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Saturday, 17-May-2008 12:30:02 EDT
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  • Fed's Lockhart says world will feel U.S. slowdown (Reuters)

    A pedestrian walks past the New York Stock Exchange in New York January 9, 2008. U.S. exports have been helped by a weaker dollar and this is providing a boost to an otherwise weak economy, Federal Reserve Bank of Atlanta President Dennis Lockhart said on Saturday. (Lucas Jackson/Reuters)Reuters - U.S. exports have been helped by a weaker dollar and this is providing a boost to an otherwise weak economy, Federal Reserve Bank of Atlanta President Dennis Lockhart said on Saturday.


  • Wall St ends flat as energy gains offset sentiment (Reuters)

    Traders work on the floor of the New York Stock Exchange, April 29, 2008. (Brendan McDermid/Reuters)Reuters - Stocks finished little changed on Friday as surging oil prices lifted energy shares and offset data that showed consumer confidence sank to its lowest in 28 years.


  • Consumers' mood as grim as early-80s (Reuters)

    Consumer sentiment plunged in May to the lowest since June 1980 thanks largely to soaring food and fuel prices, according to the latest (University of Michigan survey of consumers. REUTERS/Graphics/Reuters)Reuters - U.S. consumer confidence tumbled to a 28-year low this month as rising prices strained household finances, while another drop in single-family housing starts underscored problems still plaguing the economy.





  • AIG to set up services, data centers in Malaysia (Reuters)
    Reuters - American International Group Inc plans to establish a global shared services and data centers in Malaysia through one of its subsidiaries, the insurance giant said on Saturday.
  • American Axle and UAW reach tentative agreement (Reuters)

    United Auto Worker union members picket outside the American Axle Manufacturing plant as workers reject demands for steep wage cuts from the auto parts supplier in Hamtramck, Michigan February 26, 2008. he United Auto Workers and American Axle  and  Manufacturing Holdings Inc  (Rebecca Cook/Reuters)Reuters - The United Auto Workers and American Axle & Manufacturing Holdings Inc reached a tentative contract agreement late Friday aimed at ending an 11-week-long strike that had triggered thousands of layoffs and cost General Motors Corp at least $1 billion.


  • Treasury secretary says markets are calmer now (AP)

    In this Feb. 17, 2007 file photo, bilingual signs are prominent in Chicago's first Wal-Mart.  Wal-Mart Stores, the world's largest retailer, posted a 6.9 percent increase in first-quarter profits, Tuesday, May 13, 2008, helped by improved customer service, better inventory control and strong international sales. The results beat Wall Street's projections by a penny, but the company issued a cautious outlook for the current quarter and warned that the economy will be a 'critical factor' in 2008. (AP Photo/Charles Rex Arbogast, file)AP - Treasury Secretary Henry Paulson said Friday that financial markets are "considerably calmer" now than they were two months ago. He predicted the economy will be rebounding by the second half of this year.


  • SMFG posts big rebound, forecasts modest growth (Reuters)
    Reuters - Sumitomo Mitsui Financial Group (8316.T) reported a threefold increase in fourth-quarter profit, rebounding from massive losses at its consumer finance unit a year earlier, and it forecast modest growth ahead.
  • Abercrombie profit edges up on sales increase (AP)
    AP - Teen retailer Abercrombie & Fitch Co. said Friday that its first-quarter earnings rose 3 percent from a year ago on stronger sales.


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