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Two Banks in Midwest FailRegulators seized two small banks in Michigan and Illinois, raising the number of failures this year to 15 and providing a reminder of how institutions around the country are struggling to survive. ... |
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Wild Day Caps Worst Week Ever for StocksThe Dow declined 128 points to 8451.19, capping the worst week in its 112-year history with its most volatile day ever. Down nearly 700 points early on, stocks gave up late gains as hopes for an international bank-rescue plan were overcome by a wave of selling. ... |
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Ford CFO Leclair Steps DownFord Motor named Lewis Booth to succeed finance chief Don Leclair, who is retiring after 32 years at the auto maker. Both Ford and General Motors dismissed the idea of seeking bankruptcy protection. ... |
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Chesapeake CEO Sells HoldingsChesapeake Energy disclosed that its co-founder and chief executive, Aubrey McClendon, had been forced to sell substantially all his shares to meet margin calls. ... |
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G-7: Need for Urgent Action on CrisisThe U.S. and its closest allies agreed on guidelines to address the world financial crisis, a move that opens the way for a series of government actions, but falls short of a joint plan that many had sought. Paulson said the U.S. will move ahead with plans to buy equity stakes in financial instit... |
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Crude-Oil Prices Fall Below $80Plunging demand for oil shoved crude prices to below $80 a barrel, their lowest level in 13 months. ... |
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