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Brazil judge blocks Chevron, Transocean injunction (Reuters)

Posted: February 28th, 2012, 7:13pm EST

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Reuters - A federal judge in Brazil declined to grant an injunction suspending the Brazilian operations of oil major Chevron and offshore oil-rig contractor Transocean over a November oil spill in the Frade field northeast of Rio de Janeiro.

Rising Gas Prices and No Resort (ContributorNetwork)

Posted: February 28th, 2012, 7:01pm EST

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ContributorNetwork - COMMENTARY | It is time to add another accusation at the feet of the economy: gas prices. Except this time, the economy's improvement is causing the increase. As people go back to work, that extra money goes towards gas -- and the price increases with each jump in demand. This and other factors have led to a 47 cents a gallon rise in cost over the last two months, according to CNN Money.

Summary Box: Greece approves salary, pension cuts (AP)

Posted: February 28th, 2012, 6:48pm EST

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AP - YES TO CUTS: Greece's Parliament late Tuesday approved new cuts in public sector pensions and government spending required to secure a second package of international rescue loans.

DreamWorks 4Q profit misses views; costs rising (AP)

Posted: February 28th, 2012, 6:46pm EST

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AP - Shares of DreamWorks Animation SKG Inc. fell steeply in after-hours trading Tuesday after the movie studio reported fourth-quarter earnings that were below expectations and warned that costs would increase significantly on its two films set for release this year.

Moody's must face whistleblower analyst's claim (Reuters)

Posted: February 28th, 2012, 6:37pm EST

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Reuters - Moody's Investors Service was ordered to defend against a lawsuit by a whistleblowing former analyst who claimed it illegally retaliated against him for questioning its ratings practices for risky mortgage debt.

Irish vote, German court add euro zone uncertainty (Reuters)

Posted: February 28th, 2012, 6:35pm EST

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Reuters - A planned referendum in Ireland and a German court ruling cast new uncertainty on Tuesday over efforts to overcome the euro zone's debt crisis, just when a flood of central bank money appeared to be calming financial markets.

Exclusive: Justice Department conducting criminal Libor probe (Reuters)

Posted: February 28th, 2012, 4:57pm EST

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Reuters - The Justice Department is conducting a criminal probe into whether the world's biggest banks manipulated a global benchmark rate that is at the heart of a wide range of loans and derivatives, from trillions of dollars of mortgages and bonds to interest rate swaps, a person familiar with the matter said.

GM likely to spend $500M on employee payments (AP)

Posted: February 28th, 2012, 4:52pm EST

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AP - General Motors is likely to spend more than $500 million on employee bonuses and profit-sharing based on the company's performance last year.

The first time the Dow crossed 13,000 (AP)

Posted: February 28th, 2012, 4:15pm EST

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AP - The Dow Jones industrial average first closed above 13,000 on April 25, 2007. It had taken the Dow only 129 trading days, since the previous October, to rocket from 12,000. And it took less than three months from there to reach 14,000.

Dow closes at highest since May 2008 (Reuters)

Posted: February 28th, 2012, 4:05pm EST

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Reuters - The Dow closed above 13,000 for the first time since May 2008 on Tuesday and the S&P 500 also hit a milestone, as buoyant U.S. consumer confidence data and a sharp drop in oil prices nudged the nearly five-month rally forward.

FDIC: Bank earnings hit five-year high in 2011 (AP)

Posted: February 28th, 2012, 3:56pm EST

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AP - U.S. banks are coming off their most profitable year since 2006, a sign that many have put the financial crisis behind them.

Obama hails auto bailout, hits back at GOP critics (AP)

Posted: February 28th, 2012, 3:43pm EST

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AP - In a politically sizzling attack, President Barack Obama on Tuesday accused his Republican presidential challengers of abandoning the American worker and took credit for the auto industry's resurgence while singling out GOP opposition to the taxpayer-backed rescue of General Motors and Chrysler that he helped engineer.

Idaho: Income tax cut clears House committee (AP)

Posted: February 28th, 2012, 3:13pm EST

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AP - Idaho's top-earning individuals and businesses would get tax relief worth $35.7 million under a bill that has cleared a House committee.

Gas hits $3.72 per gallon, up 30 cents in month (AP)

Posted: February 28th, 2012, 3:06pm EST

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AP - The price of gasoline rose for the 21st straight day on Tuesday. Drivers are now paying an average of $3.72 a gallon nationwide, about 24 cents more than before the streak began.

Summary Box: German court limits euro panel power (AP)

Posted: February 28th, 2012, 2:58pm EST

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AP - LIMITS ON POWER: Germany's highest court limited the powers of a special parliamentary panel set up to make quick decisions on using the eurozone rescue fund.

PIMCO's Gross shifts to defensive investment model (Reuters)

Posted: February 28th, 2012, 2:56pm EST

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Reuters - It's time for defense, says Bill Gross, manager of the world's largest bond fund.

Greece to vote on tough salary, pension cuts (AP)

Posted: February 28th, 2012, 2:34pm EST

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AP - Greece's Parliament late on Tuesday approved new cuts in public sector pensions and government spending required to secure a second package of international rescue loans.

Factory, confidence data cloud view on recovery (Reuters)

Posted: February 28th, 2012, 1:47pm EST

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Reuters - A strengthening jobs market helped lift U.S. consumer confidence to a one-year high this month, but a surprisingly large plunge in orders for some factory goods cast a cloud over signs of increased economic momentum.

LightSquared CEO resigns, Falcone joins board (Reuters)

Posted: February 28th, 2012, 1:44pm EST

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Reuters - LightSquared, the telecom startup backed by Philip Falcone, said that Sanjiv Ahuja resigned as chief executive and that Falcone was named to the board.

Honda slips; Mazda, Chrysler gain in key quality report (Reuters)

Posted: February 28th, 2012, 1:05pm EST

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Reuters - Honda Motor Co (7267.T) lost its top spot in an influential annual automotive report on quality, while Mazda and Chrysler showed the biggest gains.

Home prices fell in December in most US cities (AP)

Posted: February 28th, 2012, 12:33pm EST

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AP - Home prices fell in December for a fourth straight month in most major U.S. cities, as modest sales gains in the depressed housing market have yet to lift prices.

Dakotas taxpayers might have 2008 refunds coming (AP)

Posted: February 28th, 2012, 11:54am EST

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AP - The Internal Revenue Service says taxpayers in the Dakotas who did not file a federal return for 2008 might have refunds coming, but the three-year window for them to claim the money is closing.

U.S. bank industry in position to lend more: FDIC (Reuters)

Posted: February 28th, 2012, 10:25am EST

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Reuters - The U.S. banking industry continues to recover from the economic downturn and the 2007-2009 financial crisis, with profits rising over the past year, but the improvement can only continue if lending picks up, the Federal Deposit Insurance Corp said.

New Nevada jobless claims down for 26th month (AP)

Posted: February 28th, 2012, 10:14am EST

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AP - Nevada officials say that the number of new applications for unemployment benefits has dropped for the 26th straight month, but last month's figures showed the smallest decline over that entire period.

Home prices tumble in December: S&P (Reuters)

Posted: February 28th, 2012, 9:41am EST

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Reuters - Single-family home prices ended 2011 on a downbeat note as a drop in December prices sent the seasonally-adjusted index to its lowest level since 2003, according to a closely watched survey on Tuesday.

Markets steady as focus turns to ECB (AP)

Posted: February 28th, 2012, 7:03am EST

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AP - Stock markets shrugged off another credit rating downgrade of Greece and eked out some modest gains Tuesday as oil prices dipped for the second day running and investors awaited another offering to banks of super-cheap long-term loans from the European Central Bank.

Dow 13,000 is a big number, but it's just a number (AP)

Posted: February 26th, 2012, 12:19pm EST

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AP - Big, round numbers are hard to ignore. That's why we pay attention when the odometer clicks over to 100,000 miles, and why the world threw a party at the dawn of 2000 instead of the technical start of the millennium in 2001.

Penney's February sales down (Reuters)

Posted: February 24th, 2012, 11:51am EST

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Reuters - J.C. Penney Co Inc's February sales are down from last year, its chief executive said on Friday, as the retailer tries to get shoppers used to a new pricing strategy that does not include the discounts that hurt margins.

Actress Lucy Lawless climbs oil-drilling ship (AP)

Posted: February 23rd, 2012, 7:36pm EST

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AP - Television actress Lucy Lawless climbed aboard an oil-drilling ship Friday in New Zealand, joining six Greenpeace activists to try to stop the vessel from setting off for the Arctic.

