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Stocks tumble after dismal jobs reportNews of a rapidly weakening job sent stocks tumbling Friday as investors feared that the recession will be deeper and more prolonged than many have expected. The major indexes were all down more than 1 percent and the Dow Jones industrials fell 175 points.
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Employers cut 533K jobs in November, most in 34 yearsSkittish employers slashed 533,000 jobs in November, the most in 34 years, catapulting the unemployment rate to 6.7 percent, dramatic proof the country is careening deeper into recession.
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Oil plummets on dire U.S. jobs figuresOil prices plummeted Friday as the already battered market reacted to unexpectedly high U.S. unemployment figures - the latest dramatic evidence of recession in the world's largest market for crude.
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Home loan troubles break records againA record one in 10 American homeowners with a mortgage were either at least a month behind on their payments or in foreclosure at the end of September as the source of housing market pressure shifted to the crumbling U.S. economy.
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Merrill Lynch shareholders approve sale to BofAMerrill Lynch & Co. shareholders on Friday approved the investment bank's sale to Bank of America Corp., in a move that will create the nation's largest financial-services firm.
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- Perdue back on the road, talking about economy
Updated at 9:36 a.m. - Sypris Technologies expands Morganton plant
Posted Dec. 4 7:31 p.m. - Washington-based catalog company to cut 200 N.C. jobs
Updated at 10:57 a.m. - Golden LEAF grants to target Edgecombe
Dec. 4, 2008 - New facility and jobs to be added in Greensboro
Dec. 3, 2008
- Perdue back on the road, talking about economy
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- Monster breaks ground for new service facility in S.C.
Posted at 8:01 a.m. - UNC to receive 8,000 mice from closing Tenn. genoics lab
Updated at 11:02 a.m. - Clinical research firm PRA International opens third German office
Updated at 11:04 a.m.
- Monster breaks ground for new service facility in S.C.
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- Gift guide: Tech gifts for the budget-conscious
Posted at 9:09 a.m. - First NFL game in 3-D fumbles, then recovers
Updated at 5:59 a.m. - Microsoft taps Yahoo exec to lead Web business
Updated at 9:12 a.m. - Review: MiBook is cheap, colorful e-book reader
Posted Dec. 4 5:13 p.m. - Solar car completes 1st ever round-the-world trip
Updated Dec. 4 3:13 p.m.
- Gift guide: Tech gifts for the budget-conscious
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- Bush, Hill leaders: job losses argue for auto help
Posted 13 minutes ago - AP IMPACT: Some bailout holdings down $9 billion
Updated at 10:58 a.m. - Hartford Financial raises guidance; shares jump
Posted 27 minutes ago - Brown-Forman reports 11 pct rise in 2Q earnings
Updated at 10:13 a.m.
- Bush, Hill leaders: job losses argue for auto help
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- Climate change, drought to strain Colorado River
Posted at 4:39 a.m. - NASA delays Mars mission to 2011
Updated Dec. 4 6:51 p.m. - Groups protest drilling-lease auction in Utah
Posted Dec. 4 10:26 p.m. - NASA sets May date for Hubble telescope repairs
Posted Dec. 4 6:31 p.m. - Proposed fee on smelly cows, hogs angers farmers
Posted at 3:12 a.m.
- Climate change, drought to strain Colorado River
- Philanthropy Journal
- Trust buys land ‘too pretty to develop’
Posted at 9:05 a.m. - Kraft takes food to the hungry
Posted at 9:05 a.m. - Winston-Salem Foundation makes grants
Posted at 9:05 a.m. - Resource aims to aid struggling nonprofits
Posted at 9:05 a.m.
- Trust buys land ‘too pretty to develop’
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