Tuesday, Oct. 14, 2008
NEW YORK -- Wall Street stormed back after its worst week ever and staged the biggest single-day stock rally since the Great Depression on Monday, catapulting the Dow Jones industrials to a 936-point gain and finally offering relief from eight consecutive days of stock market carnage.
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Tuesday, Oct. 14, 2008
WASHINGTON -- The Treasury Department and Federal Reserve will announce a new, comprehensive financial rescue package today that includes guaranteeing loans between banks and taking direct stakes in troubled banks.
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Tuesday, Oct. 14, 2008
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WASHINGTON -- Democrat Barack Obama on Monday proposed $60 billion worth of new ideas to stimulate the ailing economy, including a tax credit to prod companies to hire more workers and a new way for consumers to cash out up to 15 percent of their IRAs or 401(k)s with no early-withdrawal penalties.
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Monday, Oct. 13, 2008
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WASHINGTON -- The Bush administration plans to spend as much as $250 billion of the $700 billion bailout buying stock in private banks, greatly expanding protections for the U.S. financial system out of deep unease over the faltering economy, industry and government officials said Monday night. President George W. Bush planned to announce details Tuesday morning.
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Monday, Oct. 13, 2008
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NEW YORK -- Wall Street stormed back from last week's devastating losses Monday, sending the Dow Jones industrials soaring a nearly inconceivable 936 points after major governments' plans to support the global banking system reassured distraught investors. All the major indexes rose more than 11 percent.
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Monday, Oct. 13, 2008
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An inflatable gorilla beckoned from the roof of Don Brown Chevrolet in St. Louis, servers doled out free bowls of pasta and a salesman urged potential customers to "come on up under the canopy and put your hands on" a new set of wheels.
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Saturday, Oct. 11, 2008
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WASHINGTON -- President Bush met with foreign financial officials Saturday and pledged a global response to the credit crisis that will lead toward a "path of stability and long-term growth."
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Saturday, Oct. 11, 2008
WASHINGTON -- Finance officials from the world's top economic powers endorsed a plan Friday to stem the worst financial crisis in more than a half-century.
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Saturday, Oct. 11, 2008
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DENVER -- Prices at the pump are dropping fast, and gas could fall below $3 a gallon in a matter of weeks, if not sooner. Does that mean Americans will return to their heedless, gas-guzzling ways?
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Thursday, Oct. 9, 2008
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WASHINGTON -- The Bush administration is considering taking part ownership in certain U.S. banks as an option for dealing with a severe global credit crisis.
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Thursday, Oct. 9, 2008
Shoppers browse inside a Wal-Mart Supercenter on Oct. 2 in Rosemead, Calif. As retailers report their sales figures Wednesday, it's clear that shoppers stuck to buying the essentials and looked for bargains. Among the best performers were Wal-Mart Stores Inc. and Costco Wholesale Corp.
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Thursday, Oct. 9, 2008
NEW YORK -- Oil prices closed down Wednesday after touching their lowest level this year, pressured by a huge jump in U.S. crude inventories and more signs of dwindling demand.
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Wednesday, Oct. 8, 2008
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Research in Motion Ltd., maker of the BlackBerry, is taking on Apple Inc. with a touch-screen phone that puts a new twist on the technology.
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Tuesday, Oct. 7, 2008
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NEW YORK -- The misery worsened on Wall Street Tuesday, with stocks piling on the losses late in the session and bringing the two-day decline in the Dow Jones industrials to more than 875 points amid escalating worries about credit markets and financial sector. The Dow lost more than 500 points and all the major indexes slid more than 5 percent.
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Tuesday, Oct. 7, 2008
WASHINGTON -- The Federal Reserve announced Tuesday a radical plan to buy massive amounts of short-term debt in a dramatic effort to break through a credit clog that is imperiling the economy.
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