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National City Raising $7 Billion After Housing Losses

National City Corp. said it will raise $7 billion in capital on Monday, following the lead of other major lenders, after reporting a first quarter miss due primarily to provisions for future losses in the falling housing market.

Why Gold is a religion for many people

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By Jon NadlerA mild recovery in prices on the back of $117+ oil and a once again declining dollar overnight helped bring gold back to the $920 area after last Friday's rout.
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'Gold will undo this week's handsome gains'

By Jon Nadler Weighed down by a retreat in crude oil and the dollars ascent to 72 on the index, gold prices took a nearly 2% tumble in the early morning prior to the New York opening.Yeste...
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Gold run dollar gyrations crude oil price tick

By Jon Nadler After scaling up to $953.90 on the back of a new record of $115.50 in crude oil, gold prices turned back to the low $940's as the US dollar climbed to near 71.70 on the index....
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Bank Profits Fall but Surpass Expectations

A pair of the largest U.S. banks reported that profits in the first quarter fell due to the housing downturn but they still managed to beat Wall Street analysts' expectations sending shares higher.
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JPMorgan Beats Forecasts as Shares Rise

JPMorgan Chase & Co., the third largest U.S. bank beat expectations on Wednesday, despite reporting a 50 percent drop in first quarter profit as it wrote down $5.1 billion in assets linked to mortgages and other loans.
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Why Crude Oil is on fire

By Jon Nadler Gold prices took off for higher ground overnight as the divergent oil and dollar fueled additional speculative interest in the metal.There is still somewhat of a disconnect i...
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Goldman lower Alibaba's target price to 15 HK dollars

Goldman Sachs lowered Alibaba's price target from 18 Yuan to 15 Yuan, or 16 percent, and lower the company's target price earnings ratio of 2009 from 33 times to 30 times, but maintained the stocks neutral rating.
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Merrill Expected to Post Billions in Write downs: Analysts

Merrill Lynch, Inc, is expected to report a loss for the first quarter of the year on Thursday, and is also expected to write down several billion dollars' worth of securities linked to the falling housing market, along with markdowns related to mono-line bond insurer and leveraged buyouts.
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WaMu Reports $1.14 Bln 1Q Loss

Washington Mutual Inc. reported a first-quarter loss of $1.14 billion late Tuesday, as the lender continues to suffer from the mortgage meltdown and credit crisis.
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Schwab Reports Best 1Q Results, Gains 29 Pct

Charles Schwab Corp, the discount brokerage said on Tuesday its earnings from continuing operations rose 29 percent, spurred of by a higher-than-expected number of new client sign ups.
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UBS to Cut Jobs by 10 Pct: Reports

UBS, the Swiss bank which has taken heavy losses due to the downturn in housing and credit markets, may eliminate about 10 percent of its workforce, according to reports.
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JPMorgan Profit Expected to Drop by More Than Half

J.P. Morgan Chase & Co. is expected to report that its first quarter profit fell by more than 50 percent on Wednesday due to potential additional write-downs, and other expenses related to the tough mortgage market.
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'I am Bullish on All the Metals'

Greg McCoach is an entrepreneur who has successfully started and run several businesses the past 22 years. For the last eight of these years he has been involved with the precious metals industry as ...
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Wachovia Loss Means Double-Whammy for Investors

Wachovia Corp. investors were hit with a double-whammy on Monday, after the fourth largest U.S. bank reported an unexpected loss for the quarter, cut their dividends, and announced a plan to sell diluted stock.
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Deutsche Bank to sell Debt below $20 Billion

Deutsche Bank is looking to sell a debt of loans of leveraged buyouts to investors and private equity firms, for much less than the $20 billion dollars previously announced, Reuters reported.

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