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Prolonged recession looms
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LONDON (Reuters) - Global economic misery spread on Thursday with the Federal Reserve predicting U.S. recession well into 2009, Japan's exports to Asia falling for the first time in six years and another sharp sell-off on global equity markets. |
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Global stocks hit 5-1/2 year lows
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HONG KONG (Reuters) - A 6 percent fall in Asia pushed world stocks to their lowest in 5- years on Thursday, while oil fell below $53 and safe havens such as the yen gained on fears the global recession and a financial crisis will get uglier. |
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Prospect for auto bailout dims
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WASHINGTON (Reuters) - Chances dimmed that a last-minute plan being crafted by Republican senators, with White House support, to provide $25 billion to bail out U.S. automakers would receive enough backing from Democrats to pass before the end of this week. |
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