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New recession fears loom as world stocks dive

Global stocks plunged on Friday on the increasing prospect of a sharp economic downturn, with attention focused on US jobs data, widely expected to deepen the gloom of flagging growth and eurozone debt. European stock markets initially dived 3.0-4.0 percent after heavy falls in Asia and on Wall Street as…

US stocks plunge, Dow falls more than 500 points

The Dow Jones Industrial Average plunged 4.3 percent Thursday, its worst one-day drop in more than two years, as global markets melted down over fears of another world economic downturn. The Dow was down 512.76 points to 11,383.68; the broader S&P 500 lost 4.8 percent to 1,200.07, while the tech-heavy…

U.S. company profits surge, even as economy slows

Major US companies are packing away record profits even as the economy falters, unemployment remains high and the debt-ceiling crisis has shaken confidence in the country, analysts said. In July, corporate giants such as 3M, Caterpillar, Goodyear, Microsoft and Apple reported blockbuster results in the second quarter of 2011, though…

Companies near record profits amid high unemployment

NEW YORK — Major US companies are packing away record profits even as the economy falters, unemployment remains high and the debt-ceiling crisis has shaken confidence in the country, analysts said. In July, corporate giants such as 3M, Caterpillar, Goodyear, Microsoft and Apple reported all-time high revenues in the second…

Oil prices hit multi-year highs amid Libya unrest

NEW YORK — Oil sold in New York crossed the symbolic $100 a barrel level Wednesday, hitting prices not seen since 2008, amid fears over supplies from Libya. As traders panicked that political chaos could spread further in the Middle East, the main US contract reached $100 a barrel for…

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