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Oil Prices Plunge on Economic Data

Posted June 1st, 2011 at 4:35 pm (UTC-5)
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Here are the prices of some key commodities traded in New York on Wednesday: The price of crude oil slid $2.41 to close at $100.29 a barrel after a series of reports on jobs and manufacturing sparked concerns that the U.S. economic recovery may be starting to stagnate. Coffee prices fell almost 9 cents to […]

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Economic Worries Pummel US Stocks

Posted June 1st, 2011 at 4:30 pm (UTC-5)
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Weak economic data is sparking new concerns the U.S. economic recovery is stalling, sending the major stock indexes sharply lower Wednesday. The Dow Jones Industrial Average dropped 2.2 percent to close at 12,290. The S&P 500 index plunged 2.3 percent to end at 1,315. And the NASDAQ dropped 2.3 percent to finish at 2,769. European […]

Tags: , , , Posted in Economy

Oil Prices Plunge on Economic Data

Posted June 1st, 2011 at 3:45 pm (UTC-5)
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Here are the prices of some key commodities traded in New York on Wednesday: The price of crude oil slid $2.41 to close at $100.29 a barrel after a series of reports on jobs and manufacturing sparked concerns that the U.S. economic recovery may be starting to stagnate. Coffee prices fell almost 9 cents to […]

Tags: Posted in Economy

Auto Sales Shift into Reverse

Posted June 1st, 2011 at 3:35 pm (UTC-5)
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Some of the world’s biggest automakers are blaming the Japanese tsunami, higher gasoline prices and jittery consumers for sending new vehicle sales into reverse. Japanese automaker Toyota took the biggest hit, reporting a 28 percent drop in May sales compared to the same time last year. The world’s largest car company experience severe production delays […]

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Economic Concerns Send US Stocks Sliding

Posted June 1st, 2011 at 12:45 pm (UTC-5)
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Concerns about job creation and a slowing U.S. economic recovery pushed the major stock indexes lower in Wednesday’s midday trading. The Dow Jones Industrial Average slid almost 1.5 percent. The S&P 500 index fell 1.4 percent. And the NASDAQ dropped almost 1.3 percent. European stock prices also fell, closing lower. London’s Financial Times index dipped […]

Tags: , , , Posted in Economy

Toyota to Boost Production; Issues New Recalls

Posted June 1st, 2011 at 12:40 pm (UTC-5)
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The world’s biggest automaker says it is boosting production in Japan as it recovers from the March earthquake and tsunami that devastated part of the country. Japanese car maker Toyota announced Wednesday domestic production will return to 90 percent of pre-disaster levels this month. Company executives credited the quicker than anticipated recovery on the ability […]

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US Economic Recovery Struggles to Gain Momentum

Posted June 1st, 2011 at 11:30 am (UTC-5)
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The U.S. economic recovery is struggling to gain momentum, with new reports showing slower growth in job creation and the manufacturing sector. Payroll processor ADP said Wednesday private companies added only 38,000 jobs in May. ADP also said fewer private sector jobs had been created in April than previously thought. A separate survey by the […]

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Kibaki: Kenyan Government Trying to Cushion Rising Costs

Posted June 1st, 2011 at 10:40 am (UTC-5)
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Kenya’s president says the government is taking steps to protect its citizens from the effects of rising food and fuel prices. Speaking in Nairobi Wednesday, President Mwai Kibaki said he is “fully aware” of the hardships Kenyans face because of the price increases. Mr. Kibaki said measures to ease the impact include duty reductions on […]

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Chinese Computer Maker to Boost European Presence

Posted June 1st, 2011 at 10:30 am (UTC-5)
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China’s top computer maker is moving to increase its share of the European market. Lenovo Wednesday announced a deal to buy German electronics retailer Medion for about $900 million. If approved by regulators, the deal will double Lenovo’s share of the personal computer market in Germany to more than 14 percent. It would also boost […]

US Stocks Slip at Open

Posted June 1st, 2011 at 9:50 am (UTC-5)
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Major U.S. stock market indexes slid lower in early trading Wednesday, following reports the job market created fewer jobs last month than many economists had forecast. The Dow Jones Industrial Average and the S&P 500 index each fell three-tenths of a percent. The NASDAQ dropped almost two-tenths of a percent. European stock prices were lower […]

Tags: , , , Posted in Economy

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