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Obama Outlines Plan to Help GM Survive

Posted: 06/01/2009 - President Barack Obama pushed General Motors Corp. into bankruptcy on Monday and said it was part of a "viable achievable plan that will give this iconic company a chance to rise again."

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Mortgage Delinquencies hit Record High in Q1

Updated: 05/28/2009 - A record 12 percent of homeowners with a mortgage are behind on their payments or in foreclosure as the housing crisis spreads to borrowers with good credit. And the wave of foreclosures isn't expected to crest until the end of next year, the Mortgage Bankers Association said Thursday.

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Wells Fargo Asked to Raise Money After Stress Test

Updated: 05/04/2009 - Regulators are asking Wells Fargo & Co. to raise more capital after government "stress tests" showed the bank would have trouble surviving if the recession worsens.

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GM to Cut 21,000 US Factory Jobs, Shed Pontiac

Updated: 04/27/2009 - General Motors Corp. said it will cut 21,000 U.S. factory jobs by next year, phase out its storied Pontiac brand and ask the government to take company stock in exchange for half GM's government debt as part of a major restructuring effort needed to get more government aid.

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White House Questions Viability of Gm, Chrysler

Posted: 03/30/2009 - President Barack Obama is sending a blunt message to Detroit automakers: To survive - and win more government help - they must remake themselves top to bottom. Driving home the point, the White House ousted the General Motors chairman as it rejected GM and Chrysler's restructuring plans

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Sony Projects First Loss in 14 Years

Updated: 01/22/2009 - Sony Corp. has slashed its annual earnings forecast, projecting its first net loss in 14 years on slumping sales, a strong yen and restructuring costs.

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Nevada casino '08 profits shrink by two-thirds

Updated: 01/16/2009 - A new report shows Nevada's major hotel-casinos had a huge drop in net income in fiscal 2008 as a global economic downturn worsened, hanging onto $721.2 million or a third of what they netted in the previous year.

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Citigroup, Morgan Stanley to Merge

Posted: 01/13/2009 - Citigroup Inc. and Morgan Stanley agreed Tuesday to combine their brokerages in a deal that shows how much Citigroup wants to slim down and build up cash.

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