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Example Headline of Genre for Date
Europe's services sectors shrank in December
AP - Europe's services sector continued to contract sharply in December while the jobs outlook looked increasingly bleak, closely watched surveys showed Tuesday.
Japan's top CEOs say crisis shows US shortcomings
AP - Japan's business leaders said Tuesday the U.S. financial crisis has shown the shortcomings of America's freewheeling approach to business, but defended the end of this nation's tradition of lifetime employment as needed to keep up with global changes.
Euro zone inflation dropped further in December
AP - Inflation in the countries that use the euro currency dropped further in December to 1.6 percent, according to official estimates.
U.S. office vacancies rise as recession bites
Reuters - U.S. office vacancies spiked higher in the fourth quarter and rents fell as the recession took a heavy toll on the commercial property market, according to data released on Tuesday.
US auto sales drop in 2008, recovery unclear
AP - After a year in which U.S. auto sales tumbled 18 percent and GM had its worst year in nearly a half-century amid slack demand fueled by a terrible economic outlook and growing job worries, automakers are reluctant to predict when a recovery might occur.
Euro zone inflation fell below target in December
AP - Inflation in the countries that use the euro currency dropped further in December to 1.6 percent, according to official estimates, stoking market expectations that the European Central Bank will keep cutting borrowing costs in coming months.
Wealth of U.S. millionaires down 30 percent: survey
Reuters - American millionaires have seen their assets shrink by 30 percent during the economic crisis, a report said on Tuesday, with only 36 percent of them pleased with the performance of their financial advisers.
Gov't projects $6.5M in bailout costs through Jan.
AP - The government estimates it will spend $6.5 million by the end of January in salaries and other administrative costs for the $700 billion financial rescue program.
BlackRock's Doll sees solid 2009 U.S. stocks gains
Reuters - The U.S. stock market will gain between 7 percent and 12 percent in 2009, despite an economy that will continue shrinking for at least the first half of the year, a top BlackRock executive said on Tuesday.
Goody's Family Clothing to liquidate stores
Reuters - Goody's Family Clothing, a privately held apparel retail chain which emerged from bankruptcy in October, plans to liquidate its remaining stores as the U.S. economic recession has undermined its ability to continue operating.
Brazil industrial output falls on slowing economy
AP - Brazilian industrial production fell the most in seven years in November as the global financial crisis sapped credit and demand for exports, the government said Tuesday.
Factory orders drop more than expected in Nov.
AP - Orders to factories fell for a record fourth straight month in November, and analysts believe manufacturing will continue to suffer in coming months as the country slogs through a recession entering its second year.
Portuguese central bank foresees recession
AP - Portugal's central bank predicted Tuesday the country's economy will enter recession in 2009 for the third time in six years.
Services index shows less contraction in December
AP - An index of activity in the U.S. services sector contracted at a slower pace in December as new orders and employment improved.
Survey finds older Americans cutting spending
Reuters - Older Americans are spending less on entertainment and restaurant meals as the recession forces them to focus on paying for essentials such as food, gas and medicine, a survey released on Tuesday said.
Fed: Economic woes will last despite radical moves
AP - Even as Federal Reserve officials slashed their key interest rate to a record low and pledged to use other unconventional tools to fight the worst financial crisis since the 1930s, they still feared the economy would be stuck in a painful rut for some time.
US service sector improves slightly in Dec.
AP - A measure of the U.S. services sector improved slightly in December, beating analysts' estimates, but pending home sales and factory orders both fell more than expected and the overall economic outlook remains grim.
Econ slump hitting older Americans hard, AARP says
Reuters - The recession is hitting older Americans hard, forcing many to cut back on contributions to retirement accounts and extras like entertainment and restaurant meals, AARP officials said on Tuesday.
U.S., European data grim
Reuters - Dismal economic data from the United States and Europe pointed to further pain for the world's two largest economies, while aluminum maker Alcoa Inc plans to slash thousands of jobs and curtail operations to conserve cash in a deepening recession.
U.S. budget deficit seen topping $1 trillion in 2009
Reuters - Politicians want American consumers to resume spending to pull the economy out of its tailspin, and the U.S. government is leading by example with a potential $1 trillion deficit in 2009 -- even before a massive stimulus plan.
Housing, factories and services remain in slump
Reuters - The slumping U.S. housing, factory and service sectors produced more misery for the world's largest economy in the last two months of 2008 as the year-old recession looked set to drag on into 2009, data showed on Tuesday.
Meltdown 101: What shows up in the Fed minutes?
AP - Clues about where Federal Reserve officials see the economy heading — or how they can better battle the worst financial crisis since the 1930s — can be uncovered in documents released a few weeks after their closed-door meetings.
Schwarzenegger presses Obama on stimulus measures
Reuters - California has nearly $44 billion in infrastructure projects ready to start and capable of creating nearly 800,000 jobs, Gov. Arnold Schwarzenegger told President-elect Barack Obama in a letter on Tuesday in which he urged a 'substantial federal stimulus program.'
Alcoa to cut 13,500 jobs, reduce output
AFP - US aluminum giant Alcoa said Tuesday it would slash some 13,500 jobs or 13 percent or its global workforce and reduce output to cope with the global economic downturn.
LyondellBasell U.S. units file for bankruptcy
Reuters - LyondellBasell's U.S. operations filed for Chapter 11 bankruptcy protection on Tuesday, weighed down by a heavy debt and decreased demand due to the economic downturn.
Democrats jubilant as new Congress convenes
AFP - The new US Congress was convening Tuesday at the dawn of an era of dominance for Barack Obama's Democrats in Washington with lawmakers consumed by the worst economic crisis in generations.
California Democrats' budget plan taken to court
Reuters - Republican lawmakers in California joined with anti-tax activists on Tuesday in a lawsuit to block a tax plan by Democrats who control the state legislature to help fill the growing state budget shortfall.
Democrats vow action as new Congress opens
AFP - A fresh era of dominance dawned Tuesday for Barack Obama's Democrats as the new US Congress convened with lawmakers gearing up to tackle the worst economic crisis since the 1930s Great Depression.
Fed staff sees contraction in 2009, recovery in 2010
AFP - The US recession is likely to drag on well into 2009 with a 'moderate recovery' in 2010, according to minutes released Tuesday by the Federal Reserve from last month's deliberations ahead of a historic cut in interest rates.
Republicans cry foul over Obama's 'big government' plan
AFP - President-elect Barack Obama's plan to haul the US economy out of recession entails a hefty expansion of the federal government -- a prospect that has conservative critics aghast.
California gov vetoes Democrats' budget plan
Reuters - Republican California Governor Arnold Schwarzenegger has vetoed a budget plan pressed by Democrats who control the state legislature, an aide said on Tuesday evening.
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