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Sprint CEO sees insulation from economic havoc

Sprint Nextel Corp is keeping an eye on the U.S. economy as stock markets take a rollercoaster ride and credit tightens, but its chief executive said on Thursday telecommunications companies have some insulation against a downturn.

Borse Dubai bids $4 billion for Nordic OMX

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Borse Dubai launched a $4 billion cash offer for Nordic exchange owner OMX on Friday, trumping an agreed deal with U.S. exchange Nasdaq, in a bid to create a group with global reach.
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Global stocks take a dive again as risk jitters prevail

World stocks took another dive on Friday despite early attempts at a rebound in Europe while currency dealers drove the Japanese yen to a 14-month high against the dollar, throwing out risky leverage. Wall Street looked set for a weak opening.
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Wall St soars after Fed's discount rate cut

Stocks surged on Friday to end a turbulent week after the Federal Reserve cut the discount rate it charges banks in an emergency move to stabilize credit markets and keep the economy on track. World stock markets have fallen sharply, with investors fleeing riskier assets as problems in U.S. subprime mortgage lending spread rapidly in other credit markets .
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Dramatic late rally drives S&P back into black

A remarkable end-of-day rally pushed the benchmark S&P 500 higher on Thursday after investors snatched up financial stocks that looked cheap after weeks of pummeling by global credit market turmoil.
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Mortgage REIT woes are a blast from the past

A crisis in credit markets triggered by a collapse of the U.S. subprime mortgage market has shuttered several mortgage real estate investment trusts and threatened the sector, rekindling memories of a similar crisis 30 years ago.
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Yen hits 14-month high vs dollar on credit fears

The yen had its biggest rise against the dollar in six months in volatile trading on Thursday as investors fearing a global credit crisis exited risky trades financed by borrowing the Japanese currency.
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Bear Stearns cuts 240 subprime jobs

Bear Stearns Cos Inc said on Thursday it will cut about 240 subprime lending jobs as a global credit squeeze and a subprime lending crisis rattles markets.
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First Magnus, big mortgage lender, halts loans

First Magnus Financial Corp., one of the largest independent U.S. mortgage lenders, said on Thursday it has stopped funding home loans and taking mortgage loan applications because investors are not buying its loans.
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Fannie bulked up on risky loans in 2006

Fannie Mae, the nation's largest source of home loan funding, increased its holdings of risky subprime loans in 2006 while its profits fell that year, the company said on Thursday in a long-delayed report.
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Global stocks dive as U.S. bonds jump

Fears that tighter credit in the U.S. subprime housing sector will choke off growth in other sectors sent stock markets around the world sharply lower on Thursday while government bonds rallied in a flight to safety.
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Mortgage angst hits commodities

Prices of metals, energy and grains tumbled on Thursday as commodities were caught up in a global rush out of risky investments for the safety of cash.
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Dow ends lower on credit and economy worries

The Dow industrials closed lower for a sixth day on Thursday on fears that credit markets may break down and hurt the economy and profits, but a remarkable late-day surge almost brought them back into the black.
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New ad tactics can weather economic woes: BBDO

Companies worried about a U.S. economic slowdown should think twice before cutting their marketing budgets, particularly when it comes to money earmarked for more unconventional types of advertising.

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