Obama vows changes in use of bailout funds
President-elect Barack Obama pledges to alter spending of the remaining 350 billion from the 700 billion bailout. He aims to direct relief to housing and small business, with tougher oversight and transparency as Larry Summers says a broadened set of goals will guide aid to banks, homeowners, consumers, and large institutions.
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Michelin Energy Saver tire debut at Detroit show
Michelin introduces Energy Saver All-Season tires aimed at improved fuel economy and safety with better road grip. A HydroEdge upgrade also touted as long lasting with a 90000 mile warranty as part of the company’s offerings.
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Stocks Fall On Weak Oil Prices Amid Economic Worries
Wall Street extended losses as investors anticipated bleak fourth quarter and full year earnings. Oil tumbled eight percent to a yearly low, sparking fears of weaker demand and deeper economic softness. Alcoa slashed production and posted a fourth quarter loss of 1.19 billion dollars as financial stocks waver over a potential Citigroup Morgan Stanley tie up.
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Stock Exchange Highlights Market in Review
Monday market wrap notes gains and losses across major sectors. Chea Nave reports on trading drivers, notable moves in blue chips, and closing indexes amid cautious investor sentiment.
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