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Today's Business Headlines - Market Close from MSNBC.com
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Business
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Inflation fears sink stocks for second day
Heightened fears of inflation sent stocks sliding for a second straight session
Tuesday, as a key price index climbed to an 11-year high and an improving
manufacturing sector raised the likelihood of another interest rate hike by the
Federal Reserve.
http://msnbc.msn.com/id/3683270/
Big 3 automakers see sharp decline in sales
The Big Three automakers on Tuesday reported their July vehicle sales plummeted
from last year, when heavy discounts fueled a near record month for the auto
industry. Most of the decline was in trucks and sport utility vehicles, the
high-margin items on which domestic manufacturers depend.
http://msnbc.msn.com/id/14136797/
Fewer Americans are keeping on truckinâ?T
Surging gas prices have already decimated sales of gas-guzzling sports utility
vehicles, or SUVs, but now the nationâ?Ts Big Three automakers are facing
another economic challenge -- a slump in sales of the pickup truck, a
quintessentially American vehicle and a highly-profitable one for U.S.
automakers. By MSNBC.comâ?Ts Roland Jones.
http://msnbc.msn.com/id/14135024/
Our love affair with cars starts to skid
Americans love their automobiles, but not as much as they used to. Nearly seven
in 10 drivers enjoy getting behind the wheel, while the rest think itâ?Ts a
chore. In 1991, nearly eight in 10 said they liked driving.
http://msnbc.msn.com/id/14137896/
Consumer spending was sluggish in June
Consumer spending was weak for a fourth straight month in June as rising
gasoline prices left Americans with little to spend on other items.
Construction activity posted a stronger-than-expected advance, though, as a
record level of government spending helped offset weakness in housing.
http://msnbc.msn.com/id/14133538/
Paulson frets about protectionism
Treasury Secretary Henry Paulson voiced support for a strong dollar on Tuesday
and said America "must welcome competition, not run away from it" if the
country wants to maintain a competitive advantage.
http://msnbc.msn.com/id/14135690/
Manufacturing activity accelerated in July
The nation's manufacturing sector expanded in July at a faster clip than in
June, while companies paid significantly more for raw materials, a trade group
said Tuesday.
http://msnbc.msn.com/id/14136105/
Northwest willing to deal with flight attendants
Northwest Airlines Corp. said on Tuesday it remains willing to negotiate with
its flight attendants even after they rejected a labor deal approved by union
leaders and the bankrupt airline.
http://msnbc.msn.com/id/14124059/
Job cut plans fell sharply in July
U.S. planned layoffs fell to 37,178 in July, a six-year low, down 50 percent
from a revised 75,076 in June, said job placement firm Challenger, Gray &
Christmas on Tuesday.
http://msnbc.msn.com/id/14133865/
East Coast may be overdue for killer storm
For two years in a row, the Gulf coast has borne the brunt of hurricane
season. But the east coast is vulnerable, too. And there are growing fears
that this year, this economically vital region may be overdue. -- By CNBC's
Scott Cohn
http://msnbc.msn.com/id/14123450/
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