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Dow Jones industrial average posts triple-digit loss for third straight day

The stock market sank into its worst three-day slide Friday since the depths of last year’s financial crisis as investors fretted about President Obama’s bank regulation plan and Ben S. Bernanke’s future as chairman of the Federal Reserve. Read the rest here: Dow Jones industrial average posts triple-digit loss …

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Obama scrambles to revive economic optimism (AP)

AP – President Barack Obama is seeking to reassure voters he’s determined to create jobs while his administration is trying to protect an architect of the increasingly unpopular banking bailout that may have helped prevent a financial collapse. See the rest here: Obama scrambles to revive economic optimism …

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Goldman Sachs Reports Higher Profits, Bonuses

Goldman Sachs Group Inc. said it earned $4.79 billion in the fourth quarter as the bank’s trading business again outdistanced the rest of the financial industry. The company rewarded its employees with $16.2 billion in salaries and bonuses for 2009, up 47 percent from the previous year but still …

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BANKRUPTCY: 2009 Bankruptcy Filings Up 2 Percent

http://www.memphisdailynews.com/editorial/Article.aspx?id=47270 Read the rest here: BANKRUPTCY: 2009 Bankruptcy Filings Up 2 Percent

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JAL’s main banks to agree to bankruptcy plan: sources (Reuters)

Reuters – The main creditor banks of Japan Airlines (9205.T) are in the final stages of deciding to accept a plan to put the carrier through bankruptcy as part of a state-led restructuring, three sources familiar with the matter said. See the rest here: JAL’s main banks to agree to bankruptcy …

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Ford surges as U.S auto sales end year on uptick

DETROIT (Reuters) – Ford Motor Co posted a 33 percent sales gain for December as U.S. auto sales ended 2009 on an upswing after a tumultuous year that saw GM and Chrysler collapse into bankruptcy and China overtake the United States as the biggest car market. See the rest here: Ford …

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Citadel Broadcasting files bankruptcy protection (Reuters)

Reuters – Citadel Broadcasting Corp , the third-largest U.S. radio broadcaster, said on Sunday it filed for the bankruptcy protection, as the radio industry continues to be hard hit by depressed advertising revenue. See the rest here: Citadel Broadcasting files bankruptcy protection (Reuters)

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McCain backs bills that would split big banks

WASHINGTON – (AP) Two senators, one from each party, called Wednesday for breaking up large financial firms that perform both commercial and investment banking, adding a wrinkle to already difficult talks in the Senate on how to regulate Wall Street. Sens. John McCain, the former Re See the rest here: McCain backs …

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Wamu asks to probe Fed over collapse

WILMINGTON, Delaware (Reuters) – Bankrupt holding company Washington Mutual Inc asked a federal court to compel the U.S. Federal Reserve, U.S. Treasury and more than a dozen others to turn over documents relating to its collapse in 2008. Read the rest here: Wamu asks to probe Fed over collapse

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What You Should Know About Store Credit Cards

It might be tempting to open a store-only credit card, especially when you’re about to make a big purchase and retailers offer big discounts to open an account on the spot. See the rest here: What You Should Know About Store Credit Cards

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