OPEC will cut crude production by a record 2.2 million barrels a day, but the cartel's announcement failed to stop oil prices from dropping to their lowest level in four years.
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British regulators said BAA should be required to sell three of its seven U.K. airports to improve competition.
The Fed cut its target interest rate to historic lows and said it could expand lending and securities purchase programs as it seeks to use every option to lift the U.S. out of recession.
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The euro-zone economy is continuing to slow as 2008 draws to a close, with fresh data showing that the contraction in manufacturing and services is deepening.
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European stocks finished up Tuesday, with the auto sector shrugging off dismal European new car sales on hopes that a bailout for U.S. auto makers may be announced as early as Wednesday.
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The euro's 10th birthday is Jan. 1, and financial markets are suggesting the start of a troubled second decade for the currency.
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In a sign of how Britain's political orthodoxy has changed after the partial nationalization of the banking industry, the government appears to have its sights on the energy sector.
Europeans are supposed to sip wine in sidewalk cafés, not guzzle beer like American college students. But Europe's relationship with alcohol is changing.
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The Irish government's offer to invest up to $13.65 billion in the nation's banks comes late in the day. But with the details of the bailout still sketchy, it's hard to say if it's better late than never.
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A group demanding that France withdraw its troops from Afghanistan claimed it planted explosives found at a major Paris department store.
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BP assumed that a deal with Gazprom was a Russian oil jackpot, but what followed was a series of miscalculations that has left BP's position in Russia shakier.
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European stocks finished up Tuesday, with the auto sector shrugging off dismal European new car sales on hopes that a bailout for U.S. auto makers may be announced as early as Wednesday.
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Experts expect a sharp decline in revenue for chip makers next year, with negative implications for both employment and capital spending.
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European stocks finished up Tuesday, with the auto sector shrugging off dismal European new car sales on hopes that a bailout for U.S. auto makers may be announced as early as Wednesday.
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A US Airways Group jetliner carrying about 150 people crashed into the Hudson River on after hitting a flock of birds. All passengers were safely evacuated.
Auctions of children's books and illustrations include "Winnie the Pooh," drawings by Beatrix Potter, a first edition with colored plates of J.R.R. Tolkien's "The Hobbit" and a stamp case by Lewis Carroll.
TARP II and other reasons people are scared.
* at close Source: Dow Jones, Reuters | |||
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In a year when so many CEOs failed, who managed to do well? We asked some management heavyweights for their picks.
"James Castle: A Retrospective," an exhibit at the Philadelphia Museum of Art, is an impeccably selected show with works that place him among the giants of modern draftsmanship.
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