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Market Update : 
Ford Cuts Jobs, Production
Author: Elena Todorova
123jump.com
Last Update: 10:00 AM EDT August 18 2006


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Microsoft Corp. announced that it increased its share buyback plan by about $16.2 billion, lifting its total repurchase authorization to $36.2 billion through June 30, 2011. Ford Motor said that it is planning to partially shut down plants in the U.S. and Canada in the fourth quarter due to reduced production in North America. The company said Q4 production would be down 21%, and Q3 production will be 20,000 units below what was previously announced. Company''s shares dropped 3.2%.

 

 

 
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