COMPANIES

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Sell-off wipes $2.5 trillion off world stocks this week

More than $2.5 trillion have been wiped off the value of world stocks this week on mounting concerns the global economy is heading toward another recession and Italy and Spain are being engulfed by the euro zone sovereign debt crisis.

How stocks react to the macroeconomy

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Mohamed El-Erian has the best explanation of what happened in the markets yesterday. First and foremost, there were ?technical factors?. This doesn?t mean lines on charts and head-and-shoulders patterns and similar astrological nonsense, but rather the dynamics of where investors? money was being held and the amount that the market would fall given a modest downward nudge. Sometimes that number is tiny, but it can fluctuate a lot, and yesterday it just happened to be huge.

Magna profit drops more than expected, shares sink

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Magna International (MG.TO) (MG.TO) (MGA.N), one of the world's biggest auto-parts makers, said on Friday quarterly profit dropped on a weak performance in Europe and it cut its profit margin outlook, sending the shares tumbling.
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Traders work on the floor of the New York Stock Exchange

Economy, Euro Zone Crisis Batter Stocks

World stocks sank for an eighth straight session of losses on Friday, with investors racked by worries about the slowing global economy and the dangerous spread of euro zone debt anguish into Italy and Spain.
A board at the New York Stock Exchange shows the final trading numbers for the day

Insight: Wall Street Slide Sends Waves Across Economy

A scary drop in stocks and commodities threatens to squeeze life out of an already faltering U.S. economy, with deal-making, investment in plants and equipment, and capital raising at risk of slowing down or freezing up.
Traders work in the crude oil and natural gas options pit on the floor of the New York Mercantile Exchange in New York

Analysis: Some ask "what oil glut" as Midwest stocks dip

The latest U.S. oil inventory data contradicts a widely held notion among oil traders that a huge glut of Canadian and U.S. shale crude oil is accumulating in the middle of the United States and causing the record gap in global oil benchmark prices.
Tapped Out?

Oil dives on risk retreat, year's gains erased

Oil tumbled as much as 6 percent on Thursday, with U.S. crude crashing through technical support to its lowest since February as mounting fears of a stalled economy set off a global race from riskier assets.
Gold

Gold bounces as Asian stocks dive; premiums steady

Gold edged up more than half a percent on Friday as investors used bullion to shelter from the storm engulfing financial markets on concerns that the United States may be facing another recession and Europe's debt crisis is spreading to some of its largest economies.
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Boeing picks Atlas 5 rocket for space taxis

Boeing Co (BA.N) announced plans to launch its seven-seat spaceship on a test run to the International Space Station in 2015 using Atlas 5 rockets built by its United Launch Alliance venture.
A Trader works on the floor of the New York Stock Exchange

Buyers ditch usual optimism after Wall Street mauled

After the terrible rout in markets on Thursday investors spoke of holding fast and even poking around for buying opportunities, but that's hard when the market is likely facing another weak U.S. jobs report on Friday.
Cleetus Friedman, the owner of Chicago-based natural foods catering company, City Provisions, is seen in this undated handout photo.

Healthy food startups avoid recession's bite

Cleetus Friedman is convinced consumers will continue to pay a premium for healthier, locally sourced food, despite the sluggish economy that has many watching their wallets.
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Fluor profit beats estimates, shares rise

Fluor Corp (FLR.N), the largest publicly traded U.S. engineering company, posted unexpected second-quarter profit growth and said its backlog of work surged to a new record, lifting its stock by 7 percent.
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New York Takes Its Engineering Talent Crunch to The NYSE Floor

We've talked about the rise of New York as a tech hot spot, but the challenge of attracting good engineering and technical talent remains one of the region's biggest hurdles. Now Next Jump, a New York-based rewards and offers provider, is teaming with the New York Stock Exchange to host a major engineering-only recruiting event on the floor of the NYSE.
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Brazil auto market picks up again in July

Automobile production in Brazil rose 3.9 percent BRAOPM=ECI and sales increased 0.6 percent BRASLM=ECI in July from June, the national automakers' association said on Thursday.
Lion

After iPhone 5, Apple May Merge OS X and iOS

Apple has created thriving businesses with its Mac computers and the recent stable of gadgets like the iPhone and iPad, but one analysts predicts the company may merge these worlds atop a new Apple processor.
Oreos Label

Kraft Split: One Gets Cookies, Another Gets Hot Dogs

In a surprising move on Thursday, Kraft Foods decided to split its company into two different sections: one focusing on candy and one focusing on grocery foods. IBTimes takes a look at where Kraft's most famous brands will be headed.

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