Yahoo! News: Business
Tue, 06 Jan 2009 23:12:59 GMT
Alcoa to slash jobs and sell 4 units (Reuters)
 Reuters - Alcoa Inc said on Tuesday it would slash more than 15,000 jobs, halve capital spending and sell four businesses as it reduces aluminum production in the face of the global economic downturn.
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Wed, 07 Jan 2009 02:32:14 GMT
Bank of America selling $2.8 billion (Reuters)
 Reuters - Top U.S. lender Bank of America , raising cash to weather a dismal market at home, is selling a $2.83 billion chunk of its holding in China Construction Bank (0939.HK) at a 12 percent discount on Wednesday, according to a term sheet obtained by Reuters.
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Tue, 06 Jan 2009 23:13:58 GMT
U.S. budget deficit seen topping $1 trillion in 2009 (Reuters)
 Reuters - Politicians want American consumers to resume spending to pull the economy out of its tailspin, and the U.S. government is leading by example with a potential $1 trillion deficit in 2009 -- even before a massive stimulus plan.
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Tue, 06 Jan 2009 22:13:46 GMT
Stocks rise on stimulus plan hopes (Reuters)
 Reuters - Stocks gained on Tuesday on the increased likelihood of a government stimulus package after the release of minutes from the last Federal Reserve policy meeting painted a dismal picture of the U.S. economy.
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Tue, 06 Jan 2009 23:02:23 GMT
Fed and other agencies to join U.S. fraud task force (Reuters)
 Reuters - The U.S. government is beefing up a task force to fight mortgage crimes and safeguard federal financial bailouts, the U.S. Justice Department said on Tuesday.
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Tue, 06 Jan 2009 17:11:08 GMT
FTSE-100 up 59.28 points at 4,638.92 (AP)
AP - Share prices on the London Stock Exchange closed up Tuesday. [more info]
Tue, 06 Jan 2009 22:29:25 GMT
Leading Democrat offers mortgage aid bill (Reuters)
Reuters - The second-ranking Democrat of the U.S. Senate on Tuesday introduced legislation that would let bankruptcy judges erase some mortgage debt in an effort to stem foreclosures. [more info]
Tue, 06 Jan 2009 15:55:42 GMT
Madoff scandal, SEC role under scrutiny (AP)
 AP - Two more months of mortgage payments and retiree Allan Goldstein says he'll be broke, just another victim in what may be the biggest Ponzi scheme in history.
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