U.S. imposes duties on Chinese steel pipes spark trade dispute
The United States orders duties on Chinese steel pipes, the largest ever in this sector, affecting about 2.8 billion in imports. The ITC set rates from 10.36 to 15.78 percent with possible further tariffs up to 96 percent. U.S. Steel and Republic Engineered Products faced layoffs as demand faltered. Lorain and other plants may rebound if inventories clear and production restarts.
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Government Backs Fannie and Freddie with Unlimited Aid
The Treasury extends unlimited losses through 2012 for Fannie Mae and Freddie Mac, lifting the prior 400 billion cap. The move, unseen by Congress, aims to keep mortgage rates low, help homeowners and banks, and may reduce foreclosures while expanding the enterprises' investment flexibility.
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Fox in dispute over fees with Time Warner
Fox and Time Warner Cable clash over monthly per subscriber fees for Fox channels. If no deal is reached by Thursday the Simpsons Sugar Bowl Cotton Bowl and NFL games may disappear from Time Warner systems in major markets.
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Time Warner
Los Angeles
Time Warner Cable
New York
Fox Television
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Glenn Britt
Britt
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John Kerry
D-Mass
GM presses ahead with Saab wind down despite bids
General Motors said it will wind down the Saab brand while continuing to hear bid proposals. Spokesman Tom Wilkinson noted no firm deadline beyond earlier dates and Saab remains open to offers as GM restructures toward four core brands. Trollhattan plant and dealers are cited among Saab’s 3,400 employees and 1,100 dealers worldwide.
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