Poll: Millionaire tax popular, spending cuts too (AP)

Posted: February 23rd, 2012, 7:07pm EST

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AP - Most people like President Barack Obama's proposal to make millionaires pay a significant share of their incomes in taxes. Yet they'd still rather cut spending than boost taxes to balance the federal budget, an Associated Press-GfK poll shows, giving Republicans an edge over Democrats in their core ideological dispute over the nation's fiscal ills.

Presidential Candidates Comment on High Gas Prices (ContributorNetwork)

Posted: February 23rd, 2012, 6:58pm EST

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ContributorNetwork - Gas Buddy reports that today's average gas prices range from $3.02 in Wyoming to $4.23 in Hawaii. Pain at the pump is evident in Kentucky, where prices went up by $0.061 overnight. How are presidential candidates approaching the issue of high gas prices?

Presidential Candidates Comment on High Gas Prices (ContributorNetwork)

Posted: February 23rd, 2012, 6:58pm EST

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ContributorNetwork - Gas Buddy reports that today's average gas prices range from $3.02 in Wyoming to $4.23 in Hawaii. Pain at the pump is evident in Kentucky, where prices went up by $0.061 overnight. How are presidential candidates approaching the issue of high gas prices?

Sears shedding some stores, reports 4Q loss (AP)

Posted: February 23rd, 2012, 6:55pm EST

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AP - Sears said Thursday that it's unloading some of its profit-busting stores, but the retailer fell short of revealing how it plans to woo shoppers back into its remaining ones.

Gap's 4th-quarter profit falls 40 percent (AP)

Posted: February 23rd, 2012, 6:48pm EST

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AP - Gap Inc. reported a 40 percent drop in fourth-quarter profit as the clothing retailer wrestled with higher costs and had to discount heavily to attract shoppers during the crucial holiday season.

AIG posts huge 4th-quarter profit on tax benefit (Reuters)

Posted: February 23rd, 2012, 6:24pm EST

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Reuters - Bailed-out insurer American International Group reported a $19.8 billion profit for the fourth quarter, after an accounting change that allowed the company to record an enormous one-time benefit.

AIG posts huge 4th-quarter profit on tax benefit (Reuters)

Posted: February 23rd, 2012, 6:24pm EST

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Reuters - Bailed-out insurer American International Group reported a $19.8 billion profit for the fourth quarter, after an accounting change that allowed the company to record an enormous one-time benefit.

Dow flirts with 13,000 again but can't make it (AP)

Posted: February 23rd, 2012, 5:34pm EST

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AP - The Dow Jones industrial average made another run at 13,000 but couldn't quite get there.

Dow flirts with 13,000 again but can't make it (AP)

Posted: February 23rd, 2012, 5:34pm EST

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AP - The Dow Jones industrial average made another run at 13,000 but couldn't quite get there.

Apple ponders cash, caves on board-vote proposal (Reuters)

Posted: February 23rd, 2012, 5:24pm EST

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Reuters - Apple Inc on Thursday adopted a measure long desired by investors and corporate governance activists, granting its shareholders a bigger say in the appointment of directors to the board of the world's most valuable technology company.

Apple ponders cash, caves on board-vote proposal (Reuters)

Posted: February 23rd, 2012, 5:24pm EST

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Reuters - Apple Inc on Thursday adopted a measure long desired by investors and corporate governance activists, granting its shareholders a bigger say in the appointment of directors to the board of the world's most valuable technology company.

Jobless claims hold steady at 4-year low (Reuters)

Posted: February 23rd, 2012, 5:17pm EST

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Reuters - The number of Americans filing new claims for jobless benefits last week held at the lowest level since the early days of the 2007-2009 recession, signaling that the battered labor market is healing.

Jobless claims hold steady at 4-year low (Reuters)

Posted: February 23rd, 2012, 5:17pm EST

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Reuters - The number of Americans filing new claims for jobless benefits last week held at the lowest level since the early days of the 2007-2009 recession, signaling that the battered labor market is healing.

Coming: ETF version of world's biggest mutual fund (AP)

Posted: February 23rd, 2012, 5:03pm EST

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AP - Call it PIMCO Total Return 2.0. The world's largest mutual fund, run by star bond trader Bill Gross, will soon also be available to investors as an exchange-traded fund.

Coming: ETF version of world's biggest mutual fund (AP)

Posted: February 23rd, 2012, 5:03pm EST

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AP - Call it PIMCO Total Return 2.0. The world's largest mutual fund, run by star bond trader Bill Gross, will soon also be available to investors as an exchange-traded fund.

Wall St rises, nearing 4-year highs (Reuters)

Posted: February 23rd, 2012, 4:55pm EST

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Reuters - Wall Street stocks rose on Thursday after data showed the U.S. labor market remained on the mend, but the market stalled as it approached highs not seen since before the 2008 collapse of Lehman Brothers.

Wall St rises, nearing 4-year highs (Reuters)

Posted: February 23rd, 2012, 4:55pm EST

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Reuters - Wall Street stocks rose on Thursday after data showed the U.S. labor market remained on the mend, but the market stalled as it approached highs not seen since before the 2008 collapse of Lehman Brothers.

P&G to cut about 10 percent of non-manufacturing jobs (Reuters)

Posted: February 23rd, 2012, 4:20pm EST

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Reuters - Procter & Gamble Co plans to cut a total of 5,700 nonmanufacturing jobs as part of a new plan to reduce costs by $10 billion by the end of fiscal 2016, Chief Executive Officer Bob McDonald said on Thursday.

Insight: Bankers escape big penalties in FDIC failed bank cases (Reuters)

Posted: February 23rd, 2012, 2:33pm EST

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Reuters - Like many banks engulfed by the mortgage crisis, First National Bank of Nevada specialized in risky home loans that didn't require borrowers to prove their incomes. When the housing bubble burst, First National got crushed in 2008 under the weight of bad loans that it could no longer resell to investors.

Draghi: Greek compliance must be 'flawless' (AP)

Posted: February 23rd, 2012, 12:52pm EST

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AP - The head of the European Central Bank said Greece's compliance with the terms of its bailout agreement must be "flawless" for the euro130 billion ($173 billion) program to succeed.

Draghi: Greek compliance must be 'flawless' (AP)

Posted: February 23rd, 2012, 12:52pm EST

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AP - The head of the European Central Bank said Greece's compliance with the terms of its bailout agreement must be "flawless" for the euro130 billion ($173 billion) program to succeed.

G20 not close to IMF resources agreement: Canada (Reuters)

Posted: February 23rd, 2012, 10:55am EST

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Reuters - The Group of 20 wealthy and emerging nations is not close to an agreement on increasing the resources of the International Monetary Fund to help it cope with Europe's debt crisis, a senior Canadian finance official said on Thursday.

Unemployment aid applications stay at 4-year low (AP)

Posted: February 23rd, 2012, 9:07am EST

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AP - The number of people seeking unemployment aid was unchanged last week and the four-week average of applications fell to its lowest point in four years. The figures add to evidence that show the job market is improving.

Unemployment aid applications stay at 4-year low (AP)

Posted: February 23rd, 2012, 9:07am EST

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AP - The number of people seeking unemployment aid was unchanged last week and the four-week average of applications fell to its lowest point in four years. The figures add to evidence that show the job market is improving.

Royal Bank of Scotland losses widen on writedowns (AP)

Posted: February 23rd, 2012, 3:45am EST

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AP - Royal Bank of Scotland, which is majority-owned by the British taxpayer, saw its loss in 2011 swell by 78 percent as it booked large provisions for Greek debt and compensation for buyers of payment protection insurance.

Obama to address gas prices, pitch energy policy (AP)

Posted: February 23rd, 2012, 3:33am EST

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AP - President Barack Obama is confronting Americans' anxiety over rising gasoline prices by drawing attention to his energy policies and taking credit for rising oil and gas production, a greater mix of energy sources and decreased consumption.

Liberty Global mulls bid for Ziggo: paper (Reuters)

Posted: February 23rd, 2012, 3:01am EST

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Reuters - U.S. cable group Liberty Global is considering a bid for Dutch cable firm Ziggo, estimated to be worth 8 billion euros ($10.6 billion) and which is planning a stock listing, Dutch daily De Telegraaf reported on Thursday without citing sources.

FACT CHECK: Errant claims on auto bailout, taxes (AP)

Posted: February 23rd, 2012, 2:56am EST

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AP - Twenty Republican presidential debates later, the head-scratching claims kept coming.

Take Two: Can a Second Bailout Save Greece? (Time.com)

Posted: February 23rd, 2012, 1:35am EST

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Time.com - After months of delays, arguments and doubts, euro zone finance ministers agreed on a second, $170 billion bailout of beleaguered Greece in the early hours of Tuesday morning

HP profit plummets, CEO urges patience (Reuters)

Posted: February 22nd, 2012, 9:30pm EST

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Reuters - Hewlett-Packard Co's earnings fell nearly 44 percent and the world's No. 1 computer maker forecast a second-quarter profit below Wall Street estimates as it struggles with weak sales of PCs and printers.

