Friday, January 6, 2006
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Gwinnett Daily Post
IBM moves away from pensions
•BOSTON - Furthering corporate America's move away from pensions, International Business Machines Corp. said Thursday it will freeze its $48 billion pension plan in 2008 and instead enhance its 401(k) benefits for its 125,000 U.S. workers.
Rates on 30-year mortgages dip
•WASHINGTON - Rates on 30-year mortgages dipped this week, mortgage giant Freddie Mac reported Thursday. Its weekly survey showed that rates on 30-year, fixed-rate mortgages dropped to 6.21 percent for the week ending Jan. 6. That was down slightly from last week's average rate of 6.22 percent and was the lowest since late October.
Deadline for Delta plan extended
•NEW YORK - Delta Air Lines Inc., can have until July 11 to submit its plan for reorganizing the company under bankruptcy protection, a U.S. Bankruptcy Court judge ruled Thursday.
The airline originally had until Jan. 12 to submit a plan but Bankruptcy Court Judge Prudence Carter Beatty agreed to the extension.
•NEW YORK - Stocks managed to extend their New Year's rally to a third session Thursday, edging higher in erratic trading as the tech sector rebounded on bullish news from chip maker Xilinx Inc.
- From wire reports