Sterling Airways to file for bankruptcy (AP)
AP - Icelandic-owned budget carrier Sterling Airways A/S said it will file for bankruptcy Wednesday because of the financial meltdown.
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Comments Off Wall Street scores 2nd-best day ever on rate-cut hopes (Reuters)
Reuters - Wall Street marked its second-best day ever on Tuesday as investors, convinced that central banks worldwide will cut rates even more, scooped up stocks that had been driven down to their lowest prices in more than five years.
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Comments Off Wall Street surges on bargain hunting, rate hopes (Reuters)
Reuters - Stocks rose more than 10 percent on Tuesday, the second-biggest point gain ever for the Dow and S&P, after investors scooped up beaten-down shares on optimism that the U.S. Federal Reserve and other central banks will cut interest rates further.
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Comments Off IMF likely to need more money for its bailout fund (AP)
AP - With Iceland, Pakistan, Hungary and Ukraine already clamoring for mountains of cash aid, the $250 billion set aside by the International Monetary Fund to help struggling nations through the economic crisis is beginning to look puny.
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Comments Off Wall Street rallies further on rate-cut hopes (Reuters)
Reuters - Stocks rallied sharply on Tuesday as investors scooped up recently beaten-down shares, while sentiment grew that the U.S. Federal Reserve will cut interest rates.
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