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• As the US stock markets continue to tumble and talk of a recession persists, some of the biggest firms on Wall Street are preparing through job cuts and structural shifts. Bear Stearns intends to let more than 60 employees from its IT staff go, while Prudential Securities, a division of Prudential Insurance, is predicted to make significant cuts in its investment banking unit. Many analysts feel this is a sign of things to come if the markets continue to slide.

• In the battle for online fixed

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