Romney proposes 28 percent top income tax rate (Reuters)

Posted: February 22nd, 2012, 7:26pm EST

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Reuters - Republican Mitt Romney revised his proposal for overhauling the U.S. tax code on Wednesday, calling for all individual tax rates to be cut by 20 percent while declining to offer specifics on how to make up the lost revenue from lower rates.

Ford to add $3.8B to pension plans this year (AP)

Posted: February 22nd, 2012, 7:25pm EST

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AP - Ford Motor Co. will pump $3.8 billion into its global pension plans this year as it tries to get them closer to fully funding their obligations.

Some money from mortgage settlement to be diverted (AP)

Posted: February 22nd, 2012, 5:47pm EST

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AP - The ink wasn't even dry on a settlement with the nation's top mortgage lenders when Missouri Gov. Jay Nixon laid claim to a chunk of the money to avert a huge budget cut for public colleges and universities.

Burned before, Fed officials cautious on rebound (Reuters)

Posted: February 22nd, 2012, 4:47pm EST

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Reuters - U.S. central bank officials have good reason to be skeptical about the strength of the economy: excessive optimism has caught them flat-footed before.

Banks sink on European economic worry (Reuters)

Posted: February 22nd, 2012, 4:45pm EST

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Reuters - Banks led stocks lower on Wednesday as the S&P 500 stalled near a 10-month-high after signs of weak European business activity rekindled concerns about a recession overseas.

Greek lawmakers rush to clear promised austerity (AP)

Posted: February 22nd, 2012, 11:39am EST

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AP - Greece scrambled Wednesday to push through a batch of emergency laws that will further cut incomes and state spending, a day after securing a new bailout and debt relief deal designed to stave off bankruptcy.

Private jet shipments slip, but improvement seen (Reuters)

Posted: February 22nd, 2012, 10:32am EST

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Reuters - Worldwide shipments of business jets and other private aircraft fell again last year, but billings rose modestly in a sign of improvement in a tough economy.

Fitch downgrades Greece on debt swap plan (Reuters)

Posted: February 22nd, 2012, 9:04am EST

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Reuters - Fitch cut Greece's long-term ratings on Wednesday to its lowest rating above a default, becoming the first ratings agency to make the widely expected downgrade after the country announced a bond exchange plan to ease its massive debt burden.

Holiday spending pushes Macy's 4Q profit higher (AP)

Posted: February 21st, 2012, 5:42pm EST

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AP - A strong holiday shopping season and hearty online sales pushed Macy's Inc.'s fourth quarter net income up 12 percent. That topped Wall Street's expectations, and the department store chain's stock hit a 52-week high.

World stocks rise on hopes for Greece, US economy (AP)

Posted: February 17th, 2012, 10:13am EST

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AP - Stock markets advanced Friday on hopes that Greece would soon get its crucial second bailout and following another batch of upbeat U.S. economic news.

Nestle cautious on 2012 as it seeks new growth (Reuters)

Posted: February 16th, 2012, 6:53am EST

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Reuters - Nestle echoed the cautious outlook for 2012 of other global food makers on Thursday as it said it was banking on new markets and products to put it ahead of the field after it posted forecast-beating 2011 sales growth.

Nestle sales beat hopes but tough year expected (AP)

Posted: February 16th, 2012, 5:52am EST

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AP - Nestle SA, the world's biggest food and drinks maker, managed to brush aside the impact of a soaring domestic currency to post a solid increase in profits in 2011 as sales rose strongly, particularly in developing countries.

Stock index futures signal early losses (Reuters)

Posted: February 16th, 2012, 5:17am EST

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Reuters - Stock index futures pointed to a lower open on Wall Street on Thursday, with futures for the S&P 500 down 0.37 percent, Dow Jones down 0.27 percent and Nasdaq 100 down 0.11 percent at 0955 GMT (4:55 a.m. EST).

Contagion fears back on Greek bailout uncertainty (AP)

Posted: February 16th, 2012, 4:48am EST

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AP - Mounting confusion over whether Greece will get vital bailout cash to avoid defaulting next month is rekindling fears that Europe's debt crisis will spread to bigger countries like Italy.

Greece battles mistrust to target bailout deal (Reuters)

Posted: February 16th, 2012, 4:47am EST

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Reuters - Greece expressed hope it was within days of finally securing a 130-billion-euro EU/IMF bailout to ease its debt crisis but markets reacted skeptically on Thursday as acrimony grew between Athens and euro zone partners led by Germany.

Moody's warns may downgrade 17 global banks, securities firms (Reuters)

Posted: February 16th, 2012, 4:37am EST

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Reuters - Moody's warned on Thursday it may cut the credit ratings of 17 global and 114 European financial institutions in another sign the impact of the euro zone government debt crisis is spreading throughout the global financial system.

Oil hovers below $102 as Iran tensions bubble (AP)

Posted: February 16th, 2012, 3:18am EST

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AP - Oil hovered below $102 a barrel Thursday in Asia amid conflicting reports about whether Iran is cutting crude exports to Europe.

Oldest Swiss private bank is newest U.S. target (Reuters)

Posted: February 16th, 2012, 2:22am EST

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Reuters - On the morning of January 27, employees at the St. Gallen headquarters of Wegelin, Switzerland's oldest private bank, were told to expect an important announcement from Konrad Hummler, Wegelin's leading partner. Other Wegelin branches across Switzerland, also alerted, tuned in to the company-wide address system.

Foreclosure activity edges higher in January (AP)

Posted: February 16th, 2012, 1:12am EST

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AP - Banks took back more U.S. homes in January than in the previous month, the latest sign that foreclosures are accelerating after slowing sharply last year while lenders sorted out foreclosure-abuse claims.

Santorum's tax returns show rise in wealth (AP)

Posted: February 15th, 2012, 11:00pm EST

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AP - Republican presidential candidate Rick Santorum released four years of federal income tax returns on Wednesday night, showing a sharp rise in his personal wealth spurred by his growing work as Washington-based corporate consultant and media commentator.

Citigroup pays $158 million in mortgage fraud pact (Reuters)

Posted: February 15th, 2012, 6:21pm EST

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Reuters - Citigroup Inc has agreed to pay $158.3 million to settle U.S. civil claims that it defrauded the government into insuring thousands of risky home loans made by its CitiMortgage unit.

Walmart wins with a back-to-basics approach (Reuters)

Posted: February 15th, 2012, 6:02pm EST

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Reuters - Wal-Mart Stores Inc's turnaround appears to be gaining traction as simple strategies like undercutting competitors by a penny on a gallon of milk are helping to restore its image as the go-to retailer for budget-conscious Americans.

Lexus tops as survey finds more auto dependability (AP)

Posted: February 15th, 2012, 5:49pm EST

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AP - Expect fewer breakdowns, squeaks, rattles or other problems with your car.

China leader-in-waiting Xi woos and warns U.S (Reuters)

Posted: February 15th, 2012, 5:17pm EST

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Reuters - China's leader-in-waiting Xi Jinping wooed and warned the United States on Wednesday, offering deeper cooperation on trade and global troublespots while demanding Washington heed Beijing's demands on Tibet and other contentious "core interests."

Latest developments in Greece's financial crisis (AP)

Posted: February 15th, 2012, 4:54pm EST

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AP - Eurozone finance ministers Wednesday welcomed progress made by Greece in implementing strict austerity programs in return for a euro130 billion ($170 billion) bailout. However, the group wants to put the country under even tighter surveillance before the rescue funds are released.

Greek conservative leader gives bailout promise (Reuters)

Posted: February 15th, 2012, 8:12am EST

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Reuters - Greek conservative party leader Antonis Samaras gave a written commitment on Wednesday to implement a punishing new austerity package, a condition for Athens to get a second EU/IMF bailout and avoid national bankruptcy.

Kellogg to buy Pringles from P&G for $2.7 billion (Reuters)

Posted: February 15th, 2012, 8:00am EST

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Reuters - Kellogg Co said on Wednesday it will buy the Pringles business from Procter & Gamble Co for $2.7 billion in cash, as it aims to build its position in the global snacks market comparable to its strength in the cereal business.

Deere profit beats expectations; raises forecast (Reuters)

Posted: February 15th, 2012, 7:27am EST

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Reuters - Deere & Co reported a 4 percent rise in quarterly earnings on Wednesday due to growing demand for farming and construction machinery and higher prices.

