| Business News |
House passes housing bill; Bush lifts veto threat
(Reuters)
Reuters - The House of Representatives passed
a massive housing rescue bill on Wednesday while the White
House dropped a threat to veto it, paving the way for measures
aimed at shoring up the worst U.S. housing market since the
Great Depression.
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Amazon profit, sales above view and shares rise
(Reuters)
Reuters - Amazon.com Inc said on
Wednesday quarterly profit doubled and sales grew 41 percent,
indicating to Wall Street that many cost-conscious shoppers are
heading online to save money in a tough economy.
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SemGroup gets court OK for initial bankruptcy motions
(Reuters)
Reuters - SemGroup LP, an Oklahoma-based oil
trading services company, on Wednesday said it received
approval from the Bankruptcy Court for its initial motions
related to its bankruptcy.
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Microsoft exec who led Yahoo bid leaving company
(Reuters)
Reuters - Microsoft Corp said on
Wednesday that Kevin Johnson, who as president of Microsoft's
largest business division spearheaded the company's pursuit of
Yahoo Inc , is leaving the software maker.
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China's Zhongxing in talks with GM, FAW: source
(Reuters)
Reuters - China's Hebei Zhongxing Automobile Co
is in talks with General Motors and major Chinese
automaker FAW Group to explore opportunities for cooperation,
including equity ties, a source close to the situation said on
Thursday.
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Sluggish Economy Slows 'Somewhat' As Oil Squeezes Spending, Fed Reports
(Investor's Business Daily)
Investor's Business Daily - The economy has slowed "somewhat" as rising energy prices and the credit crunch force consumers to cut back, the Federal Reserve said Wednesday.
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| Iraqi PM says crackdown shows he's not sectarian - 12, May 2008 |
By Waleed Ibrahim and Aseel KamiBAGHDAD (Reuters) - Iraq's prime minister said on Monday a crackdown on Shi'ite militias proved his government was not sectarian, in the face of persistent accusations by Sunni Arabs that he has favored Shi'ites since taking office.Nuri al-Maliki, a Shi'ite Islamist, ordered an operation against Shi'ite militias in the southern city of Basra in late March to break their grip on Iraq's hub for oil exports.The offensive sparked fierce resistance from the Mehdi Army militia of Shi'ite cleric Moqtada al-Sadr. While fighting with security forces eased in Basra within a week, clashes with Shi'ite gunmen raged in the cleric's Baghdad stronghold of Sadr City until an agreement last weekend to halt fighting."The events of the past weeks have proven that we are neutral, not biased, that we did not take the side of this party or this sect against another," Maliki said of his Shi'ite-led government in a speech to parliament."We have also proven there is no security for any sect unless other sects can be guaranteed their security."Since becoming prime minister in May 2006, Maliki has faced constant criticism from minority Sunni Arabs that he has promoted the interests of majority Shi'ites ahead of the country's other sectarian and ethnic groups.Sadr's movement in parliament and the ruling Shi'ite alliance reached an agreement on Saturday to end fighting in Sadr City and allow aid to reach the slum's 2 million residents.However, sporadic clashes continued, indicating some gunmen claiming loyalty to Sadr ignored the deal. It has long been unclear how much control the anti-American Sadr has over some of the tens of thousands of gunmen who profess allegiance to him.
(c) 2008 Reuters
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GENEVA (Reuters) - India welcomed on Wednesday an offer by the United States to limit its disputed farm subsidies as part of efforts to save a global trade deal but immediately came under pressure from Washington to make concessions itself.
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SDEROT, Israel (Reuters) - U.S. Democratic presidential candidate Barack Obama assured Israel and its U.S. Jewish supporters on Wednesday he was a friend who would not press for peace concessions that would compromise its security.
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TEHRAN (Reuters) - Iranian President Mahmoud Ahmadinejad on Wednesday praised U.S. participation in last week's talks with Tehran on its disputed nuclear program as "a positive step" and said its arch foe had shown respect.
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WASHINGTON (Reuters) - The Arctic Circle holds an estimated 90 billion barrels of recoverable oil, enough supply to meet current world demand for almost three years, the U.S. Geological Survey forecast on Wednesday.
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