President Barack Obama announced Thursday that Chrysler would head into bankruptcy with the aid of up to another $8 billion in taxpayer money, a last-resort attempt to quickly restructure the struggling giant. He blasted hedge-fund creditors whom he said held…

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Obama backs Chrysler bankruptcy as wise move

Health officials warned doctors and patients Thursday about potentially deadly risks of using the anti-wrinkle drug Botox and similar drugs for unapproved uses to treat certain types of muscle spasms. The Food and Drug Administration said Botox and two other…

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FDA warns of deaths with unapproved use of Botox

Chrysler will file for bankruptcy after talks with a small group of creditors crumbled just a day before a government deadline for the automaker to come up with a restructuring plan, President Barack Obama said Thursday. The Obama administration said it had…

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Chrysler will file for Chapter 11 bankruptcy

WASHINGTON — Chrysler will file for Chapter 11 bankruptcy protection in New York today and will be eligible for up to $8 billion in federal aid to rebuild the ailing automaker, according to senior administration officials. (Read more.) The officials…

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Chrysler to get up to $8B from govt for bankruptcy

Investors found another reason to be hopeful about the economy. In a welcome surprise for Wall Street on Thursday, the Labor Department said initial claims for jobless insurance fell last week by 14,000 to 631,000. Economists had predicted an increase. A…

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Drop in jobless claims pushes stocks higher

NEW YORK (Reuters) – Stocks pared gains on Thursday after an Obama administration official said beleaguered U.S. automaker Chrysler LLC will file for bankruptcy protection in New York “almost immediately.”

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Stocks cuts gains as Chrysler bankruptcy looms

WASHINGTON (Reuters) – The number of U.S. workers filing new claims for unemployment aid fell unexpectedly last week, suggesting the pace of layoffs was easing, even as benefit rolls in mid-April swelled to another record high.

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U.S. jobless claims fall, but spending and income ease

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Chrysler to File Bankruptcy

Tyco International Ltd., the world’s largest maker of security systems through its ADT unit, posted a second-quarter loss after writing down goodwill amid a global recession. Excluding some items, profit exceeded analyst estimates. The net loss of $2.57 billion, or…

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Tyco has loss on Goodwill; exceeds estimates

LONDON (Reuters) – The oil and gas industry showed resilience to a collapse in crude prices, with most producers and service companies reporting better-than-expected profits on Thursday, leaving only Exxon Mobil to disappoint.

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Oil earnings resilient despite oil price collapse

NEW YORK/WASHINGTON (Reuters) – U.S. securities regulators charged an investment firm and one of its executives in connection with a multimillion-dollar kickback scheme involving New York’s largest pension fund, the Securities and Exchange Commission said on Thursday.

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SEC charges firm in New York kickback probe

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Gabbiano Gets It Right

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Down Derby

LONDON (Reuters) – Oil retreated toward $50 a barrel on Thursday, erasing earlier gains after weak U.S. employment data and news that U.S. automaker Chrysler will file for Chapter 11 bankruptcy.

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Oil falls from session highs after U.S. data

NEW YORK (Reuters) – Stocks climbed on Thursday as better-than-expected company profits and a decline in initial jobless claims stoked optimism that the economic slump is showing signs of abating.

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Wall Street rises on corporate profits, economic optimism