The fall-out from the credit crunch hit the financial sector hard again as Citigroup agreed to a $20bn settlement with regulators over its marketing of auction-rate securities and AIG shares plunged amid fears the insurer might need more capital
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The boost to US retailers from about $100bn of tax rebate cheques has proved short-lived, with leading chains on Thursday reporting sluggish or falling sales in July, while Wal-Mart warned of slowing sales ahead
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The automotive supply group Dana Holding is to cut about 3,000 jobs, or about 9 per cent of its workforce, in a further sign of trouble for the North American car industry
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Fortress Investment Group, the first major alternative fund group to go public, announced a $55m loss for the quarter
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Warner Music is pushing to extract higher royalties from video games such as Guitar Hero and Rock Star, it said as record labels and music publishers seek to avoid repeating mistakes made at the launch of MTV and the iPod
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Wall Street stocks fell back after three sessions of gains as further losses at AIG appeared to push back the horizon for the end of the credit crisis and Wal-Mart posted disappointing July sales figures.
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AOL continued to weigh on Time Warner as the media group reported a 26 per cent drop in second-quarter income, largely because of weakness at its internet division
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Citigroup is nearing an agreement to buy back at least $5bn worth of auction-rate securities and pay a $100m fine in a settlement with regulators that could be announced as early as Thursday, and that would pave the way for similar deals by other banks
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American International Group and Freddie Mac damped hopes for an easing of the financial crisis after reporting another quarter marked by billions of dollars of credit-related writedowns and substantial losses
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Jerry Yang's hold on the top job at Yahoo has just become even more tenuous after the internet group acknowledged this week that the tally of votes at its annual meeting was incorrect
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Blackstone Group, the private equity group, has raised $2bn for Bayview Financial, a distressed mortgage servicer and fund manager in which it holds a stake, to buy portfolios of ailing mortgage assets in the next few months
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UK-based hedge fund loses $2.2bn from emerging market funds after star manager leaves
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Nasdaq OMX Group said second-quarter earnings rose 81 per cent as it took advantage of the heightened volatility in capital markets and the diversification benefits of the merger between Nasdaq and OMX, which closed in February
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BCE said its quarterly profit was dented by the restructuring costs associated with the Ontario Teachers' Pension Plan's $34bn leveraged buy-out of the communications group
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Wall Street stocks snapped a three-session losing streak as oil prices fell to three month lows and the Federal Reserve kept interest rates on hold for a second straight meeting
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