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Interest rates still high despite Fed actions

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Despite Federal Reserve efforts to lessen the cost of credit by lowering its benchmark rate a total of 2.25 percent since September, rates to consumers have barely budged. The latest figures from Bankrate.com show lenders have apparently tightened consumer credit standards, leading to less lending and higher interest rates. The failure of credit markets to… Continue Reading Interest rates still high despite Fed actions

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Americans eager for Uncle Sam’s check

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Americans are filing their tax returns earlier this year. The National Retail Federation’s Tax Returns Consumer Intentions survey found that 61.2 percent of consumers have already filed their tax returns or will file a return by the end of the month. The survey also found that consumers filed earlier this year than they did last… Continue Reading Americans eager for Uncle Sam’s check

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Clean technology investment skyrockets

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Venture capitalists invested a record $3 billion in 221 clean technology deals worldwide in 2007, a 43 percent increase over the $2.1 billion invested during 2006. Dow Jones VentureSource reported today that the United States accounted for 83 percent of global clean technology investment during 2007. Clean technology accounted for more than 8 percent of… Continue Reading Clean technology investment skyrockets

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New push to get rid of the penny

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The Associated Press WASHINGTON _ A penny for your thoughts? Treasury Secretary Henry Paulson thinks the answer to that question should be not much. In fact, if he had his way, he would like to get rid of the penny. Asked Friday whether he thought the penny should be eliminated, Paulson agreed that it would… Continue Reading New push to get rid of the penny

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The Associated Press WASHINGTON – The economy skidded to a near halt in the final quarter of last year, clobbered by dual slumps in housing and credit that caused people and businesses to spend and invest more sparingly. The Commerce Department reported today that the gross domestic product increased at a scant 0.6 percent pace… Continue Reading Economy skids to near halt in final quarter of 2007

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DNC could mean business for Springs

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When the Democratic National Convention comes to Denver in August, there could be something in it for Springs’ small businesses. With more than 1,500 events scheduled – and only a handful hosted by the DNC – many events need planners, entertainers and caterers. To make it easier for out-of-town guests, the local host committee allows… Continue Reading DNC could mean business for Springs

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IRS letter coming your way

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The Associated Press WASHINGTON – Don’t be alarmed. More than 130 million households will get letters from the IRS starting next week – and it’s good news. The letters are part of an extensive outreach effort to make sure people don’t miss out on their share of the recently passed $168 billion economic stimulus plan.… Continue Reading IRS letter coming your way

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Commercial lenders respond to slower economy

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Both supply and demand for commercial real estate loans, a source of funds for office, retail, warehouse and hotel construction, appear to be shrinking. That opinion, from a February Commercial Mortgage Alert, and shared by many in the construction industry, is based on the results of a January Federal Reserve Senior Loan Officer Opinion Survey… Continue Reading Commercial lenders respond to slower economy

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Fed signals future rate cuts

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The Associated Press WASHINGTON_Federal Reserve Chairman Ben Bernanke warned Congress that the nation is in for a period of sluggish business growth and sent a fresh signal today that interest rates will again be lowered to steady the teetering economy. “The economic situation has become distinctly less favorable” since the summer, the Fed chief told… Continue Reading Fed signals future rate cuts

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Venture capital in India reaches record

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The Dow Jones VentureSource reports that venture capitalists invested $928 million via 80 deals in entrepreneurial companies in India, during 2007. The figure represents a 166 percent increase over 2006, this is the highest total on record for the region. “Service-oriented companies in India continue to attract investment and this is likely due to their… Continue Reading Venture capital in India reaches record

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