Finance, Investments, Insurance
- Probing pay
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SOURCES: AP research; Thomson Reuters Vinnee Tong, E. Gramling • AP
Updated: 10/15/08 6:33 AM
- The Financial crisis has sent executive compensation to the top of legislators’ agendas, with presidential candidates Barack Obama and John McCain agreeing that shareholders could use a bigger megaphone.
- Ad spending to sag
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Updated: 10/15/08 6:33 AM
- Companies that rely on advertising revenue may be in for a tough year, as the economy is mired in a financial crisis.
- Synacor scraps stock sale
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Updated: 10/15/08 6:33 AM
- Synacor Inc. is pulling the plug on its stalled attempt to sell stock to the public.
- More local travelers climbing aboard Amtrak
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By Sharon Linstedt
NEWS BUSINESS REPORTER
Updated: 10/15/08 6:33 AM
- Amtrak is enjoying a ridership boom across Western and Central New York, with a nearly 23 percent jump in passengers heeding the “All Aboard” call.
- Markets turn calm as Dow drops 76
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ASSOCIATED PRESS
Updated: 10/15/08 6:33 AM
- NEW YORK — Wall Street ended a relatively calm session with a moderate loss Tuesday as investors, while happy with the government’s plans to spend up to $250 billion to buy stock in private banks, decided to cash in profits from the previous day’s massive advance as they refocused their attention on the economy.
- Local bankers are wary of bailout
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By Jonathan D. Epstein NEWS BUSINESS REPORTER
Updated: 10/15/08 7:11 AM
- The banking industry nationwide applauded the latest steps by the Bush administration to address the credit crisis Tuesday.
- Delaware North upbeat after meeting with casino foe
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By Tom Precious
- NEWS ALBANY BUREAU
Updated: 10/15/08 6:33 AM
- ALBANY — Delaware North executives met in Buffalo Tuesday with the sole state official blocking their effort to win the rights to develop a sprawling new casino at a downstate racetrack.
- IRS fixes stimulus glitch
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Updated: 10/15/08 6:32 AM
- ST. LOUIS (AP) — Overdue economic stimulus checks will soon be mailed to about a quarter of a million married couples who had been denied the money because of an IRS glitch.
- In other business news . . .
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Updated: 10/15/08 6:32 AM
- • United Auto Workers President Ron Gettelfinger said Tuesday he would oppose a merger between General Motors Corp. and Chrysler LLC because it would cost workers their jobs.
- Dollar flip pinches overseas funds
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Sources: Standard & Poor’s Equity Research, MSCI Barra, Morningstar
Updated: 10/14/08 6:35 AM
- International mutual funds have slumped along with global stock markets, and a stronger dollar has also crimped their benefits.
- Down on dirt
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Sources: Thomson Reuters, USDA
Updated: 10/14/08 6:35 AM
- Demand for crops usually remains steady during economic downturns, based on historic data, writes CIBC World Markets Corp. analyst Jacob Bout in a report. But that hasn’t helped stocks of fertilizer makers recently.
- Restaurants may have to change menus, hike prices in 2009
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By Lauren Shepard
- ASSOCIATED PRESS
Updated: 10/14/08 6:35 AM
- NEW YORK — Beef may not be what’s for dinner at your favorite restaurant come 2009.
- Morgan Stanley gets infusion of $9 billion
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By Joe Bal Bruno and Stephen Bernard
- ASSOCIATED PRESS
Updated: 10/14/08 6:35 AM
- NEW YORK — Morgan Stanley averted disaster with a $9 billion lifeline from a major Japanese bank, and on Monday declared it will use that money to pick off smaller rivals.
- Taylor Devices’ profits fall in first quarter
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By Matt Glynn
NEWS BUSINESS REPORTER
Updated: 10/14/08 6:35 AM
- Taylor Devices’ fiscal first quarter profits fell 57 percent from a year ago, but the North Tonawanda-based company still expects to finish the year in the black.
- Manic Monday on Wall Street as the Dow roars back to life
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By Tim Paradis
- ASSOCIATED PRESS
Updated: 10/14/08 7:04 AM
- NEW YORK — Wall Street stormed back after its worst week ever and staged the biggest single-day stock rally since the Great Depression on Monday, catapulting the Dow Jones industrials to a 936-point gain and finally offering relief from eight consecutive days of stock market carnage.
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