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Stocks decline as AIG reveals need for cash, oil surges
Wall Street ended the week with a big decline as investors grappled with two of the biggest threats to the economy: fallout from turmoil in the credit market and surging energy prices. All three major indexes suffered losses for the week.
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Circuit City allows Blockbuster, Icahn to review books
Circuit City Stores Inc. on Friday gave in to pressure from activist shareholders, essentially putting itself up for sale and agreeing to nominate dissident directors to its board.
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Gas jumps above $3.67, oil passes $126 on Venezuela concerns
Oil rose above $126 a barrel for the first time Friday, bringing its advance this week to nearly $10, as investors questioned whether a possible confrontation between the U.S. and Venezuela could cut exports from the OPEC member. Gas prices, meanwhile, rose above an average $3.67 a gallon at the pump, following oil's recent path higher.
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Icahn prepared to buy Circuit City if Blockbuster can't
Consumer electronics retailer Circuit City Stores said Friday that it will allow Blockbuster to review its books in connection with the video-rental chain's bid to buy the company.
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March trade deficit drops by bigger-than-expected amount
The U.S. trade deficit narrowed sharply in March as demand for imports fell by the largest amount since the last recession was ending. Analysts forecast that trade would continue to be one of the economy's few bright spots this year.
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- AP Interview: Amusement park CEO expects good summer
May. 7, 2008 - Greensboro chip maker to cut about 200 jobs
May. 7, 2008 - SEANC announces affiliation with union
May. 5, 2008 - The Charlotte Observer offers buyouts to some employees
May. 5, 2008 - Pilgrim's Pride posts loss, blames rising feed costs
May. 5, 2008
- AP Interview: Amusement park CEO expects good summer
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- Trimeris to pay stockholders $50 million
Posted at 7:40 a.m. - Facebook to beef up online protections
May. 8, 2008 - N.C. Research Campus, Local Tech Wire team up for preview of Kannapolis campus
Posted at 5:29 a.m.
- Trimeris to pay stockholders $50 million
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- Facebook to let users carry profile with them
Posted at 4:58 p.m. - Conference attendees in San Francisco sickened
Posted 34 minutes ago - Data from Columbia disk drives survived the shuttle accident
Updated at 3:19 p.m. - Microsoft appeals $1.4B EU antitrust fine
Posted 55 minutes ago - EBay's PayPal rule in Australia draws fire
Posted at 12:12 p.m.
- Facebook to let users carry profile with them
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- Fedex cuts 4Q profit forecast, blames fuel costs
Posted at 4:24 p.m. - Asset sales boost Clear Channel profit; Deal still in limbo
Updated at 4:33 p.m. - Diageo brews $1.25B Irish overhaul
Updated at 1:36 p.m. - Gates: Microsoft to go its own way
Updated at 3:58 p.m. - AIG posts 1Q loss of $7.8B, plans to raise $12.5B
Updated at 12:10 a.m.
- Fedex cuts 4Q profit forecast, blames fuel costs
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- New idea in mortuary science: Dissolving bodies with lye
May. 8, 2008 - Seaweed provides clues to earliest inhabitants of Americas
May. 8, 2008 - Oldest gorilla in captivity turns 55 at Dallas Zoo
Updated at 4:05 a.m. - Conservationists, developer reach major Calif. land deal
Updated May. 8 11:05 p.m. - Spain claims $500 million in sunken treasure
Updated May. 8 10:56 p.m.
- New idea in mortuary science: Dissolving bodies with lye
- Philanthropy Journal
- Charlotte foundation giving grows
Posted at 8:15 a.m. - Blackbaud reports income, revenue growth
Posted at 8:17 a.m.
- Charlotte foundation giving grows
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More acquisitions looming? Peak 10 secures $60M credit facilityCharlotte-based provider of data hosting, other services plans expansion, CFO says.
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