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Business

Affluent Blacks still untapped market for luxury brands

NEW ORLEANS–Wealthy African- Americans are a largely untapped and widely overlooked demographic despite having $29.8 billion in purchasing power, according to results from a study released recently.

Tax breaks big and small sweeten financial bailout

WASHINGTON–Millions of taxpayers, thousands of businesses and groups as diverse as solar power developers and natural disaster victims will see tax relief with the House vote Friday to approve and send to the president a $700 billion financial rescu

Mortgage broker offers alternatives for borrowers

As financial woes continue to cripple Wall Street Millennium Financial Group is arranging homeowner loans to its customers. The Black-owned real estate brokerage company, located in south suburban Chicago Heights, specializes in Federal Housing Administra

Congress opens hearings on financial meltdown

WASHINGTON–Days from becoming the largest bankruptcy in U.S. history, Lehman Brothers steered millions to departing executives even while pleading for a federal rescue, Congress was told Monday.

Congress OKs historic bailout bill

WASHINGTON With the economy on the brink and elections looming, Congress approved an unprecedented $700 billion government bailout of the battered financial industry on Friday and sent it to President Bush for his certain signature.

Survey reveals women’s attitudes and behavior towards money

The economy could be in a continual downward spiral and many Black women are not prepared to comfortably survive, financially, if things got worse. But that wouldn’t stop them from opening their wallets to treat themselves, based on a recent survey

Are you ready to party?

We are past the last 50 days of what is being advertised as “the most historic presidential campaign in our lifetime.” Get ready for a loaded cocktail of campaign rhetoric, charges and counter charges, misdeeds and stern faced political promis

World markets fall as US bailout seen taking time

TOKYO World stock markets tumbled Monday as investors reacted coolly to Washington's $700 billion bank bailout deal, recognizing that cleaning up the bad debt mess will take a long time and likely drag on global economic growth for the foreseeable fut

Sold to U.S. taxpayers for $700B: banks’ bad assets

WASHINGTON Sold to American taxpayers for up to $700 billion: an unprecedented plan to buy distressed banks' least desirable mortgage assets.

WaMu becomes biggest bank to fail in U.S. history

NEW YORK As the debate over a $700 billion bank bailout rages on in Washington, one of the nation's largest banks — Washington Mutual Inc. — has collapsed under the weight of its enormous bad bets on the mortgage market.
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