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U.S. Reports Grim Data, EU Vows to Shield Economy

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Major U.S. banks reported huge losses and other companies painted a grim outlook for the battered U.S. economy on Thursday as Europe vowed to shield its industries from the global crisis.
In the United States, investment bank Merrill Lynch wrote down $5.7 billion in toxic assets and Citigroup reported a quarterly net loss of $2.8 billion.
U.S. industrial production posted its biggest drop in 34 years in September...

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At news.yahoo.com

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