Economy Nov 26

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Why GM’s mistaken bet led to major layoffs

General Motors has announced it is cutting its workforce by 14,000 employees, closing several plants in North America and eliminating at least five passenger car models. The corporate overhaul, which represents the company's biggest shakeup since it faced bankruptcy a…

World Jul 17

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News Wrap: Obama warns Putin of further sanctions

In our news wrap Thursday, President Obama advised Russian President Vladimir Putin to avoid further sanctions, a day after new measures to punish Moscow’s support of Ukrainian rebels. Putin said the sanctions will push U.S.-Russia relations to a “dead end,”…

The U.S. economy sank at a pace of just 1 percent in the second quarter of the year, the Commerce Department reported Friday, in a better-than-expected showing that the recession could be winding down.

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