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U.S. economy to contract up to 2.0% in 2009, Fed says+

May 20, 2009 10:29 am | by The Associated Press | News | Comments

WASHINGTON, May 20 (Kyodo) — (EDS: WILL BE LED)The Federal Reserve said Wednesday it anticipates the U.S. economy will contract 1.3 percent to 2.0 percent in 2009, a faster pace of decline than it forecast in February.The central bank said in its previous economic projections that in terms of gross...

Iowa attorney general sues IA, WI fundraisers, 1st Ld-Writethru, IA

May 20, 2009 10:28 am | by MIKE GLOVER - Associated Press Writer - Associated Press | News | Comments

DES MOINES, Iowa (AP) — Iowa Attorney General Tom Miller has filed a consumer fraud lawsuit against a Des Moines company, accusing it of misleading people about the percentage of donations kept by the business.Miller announced at a news conference Wednesday that he also is joining prosecutors in 31...

Colo. aircraft component maker lays off 57 workers, CO

May 20, 2009 10:28 am | by The Associated Press | News | Comments

FORT COLLINS, Colo. (AP) — A company that manufactures energy control systems for aircraft has laid off 57 people in its Fort Collins and Loveland plants.The layoffs were announced Tuesday. Woodward Governor officials cited declining demand for industrial engines, business jets and power...

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Big US towers going cheap in distressed market, US

May 20, 2009 10:28 am | by AMY WESTFELDT - Associated Press Writer - Associated Press | News | Comments

NEW YORK (AP) — The 40-story skyscraper sits on a prime corner in the country's wealthiest commercial market, steps from the Museum of Modern Art and a few blocks from Rockefeller Center and Central Park.It recently sold for $100,000.The 1330 Avenue of the Americas building — which sold for close...

Shanty home of 2nd 'Slumdog' child star torn down, 7th Ld-Writethru, AS

May 20, 2009 10:28 am | by ERIKA KINETZ - Associated Press Writer - Associated Press | News | Comments

MUMBAI (AP) — The 9-year-old girl who starred in "Slumdog Millionaire" dodged pieces of falling debris as she tried to salvage twisted metal and splintered wood — all that remained of her bubble-gum pink home after authorities demolished part of a city slum where she lived.Months after their movie...

Mich. unemployment reaches 12.9 percent in April, 2nd Ld-Writethru, MI

May 20, 2009 10:28 am | by The Associated Press | News | Comments

LANSING, Mich. (AP) — Michigan's unemployment rate rose to 12.9 percent in April, its highest mark since late 1983.The state said Wednesday that Michigan's seasonally adjusted jobless rate was pushed up by large job losses in manufacturing and construction.Last month's jobless rate was the highest...

Wright State proposes worker buyouts, OH

May 20, 2009 10:28 am | by The Associated Press | News | Comments

DAYTON, Ohio (AP) — Wright State University in Dayton is proposing to offer more than 700 employees financial incentives to voluntarily leave their jobs. The move comes as the school seeks to save money and avoid possible layoffs.Executive Vice President Robert Sweeney said Wednesday as many as 130...

3 US soldiers killed by bomb in Baghdad, 7th Ld-Writethru, ML

May 20, 2009 10:28 am | by SINAN SALAHEDDIN - Associated Press Writer - Associated Press | News | Comments

BAGHDAD (AP) — Three American soldiers were killed Thursday in a bombing in Baghdad, the U.S. military said, part of a burst of violence only weeks before American combat troops are due to leave Iraqi cities.The attack was one of a series of bombings to hit Baghdad and the northern city of Kirkuk,...

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SumTotal Receives Revised Acquisition Proposal from Vista Equity Partners Business Editors

May 20, 2009 10:28 am | by The Associated Press | News | Comments

MOUNTAIN VIEW, Calif.-- (BUSINESS WIRE) — May 20, 2009-- The Board of Directors of SumTotal(R) Systems, Inc. (NASDAQ: SUMT), the market leader and a global provider of talent development solutions, today confirmed that it has received a revised proposal from Vista Equity Partners ("Vista Equity")...

Guiding Rockwell to Recovery and Prosperity Business Editors

May 20, 2009 10:27 am | by The Associated Press | News | Comments

TORONTO-- (BUSINESS WIRE) — May 20, 2009-- Pala Investments Holdings Limited ("Pala") today mailed its Proxy Circular for the upcoming Rockwell Diamonds Inc. ("Rockwell", TSX: RDI, JSE: RDI, OTCBB: RDIAF) shareholders' meeting to be held on June 17, 2009, in Vancouver, British Columbia."Rockwell is...

Barclays analyst upgrades Biogen on Tysabri, APFN

May 20, 2009 10:27 am | by The Associated Press | News | Comments

NEW YORK (AP) — A Barclays Capital analyst upgraded shares of Biogen Idec Inc. Wednesday, citing an uptick in patients taking the multiple sclerosis drug Tysabri in March and April.Analyst Dr. Jim Birchenough upgraded the stock to "Equal Weight" from "Underweight," after the company reported more...

Somali leader partly blames US policy for chaos, 1st Ld-Writethru, MN

May 20, 2009 10:21 am | by HENRY C. JACKSON - Associated Press Writer - Associated Press | News | Comments

WASHINGTON (AP) — Years of bungled policy by the United States and other western countries has led to the current chaos in Somalia, the leader of a Minnesota Somali advocacy organization said Wednesday.Speaking at the National Press Club in Washington, Omar Jamal, the executive director of the...

LA school officials mulling drastic budget cuts, 1st Ld-Writethru, CA

May 20, 2009 10:21 am | by CHRISTINA HOAG - Associated Press Writer - Associated Press | News | Comments

LOS ANGELES (AP) — Los Angeles school officials say the results of Tuesday's special election will have a devastating impact on the nation's second largest school district.School district Superintendent Ramon Cortines said Wednesday that voters' rejection of the budget propositions will force the...

David C. Cooke Joins Corporation's Board of Directors

May 20, 2009 10:21 am | by GLOBE NEWSWIREAssociated Press | News | Comments

VANCOUVER, British Columbia, May 20, 2009 (GLOBE NEWSWIRE) --Patrick H. Gaines, Chairman of LML Payment Systems Inc. ("the "Corporation") (Nasdaq:LMLP) is pleased to announce the appointment of David C. Cooke to the Board of Directors.Mr. Cooke served as the Executive Director of the newly-created...

Halliburton chief distances company from KBR, US

May 20, 2009 10:21 am | by JOHN PORRETTO - AP Energy Writer - Associated Press | News | Comments

HOUSTON (AP) — Halliburton chairman and CEO Dave Lesar reassured shareholders Wednesday the oilfield services company has no ties to former subsidiary KBR Inc., even though the two are still often linked in legal matters.Lesar used the company's annual meeting as another avenue to distance...

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