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Business News

Foreclosure rates up by smallest amount in 4 years (AP)

A pre-foreclosure sign is displayed outside a home in Miami, Florida in 2009. The US home mortage sector remains under siege -- as recent huge losses reported by government-run Fannie Mae and Freddie Mac show -- from high unemployment and troubled loans.(AFP/Getty Images/File/Joe Raedle)AP - The foreclosure crisis isn't over, but the pace of growth may finally be slowing down.


2-second video causes headache for ABC News (AP)

FILE - In this Jan. 26, 2010 photo, a 2010 Toyota Corolla is shown at Toyota  dealership in San Francisco. For the want of a better two-second picture of a tachometer, ABC News has called into question its reporting on acceleration problems with Toyota vehicles. (AP Photo/Jeff Chiu, File)AP - For the want of a better two-second picture of a tachometer, ABC News has called into question its reporting on acceleration problems with Toyota vehicles.


Watchdog: GMAC bailout could cost taxpayers $6.3B (AP)

A Chevrolet Volt extended-range electric vehicle sits at an event in Michigan in 2009. GMAC, the troubled former finance arm of General Motors, has been AP - The Treasury Department sank billions into auto finance giant GMAC Inc. without an exit strategy or proof the company was viable — a decision that could cost taxpayers $6.3 billion, a new watchdog report says.


China's inflation accelerates in February (AP)

This picture taken Wednesday Feb. 10, 2010 shows a Chinese selects fruits at a department store in Beijing, China.  China's inflation spiked higher in February, adding to pressure on Beijing to prevent overheating and keep the recovery in the world's third-largest economy on track. (AP Photo/Vincent Thian)AP - China's inflation spiked higher in February, adding to pressure on Beijing to prevent overheating and keep the recovery in the world's third-largest economy on track.


Senate passes $149 billion for jobless aid (Reuters) Reuters - The Senate on Wednesday passed a $149 billion package of jobless aid and tax breaks, as Democrats continued efforts to lower the 9.7 percent unemployment rate before congressional elections in November.