June 25, 2008

Daily Bankruptcy News

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Law:

GCs Cutting Back on Outside Firms
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Award to Ex-Sonnenschein Partner Reduced
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Fired Thelen Reid Partner's Arbitration Award Upheld
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The Unknown Milberg - Naming the unidentified "conspiring former partners."
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Has a New Am Law 100 Firm Been Born With Husch Blackwell Merger?
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K&L Gates/Kennedy Covington Merger Gets Partners' Okay
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Summer Associates of the Day
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Report Says DOJ Rejected Top Job Candidates for Political Reasons
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Should Headhunters Be Paying You?
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Pace of New Law Firm Offices Is Brisk
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The Ron Kirk Rumba
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Nutraloaf: Cruel? Or Merely Unusual?
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Adventures in Lawyer Advertising: A Firm Goes for an Image Makeover
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Life After BigLaw: 'No Job, No Baby and 10 Pounds of Leftover Fat'
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U.S. Attorney's Office fights for strip club
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Lawyer of the Day: David Evan Jones
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Judges:

Federal Judge Responds to Limerick Brawl With a Bit of Poetic Justice
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Judge Who Had Sensitivity Training Is Accused Again of Rudeness
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Kozinski's authority as chief judge limited until Web site issue is resolved
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Aviation:

A warning on oil speculation from NWA's Steenland
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Delta, Northwest Pilots Reach Tentative Pact Before Merger
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Delta, Northwest CEOs say oil cost justifies merger
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Could AirTran go under?
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Don't hate the airlines - pity them
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Jet Airways Posts Second Straight Loss on Fuel Price
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Midwest, Union Talk Huge Cuts in Salary, 200 Jobs
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US Airlines: A Put on Oil?
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Downturn may compel airlines to return aircraft
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Turbulence ahead for regional airports
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Airlines crying mayday
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Aerospace soars out of Ch. 11
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Airlines' Fallout Effect - As airlines cut flights, other industries feels the pain.
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Oil/Gas:

Oil futures gain as production concerns continue
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Tekoil hopes to maintain Canadian operations
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Oil prices won't come down: OPEC president
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Municipalities:

San Diego Running Low on Assets
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Think outside the box
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Mississippi Breaches Levee, Cities Battle Floodwaters
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Jewelry:

BofA provides financing for Whitehall Jewelers
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Whitehall Jewelers sets sale
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Whitehall an example of a roll-up gone bad
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Corporate Reform:

Who Is On the Market Police's Radar?
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Plan to bar funds from commodities garners few fans
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Baltimore Mayor Admits Relationship with Developer
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Backers Expect Attorney-Client Privilege Bill to Pass
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Newspapers:

Boston Herald to lay off printing plant workers
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Elder Debt:

Avoiding Bankruptcy in Old Age
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Mining:

Asarco settles Okla. claims; earns $40M in May
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Bankruptcy Crimes:

Suspect in bankruptcy frauds arraigned
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Disbarred Attorney Arraigned in Federal Court
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Sovereign Debt:

Is it ever right for investors to make money from the debt of poor nations?
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Nonprofits:

DC Charity Files for Bankruptcy to Forestall Foreclosure
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Tourism:

Judge rules against city in Queen Mary settlement
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Competition:

In Hard Times, Some Firms 'Go for the Jugular'
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M&A:

Death knell sounded for private equity boom
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Distressed Investing:

Holders of Distressed Debt, Beware
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Tax:

Are Break-up Fees Lost Profits?
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Real Estate:

Home prices post record 15.3% drop
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Four years of gains in home prices wiped out
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The slump in US house prices has officially gone nationwide
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Housing aid bill clears key Senate hurdle
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Senate housing rescue bill clears key test vote
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Approval Is Near for Bill to Help U.S. Homeowners
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Private Mortgage Insurers Feel the Mortgage Hit
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Legal tactic delays NJ home foreclosures
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Fannie, Freddie Fail to Relieve Housing by Shunning Jumbo Loans
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Real Estate Developer Hit With Indictment
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Bay Area home prices continue steep fall
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LA home price declines accelerating
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Tampa area home prices plummet
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Rising Gas Prices Crushing Housing Recovery in Inland Empire
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Metro Detroit home prices continue downward spiral
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Two-Thirds of the Way There on Home Prices?
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Home-Builder Sector Loses More Ground On Latest Data
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Countrywide vote on B of A merger to end mortgage era
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Illinois to Sue Countrywide
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23 Senators refuse to disclose home mortgage details
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Largest Mortgages Ltd. creditor may be owed $197.2M
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Bankruptcy judge delays trustee decision on Mortgages Ltd.
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Lender's downfall puts downtown plans in limbo
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Caruso Homes files for bankruptcy protection
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Goody's Family Clothing, Inc. Appoints DJM Realty to Dispose of 69 Retail Store Leases
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Draper objects to plan by Zions to buy SunCrest
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New Jersey Property Tycoon Hits Bankruptcy, and Creditors Face Underwater Auction Bids
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Levitt & Sons can sell land
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Long Battle Ahead for Opponents of Down-Payment Assistance Programs
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Economy:

