| 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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| Shi'ite gunmen in Baghdad ignore truce - 13, May 2008 |
By Tim Cocks and Waleed Ibrahim
BAGHDAD (Reuters) - An agreement aimed at ending fighting in the Baghdad bastion of Iraqi Shi'ite cleric Moqtada al-Sadr was on the verge of collapse on Tuesday after gunmen launched a spate of attacks on U.S. troops.
The deal between the ruling Shi'ite alliance and Sadr's opposition movement in parliament to end fighting in the Sadr City slum district was formally signed on Monday.
But with the ink barely dry on the 16-point pact, clashes flared overnight, raising questions over how much control the anti-American cleric has over some of the Mehdi Army militiamen who profess allegiance to him.
"It is clear that Sadr does not control all of the armed groups that make up the Mehdi Army," Kadhum al-Muqdadi, a professor at Baghdad University, told Reuters. "This fighting could last a long time."
A statement from the Mehdi Army leadership that was read out in mosques in Sadr City late on Monday said the agreement needed to be respected, residents said.
Nevertheless, the U.S. military said violence broke out between its troops and militants in Sadr City overnight, where seven weeks of clashes have already killed hundreds of people.
A Reuters witness said there had also been intense gun battles between Iraqi security forces and militiamen on Tuesday in Shula, a Sadr stronghold in northwestern Baghdad.
Iraqi police said 11 people were killed and 20 wounded in clashes in Sadr City since Monday night.
(c) 2008 Reuters
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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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