Top News Update
AP – Shares of Nintendo Co. shed a fifth of their value Friday after the Japanese video game giant posted a deep loss in the latest quarter, cut its full-year forecasts and slashed prices on its new 3DS handheld device.
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AP – The beaten-down shares of Ambac Financial Group Inc. took another pounding Tuesday after the bond insurer said it is negotiating a bankruptcy deal.
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AFP – Nokia’s chief executive came under increasing pressure Thursday, as the world’s biggest mobile phone maker saw its earnings slump in the face of competition from Apple and RIM in the key smartphone segment.
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AP – Sales of new homes collapsed in May, sinking 33 percent to the lowest level on record as potential buyers stopped shopping for homes once they could no longer receive government tax credits.
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AP – The housing market may be on the verge of taking another plunge that could weaken the broader economic recovery.
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