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/ 11 April 2008

Hundreds more flights cancelled in US

American Airlines has cancelled about 570 flights scheduled for Friday, raising to more than 3 000 the number this week it has grounded to reinspect the wiring on its MD-80 fleet for a second time. The disruption has affected more than 300 000 passengers, including Friday’s schedule cuts.

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/ 17 March 2008

JP Morgan to buy Bear, Fed opens lending to Wall Street

JP Morgan Chase set a deal to buy stricken rival Bear Stearns for a rock-bottom price, while the United States Federal Reserve expanded lending to securities firms for the first time since the Great Depression to prop up the financial system. The shock news, the biggest sign yet of how devastating the credit crisis is for Wall Street, slammed the US dollar to a record low against the euro,