Countrywide swings to loss
April 29, 2008 08:26 AM ET
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NEW YORK (Reuters) - Countrywide Financial Corp, the mortgage
lender being acquired by Bank of America Corp, on Tuesday posted
a surprisingly large $893 million first-quarter loss, as it
took more than $3 billion of charges for write-downs and bad
loans.
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Stock futures slip on Merck; Fed in focus
April 29, 2008 07:53 AM ET
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NEW YORK (Reuters) - Stock futures fell on Tuesday after regulators
rejected Merck & Co Inc's new cholesterol drug and investors
feared more bleak housing and consumer confidence data would
undermine sentiment.
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Oil below $118 as dollar rises
April 29, 2008 08:34 AM ET
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LONDON (Reuters) - Oil fell towards $117 a barrel on Tuesday,
retreating further from a record high hit a day before, as the
dollar firmed and a strike ended at Britain's Grangemouth refinery.
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Ex-Fed official criticizes Bear Stearns rescue: report
April 29, 2008 04:23 AM ET
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NEW YORK (Reuters) - A former top Federal Reserve official has
said that the Fed's bailout of Bear Stearns Cos will come to
be viewed as the "worst policy mistake in a generation," the
Wall Street Journal reported on Tuesday.
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MasterCard earnings more than double
April 29, 2008 08:22 AM ET
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NEW YORK (Reuters) - MasterCard Inc said on Tuesday first-quarter
earnings more than doubled, helped by currency gains and the
sale of a stake in a Brazilian credit card services company.
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Wal-Mart to cash tax rebate checks for free
April 29, 2008 07:39 AM ET
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NEW YORK (Reuters) - Wal-Mart Stores Inc on Tuesday unveiled
its plans to entice U.S. shoppers to spend their tax rebates
in its discount stores, offering to cash the checks for free
and saying it has cut prices on key items such as cereal and
lunch meat.
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Millionaires' appetite for stocks rising: study
April 29, 2008 08:30 AM ET
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NEW YORK (Reuters) - Millionaires view the U.S. economy as "very
weak," but sense a resumption of growth in early 2009 and expect
to buy stocks and real-estate in the latest indication that
a recovery may be imminent, according to a study released on
Tuesday.
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Valero profit falls sharply
April 29, 2008 07:59 AM ET
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NEW YORK (Reuters) - Valero Energy Corp , the largest U.S. oil
refiner, posted sharply lower quarterly earnings on Tuesday
due to weak profits from gasoline production and unplanned outages
at its refineries.
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CBS Corp reports higher earnings
April 29, 2008 07:17 AM ET
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NEW YORK (Reuters) - CBS Corp on Tuesday reported higher first-quarter
earnings as profit improved in its television business, and
said it has raised its dividend 8 percent.
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Shell, BP profits jump on record oil price
April 29, 2008 05:47 AM ET
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LONDON (Reuters) - Oil giants Royal Dutch Shell and BP beat
forecasts to post big rises in first quarter profits on Tuesday,
lifting shares across the sector, as investors bet oil prices
above $100/barrel would be an even bigger bonanza than expected.
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