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Judge rules BofA suit over Bear loss can proceed

A federal judge said Bank of America Corp may pursue a lawsuit accusing former Bear Stearns Cos managers Ralph Cioffi and Matthew Tannin of lying in an attempt to prop up two failing hedge funds.

Personal spending surges, jobless claims rise

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U.S. consumer spending rose at its fastest pace in nearly 8 years in August, but the number of workers filing new claims for jobless benefits rose last week, indicating a weak labor market would weigh on recovery.
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New York's economy seen lagging U.S. recovery

New York and New Jersey's economies will likely lag the United States' recovery from its deep recession, due to the importance of the hard-hit financial services sector for the region, economists at the New York Federal Reserve wrote in a report released on Monday.
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NYC pleads for Federal funds to fight terrorism

New York City Mayor Michael Bloomberg, along with other leaders representing the region say additional federal funds are needed to improve the city's security against nuclear devices and “dirty” bombs.
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Bank of America rejects SEC claims in bonus suit

Bank of America Corp formally denied U.S. Securities and Exchange Commission claims accusing it of misleading shareholders about bonuses it let Merrill Lynch & Co pay employees before the companies' January 1merger, and said it is seeking an order dismissing the regulator's complaint.
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Bank of America urges dismissal of SEC complaint

Bank of America Corp urged a federal judge to dismiss the U.S. Securities and Exchange Commission's complaint accusing it of misleading shareholders about bonuses it let Merrill Lynch & Co pay employees before the companies' January 1 merger.
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Emmy-winning actor to lead Hollywood union

Character actor Ken Howard was elected president of the Screen Actors Guild on Thursday, the union said, four days after he won an Emmy for the HBO TV movie Grey Gardens.
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U.S. home foreclosure mediation in jeopardy: report

A slew of state and local home foreclosure mediation programs have enormous potential to help homeowners, but most suffer from lack of industry accountability, according to a study released on Wednesday.
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Wall Street advances on Fed's optimistic view

U.S. stocks rose on Wednesday as the Federal Reserve said economic activity has picked up following a severe downturn, an assessment that suggested the outlook for corporate profits was brightening.
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Best U.S. companies for working mothers named

Working Mother magazine on Tuesday named the best U.S. companies for working mothers, citing those that have kept or expanded family-friendly programs and policies amid the pressures of recession.
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GE CEO to test new management model in India

General Electric Co plans to test a new management model in India that the largest U.S. conglomerate believes will help it flourish through a long period of sluggish post-recession growth in developed markets.
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Obama pushes economic message ahead of big summits

President Barack Obama's multitasking abilities will be tested this week as he juggles war, diplomacy and finance on a high-profile world stage along with the American public's top concern: the U.S. economy.
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BofA to add DuPont's Holliday to board: report

DuPont Co Chairman Charles Holliday will likely be added to Bank of America Corp's board of directors at a meeting on Monday, the Wall Street Journal said, citing a person familiar with the situation.
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Obama asks New York governor not to run: report

President Obama has asked New York Governor David Paterson to withdraw from the state's 2010 governor's race for fear that the embattled fellow Democrat cannot regroup from a series of political setbacks, The New York Times reported on Sunday.
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NY judge blocks higher fees for tobacco dealers

New York's fee increases for cigarette-selling shops were temporarily blocked by a state judge, a retail association said on Friday, leaving the current $100-a-year charge in effect for now.
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Technology in starring role at NY Fashion Week

The Internet and advances in technology are transforming fashion, making it easier for designers to create collections and less expensive for the them to show and sell their work, experts say.

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