Comcast profit up on better video, Web subscribers (Reuters)

Posted: February 15th, 2012, 7:17am EST

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Reuters - Comcast Corp posted a better-than-expected rise in quarterly profit driven by strong video and Internet subscriber additions, though it was tempered by weak performances at its NBC Universal broadcast and movie units.

Comcast subscribers almost stop cancelling cable (AP)

Posted: February 15th, 2012, 7:09am EST

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AP - It's become the routine in the cable industry that subscribers stream out the door every quarter, hanging up on cable in favor of service from satellite or phone companies. But in the October to December quarter, Comcast nearly managed to stop that flow.

Italy slides back into recession (AP)

Posted: February 15th, 2012, 7:06am EST

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AP - Italy's national statistics agency confirmed Wednesday that the eurozone's third-largest economy had slid into recession thanks to a drop in industrial activity and a stagnant service sector.

Euro countries voice doubts over Greek (AP)

Posted: February 15th, 2012, 6:59am EST

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AP - Some eurozone countries have strong doubts over whether a second massive bailout can actually save Greece, officials said Wednesday, even as Athens rushed to meet tough conditions to qualify for the euro130 billion ($170 billion) rescue.

Stock index futures signal higher Wall Street open (Reuters)

Posted: February 15th, 2012, 6:54am EST

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Reuters - Stock index futures added to earlier gains on Wednesday after a gauge of manufacturing in New York State picked up in February to its highest level in more than 1-1/2 years.

North and south split as euro zone economy shrinks (Reuters)

Posted: February 15th, 2012, 6:41am EST

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Reuters - The euro zone economy shrank at the end of 2011 and will flirt with a mild recession under the weight of the sovereign debt crisis, but strength in France and resilience in Germany may keep it above water.

Greek conservative takes bailout pledge to the wire (Reuters)

Posted: February 15th, 2012, 4:55am EST

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Reuters - Greek conservative leader Antonis Samaras will send a letter of commitment to the terms of an EU/IMF bailout deal within the day, a party source said on Wednesday, with the country's bankruptcy rescue hanging in the balance.

Oil rises above $101 as Middle East tensions rise (AP)

Posted: February 15th, 2012, 3:55am EST

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AP - Oil rose above $101 a barrel Wednesday in Asia as escalating tensions in the Middle East outweighed lingering concerns about Greece's ability to implement austerity measures to resolve its debt crisis.

Goldman analyst probed for leaking inside info: report (Reuters)

Posted: February 15th, 2012, 2:25am EST

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Reuters - A Goldman Sachs technology analyst is under investigation by federal authorities for leaking inside information to hedge funds, the Wall Street Journal said, citing people close to the situation.

GOP critics hit Obama's $3.8 trillion budget (AP)

Posted: February 14th, 2012, 9:37pm EST

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AP - Treasury Secretary Timothy Geithner told Congress Tuesday that the president's new $3.8 trillion spending plan would impose new taxes on only 2 percent of the nation's wealthiest families and the alternative would be to seek more painful cuts in other government programs such as defense, Social Security and Medicare.

Obama plan would end dozens of business tax breaks (Reuters)

Posted: February 14th, 2012, 8:38pm EST

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Reuters - The Obama administration's corporate tax reform plan would end "dozens and dozens" of tax breaks, Treasury Secretary Timothy Geithner said on Tuesday as he defended the White House's election-year call for higher taxes on the wealthy.

Hedge funds see treasure in new public players (Reuters)

Posted: February 14th, 2012, 7:33pm EST

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Reuters - Hedge fund managers bought shares of several of last year's hot IPOs in the fourth quarter, including upscale retailer Michael Kors and online networking site LinkedIn .

Romney calls for quick end to auto bailout (Reuters)

Posted: February 14th, 2012, 7:20pm EST

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Reuters - Republican presidential candidate Mitt Romney called on the government on Tuesday to quickly sell its stake in General Motors, a move that could lock in about $14 billion in losses for U.S. taxpayers.

Obama to tout American manufacturing in Wis. visit (AP)

Posted: February 14th, 2012, 5:12pm EST

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AP - President Barack Obama will try to use his Wednesday visit to a Milwaukee padlock manufacturer to highlight an improving economy and showcase companies that are bringing jobs back to the U.S., even though the Wisconsin company's success isn't reflective of the state.

Late payments on mortgages rise again in 4th qtr (AP)

Posted: February 14th, 2012, 12:51pm EST

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AP - Late payments on mortgages ticked up in the last three months of 2011, the second straight quarter-to-quarter increase after nearly two years of steady decline.

W.Va. AG launches mortgage settlement project (AP)

Posted: February 14th, 2012, 12:21pm EST

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AP - West Virginia officials are launching a project to help homeowners get relief stemming from a nationwide mortgage settlement.

Avon posts 4Q loss as sales slump, costs rise (AP)

Posted: February 14th, 2012, 10:26am EST

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AP - Despite Avon Products Inc.'s efforts to revive its business, the beauty products seller posted a fourth-quarter net loss as sales fell, costs rose and it marked down the value of a silver jewelry company acquired in 2010.

Capitol Hill weighs GOP payroll tax gambit (AP)

Posted: February 14th, 2012, 10:16am EST

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AP - House lawmakers are returning to Capitol Hill to weigh a proposal by GOP leaders to extend the 2-percentage-point cut in the payroll tax through the end of the year and add the approximately $100 billion cost to the nation's $15 trillion-plus debt instead of scrounging around the budget for ways to pay for it.

Business inventories up 0.4 percent in December (Reuters)

Posted: February 14th, 2012, 10:14am EST

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Reuters - Business inventories rose 0.4 percent in December, reinforcing the view that fourth-quarter economic growth received a big boost from companies restocking their shelves.

Creditors spell out Greece austerity measures (AP)

Posted: February 14th, 2012, 10:06am EST

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AP - Greece's international creditors spelled out the spending cuts and reforms that Athens has to put into practise before it can receive vital bailout cash, according to a draft document obtained by The Associated Press on Tuesday.

EU debt crisis potential impediment to U.S. growth: Geithner (Reuters)

Posted: February 14th, 2012, 10:01am EST

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Reuters - Treasury Secretary Timothy Geithner warned on Tuesday that Europe's debt problems along with the slowdown in other major economies present "potential impediments" to U.S. growth.

Wall Street falls after retail sales data disappoint (Reuters)

Posted: February 14th, 2012, 9:50am EST

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Reuters - The S&P 500 index retreated from near a seven-month high Tuesday after weaker-than-expected January U.S. retail sales data curbed investors' appetite for risky assets.

Michael Kors posts higher profit; stock jumps (Reuters)

Posted: February 14th, 2012, 9:45am EST

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Reuters - Michael Kors Holdings Ltd reported higher quarterly results, helped by strong demand for its namesake luxury brand, sending shares of the designer apparel and accessory company up 23 percent.

Moody's warns it may cut AAA-rating for UK and France (Reuters)

Posted: February 14th, 2012, 9:24am EST

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Reuters - Rating agency Moody's warned it may cut the triple-A ratings of France, Britain and Austria and it downgraded six other European nations including Italy, Spain and Portugal, citing growing risks from Europe's debt crisis.

A look at Greece's austerity measures (AP)

Posted: February 14th, 2012, 8:25am EST

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AP - Greece's international creditors have spelled out the austerity measures promised by Athens that have to be put into practice before it can receive new bailout cash, totaling more than euro2.5 billion ($3.31 billion).

UK inflation rate drops to 3.6 percent (AP)

Posted: February 14th, 2012, 5:30am EST

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AP - Britain's inflation rate fell to 3.6 percent in the year to January from 4.2 percent the previous month, official figures showed Tuesday, to the likely relief of cash-strapped households which have seen muted pay increases more than eaten up by rising prices.

Oil hovers below $101 ahead of US supply data (AP)

Posted: February 14th, 2012, 4:41am EST

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AP - Oil prices hovered below $101 a barrel Tuesday in Asia ahead of U.S. crude supply figures that will provide clues about the strength of demand.

Chrysler, Clint Eastwood Say Super Bowl Ad Isn't Political (ContributorNetwork)

Posted: February 13th, 2012, 6:30pm EST

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ContributorNetwork - Chrysler Group CEO Sergio Marchionne defended the auto company's "It's Halftime in America" commercial during the Super Bowl featuring Clint Eastwood talking up Detroit. The ad slot stirred up debate for being a political statement, but Marchionne says it wasn't that, MLive reports. Here are details about Chrysler's ad.

Most of Romney's top fundraisers remain anonymous (AP)

Posted: February 13th, 2012, 6:00pm EST

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AP - Despite criticism of Fannie Mae by Republican presidential candidate Mitt Romney, his campaign accepted nearly $280,000 in donations raised by a registered lobbyist who once represented the government mortgage giant and whose clients now include a private equity firm and the drug company Pfizer.

