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Wednesday, March 12, 2008

Wednesday News Bump

Dollar Drops on Speculation Federal Reserve's Rescue Package Won't Succeed The dollar fell on speculation the Federal Reserve's plan to provide funds to banks won't be enough to break the gridlock in money-market lending and stem credit losses.

Caterpillar Raises 2010 Sales Forecast by 20%, Topping Analysts' Estimates Caterpillar Inc., the world's largest maker of bulldozers and excavators, raised its sales forecast for 2010 by 20 percent to $60 billion, exceeding analysts' estimates. Caterpillar stock rose in late trading.

China Retail Sales Grow 20%, Matching Fastest Pace Since 1999, on Incomes China's retail sales climbed 20.2 percent, matching the fastest pace in at least nine years, a sign that consumer spending may sustain the world's fastest- growing major economy as export demand weakens.
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