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Goodyear Tire & Rubber Co. said it swung to a profit on higher revenue in the first quarter, reversing last year’s loss by focusing on higher-priced tires and international markets.
The biggest U.S.-based tire manufacturer said Friday that it earned $147 million, or 60 cents per share, on sales of $4.94 billion in the three […]
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Newly laid-off workers filing claims for unemployment benefits posted a sharp decline last week.
The Labor Department reported Thursday that claims for unemployment benefits fell by 33,000 last week to 342,000. Economists had been expecting claims would rise by 3,000.
The four-week moving average for claims fell by 7,250 to 369,500. Even with the improvements, analysts […]
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Dow Chemical Co. on Thursday reported a 3% drop in first-quarter profit because of higher feedstock and energy costs, but the chemical giant still managed to top Wall Street’s expectations.
Earnings slipped to $941 million, or 99 cents per share, in the January-March period from $973 million, or $1 per share, a year ago.
A $2.2 […]
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Democrats pushed a $15 billion housing bill through a House committee Wednesday over the objections of Republicans who called it a government bailout.
The measure would send federal loans and grants to cities and counties hit hardest by the housing crisis so they could buy and fix up foreclosed properties. It passed the Financial Services […]
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Seven out of 10 seriously delinquent subprime mortgage borrowers are still not getting the help they need to keep their homes, according to a report released Tuesday by state officials working to stem the foreclosure crisis.
"We’re still way behind," said Iowa Attorney General Tom Miller, who helped form the State Foreclosure Prevention Working Group, […]
Filed under: economics by Wolf
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new york — Stocks rallied Friday, capping the best week since February for the Standard & Poor’s 500 index, after companies from Citigroup Inc. to Google Inc. to Caterpillar Inc. posted results that topped analysts’ estimates.
The market climbed after Citigroup’s loss was less than the most pessimistic projections and profits at Google […]
Filed under: technology by Wolf
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General Electric Co. reached a deal to buy Citigroup Inc.’s commercial lending and leasing business - CitiCapital - for an undisclosed price, the companies said Thursday.
General Electric’s GE Capital division is buying seven lending units from Citi: healthcare, private-label equipment, material-handling, franchise, construction equipment, bankers leasing and the Canadian division.
The acquired businesses have $13.4 […]
Filed under: management by Wolf
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Sears Holdings Corp. said Tuesday it plans on offering a 10% bonus to anyone who converts their fiscal-stimulus checks into a Sears or Kmart gift card.
The announcement came as many scrambled to turn in their taxes, which are due at midnight. The Internal Revenue Service will begin sending the checks in early May.
Customers can […]
Filed under: economics by Wolf
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The chaos facing air travelers on American Airlines is almost over.
On Saturday, American (AMR, Fortune 500) received clearance from federal aviation officials to return all of its remaining 300 grounded jets to service, an airline spokesman said.
But it won’t be until Sunday morning before the MD-80s can be positioned throughout the American […]
Filed under: business by Wolf
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BEIJING — If you spend any time in Beijing, you’ll feel you are being watched.
No, I’m not talking about government surveillance. I’m talking about Yao Ming, the 7-foot-6 Chinese basketball player who carries the hopes of his nation into this summer’s Olympic Games.
It is impossible to escape Yao’s constant gaze.
His smiling […]
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