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More coordinated action needed in market crisis: IMF


The International Monetary Fund on Tuesday called for more coherent and better coordinated global policies to restore calm to markets and said it now

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Russian Machines cashing out of Magna International as lender calls security


Russian magnate Oleg Deripaska is being forced to cash out his 20 million shares in Canadian-based auto parts maker Magna International Inc. (TSX:MG.

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Falling Oil Price Is a Positive Note Amid Turmoil


But lately, nearly lost amid the chaos in the markets, oil prices have been dropping sharply from July’s triple-digit peak. If that trend continues

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Thain to Take Role at Bank of America


Merrill Lynch’s chairman and chief executive, John A. Thain, will remain at Bank of America after the merger of the two financial giants, Bank of A

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Pfizer says R&D projects advancing ahead of schedule


Pfizer Inc., which has faced chronic erosion of its top line due to increased competition from generic drugs, announced Tuesday that its research and

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How J.P. Morgan steered clear of the credit crunch


That call marked the beginning of a remarkable strategic shift that helped J.P. Morgan sidestep the worst of a historic credit crisis. J.P. Morgan mo

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China: 'Out of control' dairy system led to abuse


China's agriculture minister acknowledged Tuesday that the country's milk-gathering system was "out of control" and led to abuses that put contaminat

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Lawmakers say federal bailout could cost $1 trillion


The Bush administration's effort to "avoid an imminent meltdown of the U.S. financial system" could end up costing taxpayers $1 trillion.

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