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The U.S. hospitality industry will take a hit in 2009, according to a new forecast from the Travel Industry Association.
TIA predicts that leisure travel will fall 1.3 percent nationally in 2009, and business travel will decline 2.7 percent.
Travelers surveyed by TIA said they intend to cut spending on food, beverages, entertainment and souvenirs, and shorten […]
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The Federal Reserve boosted the interest rate it pays banks for the excess cash they keep on deposit, aiming to prevent its record injection of funds into the financial system from affecting its monetary policy.
“The rate on excess balances will be set equal to the lowest Federal Open Market Committee target rate in […]
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U.S. President George W. Bush signed a $700 billion financial-market rescue plan into law, calling it a “decisive action to ease the credit crunch that is now threatening our economy.''
The bipartisan legislation was sent yesterday to Bush after it was approved by the House, reversing its Sept. 29 rejection of the measure, which […]
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In its second round of venture funding, APT Pharmaceuticals Inc. raised $32 million.
The Burlingame company seeks inhaled drugs for lung diseases.
Three Arch Partners led this round and put Bill Harrington, M.D., on APT’s board of directors. InterWest Partners and Pinnacle Ventures — both new investors — also gave money and put Nina Kjellson and David […]
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German business confidence probably declined to the lowest level in more than three years in September as the worsening financial crisis in the U.S. damped the outlook for global economic growth, a survey of economists shows.
The Ifo institute's business climate index declined to 94.3 from 94.8 in August, according to the median of […]
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General Growth Properties Inc., owner of Harborplace and the Gallery in downtown Baltimore, said Monday it is considering a range of options — including selling off some of its holdings — to boost the value of its stock price and refinance its debt.
General Growth (NYSE: GGP) also said it is developing “a comprehensive, strategic plan […]
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InNexus Biotechnology Inc. is working with Covance Inc. testing a drug on monkeys for the prospective treatment of non-Hodgkin's lymphoma.
The study marks a milestone in the development of the company's lead product, DXL625, said Jeff Morhet, CEO and chairman of InNexus.
"We are beginning a study in cynomolgus monkeys of DXL625, an […]
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The U.S. budget deficit will widen to a record of about $490 billion next year, an administration official said, leaving a deep budget hole that will constrain the next president's tax and spending plans.
The projected deficit for the fiscal year that begins Oct. 1 is higher than the $407 billion forecast by President […]
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The Hawaii Tourism Authority announced the fifth annual Hawaii Tourism Conference will take place Aug. 7-8 at the Hawaii Convention Center
Conference topics will include the latest tourism issues and trends and will feature local and national industry experts. The conferees also will discuss topics such as preparing for Korean and Chinese visitors, airlift […]
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The majority of AAA Hawaii members are planning to take at least the same amount of vacations this summer as compared with last year, despite record gas prices and economic concerns.
A recent survey showed that 59 percent of AAA Hawaii members plan to travel the same amount this summer, while 13 percent […]
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