income Households, Tuesday, July 8, 2008, in Arlington, Va. (AP Photo/Luis M. Alvarez)AP - The Federal Reserve will issue new rules next week aimed at protecting future homebuyers from dubious lending practices, its most sweeping response to a housing crisis that has propelled foreclosures to record highs.


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    Tue, 08 Jul 2008 17:12:00 GMT - Yahoo! News: Economy News
    ConocoPhillips 2Q production falls as planned (AP)
    AP - ConocoPhillips, the third-largest U.S. oil company, said Tuesday its global production fell as expected in the second quarter because of planned maintenance, but it benefited from higher oil and natural gas prices. -- read full article
    Tue, 08 Jul 2008 17:14:06 GMT - Yahoo! News: Economy News
    SEC finds shortcomings in credit raters (Reuters)
    Reuters - Credit rating agencies did not properly manage their conflicts of interests when assigning ratings to structured products such as mortgage-backed securities, a report by the U.S. Securities and Exchange Commission said on Tuesday. -- read full article
    Tue, 08 Jul 2008 17:30:20 GMT - Yahoo! News: Economy News
    Stocks rise modestly on oil decline, Bernanke talk (AP)

    Elizabeth Millea of Bear Wagner Specialists looks at an overhead monitor from the floor of the New York Stock Exchange, Tuesday, July 8, 2008 in New York. Wall Street fluctuated Tuesday, with investors still jittery about the nation's ailing financial system but relieved to hear Federal Reserve chairman Ben Bernanke say the central bank might extend its lending efforts to investment banks. (AP Photo/Henny Ray Abrams)AP - Wall Street struggled to notch a gain Tuesday amid sinking oil prices, with investors still jittery about the ailing financial system and weak economy ahead of second-quarter earnings.


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    Tue, 08 Jul 2008 18:32:12 GMT - Yahoo! News: Economy News
    Rates fall in weekly Treasury bill auction (AP)
    AP - Interest rates on short-term Treasury bills fell in Monday's auction. -- read full article
    Mon, 07 Jul 2008 19:25:28 GMT - Yahoo! News: Economy News
    Costly gas crimps surfers' style, roils industry (AP)

    Nick Risse looks over their line of surfboards at Surftech in Huntington Beach, Calif., Friday, June 27, 2008. The industry depends on petroleum-based products to build and ship its boards. And surfers in search of the biggest waves have to dig deeper into the pockets to fill their gas tanks or book flights to the best breaks around the world, including far-flung places like South Africa and Tahiti. (AP Photo/Chris Carlson)AP - For years, Chris Mauro took a 10-mile detour on his way to work each morning to check out the swells at his favorite surf break and plot the best location for his afterwork wave-riding.


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    Mon, 07 Jul 2008 20:46:08 GMT - Yahoo! News: Economy News
    Despite economic uncertainties, many Americans still traveling (AP)

    Pamela Hurley-Moser, owner of Hurley Travel Experts, poses Wednesday July 2, 2008 at her agency in Portland, Maine. Hurley recently hosted a 'Luxury Explorers' Showcase'  about African Safaris, tours of the Amazon and Galapagos, private jet charters and even space tourism. Hurley-Moser said not all of the attendees were loaded with money, but all had one thing in common: They had no intention of canceling travel. 'There are many people who absolutely can't afford to travel (right now). Then there's a middle range where people are going to scrimp and save in almost every other area in their life so that they can do a trip,' said Hurley-Moser.  (AP Photo/Joel Page)AP - High gas prices may mean fewer families will be headed to the beach or the mountains this summer, but rising prices likely won't be keeping wealthy people from missing out on vacation.


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    Mon, 07 Jul 2008 21:28:23 GMT - Yahoo! News: Economy News
    Congress frets as its ratings plummet (The Christian Science Monitor)
    The Christian Science Monitor - Members of Congress are used to working in an institution that gets no respect, but a recent plunge to the bottom of confidence ratings – and a week back home with constituents riled over gas prices – is raising alarms even on thick-skinned Capitol Hill. -- read full article
    Tue, 08 Jul 2008 08:00:00 GMT - Yahoo! News: Economy News
    G8 sees downside economy risks, prods China on yuan (Reuters)
    Reuters - The Group of Eight industrial nations expressed strong concern on Tuesday about sky-high food and oil prices, which they said posed risks for a global economy under serious financial strain. -- read full article
    Tue, 08 Jul 2008 08:01:44 GMT - Yahoo! News: Economy News
    Jobs market in for weak spell (Reuters)
    Reuters - The Conference Board said on Monday there was little reason to expect the U.S. labor market to recover in the months ahead after its jobs index fell in June to its lowest since late 2004. -- read full article
    Mon, 07 Jul 2008 14:52:25 GMT - Yahoo! News: Economy News
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