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History’s first sovereign default came in the 4th century BC, committed by 10 Greek municipalities. There was one creditor: the temple of Delos, Apollo’s mythical birthplace.
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Gold fell, capping the biggest two- day plunge since 1983, on investor sales following routs in global equity and commodity markets.
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U.S. stocks fell this week, sending the Dow Jones Industrial Average to the biggest loss since 2008, as the Federal Reserve said risks to the economy have increased and concern grew that policy makers will fail to spur growth.
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Commodities fell to a nine-month low, led by routs in metals, on deepening concern that governments are running out of tools to avert a global recession, eroding prospects for raw-material demand.
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Apple Inc., the world’s biggest technology company by value, was sued by Taiwan’s Via Technologies Inc. for allegedly infringing three U.S. patents for microprocessors used in mobile phones and tablet computers.
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Boeing Co.’s newest, biggest plane has cast a shadow over ceremonies to mark the three-years-late first delivery of its smaller cousin, the composite-plastic 787 Dreamliner.
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Groupon Inc., the largest daily- deal site, announced the departure of its second chief operating officer in six months and restated revenue figures, cutting sales to a fraction of their previous levels.
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The cost to protect Eastman Kodak Co.’s debt from default rose to the highest level in more than a month after the 131-year-old camera maker drew down $160 million from its revolving bank line.
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Dish Network Corp., the second- largest U.S. satellite-TV provider, may consider partnering with or buying a wireless carrier such as Sprint Nextel Corp. or Clearwire Corp., Chief Executive Officer Joseph Clayton said.
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Rick Perry was chastised yesterday by his top rival in the Republican presidential race for his support of allowing illegal-immigrant students in Texas to pay in-state tuition at public universities, an issue posing a political vulnerability for the Texas governor.