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Top Financial News
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World stocks flat but pound takes another hit (AP)
World stock markets traded in a narrow range Wednesday as investors looked for renewed direction, while the British pound continued to founder following unimpressive industrial output figures.
Runaway Prius driver: Brakes were ‘almost burned’ (AP)
Before he called 911, James Sikes says he reached down with his hand to loosen the “stuck” accelerator on his 2008 Toyota Prius, his other hand on the steering wheel. The pedal didn’t move.
Oil drifts near $81 amid mixed US inventory data (AP)
Oil prices drifted down to near $81 a barrel Wednesday in Asia after a report showed mixed evidence about U.S. crude demand.
Soaring China home prices thwart ordinary buyers (AP)
The luxury apartment buildings Yang Xuhua passes on her way to work are a daily reminder of her own frustrated efforts to buy a home. Prices for even modest apartments in Shanghai have soared, putting home purchases out of reach for white collar workers and professionals.
Curbing derivatives might hurt, not help, Greece (AP)
Derivatives have become a dirty word. The complex financial products helped blow up the U.S. housing market. They all but sank AIG. Now European officials want to crack down on a derivative called a credit default swap.
Bank of America ends overdraft fees on debit cards (AP)
Bank of America customers will soon be unable to spend more than they have in the accounts linked to their debit cards. It’s a step that may become a common move ahead of new regulations limiting overdraft fees.
Job openings up sharply in January to 2.7M (AP)
Job openings rose sharply earlier this year, evidence that employers are slowly ramping up hiring as the economy improves.
Chevron to shed 2,000 jobs, sell some assets (AP)
Chevron Corp. said Tuesday it will cut 2,000 jobs this year and sell some overseas operations as it revamps its struggling refinery, marketing and transportation operations.