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Bluefield Daily Telegraph in Bluefield, West Virginia

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Newspaper

Bluefield Daily Telegraph

Location

Bluefield, West Virginia, United States of America

Date

Dec 08, 2010

Page

17

Stocks end flat after tax cut rally fades

Stocks closed mixed as optimism over extending tax cuts faded while bond prices fell and the 10 year yield climbed to 3.13 percent. The Dow slipped 0.03 percent to 11,359.16 while the S and P 500 gained 0.6 percent to 1,223.75 and the Nasdaq rose 0.1 percent to 2,598.49. Citigroup jumped 3.8 percent after a government deal to sell its remaining stake, Nicor surged on news of a $2.38 billion acquisition by AGL Resources, and New York Times climbed 4 percent as print ads show signs of weakness easing. European markets rose as euro ministers considered expanding the bailout fund, and Ireland approved a tax hike backed budget. The dollar firmed about 0.5 percent.

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Tax deal boosts economy says analysts and officials

The tax deal from President Obama and Republicans is expected to raise take home pay, spur consumer spending, and create hundreds of thousands of jobs by extending income tax cuts and unemployment benefits. Analysts cite a 2 percent Social Security tax cut, higher business investment write offs, and the estate tax limits as key drivers of growth through 2011 and beyond.

Ashington Barack Obama Republicans Mark Zandi Moody’s Analytics Zandi Jpmorgan Chase Congress Obama GOP Citizens For Tax Justice Deutsche Bank Center For American Progress Labor Department White House Michael Linden Linden

Virginia forms offshore wind panel to study sea data

The eight member Virginia Offshore Wind Development Authority began with a report on using the Chesapeake Light Tower 13 miles off Virginia Beach as a data platform. The panel heard about costs from 4 to 7 million for a star tower, maintenance of 1.5 million, and NASA and NOAA radar testing needs amid concerns about launch operations.

Richmond Chesapeake Virginia Beach United States Virginia Offshore Wind Development Authority Dominion Virginia Power Atlantic Orbital Sciences Corp NASA Bob Mathias Federal Aviation Administration Mathias National Oceanographical Atmospheric Administ Ifion Virginia Department of Minerals and Energy Becaus

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