Investors hold steady in stock funds in January (AP)

Posted: February 13th, 2012, 5:42pm EST

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AP - A January market rally wasn't enough to get investors back into stock mutual funds in a big way. But they did stop pulling out more cash than they were putting in, ending an eight-month string of net withdrawals.

Ex-Bear Stearns execs pay fines, accept bans (AP)

Posted: February 13th, 2012, 5:37pm EST

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AP - Two former Bear Stearns executives reached settlements Monday with federal regulators over civil charges they mislead investors about risky mortgage securities when the housing market was collapsing.

Summary Box: Hot homebuilders stocks worth a look (AP)

Posted: February 13th, 2012, 4:34pm EST

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AP - ROARING RALLY: In anticipation of the spring home-selling season, the Standard & Poor's homebuilders index has surged 60 percent in four months.

How to invest in the coming housing market rebound (AP)

Posted: February 13th, 2012, 4:33pm EST

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AP - The housing market recovery hasn't taken off yet, but a rally in its stocks sure has. The Standard & Poor's homebuilders index is up 60 percent since October.

Greece surveys riot damage after austerity vote (AP)

Posted: February 13th, 2012, 2:56pm EST

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AP - Firefighters doused smoldering buildings and cleanup crews swept rubble from the streets of central Athens on Monday following a night of rioting during which lawmakers approved harsh new austerity measures demanded by bailout creditors to save the nation from bankruptcy.

Two former Bear Stearns managers settle SEC case (Reuters)

Posted: February 13th, 2012, 2:53pm EST

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Reuters - Two former Bear Stearns fund managers, who were acquitted of criminal charges over the demise of their mortgage-laden hedge funds, agreed on Monday to pay more than $1 million to resolve a civil lawsuit brought by market regulators.

Google wins EU okay for Motorola buy (Reuters)

Posted: February 13th, 2012, 2:22pm EST

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Reuters - Google Inc won unconditional EU regulatory approval on Monday for its planned $12.5 billion purchase of mobile handset maker Motorola Mobility.

Summary Box: Cyprus opens oil, gas drilling area (AP)

Posted: February 13th, 2012, 1:54pm EST

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AP - HERE'S THE DRILL: Cyprus has launched a second licensing round for offshore exploratory drilling as hopes grow that potential oil and gas discoveries will buoy the eurozone country's sagging economy.

Cosmetics giant L'Oreal says net profit up 8.9 pct (AP)

Posted: February 13th, 2012, 1:15pm EST

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AP - French cosmetics giant L'Oreal on Monday reported a solid increase in sales and profit for 2011, driven by growth in emerging markets, which the company said would surpass western Europe as its most important region this year.

US probes door fires in 2006, 2007 TrailBlazers (AP)

Posted: February 13th, 2012, 12:26pm EST

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AP - Federal safety regulators are investigating fires in the driver's side doors of Chevy TrailBlazers, the second such probe in a week.

Ex-UK police officer convicted of corruption (AP)

Posted: February 13th, 2012, 12:19pm EST

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AP - A former senior British police officer was sentenced to jail on corruption charges Monday for falsely arresting a business rival over a financial dispute.

Greece faces further obstacles in bailout deal (AP)

Posted: February 13th, 2012, 12:16pm EST

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AP - Greece faces further hurdles and delays before it can receive a second, euro130 billion ($171 billion) bailout in spite of its lawmakers voting through more austerity measures in the face of violent protests.

Venezuela's Capriles targets toppling Chavez (Reuters)

Posted: February 13th, 2012, 12:07pm EST

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Reuters - Venezuela's opposition primary winner Henrique Capriles oozed confidence on Monday that he can unseat President Hugo Chavez and end 13 years of socialism that foes say has left the OPEC nation in crisis.

After "lemming" exodus, manufacturers look to U.S (Reuters)

Posted: February 13th, 2012, 11:58am EST

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Reuters - Big manufacturers moved their production out of the country too quickly over the past decades and now see a competitive advantage in building up their footprints back home, top executives said on Monday.

Obama seeks to cut municipal bond tax breaks (Reuters)

Posted: February 13th, 2012, 11:53am EST

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Reuters - President Barack Obama on Monday proposed limiting tax breaks given to high-income earners on the interest paid by municipal bonds, a change that could rock the $3.7 trillion market if approved.

Wall St higher on Greek deal (Reuters)

Posted: February 13th, 2012, 11:44am EST

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Reuters - Stocks extended gains on Monday, with the Nasdaq rising one percent on strength in large-cap tech shares.

U.S. probes reports of door fires in Chevrolet SUV (Reuters)

Posted: February 13th, 2012, 11:24am EST

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Reuters - U.S. safety regulators are investigating reports of driver-side door fires in some 2006 and 2007 Chevrolet Trailblazer sport utility vehicles.

Oil demand and forecasts: getting it wrong again in 2012 (Reuters)

Posted: February 13th, 2012, 11:13am EST

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Reuters - Trying to forecast world oil demand growth is a tricky job at the best of times. This year abnormal levels of uncertainty about the global economy are making the job even more difficult.

Greece still to convince Europe over rescue deal (Reuters)

Posted: February 13th, 2012, 10:36am EST

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Reuters - Europe gave Greece until Wednesday to convince skeptical international creditors that it would stick to the punishing terms of a multi-billion-euro rescue package, endorsed by parliament as rioters torched downtown Athens.

AmerisourceBergen CFO DiCandilo resigns (Reuters)

Posted: February 13th, 2012, 10:30am EST

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Reuters - AmerisourceBergen Corp said on Monday its Chief Financial Officer Michael DiCandilo had resigned to pursue other interests, effective immediately, sparking at least one broker downgrade and sending its shares down more than 3 percent.

China's CIC brushes aside Merkel investment plea (Reuters)

Posted: February 13th, 2012, 6:21am EST

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Reuters - The head of China's $410 billion sovereign wealth fund CIC brushed aside a call by German Chancellor Angela Merkel to buy European government debt, saying such investments were "difficult" for long-term investors.

Details emerge on Rep. McKeon's Countrywide loan (AP)

Posted: February 12th, 2012, 7:21pm EST

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AP - Documents detail the terms of a discounted mortgage loan received by U.S. Rep. Howard McKeon from the now-defunct Countrywide Financial Corp. under a VIP program, according to a published report.

Exclusive: Mortgage problems? Turn your house into a billboard (Reuters)

Posted: February 12th, 2012, 7:06pm EST

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Reuters - When they saw the house on El Dorado Drive in this Los Angeles suburb being painted a startling orange and green and giant billboards hung on the outside, Scott and Beth Hostetler's neighbors were initially angry and confused. Some even considered calling the police.

U.S. gasoline price rises to $3.51/gallon: survey (Reuters)

Posted: February 12th, 2012, 3:34pm EST

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Reuters - The average price for a gallon of gasoline in the United States rose nearly 12 cents in the past three weeks to about $3.51, due in part to higher prices for North Sea crude oil, according to the nationwide Lundberg Survey.

Clashes as Greek Parliament debates bailout law (AP)

Posted: February 12th, 2012, 1:38pm EST

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AP - Protesters and police fought running battles in central Athens Sunday, as Greek lawmakers debated legislation that would introduce severe austerity measures to stave off bankruptcy.

Greeks hurl petrol bombs as lawmakers weigh austerity (Reuters)

Posted: February 12th, 2012, 1:30pm EST

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Reuters - Black-masked protesters throwing petrol bombs created a wall of fire on Sunday outside Greece's parliament as lawmakers inside looked set defy public rage by endorsing a new austerity deal to secure an EU/IMF bailout and avoid national bankruptcy.

White House defends deficit (Reuters)

Posted: February 12th, 2012, 12:33pm EST

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Reuters - President Barack Obama's chief of staff, Jacob Lew, defended his boss on Sunday for failing to cut the U.S. budget deficit, making the election-year argument that now was the wrong time to impose austerity measures that could sap an economic recovery.

Fed minutes to clarify extent of discord on easing (Reuters)

Posted: February 12th, 2012, 11:52am EST

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Reuters - A number of top Federal Reserve officials likely saw a need for additional monetary easing at the central bank's meeting last month, although there are few signals the central bank will move soon.

Iraq opens new oil export terminal in Persian Gulf (AP)

Posted: February 12th, 2012, 11:33am EST

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AP - Iraq inaugurated a new offshore oil export terminal in the Persian Gulf on Sunday in a vital step to ease infrastructure constraints and to bring sorely needed cash for reconstruction after decades of war and international sanctions.

