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Saturday, July 4, 2009 12:02 AM PDT

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Today's Business News: Job seekers seek solace with fellow faithful Venezuela assumes control of Spanish-owned bank MOUNTAIN OF DEBT: Rising debt may be next crisis Communities bug out over cuts to mosquito control Airline BA to cut capacity, delay new planes Bleak payrolls report mauls Wall St; volume thin Meltdown 101: Unemployment by the Numbers DemandTec posts wider 1Q loss Analysis: Russia plays checkbook diplomacy Fannie, Freddie ease terms for mortgage refinance Web retailers, states tussle over tax rules The Bleak U.S. Jobs Picture Key Nabucco gas pipeline deal to be signed July 13 AIG to sell consumer finance unit in Colombia U.S. home prices seen down over 40 percent: Barclays Business Courses for Go-Getters Portfolio Planning: A Case Study Job seekers seek solace with fellow faithful Fri, 3 Jul 2009 12:11 pm PDT AP - Her fellow job seekers offer knowing groans as Diane Castro recalls the day she was laid off: The fear of being summoned to the front office. The phones in nearby cubicles going off like grenades. Finally, a ring at her desk. Full Story Top Venezuela assumes control of Spanish-owned bank Fri, 3 Jul 2009 09:22 pm PDT AP - President Hugo Chavez's government assumed control of Venezuela's third-largest bank on Friday — making the state the largest player in the nation's banking system. Full Story Top MOUNTAIN OF DEBT: Rising debt may be next crisis Fri, 3 Jul 2009 09:36 pm PDT AP - The Founding Fathers left one legacy not celebrated on Independence Day but which affects us all. It's the national debt. Full Story Top Communities bug out over cuts to mosquito control Fri, 3 Jul 2009 03:09 pm PDT AP - Millions of mosquito eggs laid across southern Texas after Hurricane Ike hit the coast last summer are waiting for the little bit of rain and hot summer days they need to hatch. That's got the man whose job it is to fight the bugs worried — he's already running out of money. Full Story Top Airline BA to cut capacity, delay new planes Fri, 3 Jul 2009 12:09 pm PDT AP - British Airways PLC announced Friday it will ground aircraft, slash seat numbers and postpone taking delivery of a dozen new Airbus A380 superjumbos as it faces a recession-driven decline in passengers. Full Story Top Bleak payrolls report mauls Wall St; volume thin Thu, 2 Jul 2009 02:47 pm PDT Reuters - Stocks tumbled on Thursday, driving the S&P 500 down to its third-straight weekly loss, as a steeper-than-expected slide in June non-farm payrolls revived caution about economic recovery prospects. Full Story Top Meltdown 101: Unemployment by the Numbers Thu, 2 Jul 2009 02:36 pm PDT AP - How bad is the current recession? Here's one measure: the United States now has fewer jobs than it did nine years ago, even though the work force — the number of people either working or looking for work — has grown by 12.5 million people since then. Full Story Top DemandTec posts wider 1Q loss Wed, 1 Jul 2009 03:16 pm PDT AP - Price-management software company DemandTec Inc. posted a wider net loss Wednesday for its fiscal first quarter, hurt by charges and higher costs even as revenue inched higher. Full Story Top Analysis: Russia plays checkbook diplomacy Fri, 3 Jul 2009 03:49 am PDT AP - Russia is using its energy wealth to shore up influence abroad, pouring billions of dollars in loans and grants into former Soviet states and long-standing allies — even as it faces its own severe economic downturn. Full Story Top Fannie, Freddie ease terms for mortgage refinance Wed, 1 Jul 2009 02:57 pm PDT Reuters - The Obama administration on Wednesday expanded its foreclosure prevention efforts to help a greater number of underwater homeowners refinance their mortgages. Full Story Top Web retailers, states tussle over tax rules Thu, 2 Jul 2009 06:07 pm PDT AP - In a big break for online shoppers, Web retailers generally don't have to charge sales taxes in states where they lack a store or some other physical presence. Full Story Top The Bleak U.S. Jobs Picture Fri, 3 Jul 2009 05:08 am PDT BusinessWeek Online - U.S. job losses in June rose to 467,000 as the national unemployment rate rose to 9.5%. This follows a decade where job creation in the private sector hovered in the 1% range. In our feature segment, Chief Economist Michael Mandel explains why job growth has stalled, its importance, and what can be done to reverse this trend. Plus, the latest on the troubled housing market and Wal-Mart's (wmt.) unusual alliance with a labor union. Full Story Top Key Nabucco gas pipeline deal to be signed July 13 Fri, 3 Jul 2009 12:30 pm PDT AFP - EU nations and Turkey said Friday they will sign a key intergovernmental agreement in Ankara on July 13 on Europe's flagship Nabucco gas pipeline project, but key issues still need to be resolved. Full Story Top AIG to sell consumer finance unit in Colombia Wed, 1 Jul 2009 02:10 pm PDT AP - American International Group Inc. on Wednesday said it agreed to sell all of its ownership interests in its consumer finance operations in Colombia, the latest in a recent string of asset sales by the embattled insurer to bolster its finances. Full Story Top U.S. home prices seen down over 40 percent: Barclays Thu, 2 Jul 2009 12:56 pm PDT Reuters - U.S. housing prices will fall by a double-digit percentage from already beaten-down levels, resulting in an overall 40 percent plunge by the time foreclosures peak in the second half of 2010, Barclays Capital economist Michelle Meyer said. Full Story Top Business Courses for Go-Getters Fri, 3 Jul 2009 05:08 am PDT BusinessWeek Online - In today's competitive job market, graduates fresh out of college are looking to stand out. The earlier they start to give themselves an edge, the better off they will be, which is why more undergraduate business courses are starting to address softer skills -- from improving communication to learning how to effectively use your creativity. Unique, hands-on courses that are part self-reflection, part theory, and part applied learning are best because they engage students and leave a lasting impression, say educators. Full Story Top Portfolio Planning: A Case Study Fri, 3 Jul 2009 05:08 am PDT BusinessWeek Online - The market meltdown unmoored many a financial plan. With the portfolios of countless baby boomers a shadow of what they once were, BusinessWeek asked five top investment advisers to draft a plan that would enable a hypothetical couple to meet all of their financial obligations. Full Story Top

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