Toyota nears lead as world’s largest automaker in 2007
Toyota Motor Corp reports 2007 global sales of 9.37 million vehicles, a figure that could top General Motors' estimate and end GM’s 76 year reign. Toyota overseas sales rose 10 percent to 71 million, while Japan sales slipped 4 percent to 2.26 million. GM has not released final numbers, with an early 9.3 million estimate.
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Delta shares surge on merger speculation in Atlanta
Delta Air Lines stock jumped over 18 percent after renewed talk of a possible deal with another carrier. Shares closed up $2.46 at 15.98 as pilots union leader Lee Moak hinted consolidation could be near, following prior denials about UAL and chatter of a Delta Northwest tie‑up.
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Fixed rates dip below six percent for 30 year mortgag es
Freddie Mac reports 30 year fixed rate mortg ages averaged 5.87 percent this week, the lowest in over two years, down from 6.07 percent. Analysts link the decline to a January employment report showing unemployment rising to 5 percent in December, the highest in two years. On the Net: www.freddiemac.com
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Bank of America Eyes Countrywide Buy Amid Uncertain Deal
Bank of America is in talks to acquire Countrywide Financial, the nation’s largest mortgage lender, as shares tumble and bankruptcy rumors surface. A deal timing remains unclear and could be delayed or collapse.
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Oil prices fall on economic worries
New York futures dropped as concerns mount over a U.S. economic slowdown reducing demand. Bernanke signaled possible rate cuts to avert recession, while Nigerian rebel attacks and weak unemployment data kept prices in negative territory. February crude settled at 93.71 while national gas averaged 3.10 per gallon.
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