Bulls will not be tamed by weak profits (Reuters)

Posted: February 12th, 2012, 11:16am EST

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Reuters - Despite a mediocre earnings season and signs of an overbought market, Wall Street bulls are likely to remain in control this week.

Swiss lobby group open to self-declaration on taxes (Reuters)

Posted: February 12th, 2012, 9:34am EST

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Reuters - The head of a leading Swiss business lobby group said on Sunday he was open to a requirement that banks ask clients to declare their money is taxed, but said that asking for proof is a step too far.

Airlines urge U.N. deal to avert carbon trade war (Reuters)

Posted: February 12th, 2012, 8:36am EST

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Reuters - Global airlines called on Sunday for a U.N.-brokered deal to prevent a row over aviation emissions between China and the European Union spilling into a damaging trade war.

Schaeuble warns Greek promises no longer suffice (Reuters)

Posted: February 12th, 2012, 3:32am EST

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Reuters - Greek promises on austerity measures are no longer good enough because so many vows have been broken and the country that has been a "bottomless pit" has to dramatically change its ways, German Finance Minister Wolfgang Schaeuble said.

Over 100,000 rally in Lisbon against austerity (Reuters)

Posted: February 11th, 2012, 2:37pm EST

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Reuters - More than 100,000 people packed Lisbon's vast Palace Square on Saturday in the largest rally against austerity and economic hardships since the country resorted to an EU/IMF bailout last May, and organizers vowed to step up protests and labor action.

SEC looks into private equity industry practices: WSJ (Reuters)

Posted: February 11th, 2012, 2:27pm EST

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Reuters - The Securities and Exchange Commission has launched an inquiry into how the private equity industry values its investments, how those investments are marketed, and other practices, the Wall Street Journal reported on Saturday.

Oil spill fouls river in eastern Venezuela (AP)

Posted: February 11th, 2012, 10:14am EST

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AP - Crude oil that spilled from a ruptured pipeline has blackened a river in eastern Venezuela, and the state oil company said workers are containing the spill.

Greece warns bailout rebels of unknown, dangerous path (Reuters)

Posted: February 11th, 2012, 8:06am EST

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Reuters - Greek leaders told a growing band of rebellious lawmakers Saturday to back a deeply unpopular EU/IMF rescue in parliament or send the nation down "an unknown, dangerous path" to default, international economic isolation and a deeply devalued drachma.

Climax nears in Greek drama (Reuters)

Posted: February 11th, 2012, 7:38am EST

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Reuters - Tortuous negotiations over a second bailout for Greece are set to come to a head on Wednesday, putting fragile market confidence to the test on the same day data is tipped to show the euro zone is entering a mild recession.

Hungarian government lawmaker sees IMF deal by May: report (Reuters)

Posted: February 11th, 2012, 7:35am EST

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Reuters - Hungary can realistically start formal talks with the European Union and the IMF about a vital funding deal in early March and an agreement can be reached by the middle of the second quarter, a ruling Fidesz party lawmaker said on Saturday.

Greece's coalition party leaders back bailout deal (AP)

Posted: February 11th, 2012, 7:28am EST

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AP - In a televised address, Greece's prime minister defended austerity measures Saturday that include painful wage and pension cuts but would ensure the country receives a euro130 billion ($170 billion) bailout deal and stave off bankruptcy.

Obama urges extension of payroll tax cut (AP)

Posted: February 11th, 2012, 6:05am EST

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AP - President Barack Obama is pressuring Congress to extend a payroll tax cut for the rest of the year as another deadline nears for Congress to act or see taxes go up for millions of working people.

Nigerian president's state votes amid tight security (Reuters)

Posted: February 11th, 2012, 5:45am EST

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Reuters - Nigerians voted amid tight security in a governorship election on Saturday in President Goodluck Jonathan's restive and oil-rich home state of Bayelsa, where last week militants attacked a major oil pipeline.

Exclusive: Walnut growers seek to stop sales to Diamond (Reuters)

Posted: February 10th, 2012, 11:03pm EST

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Reuters - Some California farmers plan to stop selling their walnuts to Diamond Foods Inc in the wake of an accounting scandal over grower payments that has claimed the jobs of the snack company's chief executive and chief financial officer.

Netflix settlement trims 14 pct off 4Q earnings (AP)

Posted: February 10th, 2012, 8:14pm EST

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AP - Netflix pressed the rewind button on its fourth-quarter earnings after settling allegations that the video subscription service violated a consumer-privacy law.

Italy doesn't need firewalls, Europe does: Monti (Reuters)

Posted: February 10th, 2012, 7:39pm EST

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Reuters - Italian Prime Minister Mario Monti said Rome will not need bailout funds to overcome its debt crisis, but he reiterated that Europe should build large financial firewalls to "impress the market and take the perception of risk away."

Summary Box: Stocks fall as Greek deal is held up (AP)

Posted: February 10th, 2012, 5:56pm EST

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AP - BAILOUT BLUES: U.S. stocks took their biggest slide so far this year on news that European countries that share the euro with Greece want it to make deeper spending cuts in exchange for bailout money. Stocks had risen just a day before on hopes the bailout was imminent.

NHTSA: BMW fined $3M for untimely 2010 recalls (AP)

Posted: February 10th, 2012, 5:44pm EST

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AP - German automaker BMW has agreed to pay $3 million for delays in reporting safety defects and recalls to the federal regulators, the National Highway Traffic Safety Administration said Friday.

A look at economic developments around the globe (AP)

Posted: February 10th, 2012, 5:26pm EST

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AP - A look at economic developments and activity in major stock markets around the world Friday:

Gov't on pace for $1T deficit despite January dip (AP)

Posted: February 10th, 2012, 5:21pm EST

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AP - The federal deficit was lower through the first four months of the budget year than the same period last year. Still, the deficit is expected to top $1 trillion for the fourth year in a row, putting more pressure on Congress and President Barack Obama in an election year.

Boy Saves Grandma's House, Makes Happy News (ContributorNetwork)

Posted: February 10th, 2012, 4:20pm EST

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ContributorNetwork - According to The Week, a 12-year-old boy in Wisconsin has saved his grandmother's house from foreclosure. A youth with a history of community service, Noah Lamaide created a website to highlight his projects. In January, he edited his site to highlight the plight of his grandmother, who fell behind on mortgage payments after medical complications. Donations poured in, saving the home.

Anxiety over incomes hits consumer morale (Reuters)

Posted: February 10th, 2012, 2:10pm EST

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Reuters - Americans felt worse about their personal finances in early February, but rising confidence in the labor market's prospects should help to support spending and the broader economy.

The Foreclosure Deal: Obama and the Banks Win Big While Homeowners See Modest Reward (Time.com)

Posted: February 10th, 2012, 1:45pm EST

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Time.com - Overall, it's a clear win for Obama and Democrats, a qualified win for the banks, and a minor, belated victory for homeowners

Housing a "significant headwind" to recovery: Fed's Pianalto (Reuters)

Posted: February 10th, 2012, 1:34pm EST

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Reuters - The housing market is holding back the broader economic recovery now that foreclosures have become "a national crisis," a top Federal Reserve official said on Friday.

Exclusive: Future of bank benchmark rate under review (Reuters)

Posted: February 10th, 2012, 1:25pm EST

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Reuters - A global probe into whether banks colluded to set the interest rates at which they borrow money from each other has thrown into question the future of the benchmark they use to price financial products worth an estimated $360 trillion.

Greek deal uncertainty slams global markets (AP)

Posted: February 10th, 2012, 10:32am EST

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AP - Stock markets and the euro fell sharply Friday after Greece's crucial bailout was put on hold by its partners in the 17-nation eurozone and the leader of a small partner in the country's coalition government said he would vote against the demanded austerity measures.

Turbo-traders take Bank of America for a ride (AP)

Posted: February 10th, 2012, 8:41am EST

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$FILE - In this Tuesday, Aug. 23, 2011 file photo, Bank of America Merrill Lynch traders work on the floor of the New York Stock Exchange in New York. There are fewer and fewer traders on the NYSE floor because of the dominance of computer trading of securities - including the high-frequency trading that can take advantage of price changes in a millisecond. Bank of America is the stock of the moment for high-frequency trading; investors use computer algorithms to exploit small changes in a stock's price. If a computer can seize on a stock like Bank of America a fraction of a second faster than the rest of the market, it can book a tiny profit. (AP Photo/Henny Ray Abrams)$ AP - On a normal day, 4 billion shares of stock change hands on the New York Stock Exchange. One in 10 belongs to a single company. It's not McDonald's or IBM, both of which have been on a tear.

