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U.S. markets extend losses, Dow down 4%

NEW YORK — US stocks extended a brutal sell-off Thursday, plunging more than four percent in the final hours of trade, fueled by the Federal Reserve’s stark warning about the health of the US economy. The Dow Jones Industrial Average was down 478.47 points (4.30 percent) to 10,646.37 at 1800…

‘Job-killing regulations’ actually just shift jobs within the economy

It’s become a mantra on Capitol Hill and a rallying cry for industry groups: Get rid of the job-killing regulations. In recent days, with nearly every one of the GOP presidential candidates repeating that refrain, the political echo chamber has grown even louder. Earlier this month, President Obama also asked…

Facebook changes spark online complaints

SAN FRANCISCO — Facebook users on Wednesday took to complaining about changes intended to make it easier to manage the torrents of updates from friends at the world’s largest social network. People vented ire in an array of online venues including a “Petition against the new Facebook homepage” at the…

Fed ramps up aid to economy with $400 billion stimulus

WASHINGTON (Reuters) – The Federal Reserve on Wednesday dialed up its aid to the beleaguered U.S. economy, launching an effort to put more downward pressure on long-term interest rates over time and help the battered housing sector. The Fed said it would launch a new $400 billion program that will tilt its $2.85…

Apple ‘to unveil iPhone 5 on October 4′

Apple plans to unveil its next generation iPhone next month, technology blog AllThingsD said Wednesday. AllThingsD cautioned that Apple could “change its plans anytime,” but said the present plan calls for Apple’s new chief executive Tim Cook to preside over the launch of the iPhone 5 on October 4. Cook,…

Court allows ACLU to challenge government wiretapping

The American Civil Liberties Union was allowed Wednesday to move forward with their case against government wiretapping. The U.S. Court of Appeals for the Second Circuit ruled that the court would not have to reconsider a case the ACLU brought against the government challenging the FISA Amendments Act (FAA), which…

Markets hope for Fed boost to U.S. economy

The Federal Reserve is widely expected to offer up some new stimulus for the sagging US economy when it closes a key policy meeting Wednesday, but many question whether it will do much. The two-day meeting of the central bank’s Federal Open Market Committee might move to further press down…

UBS board meets in Singapore amid trading scandal

Swiss banking giant UBS began a meeting of its board in Singapore on Wednesday as it faces increasing pressure from shareholders after being hit by a $2.3 billion rogue-trading scandal. UBS chief executive Oswald Gruebel declined to take questions before going into the bank’s Singapore office for the meeting, which…

Airbus aims to dominate China market

Airbus aims to have more than half the lucrative Chinese aviation market by the end of 2015, a senior executive said Wednesday, as the European giant seeks to close in on rival Boeing. The European plane maker currently holds 46 percent of the booming Chinese sector — a smaller share…

European stocks fall on Greek crisis

European equities and the euro fell on Wednesday on fresh concerns over banks’ exposure to indebted Greece, but losses were capped by expectations of more stimulus measures from the US Federal Reserve. London’s FTSE 100 index of leading shares slid 0.34 percent to 5,345.76 points in morning deals, Frankfurt’s DAX…

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