WASHINGTON A record one in 10 American homeowners with a mortgage were either at least a month behind on their payments or in foreclosure at the end of September as the source of housing market pressure shifted to the crumbling U.S. economy.
Business
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SANTIAGO, Chile Chilean officials say the economy grew by 4.1 percent in the 12 months
BRUSSELS, Belgium The EU's antitrust chief said Friday that member states would be given more room to support their ailing banks, an effort to increase lending as several European countries slide into recession.
Centre Daily Times
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Centre Daily TimesSTATE COLLEGE — Amid multiple lawsuits regarding franchising agreements, bankruptcy and copyright infringement, the Quaker Steak and Lube restaurant on North Atherton Street has closed.
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STATE COLLEGE — After 20 years of broadcasting local programming over cable networks, C-NET, the government and educational access network for Centre County, has begun streaming its content over the Internet.
Bits of Business
With Thanksgiving behind us, we enter the holiday rush toward Christmas, with 24 shopping days left.
BITS OF BUSINESS
First, a hearty congratulations to the owners of the Mount Nittany Inn. After many years of hard work, the restaurant high atop Centre Hall Mountain has finally reopened. I had a chance last weekend to have lunch at the inn and the view of the valley is not to be missed.
BRUSSELS, Belgium The EU's antitrust chief said Friday that member states would be given more room to support their ailing banks, an effort to increase lending as several European countries slide into recession.
BRUSSELS, Belgium RWE Gas AG, the German energy giant, is offering to end an EU antitrust probe into its marketing practices by selling off its high-pressure transmission network to anyone not involved in generating or supplying power, the European Commission said Friday.
WASHINGTON The Food and Drug Administration says Advair, a widely used asthma drug, does not appear to have an increased risk of serious complications seen with some newer medicines.
DETROIT General Motors Corp. says it will lay off about 2,000 more factory workers early next year as the U.S. auto sales slump continues to wreak havoc on domestic automakers.
LONDON The cost of loans between banks in both the U.S. and Europe fell Friday after central banks in the euro zone and Britain cut their benchmark interest rates sharply on Thursday.
CHARLOTTE, N.C. Merrill Lynch & Co. shareholders on Friday approved the investment bank's sale to Bank of America Corp., in a move that will create the nation's largest financial-services firm.
MOSCOW Russia's Central Bank allowed the ruble to weaken on Friday for the fourth time in a month as Urals oil slipped below $40 a barrel.
LONDON Woolworths PLC began a massive sale on Friday - raising the stakes for its peers by slashing prices by up to 50 percent - after talks between the troubled retailer's financial administrator and a potential buyer failed.
SAO PAULO, Brazil Brazil's government says rising food prices helped drive inflation higher in Latin America's largest nation in November.
BEIJING China's Cabinet on Friday released details of a fuel tax reform that would raise taxes for gasoline and diesel while eliminating other fees for drivers.
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