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DETROIT (Reuters) - The Big 3 Detroit-based automakers are seeking about $25 billion in federal loans as they struggle to ride out a steep downturn in U.S. auto sales, The Wall Street Journal reported on Friday.
Lobbyists for the U.S. automakers -- Gene..
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SACRAMENTO (AP) -- California's Republican lawmakers on Sunday rejected a Democratic proposal for $6.6 billion in tax increases on the wealthy and corporations despite an offer to boost the state's rainy day fund. The failed vote now pushes California's b..
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WASHINGTON (AP) -- The U.S. trade deficit unexpectedly fell in June as exports advanced to an all-time high, offsetting another big surge in oil imports.
The Commerce Department reported Tuesday the trade imbalance dropped to $56.8 billion in June, down..
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The U.S. trade deficit contracted in June, according to a government report released Tuesday, surprising economists who expected an increase.
The Commerce Department reported that imports exceeded exports in June by $56.8 billion, down from a revised $59..
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WASHINGTON (AP) -- The U.S. Department of Agriculture has raised its estimates of corn production and says improved weather has helped Midwestern farmers recover from June's devastating floods.
The department forecast Tuesday that farmers will harvest 12..
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NEW ORLEANS (AP) -- The federal government has agreed to give Louisiana 30 years to repay $1.8 billion for levee improvements in the New Orleans area.
Congress had initially said the money would need to be repaid by 2011. But state officials said they ne..
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WASHINGTON (AP) -- The Postal Service had a net loss of more than a billion dollars in the third quarter of the fiscal year, the agency said Wednesday.
For the quarter ended June 30, the loss was $1.1 billion, which officials blamed on reduced mail volum..
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NEW YORK (AP) -- Treasury bond prices fell Wednesday, pressured by strong demand for the government's sale of new 10-year notes.
The Treasury Department's auction of $17 billion in 10-year notes was well received, drawing an average yield of 4.075 percen..
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Treasury prices fell again Wednesday, as investors geared up for $17 billion of new government debt that will be auctioned off in the afternoon.
The benchmark 10-year note fell 5/32 to 99 11/32 and its yield rose to 3.96%. Bond prices and yields move in..
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WASHINGTON (AP) -- Interest rates on short-term Treasury bills rose in Monday's auction with rates on three-month bills rising to the highest level in a month.
The Treasury Department auctioned $25 billion in three-month bills at a discount rate of 1.710..
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NEW YORK--(BUSINESS WIRE)--Fitch Ratings has affirmed Kimberly-Clark Corporations ratings as follows:
--Issuer Default Rating (IDR) at 'A';
--Short-term IDR at 'F1';
--Commercial paper at 'F1';
--$1.5 billion revolving credit facility at 'A';
--Senio..
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RICHMOND, Va.--(BUSINESS WIRE)--Owens & Minor (NYSE:OMI - News) today reported financial results for the second quarter ended June 30, 2008. Revenue for the quarter was $1.79 billion, improved 6.9% from revenue of $1.68 billion in the second quarter last..
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WASHINGTON (Reuters) - The Bush administration on Monday cut its budget deficit forecast for the current year but expanded it to a record $482 billion for 2009 as the weakening U.S. economy slows revenues and spending remains high.
The White House said..
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Americans drove 9.6 billion fewer miles in May compared with a year earlier, according to a report Monday from the Federal Highway Administration.
"We have seen the longest decline in vehicular miles traveled since we started collecting this data," said..
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WASHINGTON (Reuters) - The Bush administration on Monday plans to project the U.S. budget deficit will soar to a new record of nearly half a trillion dollars in fiscal 2009 as the economic outlook darkens and Americans elect a new president.
The forecas..
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BETHESDA, Md. (AP) -- Lockheed Martin Corp. said Tuesday that second-quarter earnings rose 13 percent as a drop in its fighter jet business was offset by higher sales in its space, electronic systems and information technology units.
The nation's largest..
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NEW YORK (AP) -- Treasury prices fell slightly Monday after better-than-expected earnings from Bank of America Corp. motivated investors to put money back into the stock market.
Bank of America's second-quarter profit tumbled 41 percent from the year-ago..
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WASHINGTON--(BUSINESS WIRE)--The European Commission today proposed to establish a special finance facility to respond to soaring food prices in developing countries. The fund would be worth 1 billion euros (1.6 billion dollars) and would operate for two..
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NEW YORK--(BUSINESS WIRE)--Citigroup Inc. (NYSE: C - News) today reported a net loss for the 2008 second quarter of $2.5 billion, or $0.54 per share, based on 5,287 million shares outstanding.(1) Solid results in the core franchise were offset by write-do..
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BANGKOK, Thailand (AP) -- Thailand's Cabinet unveiled a $1.4 billion package of tax cuts and waivers for the poor Tuesday in a bid to bolster the struggling economy and boost the embattled government's popularity.
Prime Minister Samak Sundaravej announce..
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