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News & Current Affairs |
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NYT > World Business
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Now Europeans Are Slower to Spend, and It Shows
For the first time in more than a decade, consumers in much of Europe are buying less than they did a year earlier, helping to slow economies that may have fallen into recession.
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U.S. Rescue Seen at Hand for 2 Mortgage Giants
A plan would replace the leaders of Fannie Mae and Freddie Mac and virtually wipe out their shareholders but let them continue to work with the government standing behind their debt.
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Union Leader?s Legacy May Be Hard to Match
Basil E. Hargrove, president of the Canadian Auto Workers union, enjoys a public profile in Canada that arguably has not been matched since the days of Walter P. Reuther and Jimmy Hoffa.
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Big Summer Sell-Off Hits the Russian Stock Market
Russia?s stock market is suffering its worst correction in nearly a decade as sliding oil prices, political attacks on private companies and instability after last month?s war in Georgia spook investors.
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Mexican Court Rules Against Wal-Mart
Mexico?s Supreme Court ruled that the country?s top retailer violated the Constitution by paying a worker in part with store cards usable only in Wal-Mart stores.
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Main Bank of China Is in Need of Capital
China?s central bank is in a bind, after snapping up roughly $1 trillion worth of Treasury bonds and mortgage-backed debt issued by Fannie Mae and Freddie Mac over the last seven years.
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Stocks Withstand Jump in Jobless Rate
Wall Street managed a slight gain on Friday, a day after concerns about the economy, and in particular the labor market, sent the Dow plunging. Markets in Europe and Asia ended the day lower.
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Two Banks in Europe Stand Pat on Rates
Both the European Central Bank and the Bank of England kept their key interest rates unchanged Thursday amid concerns of high inflation and a slowing economy.
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Russia?s Oligarchs May Face a Georgian Chill
Some policy makers are starting to suggest that the best way to influence the Kremlin would be to put more pressure on the Russian business community in Europe.
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BP Makes Deep Concessions in Agreement With Russian Partner
BP agreed to replace the American head of its Russian joint venture and surrender some control on the board to resolve a bitter dispute with its Russian partners.
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