Ford Records 800 Million Charge Over Venezuela Currency Woes
Ford Motor Co will take an 800 million charge in the fourth quarter due to exchange rate problems between the Venezuelan bolivar and the US dollar, reducing net income by 700 million after tax benefits. The firm maintains a full year pretax profit target of 6 billion despite currency controls and cut parts availability.
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Detroit
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Itay Michaels
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Michaeli
U.S. gas price dips below two dollars a gallon
U.S. average gas price falls to about 2.04 dollars per gallon as crude oil hovers near 46 dollars a barrel. Economists say lower fuel costs act as a broad tax cut for drivers and could lift consumer spending and growth to about 3.3 percent this year.
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Michael Noel
Texas Tech University
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Julia Conner
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Expedia buys Travelocity for 280 million in cash
Expedia Inc acquires Travelocity from Sabre Corp for 280 million in cash. The Bellevue, Washington company adds Travelocity to its portfolio of sites including Hotels.com and Hotwire. Sabre will focus on its back end while Expedia expands access to hotel supply and services.
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December home sales rise as year ends amid mixed housing
The National Association of Realtors reports December existing home sales up 2.4 percent to a 5.04 million annual rate, while 2014 totals fall 3.1 percent to 4.93 million. First time buyers hold 29 percent of sales. affordability has improved with lower mortgage rates.
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National Association of Realtors
Stuart Hoffman
PNC Financial Services
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Jennifer Lee
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Jed Kolko
Trulia
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