Tag: business

A trade war with China is a bad idea

The U.S. placed tariffs on Chinese tires, and China struck back with a probe of U.S. chickens. The tension needs to pass. Protectionism could hurt a recovery. NEW YORK (CNNMoney.com) — Great. The global economy finally starts to show... 
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Geithner Sets Limits on Lobbying for Bailout Money

WASHINGTON — The new Treasury secretary, Timothy F. Geithner, announced on Tuesday that he would crack down on lobbying to influence the $700 billion financial bailout program by companies that are receiving billions in taxpayer money. Timothy... 
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For the Jobless, Hope and Fear for a New Day

COLUMBIA, S.C. — Joe Lewis came to the local employment office on Friday in the hope of buying a little more time. Residents of Columbia, S.C., visiting the employment security commission to seek jobs or file for unemployment benefits. Four... 
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Rubin Leaving Citigroup; Smith Barney for Sale

Citigroup signaled a breakup of its unwieldy financial supermarket model with a possible deal to sell a share of its prized retail brokerage business to Morgan Stanley, said several people with knowledge of the discussions, underscoring the... 
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Small retailers struggle with recession, weather

Consignment store sees bright spot as people flock to discounts Henry Burton will never know whether the snow that blanketed Seattle during the holiday season was a blessing or a curse. The unusually heavy snowfall and cold temperatures left... 
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Austria’s ‘Woman on Wall St.’ Now Out of Sight

VIENNA — With an aggressive style that stood out in the staid world of Austrian banking even more than her bouffant red wig, Sonja Kohn made few friends gathering billions for Bernard L. Madoff from wealthy investors in Russia and across Europe. Sonja... 
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The Irish Economy’s Rise Was Steep, and the Fall Was Fast

IT’S 3 a.m. at Doheny & Nesbitt, a favorite watering hole of Dublin’s political and business elite, and the property tycoon Sean Dunne stoops to retrieve a penny from the pub’s grimy floor. The developer Sean Dunne and his wife, Gayle... 
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Markets Surge on the First Trading Day of the New Year

Wall Street began the new year with a surge on Friday, closing above 9,000 for the first time since early November and offering some optimism about the year as a whole. At the close, the Dow Jones industrial average was 258.30 points, or 2.9... 
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Russia shuts off gas to Ukraine

Russia has stopped all gas supplies to Ukraine after the collapse of talks to end a row over unpaid bills and prices. Much of the EU's gas from Russia arrives via Ukraine Russia’s gas giant Gazprom said it turned off the taps at 0700... 
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After a Season of Cutting, Stores Sweeten Discounts

For weeks, reluctant consumers have forced retailers to lower their prices — and lower them again and again — before they even considered opening tight wallets and purses. Now shoppers are expecting even better deals, as they do every year,... 
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