Analysis: Beyond Chinese New Year data skew, a bear lurks (Reuters)

Posted: February 10th, 2012, 3:02am EST

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Reuters - Trying to track China's economic course during the Lunar New Year can leave analysts howling at the moon. January auto sales tumbled, yet oil imports were the third highest on record. A measure of factory activity picked up, but trade data was weak.

Investment banking drags down Barclays Q4 profit (Reuters)

Posted: February 10th, 2012, 2:45am EST

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Reuters - Barclays' key investment bank arm ended 2011 with its worst quarter for three years as the euro zone debt crisis hit bond trading, dragging the British bank's annual profit down on the year before.

Investors cautious as lenders seek more steps after Greece deal (Reuters)

Posted: February 10th, 2012, 2:17am EST

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Reuters - The euro and shares pulled back on Friday as investors remained concerned about Greece's commitment to debt restructuring, even after it struck a long-awaited deal on fiscal reforms to secure crucial funding.

China imports slump, raising demand concerns (Reuters)

Posted: February 10th, 2012, 2:12am EST

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Reuters - China's trade in January fell the most since the depths of the financial crisis, raising concerns Lunar New Year factory shutdowns do not fully explain a slump in imports and may instead be evidence of a further faltering in demand.

Exclusive: Alibaba plans to take Hong Kong unit private (Reuters)

Posted: February 10th, 2012, 12:27am EST

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Reuters - Chinese e-commerce company Alibaba Group plans to take its Hong Kong-listed unit private, two sources familiar with the matter said, and is working with Yahoo on an asset-swap deal that may result in Yahoo owning a direct stake in one of Alibaba Group's operating businesses.

For America's hard-hit homeowners, little relief from settlement (Reuters)

Posted: February 10th, 2012, 12:12am EST

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Reuters - Crystal Morello's family pleaded for months with their lender for a cheaper mortgage on their family home in Belleville, Michigan. But time ran out last summer, and they left before they were evicted.

$25B settlement reached over foreclosure abuses (AP)

Posted: February 10th, 2012, 12:09am EST

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AP - A landmark $25 billion settlement with the nation's top mortgage lenders was hailed by government officials Thursday as long-overdue relief for victims of foreclosure abuses. But consumer advocates countered that far too few people will benefit.

Euro ministers cold on deal to bail out Greece (AP)

Posted: February 9th, 2012, 8:35pm EST

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AP - Just hours after Greece gave in to painful new job and spending cuts, European ministers declared Thursday that Athens didn't go far enough and demanded more within a week in exchange for a euro130 billion ($170 billion) bailout to stave off bankruptcy.

IMF must help avoid Greek "explosion": Italy's Monti (Reuters)

Posted: February 9th, 2012, 7:33pm EST

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Reuters - Greece's debt crisis on Thursday dominated the first day of Italian Prime Minister Mario Monti's visit to the United States, as he urged the International Monetary Fund to be more lenient with Athens in bailout talks to prevent "a big potential explosion."

LinkedIn's 4Q revenue doubles, stock soars 8 pct (AP)

Posted: February 9th, 2012, 6:39pm EST

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AP - LinkedIn provided further evidence of online networking's popularity and moneymaking potential with a fourth-quarter performance that got a glowing review on Wall Street.

GOP threatens huge cuts to unemployment insurance (The Christian Science Monitor)

Posted: February 9th, 2012, 6:07pm EST

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The Christian Science Monitor - A Democratic bid for a breakthrough on payroll-tax negotiations fell flat on Thursday, as Congress closes in on a Feb. 29 deadline with few signs of progress.

Summary Box: Holiday hits China Jan. auto sales (AP)

Posted: February 9th, 2012, 3:56pm EST

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AP - SALES DRAGGIN': Car sales in the world's biggest auto market fell 24 percent in January from a year earlier. The China Association of Automobile Manufacturers said that 1.16 million passenger cars were sold in January, down from a monthly record 1.5 million a year earlier.

182 Members of Congress Call for More Offshore Oil Opportunities (ContributorNetwork)

Posted: February 9th, 2012, 2:42pm EST

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ContributorNetwork - On Tuesday, 182 members of the House of Representatives sent a bipartisan letter to Interior Secretary Ken Salazar calling for new access to offshore energy production. Here are the details.

Summary Box: Tax changes send Diageo profit down (AP)

Posted: February 9th, 2012, 2:24pm EST

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AP - TAX NIP: A one-time tax hit sent profits at drinks company Diageo PLC's down 20 percent in the last six months of 2011, despite rising income following a strong performance in emerging markets.

Two Ford execs retiring, Mulally staying (Reuters)

Posted: February 9th, 2012, 1:56pm EST

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Reuters - Two top Ford Motor Co executives who helped steer the U.S. automaker through the financial crisis will retire by April 1, thinning the ranks of likely candidates to replace Chief Executive Alan Mulally in coming years.

'Shadow Inventory' Is Killing the Housing Market (Time.com)

Posted: February 9th, 2012, 1:50pm EST

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Time.com - One factor hurting the prices of homes that are for sale is the enormous number of homes that aren't for sale but that should be

Natural gas price up on production cuts (AP)

Posted: February 9th, 2012, 1:34pm EST

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AP - The price of natural gas jumped Thursday after a major producer said it is aggressively cutting production.

Summary Box: Mercedes helps Daimler 4q profit rise (AP)

Posted: February 9th, 2012, 1:25pm EST

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AP - CHINA CONNECTION: Strong sales of Mercedes luxury cars in China and the U.S. helped German automaker Daimler AG post a stronger than expected 57 percent increase in fourth quarter profits. The company made net profit of euro1.78 billion ($2.36 billion), ahead of the average forecast compiled by FactSet of euro1.30 billion.

IRS to business owners: Did you file your 1099s? (AP)

Posted: February 9th, 2012, 1:21pm EST

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AP - Business owners will find two new questions on their income tax forms this year:

MF Global judge to examine insurance for ex-execs (Reuters)

Posted: February 9th, 2012, 12:23pm EST

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Reuters - The U.S. judge overseeing MF Global's bankruptcy plans a closer review before deciding whether any of an estimated $190 million of insurance coverage for former company executives should instead go to customers.

White House lowers "stale" jobless forecast (Reuters)

Posted: February 9th, 2012, 11:25am EST

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Reuters - President Barack Obama will forecast a U.S. unemployment rate averaging 8.9 percent in 2012 in his annual budget on Monday - but before the document was even released a top aide called the projection "stale" and said it should be lower.

German Bundestag parties to meet on Greece Friday (Reuters)

Posted: February 9th, 2012, 11:23am EST

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Reuters - German Chancellor Angela Merkel will meet with parliamentary floor leaders on Friday to discuss Greece's bailout after euro zone ministers meet in Brussels later on Thursday, parliamentary sources said.

Stock futures turn up on report of Greek deal (Reuters)

Posted: February 9th, 2012, 8:26am EST

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Reuters - Stocks edged higher on Thursday after Greece reached a deal to secure a financial bailout, but investors took a wait-and-see attitude in a market that has become extended after weeks of gains.

Pepsico to cut 8,700 jobs; 4Q net rises (AP)

Posted: February 9th, 2012, 8:23am EST

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AP - PepsiCo plans to cut 8,700 jobs, or about 3 percent of its workforce, as it seeks to offset high commodity costs and increases investment in advertising and marketing in North America.

Bank of England pumps more cash into economy to support recovery (Reuters)

Posted: February 9th, 2012, 8:16am EST

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Reuters - The Bank of England voted to inject more cash into the economy to shore up a fragile recovery and shield the country from fallout from the unresolved euro zone debt crisis.

PepsiCo to cut 8,700 jobs, invest in brands (Reuters)

Posted: February 9th, 2012, 8:05am EST

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Reuters - PepsiCo Inc expects to cut 8,700 jobs as part of a plan to save an extra $1.5 billion over the next three years, as it pours more money into its brands.

PepsiCo to cut 8,700 jobs, invest in brands (Reuters)

Posted: February 9th, 2012, 8:05am EST

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Reuters - PepsiCo Inc expects to cut 8,700 jobs as part of a plan to save an extra $1.5 billion over the next three years, as it pours more money into its brands.

Big media buy back shares with cable TV cash (Reuters)

Posted: February 9th, 2012, 8:03am EST

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Reuters - Big U.S. media companies bought back record amounts of their own shares in the last year, with cash generated by cable television networks that drew strong viewership and advertising dollars despite the economic uncertainty.

ECB leaves key rate unchanged at 1 pct (AP)

Posted: February 9th, 2012, 7:54am EST

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AP - The European Central Bank left its benchmark interest rate unchanged at a record low 1 percent on Thursday while it waits to see whether the economy needs more help as the 17 countries that use the euro struggle with a debt crisis and likely recession.

