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Applied Materials to slash 1,500 jobs

Wed, 11 Nov 2009 18:56:20 EST

Applied Materials, Inc. announced Wednesday it will cut between 1,300 and 1,500 employees, or 10% and 12% of its global workforce, over the next 18 months as part of its restructuring plan.

HP to buy 3Com for $2.7 billion

Wed, 11 Nov 2009 17:37:17 EST

Hewlett-Packard Co. announced Wednesday it will purchase networking company 3Com for $2.7 billion, and also preannounced higher fiscal fourth-quarter earnings and raised its outlook for fiscal 2010.

Wal-Mart plans Black Friday all-nighter

Wed, 11 Nov 2009 18:40:37 EST

In preparation for the traditional kickoff of the holiday shopping season, Wal-Mart Stores Inc. announced Wednesday that most of its stores will be open 24 hours for "post-Thanksgiving Day events."

Americans are overpaid

Wed, 11 Nov 2009 15:17:37 EST

Read full story for latest details.

Oil gains slightly on weak dollar

Wed, 11 Nov 2009 13:34:31 EST

Oil rose modestly Wednesday, responding to a 15-month low in the dollar and robust Chinese demand growth and factory output.

Stuffing planes like Thanksgiving turkeys

Wed, 11 Nov 2009 13:05:31 EST

Thanksgiving air travelers can expect crowded planes as a result of the most dramatic capacity cuts since World War II, according to the industry's trade group.

10 states face financial peril

Wed, 11 Nov 2009 15:42:34 EST

The same economic pressures that pushed California to the brink of insolvency are wreaking havoc on other states, a new report has found.

New ETF is a way into smaller China

Wed, 11 Nov 2009 12:29:59 EST

If Burton Malkiel, author of the famous "A Random Walk Down Wall Street" and Princeton University economist, is right, the majority of U.S. investors aren't profiting enough from China's rapid growth.

AIG CEO: What about Bob?

Wed, 11 Nov 2009 12:24:05 EST

It's not easy to feel sympathy for politicians and regulators in Washington and overpaid corporate board members. But hot-tempered AIG chief executive officer Robert Benmosche is doing his best to make them look good.

Target's Black Friday bet: $3 appliances

Wed, 11 Nov 2009 14:19:49 EST

Target is hoping to lure this year's Black Friday shoppers with $3 toasters and coffeemakers, deep deals on high-definition televisions, and discounts of 50% on clothes and toys, according to a Web site that says it has received a leaked copy of the retailer's circular.

Subsidizing inner peace

Wed, 11 Nov 2009 11:19:00 EST

Fashion isn't an industry typically known for its commitment to selflessness (or, for that matter, sitting quietly). But for more than 20 years, Jacalyn Bennett has been building a booming lingerie business on the unlikely principles of spirituality, benevolence and meditation.

Dollar firms near 15-month low

Wed, 11 Nov 2009 14:09:41 EST

The dollar recovered some ground against rival currencies Wednesday after falling to a 15-month low on strong economic data from China and signs that U.S. interest rates will remain low.

On tackling debt: Some say 'Just do it'

Wed, 11 Nov 2009 11:48:57 EST

Left to their own devices, lawmakers won't successfully deal with the country's spiraling debt situation. That's the opinion of some key members agitating for a special commission to force the hand of Congress.

Making Detroit a tech hub - One CEO's vision

Wed, 11 Nov 2009 10:20:42 EST

It is noon in downtown Detroit, a glorious autumn day in the nexus of the city's business district. A large crowd of people stride up the street toward a sleek, glass-walled tower in the Campus Martius complex.

A mogul's Detroit passion gets messy

Wed, 11 Nov 2009 14:16:07 EST

While Detroit booster Dan Gilbert has a passion for the city, where he wants to move 1,700 jobs, it's a romance that's getting complicated.

Triple the salary - thanks to nukes

Wed, 11 Nov 2009 10:03:17 EST

Minimum wage to $20 an hour.

Gold surges to a record high

Wed, 11 Nov 2009 14:57:29 EST

Gold jumped to an all-time high Wednesday as the dollar depreciated, fueling demand for the metal as a hedge against the anemic greenback.

Dow hits another 13-month high

Wed, 11 Nov 2009 17:55:13 EST

Stocks ended higher Wednesday, with the Dow industrials finishing at a 13-month high for third straight day, after investor optimism rose on the expectation that interest rates would remain low for some time.

China's record debt has economists worried

Wed, 11 Nov 2009 12:21:54 EST

In a world still awash in economic worry, China has stood apart as the one country that has come through the global slump with only the briefest of hiccups.

AIG chief 'frustrated' but staying on

Wed, 11 Nov 2009 21:01:53 EST

AIG Chief Executive Robert Benmosche told his staff on Wednesday that he is "frustrated" with ongoing discussions with the government about bonuses, but he will remain with the company.