A daily round-up of economic news
A daily round-up of economic news:The Federal Reserve's introduction of the 0 billion Term Securities Lending Facility sent markets soaring yesterday. The Dow closed up over 3 percent--416 points--on the day. It remains unclear whether the rally will stick, however. Bloomberg notes this morning that the dollar is down based on speculation that it won't.A European regulatory commission has given Google the go-ahead to complete its purchase of DoubleClick, an internet advertising firm. The commission concluded that the two firms' operations were sufficiently different to allow the combination. Google completed the billion deal shortly thereafter.Another Société Générale employee has been placed under arrest as the investigation into fraudulent trading activity continues. The offices of the French bank were also
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