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Treasury near GSE bailout plan: report (Reuters) |
 Reuters - The U.S. Treasury
Department is close to finalizing a plan to buttress mortgage
finance companies Fannie Mae and Freddie Mac ,
The Wall Street Journal reported on Friday.
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Boeing machinists to strike as contract talks fail (Reuters) |
 Reuters - Boeing Co's
27,000-strong machinists' union declared it will strike at
midnight Pacific time on Friday, as the plane maker failed to
improve its contract offer after two days of emergency talks.
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Greenberg could pay fine of up to $100 million: report (Reuters) |
 Reuters - Maurice "Hank" Greenberg, the former
CEO of American International Group Inc , could face a
fine of up to $100 million to settle three-year-old civil fraud
charges brought by New York's attorney general, according to
business news channel CNBC on Friday.
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GE gets "Wells notice" in SEC accounting probe (Reuters) |
| Reuters - General Electric Co said on
Friday it had been notified by U.S. regulators that a civil
complaint could be filed against the company following a more
than three-year-long probe into its use of hedge accounting for
derivatives and other accounting matters. |
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Jobless rate at 5-year high (Reuters) |
 Reuters - An unexpectedly steep 84,000 U.S.
jobs were lost in August and the national unemployment rate hit
a five-year high of 6.1 percent, fanning worry ahead of
November's presidential vote about rising recession risks.
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Wall Street bounces back from dismal jobs report (AFP) |
 AFP - Wall Street shares recovered from steep early losses and finished mostly higher Friday as the market was able to shake off a jump in unemployment that sparked renewed fears of a US recession.
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More Cons Than Pros To 401(k) Loan (Investor's Business Daily) |
| Investor's Business Daily - In the past year, the credit crunch has spread from mortgages to student loans and other types of debt. Home equity lines of credit have been reeled in. |
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Slow August sales signal more weakness in retail (AP) |
 AP - When it came to buying their children new jeans and trendy tops, parents held the line: They focused on basics at discounters and waited for the best deals, resulting in weak August sales at many stores. That's a bad sign for the holiday season as families may be just as cautious with their gift-giving.
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