CARACAS, Venezuela—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.
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NEW YORK—That old saying "cash is king" certainly rings true these days. Investors can't seem to get enough of it, which ultimately could be bad news for the stock market and the economy.
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MINNEAPOLIS—Malt-O-Meal Co. is voluntarily recalling oatmeal that contains instant nonfat dry milk that may be contaminated with salmonella.
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LAS VEGAS—Tropicana Las Vegas has emerged from Chapter 11 bankruptcy with new owners. Toronto-based Onex Corporation and former MGM Mirage President Alex Yemenidjian acquired a majority stake in the Las Vegas hotel-casino this week, as it completed its yearlong bankruptcy process.
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DENVER—Casket makers catering to natural burials have offered biodegradable coffins made of such materials as recycled newspapers or cardboard.
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COLUMBUS, Ind.—Cummins Inc. is recalling 400 laid-off workers as it resumes production at a Columbus factory, while nearly 300 people lost their jobs as an auto parts company idled a plant in nearby Shelbyville.
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TORONTO—Canada's finance minister said Friday that the country's economic recovery will likely be modest and job losses will mount into 2010 even after growth has begun.
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BEVERLY, Mass.—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.
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LONDON—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.
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