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Berkshire Hathaway's net income triples
Published Saturday, Nov. 7, 2009
Warren Buffett's Berkshire Hathaway Inc on Friday said third quarter net income tripled, as rising stock markets boosted its investment holdings and a quiet hurricane season contributed to higher insurance profit.
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Opel chief leaves following failed deal
Published Saturday, Nov. 7, 2009
General Motors Co GM.UL said on Friday the head of its European operations, Carl-Peter Forster, is leaving, three days after the automaker's decision to scrap a planned sale of its Opel unit.
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U.S. jobless rate surges to 10.2 percent
Published Saturday, Nov. 7, 2009
The U.S. jobless rate unexpectedly jumped to 10.2 percent last month, a 26-1/2-year high, adding to pressure on the Obama administration to do more to tackle unemployment even as signs of recovery mount.
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AIG posts second straight profit
Published Saturday, Nov. 7, 2009
AIG, the giant insurer bailed out by the U.S. government, posted its second straight quarterly profit, helped by recovery in the value of its investments, but its underlying business remained weak and its shares fell.
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Freddie Mac posts $5 billion loss
Published Saturday, Nov. 7, 2009
Freddie Mac (FRE.N) (FRE.P), the second largest provider of U.S. residential mortgage funding, said on Friday it lost $5 billion in the third quarter and predicted it would require further support from the Treasury amid a "prolonged deterioration" in housing.
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Productivity surges, job growth should follow
Published Friday, Nov. 6, 2009
U.S. business productivity grew at its fastest clip in six years in the third quarter and new claims for jobless aid fell to a 10-month low last week, suggesting the labor market may be starting to bottom out.
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Fannie Mae posts $18.9 billion Q3 loss, taps Treasury
Published Friday, Nov. 6, 2009
Fannie Mae, the largest provider of funding for U.S. home loans, said on Thursday bad mortgages and a federal foreclosure prevention program left it with a $18.9 billion loss, forcing it to tap the Treasury again to plug a hole in its net worth.
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Insider trading case as much Sopranos as Wall Street
Published Friday, Nov. 6, 2009
Zvi Goffer could have passed for Tony Soprano when he warned confederates in his alleged insider-trading ring that "someone's going to jail."
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SEC deal may prove false dawn for Alabama county
Published Friday, Nov. 6, 2009
A deal between U.S. regulators and J.P. Morgan Securities to settle charges over secret payments to Alabama's Jefferson County may prove a false dawn for the debt-ridden county.
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Insider trading probe ensnares 14 more
Published Friday, Nov. 6, 2009
Fourteen people were charged with fraud and conspiracy in a dramatic widening of an insider trading scandal that has ensnared hedge fund managers, top Silicon Valley executives and a bevy of white-shoe advisers.
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Starbucks beats view, raises target
Published Friday, Nov. 6, 2009
Starbucks Corp reported a stronger-than-expected quarterly profit and raised its forecast, in the latest signs that the chain is turning around after closing cafes and slashing costs, and its shares rose 4.1 percent.
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U.S. services sector grows, job losses slow
Published Thursday, Nov. 5, 2009
The U.S. services sector grew modestly for a second month in a row in October and private sector employers cut jobs at the slowest pace in more than a year, adding to signs the economy is crawling back to health.
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News Corp profit better than expected, shares up
Published Thursday, Nov. 5, 2009
News Corp reported a higher-than-expected quarterly profit as gains at its Fox cable network and film divisions, plus cost cuts, helped offset declines at its television stations and newspapers.
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Dollar reserve status seen in slow slide
Published Thursday, Nov. 5, 2009
The dollar's edge as the world's leading reserve currency will be chipped away only slowly, and it is likely to remain dominant for many years, a Reuters poll of foreign exchange strategists showed.
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Cisco beats forecasts, points to recovery
Published Thursday, Nov. 5, 2009
Cisco Systems Inc posted a stronger-than-expected quarterly profit and signaled that recovery was well on its way, as businesses are investing in network equipment again after cutting back for the past year.
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