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AUTO INDUSTRY
Ford surprises with third quarter net profits of 997 million dollars
Ford posted net profits of 997 million dollars for the third quarter of 2009. It's the automakers’ first quarterly profit since 2008 and is largely due to a drastic cost-cutting policy. The US firm said it was on track to become "solidly profitable."
USA
Leading lender CIT files for bankruptcy despite government bailout
The CIT Group, one of the largest small-business lenders in the United States, filed for bankruptcy on Sunday to mark the fifth-largest corporate bankruptcy in the United States and the first firm to do so after receiving government bailout funds.
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USA
Atlanta's Georgian Bank becomes USA's latest bank failure
Atlanta's Georgian Bank became the eighth biggest bank failure of 2009, according to the Federal Deposit Insurance Company (FDIC). Ninety-five banking American institutions have shut this year, feeling the effects of the economic crisis.
USA
Record plunge in consumer credit
US consumer credit posted a record plunge in July, the sixth month of decline, and fell at an annualized rate of 10.4 percent, according to the Federal Reserve. But a lack of spending risk further damaging an economy significantly driven by output.
BANKING
Spain's BBVA buys troubled Texan Guaranty Bank
Spain's second largest bank, BBVA has acquired the troubled Texas-based Guaranty Bank for an undisclosed sum, and will operate in seven southern US states BBVA, which owns four other US banks, focuses on America's Spanish-speaking minority.
RETAIL
Adidas profit crashes 93 percent in Q2
German sport equipment Adidas registered a 93 percent drop in second quarter profit to 9 million euros, with net profit down to 13 million euros for the first half of 2009. The results highlight a retail downturn associated with the global crisis.
UNITED STATES
Hope for better days in real estate
The real estate business in the United States is starting to show some good signs. With owners accepting to sell their properties at lower prices, deals are becoming more frequent.
USA
Senate passes bill on credit card reform
The US Senate has adopted a new law aimed at protecting the public against predatory credit card schemes. The bill seeks to shield consumers from misleading small print in card contracts, to set credit limits and to fairly allocate payments.
SPORT
Adidas profit crashes in a first-quarter fall of 97 percent
German sport equipment Adidas registered a 97 percent drop in net profit in the first quarter. Adidas also announced a major restructuring of its operations, including the elimination of regional headquarters in Europe and Asia.
USA
Report says private sector shed 742,000 jobs in March
742,000 jobs were lost in the US private sector in March, according to payrolls firm ADP. The figure was worse than expected and comes two days before the publication of official government figures.
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