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Home Foreclosures Continue to Soar Delaying U.S. Economic Recovery

By Jennifer YousfiManaging Editor There's more bad news ahead for the U.S. economy as home foreclosures continue to rise. One out of every 483 U.S. households is at some stage of the foreclosure process, and with that many displaced or struggling homeowners, the economic recovery may well take longer than expected. "May was the third […]

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Yahoo Grasping at Straws with Google Deal

By Jason SimpkinsAssociate Editor Jerry Yang, Yahoo Inc.'s (YHOO) chief executive officer, finally got his wish last Thursday when his company partnered with rival Google Inc. (GOOG) to enhance its online advertisement business. But while Yang insists the deal will generate an extra $800 million a year in revenue, shareholders and analysts alike are skeptical […]

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Bank of Japan Plays Down Inflation Concerns

By Jennifer Yousfi Managing Editor Despite having the lowest overnight rate of the Group of Seven nations, Japan's central bank unanimously voted today (Friday) to keep its key interest rate steady at 0.5%. "Our judgment is that our current stance on monetary policy, under current conditions, is the best," Bank of Japan (BOJ) Governor Masaaki […]

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Stimulus Checks Push Retail Sales Rally; Economy Still Facing Uphill Battle

By Jason Simpkins Associate Editor Stimulus checks helped send retail sales up 1% in May, the Commerce Department said yesterday (Thursday), bolstering the dollar and lifted the mood on Wall Street. But the effects may not last, as unemployment continues to rise and crude oil supplies tighten. Record high gasoline prices padded the report, but […]

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InBev Offers Anheuser $46.3 Billion, a Deal That Would the Create World’s Largest Brewer

By Mike Caggeso Associate Editor After two weeks of nail-biting speculation, InBev NV pulled the trigger on its takeover offer to Anheuser-Busch Companies Inc. (BUD), putting up a $46.3 billion, or $65 per share, cash bid for the U.S. market leader. As a sign of the times, InBev's Chief Executive Carlos Brito did it with […]

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Oil Price Soars $5 on Reduced Supply, Gas Could Head Much Higher

By Jennifer YousfiManaging Editor Crude for July delivery jumped more than $5 per barrel in New York yesterday (Wednesday) to close at $136.38 per barrel on declines in U.S. supplies and refinery activity. Supplies fell further than expected, with a 4.56 million decline to 302.2 million barrels last week, the U.S. Energy Information Administration announced. […]

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Merrill: Foster's Could be Next Candidate for Beverage Buyout

By Mike Caggeso Associate Editor The whirlwind of recent beverage buyouts may continue, as Foster's Group Ltd. (OTC: FBRWY) – Australia's biggest beer and wine maker – may be a takeover target after it conducts a review of its wine business. That assessment didn't come from the company, however, but rather Merrill Lynch & Co. […]

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Big Changes for LIBOR as BBA Tries to Restore Credibility in Key Lending Rate

By Jennifer Yousfi Managing Editor After months of increasing skepticism, the British Bankers Association yesterday (Tuesday) announced changes to its London Interbank Offer Rate (LIBOR). "These changes will further strengthen BBA Libor and the confidence of its many users," BBA Chief Executive Angela Knight said. The BBA proposed a number of measures meant to restore […]

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U.S. Corn Crop Could Decrease by 10% Further Fueling the Great Ethanol Debate

By Jason SimpkinsAssociate Editor U.S. farmers will produce 10% less corn this year than they did a year ago, driving demand to a 13-year low and further enflaming global rhetoric aimed at diversion of the staple crop for use in biofuels. Corn production will fall to 11.735 bushels compared with last year's crop of 13.074 […]

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Brazil Economy Expanded 5.8% in 1Q; Central Bank Likely to Raise Rates Again

By Mike Caggeso Associate Edtior Driven by heightened domestic spending, Brazil's red-hot economy posted its fastest first-quarter growth since 1995. The 5.8% economic expansion – the country's 18th consecutive quarterly gain – fuels the notion that its central bank will continue raising interest rates to dampen inflation and demand. "The figures show domestic demand is […]

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