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  Wal-Mart Hit
  By Retail Chill

  U.S. retailers saw their sales woes continue in December, and even Wal-Mart bent to harsh economic realities by cutting its earnings expectations for the current quarter.

  • GameStop Posts Strong Videogame Sales
  • December sales chart: How retailers fared
  • Retailers Cut Prices on Spring Clothing

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  Madoff Is a 'Danger,' Argue Prosecutors

  Bernard Madoff poses a "danger," argued federal prosecutors, who said the Ponzi-scheme figure should go to jail after he mailed valuables to friends and family.

  • After Big Hit, UBP Takes Hedge Funds to Task
  • Deals: Funds See High Costs of Madoff Business
  • Complete Coverage: News, victims list, more
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  Audi Defies Industry Gloom

  Audi posted its 13th consecutive year of record sales, even as auto makers around the globe are slashing production as demand for new cars in most major markets remains woeful.

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  GameStop's Sales Jump

  GameStop posted strong sales for the holiday shopping season, bolstering the view that videogames draw entertainment dollars in recessionary times.

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  Walgreen to Cut 1,000 Jobs

  Drugstore chain Walgreen plans to eliminate 1,000 jobs, or 9% of its work force, to reduce costs as consumers pare their spending.

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  RBS Mulls BOC Stake Sale

  Royal Bank of Scotland said it is considering selling its 4.3% stake in Bank of China.

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  Kuwait Bank Defaults on Debt

  Top Kuwaiti bank Global Investment House said it defaulted on most of its $3 billion debt obligations, raising concerns that other Arab Gulf financial firms may follow as the world financial crisis is spreading to the region.

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  Commercial Property Loses Shelter

  Delinquencies on mortgages for hotels, shopping malls and office buildings were sharply higher in the fourth quarter.

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  Cardinal Health Lowers Outlook

  Cardinal Health lowered its fiscal-year earnings outlook as customers deferred capital spending.

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  Satyam Scrambles to Assess Finances

  Satyam revealed it was strapped for cash and scrambled to assess its finances and ensure continuity of operations even as its chief financial officer resigned.

  • Corporate Scandal Shakes India
  • Chart: Satyam's Falling Stock Price
  • WSJ's Deogun on the Consequences
  • Graphic: Financial Frauds

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  TD Ameritrade to Buy Thinkorswim

• Lenovo Plans Major Revamp

• Data Retrieved From Airbus Crash

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  OECD: Cleanse Banks of Bad Loans

• Author Solutions Buys Xlibris

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  Wyeth in Talks for Vaccine Firm

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  Intel Outlook Pared Again

• Citi, Senators to Modify Mortgages

• Wal-Mart Picks International Head

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  Home Depot Ends Olympic Program

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  Time Warner Sees 2008 Loss

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  Merckle Family to Sell Ratiopharm