Bank of America halts foreclosures nationwide
Bank of America paused foreclosures across the United States to review tens of thousands of cases for document flaws amid rising housing market pressure. PNC Financial joins as a major lender pausing in some states, with Ally GMAC Mortgage and JPMorgan Chase already airing similar steps. Bank officials cite AG and public official scrutiny and aim to prove process accuracy, acknowledging a weeks long review.
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NAB Research
Economic Crisis Includes Jobless Politicians
The Labor Department reports a September net loss of 95,000 jobs as teacher and local government layoffs offset private hiring. Unemployment sits at 9.6 percent with underemployment over 17 percent, signaling a weak economy ahead of the November elections.
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Obama
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Ohio
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Gfk
IMF urges end to currency wars to aid fragile recovery
IMF Chief Dominique Strauss-Kahn warned finance ministers at the 187-nation meetings that currency wars threaten the global recovery and risk a lost generation without faster job growth. Treasury Secretary Geithner pressed China to let the yuan rise, while Zhou Xiaochuan defended gradual reform.
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Toyota to add two new Prius models by 2012 end
Toyota plans two new Prius variants by year end 2012 expanding the hybrid line toward a broader U S market. Dealers say one will be larger with Camry like wagon styling, while the other remains closer to the current Prius size.
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GreenCar Advisor.com
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the Market IN Review
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