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  • Business Update: Retail chill

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Business Update: Retail chill

Holiday sales fell for the first time since an industry trade group started keeping records. Citigroup shares were whacked as the Smith Barney stake sale to Morgan Stanley failed to reassure investors. Stocks slumped as worries about consumers and banks fueled recession fears. Nortel Networks filed for bankruptcy protection. Conway Gittens reports from New York.

Reuters | January 14, 2009Watch more videos from Reuters

Tags:. .gittens. .conway. .whacked. .reassure. .bankruptcy











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