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LONDON (AP) - The United States must build a tougher regulatory system that can allow financial institutions to fail without causing wider economic turbulence, U.S. Treasury Secretary Henry Paulson said Wednesday in London.
SYDNEY (AP) - Australia's largest bank by market value, Commonwealth Bank of Australia Ltd., posted on Wednesday a 7 percent rise in annual profit and forecast the local economy to grow modestly amid continued headwinds from the global credit crunch.
TRAVERSE CITY, Michigan (AP) - Despite the headwinds of a slumping U.S. economy, tight credit, high gasoline prices and declining home values, Ford Motor Co.'s top American executive said he is confident the company has enough cash to weather losses and make a profit again.