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Wall Street stages late rally on Geithner news

NEW YORK, Nov. 21, 2008 (Reuters) — U.S. stocks stormed higher in a late rally on Friday to cap another volatile week as investors welcomed reports that President-elect Barack Obama has chosen his point person to combat the U.S. economic crisis, instilling confidence about the administration's ability to take action. ...  > full story

Geithner report rallies stocks but Citi still down

NEW YORK, Nov. 21, 2008 (Reuters) — President-elect Barack Obama will name New York Federal Reserve president Timothy Geithner as his Treasury Secretary, major media reported on Friday, sparking a late-day stock market rally and helping assuage concerns about a power vacuum in Washington. ...  > full story

Bailout debate simmers as GM pares output

DETROIT/WASHINGTON, Nov. 21, 2008 (Reuters) — Detroit automakers began work on the turnaround plans demanded by Congress in return for a possible $25 billion rescue as General Motors Corp said it will cut production more deeply and drop two of its controversial corporate jets. ...  > full story

Bailout debate simmers; GM pares output, jet fleet

DETROIT/WASHINGTON, Nov. 21, 2008 (Reuters) — Detroit automakers began work on the turnaround plans demanded by Congress in return for a possible $25 billion rescue as General Motors Corp said it will cut production more deeply and drop two of its controversial corporate jets. ...  > full story

Oil rallies from 3-1/2-year low

NEW YORK, Nov. 21, 2008 (Reuters) — Oil rose slightly on Friday, after falling more than 7 percent the day before, as stock markets recovered from early lows caused by continuing economic gloom. ...  > full story

Bush signs law extending unemployment insurance

WASHINGTON, Nov. 21, 2008 (Reuters) — President George W. Bush on Friday signed into law an extension of unemployment benefits, the White House said. ...  > full story

Jobs data miserable, regional factories slump

NEW YORK, Nov. 20, 2008 (Reuters) — The number of American workers on the unemployment rolls surged to the highest in a quarter century and a regional manufacturing gauge slumped as U.S. economic misery intensified. ...  > full story

Small businesses feel Wall Street's pain

BOSTON, Nov. 20, 2008 (Reuters) — Wall Street's pain is rippling through U.S. small businesses, as bankers who once pulled in million-dollar bonuses lose their jobs and cut back spending on everything from parties to home improvements. ...  > full story

Consumer prices, home starts plunge in October

WASHINGTON, Nov. 19, 2008 (Reuters) — Consumer prices fell at a record pace in October and new-home building slumped to fresh lows, according to government reports on Wednesday that suggested the economy likely is already in a recession that may be long and deep. ...  > full story

Producer prices set record drop in October

WASHINGTON, Nov. 18, 2008 (Reuters) — Producer prices posted a record decline in October as weak economic growth sent energy prices tumbling and chain store sales slipped, data on Tuesday showed, while home prices fell sharply in the third quarter. ...  > full story
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