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Fed's Rosengren says recession more severe than thought (Reuters)

08-01-2009 19:22

Reuters - The U.S. recession looks to be longer and more severe than originally thought, but there are signs that the economy will improve in the second half of 2009, a top Federal Reserve official said on Thursday.

Chevron sees big drops in Q4 production and earnings (Reuters)

08-01-2009 18:59

A Chevron Corporation gasoline tank truck delivers gas to a Chevron service station in Redondo Beach, California August 10, 2005. (Fred Prouser/Reuters)Reuters - Chevron Corp expects its fourth-quarter earnings to be significantly lower than the previous quarter due to the impact of lower energy prices on its exploration and production business.

Stores' dismal December means prices should fall (AP)

08-01-2009 18:27

Pedestrians walk past Generations Menswear on 8th Ave. in New York Wednesday, Jan. 7, 2009. Retailers are reporting dismal sales for December, confirming fears that the holiday season was the weakest in four decades.  (AP Photo/Craig Ruttle)AP - Dismal sales figures for the holiday shopping season are probably a sign of worse to come for merchants in 2009 — not only more sharp discounts and cheaper groceries but probably fewer stores.

Considering dumping a mutual fund? Think twice (AP)

08-01-2009 17:46

AP - Fiscal fitness is knocking weight loss off the top of many New Year's resolution lists, thanks to 2008's market drubbing. That often means casting off last year's worst-performing mutual funds for more promising alternatives.

Citi backs Senate mortgage bankruptcy reform: senators (Reuters)

08-01-2009 17:32

People taking the Long Island Foreclosure Tour arrive at a foreclosed home for sale in New Hyde Park, New York in this May 17, 2008 file photo. Citigroup could soon agree to principles that would let troubled borrowers save their homes through bankruptcy, sources familiar with the talks said on Thursday, while industry groups are easing their opposition to the plan. (Shannon Stapleton/Reuters)Reuters - Financial giant Citigroup Inc has agreed to support a controversial rewrite of U.S. bankruptcy law aimed at helping troubled mortgage borrowers avoid foreclosure, lawmakers said on Thursday.

Chevron sees major drop in 4th-quarter earnings (Reuters)

08-01-2009 17:21

A Chevron Corporation gasoline tank truck delivers gas to a Chevron service station in Redondo Beach, California August 10, 2005. (Fred Prouser/Reuters)Reuters - Chevron Corp expects its fourth-quarter earnings to be significantly lower than the previous quarter due to the impact of lower oil and gas prices on its upstream business.

Stocks up on expected foreclosure deal but Dow off (Reuters)

08-01-2009 17:13

Traders work on the floor of the New York Stock Exchange January 8, 2009. (Brendan McDermid/Reuters)Reuters - Most U.S. stocks rose on Thursday after news that Citigroup Inc agreed to support legislation aimed at stemming home loan foreclosures, offsetting Wal-Mart's disappointing sales and outlook.

Corporate America faces big pension shortfalls (Reuters)

08-01-2009 16:19

A Wall Street subway stop sign is seen in New York in this October 10, 2008 file photo. Volatile markets have saddled U.S. companies with a $409 billion deficit on pension plans, reversing a $60 billion surplus a year earlier, and will cut into earnings in 2009, consulting firm Mercer said. (Shannon Stapleton/Reuters)Reuters - Collapsing stock prices have created shortfalls in pension plans in dozens of large U.S. companies, which may require them to pump in tens of billions of dollars of cash, hurting earnings.

S&P 500, Nasdaq up but Dow off on Wal-Mart (Reuters)

08-01-2009 16:14

Traders work on the floor of the New York Stock Exchange January 8, 2009. (Brendan McDermid/Reuters)Reuters - NEW YORK (Reuters)- The Nasdaq and S&P 500 rose on Thursday after news that Citigroup Inc agreed to support legislation aimed at stemming home loan foreclosures, offsetting Wal-Mart's disappointing sales and outlook.

Consumer credit posts record drop in November (Reuters)

08-01-2009 15:48

A shopper uses her credit card to pay for a purchase at a K-Mart store in Burbank, California November 28, 2008. (Fred Prouser/Reuters)Reuters - Consumer borrowing dropped by a record $7.94 billion in November, a Federal Reserve report showed on Thursday, the latest evidence that households were unwilling or unable to take on more credit.

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