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Contributed by World News
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CHICAGO - The advice from financial experts has been painfully repetitive during weeks of decline in the markets: A bottom should be near. History says stocks always bounce back. Don't sell now and miss the recovery. But when panic selling washed over the markets again Friday, sending the Dow Jones industrial average down as much as 6 percent at one point, the pundits and money managers sounded less certain than ever about what comes next. "There's a debate right now, is the next major milestone in the Dow 5,000 or 10,000?" said Art Hogan, chief market strategist at Jefferies & Co. "I...
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Michael Reynolds, Pool European Commission President Jose Manuel Barroso speaks at the opening ceremony of the 7th Asia-Europe Meeting at the Great Hall of the People in Beijing, China, Friday,Oct. 24, 2008. Asian and European leaders said Saturday they have reached a broad consensus on ways to deal with the global financial meltdown and will present their views at a crisis summit next month in Washington. Speaking at the close of a two-day Asia-Europe Meeting in China's capital, the leaders called for new rules for guiding the global economy and a leading role for the International Monetary Fund in aiding crisis-stricken countries. The biennial forum, known as ASEM, generally does not make...
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MOSCOW, Oct 25 (Reuters) - Russia's central bank will not allow any drastic fluctuations in the rouble, First Deputy Prime Minister Igor Shuvalov said on Vesti-24 television on Saturday. "It's important to understand that the central bank has...
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> Study: Business travel to fall Study: Travel down, costs up The number of people traveling is expected to go down, but the cost of travel will go up, according to a report by Global Insight, a Massachusetts-based financial analysis and forecasting company. Full-year 2008 domestic travel is now expected to reach only 1.987 billion trips, down 0.6 percent from 2007. Leisure travel, which makes up about 76 percent of total, will register 1.5 billion trips - a 0.5 percent increase over last year. However, business travel is expected to decline 3.8 percent, which "will, unfortunately, negate leisure's rather anemic gain," according to the report. "Consumers and businesses are being buffeted by...
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Overland Storage's first-quarter loss widened to $6.9 million, or 54 cents per share, from a loss of $4.5 million a year earlier. Sales were $32.2 million, about the same as last year. Overland had $5.4 million in cash at quarter's end. It is seeking to raise $10 million. Overland said it is in active discussions with several lenders and is evaluating letters...
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