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Lowe's profit tops view

Lowe's Cos Inc posted better-than-expected quarterly profit on Monday as it saw some strength in outdoor projects like gardens and lawns in the spring, even as consumers still shunned big home renovations.
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U.S. foreclosures jump to record high

U.S. foreclosure activity in April jumped 32 percent from a year ago to a record high, and should mount because temporary freezes on foreclosures ended in March, RealtyTrac said on Wednesday.
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Miami Area

Miami is one of the nation’s most well-rounded metropolitan destinations due to its arts scene, shopping, family attractions, and hotspot Miami Beach.
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Greenspan sees

Former Federal Reserve Chairman Alan Greenspan said on Tuesday that
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Natural Gas Weekly Update -May 7

Natural gas spot prices rose this week at almost every market location, with increases generally ranging between 10 and 30 cents per million Btu (MMBtu).
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More than one in five homeowners underwater: Zillow

Home values in the United States extended their fall in the first quarter, with more than one in five homeowners now owing more on their mortgages than their homes are worth, real estate website Zillow.com said on Wednesday.
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Wall Street to open higher after encouraging data

Wall Street was poised for a higher open on Wednesday as encouraging signs about the job market offset renewed concern about the health of banks after a source told Reuters stress tests show Bank of America has a $34 billion capital shortfall.
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Almost 3 in 10 U.S. homeowners underwater in Q1: Zillow

Home values in the United States extended their fall in the first quarter, with almost three in ten homeowners now owing more on their mortgages than their homes are worth, real estate website Zillow.com said on Wednesday.
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CORRECTED: More than one in five homeowners underwater: Zillow

Zillow issued a correction to its report, and following that this corrects headline and 1st paragraph to say more than one in five homeowners, not almost 3 in 10 homeowners. Corrects paragraph 4 to declining home values left 21.9 percent, not 28.9 percent
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Chrysler bankruptcy has dealers on razor's edge

Chrysler's car dealership network is on the verge of collapse, a U.S. bankruptcy court heard on Monday, as hundreds of dealerships have closed their doors this year and uncertainty about the company's future is driving consumers away.
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How Banks Become Condo Rental Agents

Last month in a Boston foreclosure sale, John Hancock Tower Lenders Took, a 65% Haircut In 3 Years . Boston is back in the news today with another foreclosure auction. This time it's condo related, with Chorus Bank in the thick of things.
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Small businesses dig in heels as recession bites

Vanessa Baug knows as well as anyone how the recession has ushered in a new era of frugality for Americans. Sales at her once-thriving jewelry store have plummeted. Some days she sells nothing.
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Economists' Commentary:Jumbo Loans

In recent months the availability of jumbo loans has decreased while the interest rate spread between jumbo rates and ten-year treasuries has widened. These developments are having a negative effect on the housing market.
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UBS asks U.S. court to drop tax evasion case

UBS AG asked a U.S. court on Thursday not to proceed with a high-profile tax evasion case brought against it by the U.S. Internal Revenue Service, saying the case would violate Switzerland's strict bank secrecy laws.
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Office Depot posts surprise profit on cost cuts

Office Depot Inc posted better-than-expected first-quarter results on Tuesday as cost cuts offset a sharp decline in sales, and the No. 2 U.S. office supplies retailer's shares jumped more than 23 percent.
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Office Depot posts loss

Office Depot Inc reported a quarterly loss on Tuesday as consumers and small business customers reduced their spending on large ticket items like furniture and computers.
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IRS says set to pursue other banks on tax evasion

The U.S. Internal Revenue Service is preparing to pursue other foreign banks for allegedly facilitating tax evasion by wealthy Americans following its high-profile case against Switzerland's UBS AG , an IRS official said on Monday.

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