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Oil rallies from 3-1/2-year low

NEW YORK, Nov. 21, 2008 (Reuters) — Oil prices steadied 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

Citi extends plunge as world economy deteriorates

NEW YORK, Nov. 21, 2008 (Reuters) — Amid growing concern that a power vacuum in Washington was contributing to the global financial crisis, shares of U.S. banking giant Citigroup skidded on Friday while legislators and corporate chieftains weighed the fate of the U.S. auto industry. ...  > full story

Bargain hunters lift stocks, but Citi sinks

NEW YORK, Nov. 21, 2008 (Reuters) — Stocks rose in choppy trade on Friday as investors snapped up cut-price shares in beaten down sectors, including commodities and energy, a day after Wall Street slid to 11-year lows. ...  > 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

Jobless to peak at 7.5 percent: survey

WASHINGTON, Nov. 17, 2008 (Reuters) — The U.S. economy is in recession and will contract at a faster pace in the fourth quarter, extending the decline into early 2009 as high unemployment crimps consumer spending, a survey showed. ...  > full story

U.S. recession will last 14 months: Fed survey

NEW YORK, Nov. 17, 2008 (Reuters) — Private-sector economists believe the U.S. economy fell into recession last spring and now expect a sharp contraction in the fourth quarter of this year after slashing their forecasts for gross domestic product, a Federal Reserve Bank of Philadelphia survey said on Monday. ...  > full story
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