Wall Street Dips After Oil Rally Spooks Traders
Spooked traders unraveled a stock rally as banks concerns and oil price jumps weighed. The Dow fell 92.12 points to 9949.36, the S&P 500 slid 9.66 to 1081.40, and the Nasdaq declined 12.74 to 2150.78 after earlier gains.
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Standard & Poor
Rockwell Collins lands five year Canadian defense contract
The Canadian Department of National Defence awarded Rockwell Collins a five year, 52.3 million dollar contract to supply updated satellite terminals. The deal aims to boost communications capability for Canadian forces through expanded satellite links.
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Department of National Defense
Rockwell Collins
Canadian Defense Department
Mets portrayed as winners in Madoff fraud case
Court trustee Irving Picard labels the New York Mets as winners in the Bernard Madoff Ponzi scheme, claiming the Mets Limited Partnership profited from about 523 million dollars, with roughly 571 million withdrawn. The Mets defend that profits had no effect on team operations.
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Irving Picard
Bernard Madoff
New York Mets
Mets
Picard
Mets Limited
Euro tops $1.50 for first time in 14 months
The euro surged past $1.50 against the dollar for the first time in 14 months as a recovering stock market reduced demand for the U.S. currency as a safe haven. It peaked at $1.5046 in New York, up from $1.4928, and marked the strongest level since August 2008 when it traded above $1.56.
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U.S
New York
Wells Fargo reports $2.6B Q3 profit despite loan losses
Wells Fargo & Co said its third quarter profit reached 2.6 billion dollars as its retail banking arm including Wachovia units offset rising loan losses. The San Francisco bank posted credit losses of 5.1 billion dollars, or 2.5 percent of its loan portfolio, up from 2.0 billion a year earlier and 4.4 billion in Q2.
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Wells Fargo & Co
Wachovia Corp
Wells Fargo
Iowa danger from 2007 toxic releases at Tyson plants
Orlan Love of The Gazette reports toxic chemicals totaling 3.3 million pounds were discharged into Iowa waterways in 2007. Tyson Fresh Meats facilities in Columbus Junction and Perry released large amounts into the Iowa, Cedar and Racoon rivers, per Environmental Iowa. The EPA Toxics Release Inventory data highlight health and wildlife risks, though the group calls the inventory misleading without proper context.
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Orlan Love
Gazetteactories
Iowa
Tyson Fresh Meats
Columbus Junction
Cedar Rivers
Eric Nost
Environment Iowa
Tyson
Perry
Raccoon
U.S
Environmental Protection Agency
Iowa rivers receive most toxic discharges in 2007
The EPA release inventory shows Iowa rivers receiving high totals of toxic discharges in 2007 led by the Iowa and Des Moines rivers, with nitrates mainly from farming. Tyson and other Eastern Iowa plants say they comply with permits, while officials note most nitrates originate from agriculture. Nationwide, 232 million pounds were released.
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Tyson
Gary Mickelson
Iowa
Mary Skopec
Department of Natural Resources
Ohio River
New River
West Virginia
Mississippi River
Mississippi
Missouri
Indiana
Nevada
Cambrex Inc
Charles City
PMX Industries
Cedar Rapids
Prairie Creek Generating Station
John Deere Waterloo
Iowa unemployment rate remains at 6.7 percent
Iowa’s jobless rate stayed at 6.7 percent in September amid signs of modest hiring improvement. Workforce Development Director Elisabeth Buck cited persistent long term joblessness as a major state problem, with the Cedar Rapids MSA rising to 6.4 percent due to job declines in trade transportation and leisure hospitality. Iowa City MSA rose or fell to 4.5 percent amid services and state government gains.
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Dave DeWitt
The
Gazette
Iowa
Elisabeth Buck
Buck
Iowa City
Iowa adds manufacturing jobs while Michigan tops jobless list
The fall semester begins at the University of Iowa as unemployment holds at 4.2 percent in North Dakota to 15.3 in Michigan. Iowa unemployment stands at 6.7 percent tied with Oklahoma Vermont and Montana, with September nonfarm payrolls down 1,200 but manufacturing up 2,400. Trade and transportation sheds 4,500 jobs, retail alone 3,000.
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North Dakota
South Dakota
Nebraska
Utah
Iowa
Montana
Vermont
University of Iowa
Towa
Oklahoma
Michigan
Arizona
Economic Policy Institute
Obama shifts bailout funds to support small businesses
President Obama announced a plan to redeploy the $700 billion Troubled Asset Relief Program toward Main Street, easing credit for small firms through community banks, boosting SBA loan caps, and extending help to banks serving low income areas. The initiative targets rural and urban communities hardest hit by the crisis.
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Landover
Barack Obama
Wall Street
Main Street
Obama
Congress
Small Business Administration
America
Washington
Metropolitan Archives
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BP Products North America
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Gazcomm.com
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the Gazette
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U.S. Bureau of Labor Statistics
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