Main Street 9

  The White House said a disorderly bankruptcy in the motor industry would be a huge blow which the US economy could not withstand. Meanwhile General Motors said it was temporarily stopping some production. And Honda is also to cut back output in North America. GM, which has been pleading for an emergency government loan [...]

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  While the Federal Reserve had been tipped to leave rates on hold, analysts said a cut looked more likely after Lehman Brothers filed for bankruptcy. The Fed has sought to soothe nerves and earlier injected $70bn  into markets to boost liquidity. Central banks worldwide have faced the twin threat of quickening inflation and a [...]

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Nearly a quarter of U.S. fuel production had been shut down due to the approach of Hurricane Ike, according to a government assessment released Friday. By 10:00 A.M. ET, 13 of the 26 Texas refineries, representing a production capacity of 3.6 million barrels of fuel a day, had been shut down, the Energy Department said. [...]

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(Fortune Small Business) — With commodity, fuel and insurance costs hitting record highs, small-business owners are anxious about next week’s federal minimum wage hike, which will require employers in 26 states and the District of Columbia to raise their base to at least $6.55. Next week’s increase of the current $5.85/hour minimum wage is the [...]

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