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Contributed by World News
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by P. Parameswaran 9 minutes ago WASHINGTON (AFP) - The World Bank pledged Wednesday to help Asian nations hit by financial turmoil but ruled out immediate prospects for a funding facility for Southeast Asia to cope with the current crisis. "We stand ready to support all of our member countries across East Asia to deal with the challenges arising from the financial crisis," said Jim Adams, the World Bank's East Asia and Pacific regional vice president. He said however the bank did not expect a regional fund to be set up for the purpose following a statement by Philippine President Gloria Arroyo that a "standby facility" would be established to help Southeast Asian...
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By JEANNINE AVERSA, AP Economics Writer 47 minutes ago The economy lurched deeper into the doldrums Wednesday and took the stock market down with it, sending the Dow Jones industrials to a staggering 733-point loss and erasing any hopes that the convulsions that have shaken Wall Street for a month were over. The daylong sell-off came as retailers reported the biggest drop in sales in three years and as a Federal Reserve snapshot showed Americans are spending less and manufacturing is slowing around the country. Piling up losses in a rough final hour of trading, the Dow ended the day down nearly 8 percent - its steepest drop since one week after Black Monday in 1987. The Dow has wiped out all...
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SAN JOSE, Calif.—Chip-equipment maker said Wednesday third-quarter profit dropped sharply as revenue and bookings declined and warned the economy would hurt its performance over the...
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SAN FRANCISCO—If voters see problems on Election Day, YouTube and PBS want them to whip out their video cameras and throw the footage onto a new Web site for documenting voters' experiences on Nov. 4. But the organizations also have a stern warning for overzealous...
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Among the earnings stories for Wednesday, Oct. 15, from AP Financial News: NEW YORK (AP) -- EBay Inc. posted a third-quarter profit that beat analyst forecasts Wednesday, but its lower-than-expected fourth-quarter...
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