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Market may be up, but the scars of 2008 are fresh

Mar 9, 2012

By DAVE CARPENTER, Associated Press

CHICAGO (AP) — Cheryl and Jim Friedman, retirees in St. Louis, had two-thirds of their retirement money in the stock market in 2008. When the financial crisis struck that fall and stocks lurched up and down with nauseating speed, Cheryl, a former accountant,

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6 bids made for yearlong removal of Costa ship

Mar 9, 2012

By NICOLE WINFIELD, Associated Press

ROME (AP) — The Italian owners of the Costa Concordia ship that capsized off the Tuscan coast are considering six proposals to remove the vessel — a massive, yearlong operation that may involve breaking up the massive liner.

Costa Crociere SpA said in a ...

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After quakes, Ohio plans tough gas-drilling rules

Mar 9, 2012

By JULIE CARR SMYTH, Associated Press

COLUMBUS, Ohio (AP) — A dozen earthquakes in northeastern Ohio were almost certainly induced by injection of gas-drilling wastewater into the earth, state regulators said Friday as they announced a series of tough new rules for drillers.

Among the new ...

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American Airlines jet delayed by 'altercation'

Mar 9, 2012

By CARLA K. JOHNSON and DAVID KOENIG, Associated Press

DALLAS (AP) — Passengers on American Airlines Flight 2332 were settling in for a trip to Chicago on Friday when they say a flight attendant took over the public-address system and launched into a rant that included references to 9-11 and the ...

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Gasoline prices level off this week

Mar 9, 2012

By CHRIS KAHN, Associated Press

NEW YORK (AP) — Gasoline prices paused this week in their march toward $4 per gallon.

After 39 straight days of increases, prices fell nearly a penny from Tuesday to Thursday and held steady on Friday at $3.758 per gallon. The lull won't last long.

Prices dipped ...

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Canadian unemployment dips to 7.4 percent

Mar 9, 2012

TORONTO (AP) — Canadians struggled to find work in February as job creation fell short of expectations with 2,800 positions lost in the month, continuing a trend of disappointing numbers since the summer.

The unemployment rate dropped to 7.4 percent from 7.6 percent in January as more people ...

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Bank of America to reduce loans for homeowners

Mar 9, 2012

NEW YORK (AP) — Bank of America is providing mortgage relief to about 200,000 homeowners.

Homeowners that qualify are those whose home values have fallen below what they owe on their mortgages. Bank of America will reduce the amount owed by the homeowners by as much as $100,000 in some cases. Only ...

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Fannie, Freddie CEO pay limited, bonuses cut

Mar 9, 2012

By DEREK KRAVITZ, Associated Press

WASHINGTON (AP) — The government says it will cap pay for Fannie Mae and Freddie Mac chief executives at $500,000 per year and eliminate annual bonuses for all employees. The changes come after Congress pressured the government to stop big payouts at the ...

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Wholesale inventories rose 0.4 percent in January

Mar 9, 2012

By MARTIN CRUTSINGER, Associated Press

WASHINGTON (AP) — Wholesale businesses increased their stockpiles in January although sales fell for the first time in eight months.

Inventories at the wholesale level increased 0.4 percent in January following an even larger 1.1 percent gain in December,

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Survey ranks Google highly despite privacy fears

Mar 9, 2012

By MICHAEL LIEDTKE, Associated Press

SAN FRANCISCO (AP) — Google is almost everyone's favorite search engine, despite misgivings about data-collection and advertising practices that are widely seen as intrusive.

A survey of released Friday by the Pew Internet & American Life Project found 83 ...

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Carnival in rough seas as cruise season starts

Mar 9, 2012

By SAMANTHA BOMKAMP, Associated Press

NEW YORK (AP) — Carnival Corp. cut its profit forecast nearly in half Friday, another sign of the challenges the company and cruise industry face after the capsizing of the Costa Concordia in January.

Cruise line operators entered 2012 thinking they could ...

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Students in Britain protest Strauss-Kahn speech

Mar 9, 2012

By JILL LAWLESS, Associated Press

CAMBRIDGE, England (AP) — About 100 students protested Friday ahead of a speech at Cambridge University by Dominique Strauss-Kahn, the former International Monetary Fund chief whose career collapsed after he was charged with sexual assault.

The 62-year-old French ...

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Freddie asks for just $146M in aid after better 4Q

Mar 9, 2012

By DEREK KRAVITZ, Associated Press

WASHINGTON (AP) — Government-controlled mortgage giant Freddie Mac has requested just $146 million in additional aid after posting a smaller loss in the fourth quarter of last year.

That's far less than in the third quarter, when Freddie received $6 billion from ...

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Greek bailout gives Europe time to build defenses

Mar 9, 2012

By PAUL WISEMAN, Associated Press

WASHINGTON (AP) — Greece got the rescue. But it's the rest of Europe that's breathing easier.

A $172 billion (€130 billion) bailout isn't likely to keep Greece from eventually defaulting on its debts and abandoning the euro, many economists say.

The sad truth ...

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Stocks rise modestly on February jobs report

Mar 9, 2012

By DANIEL WAGNER, Associated Press

Stocks closed modestly higher Friday after the government's monthly report on employment bolstered hopes that the economic recovery is on track. The gains were tempered by news that a big debt write-down by Greece could cause big losses for banks.

Three years ...

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US trade deficit grew to 3-year high in January

Mar 9, 2012

By MARTIN CRUTSINGER, Associated Press

WASHINGTON (AP) — The U.S. trade deficit surged in January to the widest imbalance in more than three years after imports grew faster than exports.

Rising oil prices helped drive imports to a record high, as did stronger demand for foreign-made cars,

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Strong 3 months of hiring as US adds 227,000 jobs

Mar 9, 2012

By CHRISTOPHER S. RUGABER, Associated Press

WASHINGTON (AP) — The United States added 227,000 jobs in February, the latest display of the breadth and strength of the economic recovery. The country has put together the most impressive three months of job growth since before the Great Recession.

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Spanish unions call general strike over reforms

Mar 9, 2012

By CIARAN GILES, Associated Press

MADRID (AP) — Spanish labor unions mounted their first significant challenge to the country's new government Friday when they called for a general strike for March 29 to protest against new labor reforms and austerity measures.

The labor reforms, passed last ...

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OPEC sees flat oil market for 2012

Mar 9, 2012

VIENNA (AP) — OPEC is predicting a flat market for oil due to weak economic performance in developed nations.

The Organization of the Petroleum Exporting Countries' latest monthly forecast sees world oil demand to grow by 900,000 barrels a day — unchanged from its previous report.

In its forecast ...

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Poland pulls food suspected of having road salt

Mar 9, 2012

WARSAW, Poland (AP) — Polish health authorities have ordered the withdrawal from the market of more than 230,000 kilograms (500,000 pounds) of pickles, bread and other food suspected of containing industrial salt, the latest development in a scandal raising fears about food safety.

Laboratory ...

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