Inflation May Unleash 'Financial Tsunami'
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Whatever Happened To Inflation Targets?
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Spectre of inflation over global economy
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Orders for Durable Goods Unchanged in May
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Consumer confidence tumbles to 16-year low, more than forecast
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Americans' loss of confidence: Worse even than it looks
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Economists should listen to consumers
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Exchange Says Efforts to Curb Speculation 'Foolish'
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University forecasters say US is in recession
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House prices rise, and gasoline usage grows. What's going on?
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Autos:

GM may burn billions in cash by end of 2010
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Chrysler Taps a $2 Billion Credit Line
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Chrysler borrows $2B, despite having money
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A GM-Ford Combo?
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Ford's Volvo Car unit says to cut 2,000 jobs
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Detroit's Big Three need cash -- fast
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Progressive Moulded goes down
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Horse Racing:

New York Racing's Exit From Bankruptcy Delayed Until July
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Alternative Fuels:

Wyoming Ethanol to file plan
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Personal Finance:

Just Who Are The Super Rich?
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Millionaires club gets bigger, members richer
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Millionaire Club Grows at Slowest Pace in Four Years
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Rich scale back exposure to property
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Workers asked to shoulder even more benefit burdens, survey finds
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Rating Agencies:

The Ratings Racket
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SEC Wants Investors to Reduce Reliance on Ratings
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Trucking:

Truck firm files for bankruptcy
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Retailing:

Wickes stores last in US to close
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A (Fire) Sale for Circuit City?
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Health Care:

Nursing home deal planned
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High Medicare Costs, Courtesy of Congress
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Bonds:

Junk-Bond Defaults Continue Apace - Moody's
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Health and Beauty:

Nellson creditors take haircuts
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Theme Parks:

Six Flags may have to raise white flag
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Insider Compensation:

Despite disarray at financial firms, CEOs got pay hikes last year
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New Bankruptcy Opinions
(2 new opinions today) 

Bankruptcy Court Web/Pacer Site Directory

Chapter 7, 12 & 13 Private Trustee Locator
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Recent Ch. 11 Filings
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Bankruptcy Jobs:

(1), (2), (3), (4), (5), (6), (7), (8), (9), (10), (11)
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Banking:

BofA CEO Lewis the Next to Fall?
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Citi Chairman Meets With Kuwait Sheikh
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Kuwait sovereign wealth fund pumps billions into American financial institutions
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Small Banks Face a Huge Test
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Barclays Seeks $8.9 Billion Through Share Issue
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Banks more leveraged now than before credit crisis, says J.P. Morgan
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Awards:

The Lawyer Awards: Freshfields scoops Firm of Year
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Fraud:

Bankruptcy case tests the patience of veteran judge
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Victims of scam have their say
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Investor, a Socialite, Is Charged With Fraud
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Financier Linked to Burkle Is Charged
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Credit Cards:

Citigroup Considers Repealing a Pledge, and the Slogan With It
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Generation Debt
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The U.S. House Ways and Means Committee last week voted favorably for a bill that includes a provision requiring credit card companies to report credit and debit card transactions to the IRS
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MasterCard Pays $1.8 Billion to American Express
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Wall Street:

Futures Rise, With Fed in Focus
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Asian Stocks Drop for a Fifth Day
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Stocks End Lower Tuesday On Eve Of Fed's Interest Rate Decision
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Stocks hit lowest level in three months
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Profits seen off more than 10 percent
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Greenspan Says Market 'Crisis' May Extend Into 2009
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Wall Street Should Avoid Fed `Dependence,' Ryan Says
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Financial Firms May Make Deeper Cuts, Eliminate 175,000 Jobs
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Who really knows how many bankers are unemployed?
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The professional death of a brilliant Bear Stearns salesman
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A 'Bonfire' Returns as Heartburn
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Lehman: Folding His Bonus
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Politics:

Obama Hopes to Ease Clinton's Debt
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Gambling:

Herbst taps new directors
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Casinos: Buyouts, bid wars and bankruptcy
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Hotels:

CF Hospitality sheds receiver
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Accounting:

'Below' standard audit costs KPMG
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UK:

Homeowners clamor for help with debt
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Katona given until August to avoid bankruptcy
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Sharp leap in insolvent families
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350,000 UK jobs set for the axe
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Builders pin hopes on non-residential market
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Squeeze, crunch, crisis - next stop crash
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Economic Slowdown Will Test Credit Standings Of England's Leading Football Clubs
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Canada:

Bankruptcy application stayed, plans revived to build NL oil refinery
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EU:

German, Italian Consumer Confidence Fade
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Inflation Tops Unemployment as Main Concern in EU
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'Risk of triggering inflationary wage-price spiral is particularly acute'
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Investors Call ECB's Bluff, Bet on Rate Increases
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Chile:

Chile's Peso Falls to Six-Month Low Amid Economic Slump Concern
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Mexico:

Mexico Prices Climb at Almost Twice the Forecast Pace
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Australia:

Australia now has 172,000 millionaires
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Bankruptcy trustee banned
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Japan:

Bankruptcy of developer depresses Japanese property stocks
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Aiful Falls to Lowest in Decade on Insolvency Concern
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Bosnia:

Bosnian Federation on verge of bankruptcy
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Russia:

Chernyshev engine plant in shareholder row as bankruptcy looms
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