Tuesday, October 21, 2008

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Internet broker faces suit

Ninth Circuit Solicitor Scarlett A. Wilson is suing online loan broker LendingTree LLC, saying the company violated state law by not telling borrowers about the fees it receives from lenders. Wilson's complaint was filed in Charleston County Court of Common Pleas on Sept. 24. It is one of at least nine civil lawsuits that prosecutors around the state have brought against the Internet company since August. LendingTree has not formally responded to Wilson's complaint, and the company's spokeswoman could not be reached for comment Monday. Last month, it said that an Upstate lawsuit that raised the same allegations was without merit.

Optimism buoys Wall Street

NEW YORK â€" A rising wave of optimism lifted Wall Street Monday, propelling the Dow Jones industrials up more than 400 points on more signs of a reviving credit market and comments from Federal Reserve Chairman Ben Bernanke. All the major indexes finished with gains of 3 percent or more.

Boom to gloom

LONDON â€" The mood was frosty at London's Frieze Art Fair. Bidders were sparse at Christie's and Sotheby's. Even Andy Warhol's multicolored skulls failed to lift the art world's gloom. A week of slowing sales and sagging prices suggests the global financial meltdown has finally ended the art-market boom that saw paintings and sculptures become must-have commodities for the world's elite.

Frequent flier plans lose luster

DALLAS â€" Airline customers are cashing in more frequent-flier awards this year, looking to avoid higher fares and believing that miles just aren't worth the same anymore. With so many new ways to earn miles â€" on everything from car rentals to groceries â€" savvy travelers fear it'll soon become harder to go where they want, when they want for free.

Further boost in works?

WASHINGTON â€" What's another $150 billion on top of the more than $1 trillion that's already been spent to rescue the sinking economy and financial markets? Momentum is building for a fresh dose of economic stimulants to boost the country out of the doldrums â€" perhaps by putting more money in Americans' pockets. The White House said Monday that President Bush was open to some sort of action after Federal Reserve Chairman Ben Bernanke warned the slump could drag on without it.










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