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General Motors Corp. speeds toward a record-short escape from bankruptcy protection after a judge's order approving the sale of most of its assets to a new company went into effect. GM lawyers are working to close the sale as quickly as possible, after which GM would leave bankruptcy protection.
DailyFinance: Will New GM Have the Right Leadership?

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Jobless Claims Hit New Record High

posted: 2 HOURS 37 MINUTES AGO

filed under: Financial Crisis

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The number of newly laid off workers filing initial claims for jobless benefits fell to lowest level since early January, largely due to changes in the timing of auto industry layoffs. But continuing claims unexpectedly jumped to a record-high.
Also: Retail Sales Weak as Job Worries Escalate

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Finances at Forefront of Palin Exit

posted: 23 MINUTES AGO

Sarah Palin has repeatedly cited the bombardment of ethics complaints against her and the financial burden of defending herself as reasons she abruptly resigned as governor of Alaska. But just how much of a financial burden has been inflicted on the Palins and Alaska?

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Market News

posted: 7 DAYS 1 HOUR AGO

filed under: Investing

Market Update

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DJIA NASDAQ S&P 500 10yr Note

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Citigroup Juggles Top Execs, Keep Pandit

posted: 3 HOURS 43 MINUTES AGO

One week before reporting second quarter earnings, Citigroup announces changes to several top management positions, which CEO Vikram Pandit describes as moves that will "further help in positioning our company for the future."

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No Madoff Appeal: What's the Point?

posted: 1 HOUR 21 MINUTES AGO

filed under: Madoff

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A lawyer for Bernard Madoff says that the disgraced financier will not appeal the 150-year prison sentence he received for orchestrating a massive fraud. At 71 years old, even a sharply reduced sentence would keep Madoff behind bars for the rest of his life.

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Oil Wavers at $60 as Consumers Retreat

posted: 2 HOURS 41 MINUTES AGO

filed under: Crude Oil Prices

Oil prices wavered around $60 per barrel as new consumer and employment data cast doubt over energy markets. However, crude prices rallied back to closed at $60.41, rising slightly for the first time in more than a week.

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Commercial Real Estate Woes Growing

posted: 2 MINUTES AGO

filed under: Financial Crisis

Industry experts are warning that owners of shopping malls, hotels and office buildings are defaulting on their loans at an alarming rate, and the commercial real estate market is not expected to hit bottom for three more years.

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Can Fed Chief Bernanke Keep His Job?

posted: 4 HOURS 16 MINUTES AGO

filed under: Financial Crisis

Despite his handling of the economic crisis, some members of Congress are apparently uneasy about Federal Reserve Chief Ben Bernanke's ability to handle an expanded role of the Fed. Do you think he should be reappointed? Click inside to share your comments.
DailyFinance: Buffett Says Second Stimulus May Be Needed

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