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Business News

Bleak payrolls report mauls Wall St; volume thin (Reuters)

Traders work on the floor of the New York Stock Exchange May 19, 2009. REUTERS/Shannon StapletonReuters - 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.


U.S. job losses spike in June, dampen recovery hopes (Reuters)

A man looks at a job board at a job fair in Toronto, April 1, 2009. REUTERS/Mark BlinchReuters - U.S. employers cut far more jobs than expected last month and the unemployment rate hit 9.5 percent, the highest in nearly 26 years, underscoring the likelihood of a long, slow recovery from recession.


J&J buys $1 billion Elan stake, gains Alzheimer's R&D (Reuters)

A first aid kit made by Johnson & Johnson for sale on a store shelf in Westminster, Colorado April 14, 2009. REUTERS/Rick WilkingReuters - Johnson & Johnson has agreed to pay $1 billion for an 18.4 percent stake in Irish drugmaker Elan Corp , and will acquire a major stake in Elan's portfolio of experimental drugs to treat Alzheimer's disease.


Earnings to set tone for stocks in week ahead (Reuters)

A trader works the floor of the New York Stock Exchange June 23, 2009. REUTERS/Eric ThayerReuters - With Wall Street stuck in a range since May, the start of second-quarter earnings season next week could prove to be a decisive factor for determining how much faith investors should have in an economic recovery.


Fate of GM in hands of bankruptcy judge (Reuters)

Fritz Henderson, Chief Executive Officer of General Motors Corp, enters the U.S. Bankruptcy Court in New York July 1, 2009. REUTERS/Brendan McDermidReuters - A federal bankruptcy judge will decide the immediate fate of General Motors Corp's effort to quickly sell its best assets to a group funded by the U.S. government, after a three-day court hearing concluded on Thursday.