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November 20, 2015
NEW YORK — Corporate America has a profit problem. U.S company earnings are falling for the first time since 2009, when the economy was still reeling from the Great Recession.
The main culprit is the plunging price of oil, which has decimated earnings at big energy companies like Exxon Mobil and Chevron. Mining companies have also taken a beating because of tumbling prices for gold, silver and copper.
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