GM posts loss, offers workers buyouts
February 12, 2008 08:34 AM ET
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DETROIT (Reuters) - General Motors Corp on Tuesday posted a quarterly
loss reflecting a slump in its North American market and losses
at former finance subsidiary GMAC and said it would offer buyouts
or early retirements to all U.S. hourly workers represented
by the United Auto Workers.
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Schering-Plough reports loss on merger charges
February 12, 2008 08:19 AM ET
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NEW YORK (Reuters) - Schering-Plough Corp on Tuesday reported
a quarterly loss as special charges from its acquisition of
Organon Biosciences late last year offset sharply higher sales,
but results beat Wall Street expectations.
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Futures extend gains on Buffett rescue plan
February 12, 2008 08:15 AM ET
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NEW YORK (Reuters) -Stock index futures extended gains on Tuesday
after billionaire investor Warren Buffett said on CNBC that
Berkshire Hathaway has offered to take over liabilities for
bond insurers.
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SocGen rights issue seen no deterrent to predators
February 12, 2008 08:06 AM ET
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PARIS (Reuters) - A deeply discounted $8 billion rights issue
from Societe Generale, seen in part as a bid by the scandal-hit
French bank to remain independent, has not convinced analysts
that it will deter predators.
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Credit Suisse reduces subprime writedowns
February 12, 2008 06:05 AM ET
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ZURICH (Reuters) - Credit Suisse trimmed full-year subprime
writedowns to 2.0 billion Swiss francs ($1.82 billion) but its
stock fell as investors took fright at the bank's remaining
exposure to the credit crisis.
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Xstrata slips on fears suitor Vale to walk away
February 12, 2008 08:33 AM ET
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LONDON (Reuters) - Shares in Xstrata slid on Tuesday after a
newspaper reported the Anglo-Swiss miner had rejected a $76
billion takeover approach from Brazil's Vale and that its suitor
was close to walking away.
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Small businesses sour on economy in January
February 12, 2008 07:43 AM ET
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WASHINGTON (Reuters) - Small businesses are losing confidence
in the U.S. economy and have little hope a spate of interest
rate cuts or economic stimulus measures will do much to boost
sales, according to a survey released on Tuesday.
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Qwest quarterly profit rises sharply
February 12, 2008 08:17 AM ET
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NEW YORK (Reuters) - U.S. phone company Qwest Communications
International Inc on Tuesday reported an 89 percent rise in
fourth-quarter profit, boosted by a benefit related to income
tax.
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Disney case highlights China supply chain pitfalls
February 12, 2008 07:48 AM ET
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SHENZHEN, China (Reuters) - In his dim two-room flat, Huang Renzhong
showed a visitor a Mickey Mouse statuette and explained how
creating Disney figurines during 15-hour work days in a grim
factory led to a $90,000 lawsuit.
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RIM outage may have come from service upgrade
February 12, 2008 08:29 AM ET
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BARECELONA (Reuters) - An outage which hit the BlackBerry mobile
e-email service on Monday may have been caused by an upgrade
to the systems of owner Research In Motion , its co-chief executive
Jim Balsillie said on Tuesday.
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