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At meeting, Fed to weigh options to revive economy

April 26, 2009 12:23 pm | by JEANNINE AVERSA - AP Economics Writer - Associated Press | News | Comments

WASHINGTON (AP) — As the recession grinds on, Federal Reserve policymakers will open a two-day meeting Tuesday to make a fresh assessment of economic conditions, review the effectiveness of programs in place and weigh whether they need to expand or change them.Any policy decisions would come...

Swine flu fears prompt quarantine plans, pork bans

April 26, 2009 11:38 am | by FRANK JORDANS - Associated Press Writer - Associated Press | News | Comments

GENEVA (AP) — Canada became the third country to confirm human cases of swine flu Sunday as global health officials considered whether to raise the global pandemic alert level.Nations from New Zealand to Spain also reported suspected cases and some warned citizens against travel to North America...

Wall Street on edge over earnings, banking sector, US

April 26, 2009 11:38 am | by IEVA M. AUGSTUMS - AP Business Writer - Associated Press | News | Comments

CHARLOTTE, N.C. (AP) — The wait for news about the government's stress tests of big banks and a crush of earnings reports are likely to keep Wall Street on edge this week.Investors whose burst of optimism sent stocks higher Friday will see if their bets — which came in part on some...

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Summers: Fiat-Chrysler talks still up in the air

April 26, 2009 11:27 am | by The Associated Press | News | Comments

WASHINGTON (AP) — White House economic adviser Larry Summers said Sunday the Obama administration is holding out hope that Chrysler can stay out of bankruptcy court.Chrysler LLC is surviving on government loans and has until Thursday to work out a joint venture with Italian automaker Fiat Group...

Freighter crewman recounts struggle with pirates

April 26, 2009 11:22 am | by BILL BERGSTROM - Associated Press Writer - Associated Press | News | Comments

MERION, Pa. (AP) — Sailors have a short list of what to grab in an emergency.When the urgent long-short-long-short din of the Maersk Alabama's alarm bell woke third engineer John Cronan on April 8, he didn't hesitate."I grabbed a pocket knife and a flashlight, and I took that photo and put it in my...

Swine flu confirmed in NYC high school students

April 26, 2009 10:47 am | by KAREN MATTHEWS - Associated Press Writer - Associated Press | News | Comments

NEW YORK (AP) — New York City was dealing with a growing public health threat Sunday after tests confirmed that eight students at a private Catholic high school had contracted swine flu. Some of the school's students had visited Mexico on a spring break trip two weeks ago.New York officials...

OPEC, Asia, call for curbs on oil speculation

April 26, 2009 9:51 am | by TAREK EL-TABLAWY - AP Business Writer - Associated Press | News | Comments

CAIRO (AP) — OPEC and Asian energy officials called Sunday for new oil investments and tougher measures to combat speculation in crude markets that some have argued helped fuel last year's oil price spike.The call came during a one-day energy meeting in Tokyo to discuss volatility in the world oil...

At annual meetings, perks are out and anger is in

April 26, 2009 9:16 am | by MADLEN READ - AP Business Writer - Associated Press | News | Comments

NEW YORK (AP) — Just a few years ago, companies staging annual meetings brought in acts like Paul McCartney and Tony Bennett. At the very least, they offered snacks as CEOs boasted about big profits.This year, when stockholder Ram Bijapur decided to show up at the Hilton hotel for the Citigroup...

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World Bank says poor countries risk calamity

April 26, 2009 8:06 am | by HARRY DUNPHY - Associated Press Writer - Associated Press | News | Comments

WASHINGTON (AP) — The global financial crisis could become "a human and development calamity" for many poor countries, the World Bank said, urging donor nations to speed delivery of money they have pledged and consider giving more.Developing countries, its main constituency, face "especially...

OPEC heads says $50 barrel too low for investment

April 26, 2009 7:15 am | by The Associated Press | News | Comments

ALGIERS, Algeria (AP) — OPEC Secretary General Abdalla el-Badri has warned that oil prices of $50 per barrel are "insufficient for continued investment" and urged a $70 barrel.El-Badri says his organization will take into consideration signs of economic recovery in any decisions on possible...

Kuwaiti investment bank reports first ever loss

April 26, 2009 5:30 am | by The Associated Press | News | Comments

KUWAIT CITY (AP) — Kuwait's largest investment bank, which has been struggling with debt, says it has reported its first ever annual loss.Global Investment House said Sunday its overall net loss for 2008 was 257.6 million dinars ($888.3 million) compared to a profit of 91.4 million dinars in...

Osborne: Newspapers will survive, in new form

April 25, 2009 4:55 pm | by KELLEY SHANNON - Associated Press Writer - Associated Press | News | Comments

AUSTIN, Texas (AP) — Even though their look and operations may be different, newspapers have a future in the journalism world if they learn how to survive in a competitive field, former Dallas Morning News publisher Burl Osborne said Saturday."Now the consumers have taken charge — they decide what...

World Bank to aid poor countries with public works

April 25, 2009 11:18 am | by HARRY DUNPHY - Associated Press Writer - Associated Press | News | Comments

WASHINGTON (AP) — The World Bank said Saturday it would provide poor countries with more than $55 billion for public work projects left in limbo when the recession dried up capital investment.The goal is to create jobs and lay the foundation for future economic growth and poverty reduction. Africa...

Gas summit agrees on diverse gas supply routes

April 25, 2009 10:52 am | by VESELIN TOSHKOV - Associated Press Writer - Associated Press | News | Comments

SOFIA, Bulgaria (AP) — European countries and major gas producers taking part at a high-level energy meeting agreed Saturday to establish diverse supply connections and guaranteed gas deliveries for their industries already plagued by the global economic downturn.The two-day meeting — dubbed...

Profit reports turn spotlight on consumer spending

April 25, 2009 9:08 am | by MAE ANDERSON - AP Business Writer - Associated Press | News | Comments

NEW YORK (AP) — When the economy screeched to a halt late last year, so did consumer spending, which accounts for 70 percent of all U.S. economic activity. That's why the latest string of quarterly reports will be closely watched for any indication that consumers feel more confident about parting...

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