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From Associated Press:
Stocks surge higher, but credit worries persistNEW YORK (AP) -- Wall Street snapped back Tuesday after its biggest sell-off in years amid growing expectations that lawmakers will salvage a $700 billion rescue plan for the financial sector. But the seized-up credit markets where businesses turn to raise money showed no sign of relief....
S&P: Home prices post 16 pct annual drop in JulyNEW YORK (AP) -- A closely watched index released Tuesday showed home prices tumbling by the sharpest annual rate ever in July, and though the monthly rate of decline is slowing, there is no turnaround in sight....
Lawmakers hope new ideas will revive bailout planWASHINGTON (AP) -- Alarmed by setbacks, supporters of the imperiled multibillion-dollar economic rescue fought to bring it back to life Tuesday, courting reluctant lawmakers with sweeteners including a plan to reassure Americans their bank deposits are safe....
Consumers in gloomy mood on cusp of holiday seasonNEW YORK (AP) -- With the holiday shopping season about to start, consumer confidence is hovering near the lowest it's been since President Bush's father was commander in chief. It may dip further as Americans open their 401(k) statements and see how much they've lost in the last few weeks....
With banks in miser mode, credit markets stay tautNEW YORK (AP) -- Stocks are rebounding and a new bailout package could be coming soon, but the credit markets - where day-to-day borrowing occurs to keep the gears of the economy turning - are still stuck....
Oil prices rebound above $100 after huge sell-offNEW YORK (AP) -- Oil prices swung back above $100 a barrel Tuesday following a precipitous plunge a day earlier, with a growing consensus among investors that Congress will resurrect a failed U.S. financial bailout plan....
FDIC urges temporary hike in insured deposit limitWASHINGTON (AP) -- The agency that protects U.S. bank deposits is asking Congress for temporary authority to boost deposit insurance limits as the government works to contain the financial crisis....
Global stocks volatile on bailout rejectionLONDON (AP) -- Volatile world stock markets showed mixed reactions Tuesday to U.S. lawmakers' rejection of a $700 billion economic rescue plan, with global investors turning from sellers to buyers as the day progressed....
Pfizer shifts focus to cancer and biotech drugsTRENTON, N.J. (AP) -- Pfizer Inc. is shifting its research focus to diseases that have high potential for big profits and for treatment improvements, such as cancer and Alzheimer's disease....
Judge holds Hexion to Huntsman buyout proposalDOVER, Del. (AP) -- A Delaware judge has refused to allow Hexion Specialty Chemicals to walk away from a $6.5 billion buyout of chemicals maker Huntsman Corp....
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