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Volcker says economy recovery a long slog

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Paul Volcker, senior economic adviser to President Barack Obama, said on Saturday that the U.S. economic recovery will be a long slog but that the rate of decline is going to slow.

Volcker sees recovery as long slog

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Paul Volcker, senior economic adviser to President Barack Obama, said on Saturday that the U.S. economic recovery will be a long slog but that the rate of decline should slow.
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Alcoa posts $1.19 bln loss as aluminum demand drops

Alcoa Inc. the third largest aluminum maker in the world, announced Monday its first net loss in six years during its fourth quarter, lower than analysts expected as the economic downturn impacted demand and prices of the metal.
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Alcoa to cut 13 percent of global workforce

The world's third-largest aluminum producer Alcoa Inc. announced Tuesday it will reduce about 13 percent of its global workforce by the end of the year due to the faltering world economy.
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UPS to increase freight rate

UPS Inc. announced on Friday that it will increase the general rate of about 5.4 percent on non-contractual shipments in the U.S. and Canada.
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Freddie Mac expects $10-12 billion credit losses

Freddie Mac expects to see credit losses of $10 billion to $12 billion on the book of mortgages it currently owns, the mortgage finance company's chief executive said on Tuesday. Freddie Mac has already recorded many of those losses from recently failing loans and had previously disclosed its expectation of multi-billion dollar write-offs, an analyst said.
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Mortgage players speed-date to lift subprime gloom

It's not just for lonely hearts anymore. Speed-dating a way for busy singles to meet was on the event list at a distinctly unromantic venue, the Information Management Network's ABS East conference, in a bid to bring together investors and issuers still reeling from this year's U.S. subprime mortgage meltdown.
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U.S. reviews financial aid to Pakistan

U.S. Secretary of State Condoleezza Rice said on Sunday the United States would review billions of dollars in financial aid to ally Pakistan after President Pervez Musharraf declared emergency rule.

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