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Non-Tech : The ENRON Scandal

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To: Mephisto who started this subject	9/12/2002 6:14:44 PM
From: Mephisto	of 5185

Jobless Claims Raise Economy Worries Reuters Business Report Thursday September 12, 5:24 pm ET biz.yahoo.com By Anna Willard The following is an excerpt: WASHINGTON (Reuters) - "Reports on Thursday emphasized troubling trends in two areas of the U.S. economy that worry most economists -- trade and employment. The current account -- the broadest measure of trade with foreign countries since it includes investment -- mushroomed 15.6 percent in the second quarter to a record $129.96 billion while initial claims for jobless benefits last week climbed by 19,000 to 426,000, the highest level in over four months. The dollar weakened slightly on the reports, which also weighed on the stock market. The blue-chip Dow Jones industrial average finished down by more than 200 points. Nor did testimony from Federal Reserve Chairman Alan Greenspan, in which he offered a view of the economy seemingly little changed from that given to Congress in July, do much to assuage financial market concerns. Despite worries raised by such agencies as the International Monetary Fund, U.S. officials have shrugged off the importance of the wider-than-expected current account gap, saying it signaled confidence in the world's richest economy".

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