Source: NY, California to sign mortgage settlement (AP)

Posted: February 9th, 2012, 7:43am EST

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AP - New York and California have agreed to sign the proposed settlement between U.S. states and the nation's biggest mortgage lenders over foreclosure abuses, according to a source close to the negotiations.

Mercedes helps Daimler to 57 pct Q4 profit rise (AP)

Posted: February 9th, 2012, 7:21am EST

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AP - Strong sales of Mercedes luxury cars in China and the United States helped German automaker Daimler AG post a stronger than expected 57 percent increase in fourth quarter profits.

Greek unions call two-day strike, protests (AP)

Posted: February 9th, 2012, 4:57am EST

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AP - Not long after Greece made the politically unpopular decision to slash government spending to ease its debt crisis, Germany's finance minister questioned whether the deal goes far enough to earn approval of a crucial euro130 billion bailout.

Euro, shares gain on Greek deal hopes (Reuters)

Posted: February 9th, 2012, 4:57am EST

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Reuters - European stock markets and the euro extended two months of gains on Thursday as Greece edged closer to a bailout deal and investors bet a brace of central bank meetings would offer further support for the move into riskier assets.

Tax changes send Diageo H1 profit down 20 pct (AP)

Posted: February 9th, 2012, 4:57am EST

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AP - A one-time tax hit sent profits at drinks company Diageo PLC's down 20 percent in the last six months of 2011, despite rising income following a strong performance in emerging markets.

Credit Suisse slumps to Q4 loss (Reuters)

Posted: February 9th, 2012, 4:23am EST

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Reuters - Credit Suisse posted a surprise fourth-quarter net loss after taking almost 1 billion Swiss francs ($1.1 billion) of charges to speed cost cutting and offload risky assets to meet stiffer capital rules.

Holiday hits China auto sales in January (AP)

Posted: February 9th, 2012, 4:16am EST

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AP - The year of the dragon rolled in with a whimper instead of a roar for China's auto industry. Car sales in the world's biggest auto market fell 24 percent in January from a year earlier, industry figures show.

ECB to face Greece questions, hold rates (Reuters)

Posted: February 9th, 2012, 3:52am EST

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Reuters - The European Central Bank left interest rates unchanged on Thursday and financial markets' attention will now shift to whether the bank is ready to help Greece avoid a messy default.

Greek minister heads to Brussels with incomplete bailout deal (Reuters)

Posted: February 9th, 2012, 3:43am EST

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Reuters - Greek political leaders clinched a long-stalled deal on Thursday on harsh austerity measures and reforms required to secure a second international bailout in two years but the country's financial backers reacted skeptically.

CA-CANADA Summary (Reuters)

Posted: February 9th, 2012, 1:55am EST

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Reuters - Global financial uncertainty and slowing job creation made Canadians feel less optimistic about the economy last month, according to a Royal Bank of Canada survey. Less than a third - 32 percent - of Canadians felt positive about the outlook for the economy over the next year, down from 43 percent in January 2011, and from the 56 percent who were positive two years ago, the poll showed.

'Shadow Inventory' Is Killing the Housing Market (Time.com)

Posted: February 9th, 2012, 1:10am EST

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Time.com - One factor hurting the prices of homes that are for sale is the enormous number of homes that aren't for sale but that should be

China inflation spike pricks policy easing expectations (Reuters)

Posted: February 9th, 2012, 12:12am EST

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Reuters - China's annual inflation spiked to a consensus-busting 4.5 percent in January as spending jumped during the Chinese Lunar New Year holiday season, breaking a five-month softening trend and forcing a market rethink of policy easing expectations.

Mortgage deal nears as holdout states join (Reuters)

Posted: February 8th, 2012, 8:32pm EST

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Reuters - The biggest U.S. banks will provide about $25 billion in relief to distressed homeowners, as state and federal officials hold lenders responsible for taking illegal shortcuts during foreclosures and for other deceptive practices.

Pennsylvania's New Budget Calls for Cutting Higher Education -- Again (ContributorNetwork)

Posted: February 8th, 2012, 7:08pm EST

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ContributorNetwork - Pennsylvania Gov. Tom Corbett unveiled his second budget as the leader of the Keystone State this week, according to the Pittsburgh Post-Gazette. As expected by many, the 2012 budget closely resembled the 2011 budget featuring cuts in a number of key areas, but true to the governor's campaign promise of not raising taxes, as the report indicates.

Housing regulator acted on "ideology": lawmakers (Reuters)

Posted: February 8th, 2012, 6:58pm EST

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Reuters - Two Democratic lawmakers on Wednesday accused the regulator of Fannie Mae and Freddie Mac from blocking the firms from reducing principal on the mortgages they back for reasons of "ideology."

Ex-Motorola engineer guilty of stealing trade secrets (Reuters)

Posted: February 8th, 2012, 6:05pm EST

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Reuters - A former engineer at Motorola Inc who was stopped at O'Hare International Airport carrying more than 1,000 of the company's proprietary documents was found guilty of stealing trade secrets on Wednesday but cleared of engaging in economic espionage for China.

Copper hits high for year on demand expectations (AP)

Posted: February 8th, 2012, 4:06pm EST

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AP - Copper prices hit their highest level in five months Wednesday on expectations that demand may pick up after China announced a plan to stimulate private sector growth.

CVS Caremark 4Q profit rises, 2012 outlook climbs (AP)

Posted: February 8th, 2012, 1:12pm EST

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AP - Drugstore chain Walgreen's loss of a big client is turning into rival CVS Caremark's gain so far this year.

Greek party leaders begin crucial debt talks (AP)

Posted: February 8th, 2012, 12:35pm EST

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AP - After three days of delays, Greek coalition leaders began crucial debt talks Wednesday with the prime minister to review a draft deal on steep cutbacks demanded by creditors in return for a euro130 billion ($170 billion) bailout.

Sprint loss widens on iPhone costs (Reuters)

Posted: February 8th, 2012, 12:28pm EST

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Reuters - Sprint Nextel posted a wider quarterly loss because of the higher costs of selling Apple Inc's iPhone and the popular device delivered a smaller-than-expected boost to subscriber numbers, sending the company's shares down 2 percent.

Deutsche Bank to defer some bonuses - source (Reuters)

Posted: February 8th, 2012, 12:02pm EST

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Reuters - Germany's Deutsche Bank (DBKGn.DE) will defer any part of an employee's bonus above 200,000 euros ($264,800) this year, a source close to the bank said, making it the latest industry player to limit pay in the face of fierce criticism of the industry.

Greek debt not sustainable with 70 percent haircut: S&P (Reuters)

Posted: February 8th, 2012, 11:52am EST

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Reuters - Greece will likely not achieve sustainable debt levels with a 70 percent reduction in the value of bonds held by its private creditors, Standard & Poor's warned on Wednesday, putting pressure on the official sector also to take losses.

ECB still split on joining Greece debt deal: sources (Reuters)

Posted: February 8th, 2012, 11:19am EST

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Reuters - European Central Bank policymakers are still divided on what contribution the ECB could make to a restructuring of Greece's sovereign debt, two euro zone monetary policy sources said on Wednesday.

Greece's broken promises anger EU partners (Reuters)

Posted: February 8th, 2012, 11:11am EST

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Reuters - Taxes go uncollected, deficit targets are routinely missed, job cuts from the state payroll are postponed, privatizations have barely begun and pharmacies still shut in the middle of the day.

Coinstar's Spectacular Quarter Makes It Worth Your Dollars (The Motley Fool)

Posted: February 8th, 2012, 10:30am EST

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The Motley Fool - Automated retail solutions provider Coinstar (Nasdaq: CSTR - News) beat Street estimates handsomely in the fourth quarter, and saw its shares spike 13% in extended trading.

Airbus A380 wing checks extended: sources (Reuters)

Posted: February 8th, 2012, 6:48am EST

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Reuters - European air safety officials are preparing to extend checks for Airbus A380 wing cracks to the entire superjumbo fleet, sources close to the matter told Reuters on Wednesday.

Nissan sees annual profits beating Toyota, Honda (Reuters)

Posted: February 8th, 2012, 6:43am EST

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Reuters - Nissan Motor Co is on track to be the most profitable of Japan's three big automakers this year, after record car sales last year and improved market share in every major region pushed up quarterly operating profit.

Nokia to end phone assembly in Europe (AP)

Posted: February 8th, 2012, 6:30am EST

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AP - Nokia Corp. said Wednesday it will end the assembly of cellphones in Europe by year-end as it shifts production to Asia in its latest attempt to cushion its finances from stiff competition in the smartphone sector.

Higher speeds, hired guns drive Somali piracy cost (Reuters)

Posted: February 8th, 2012, 6:08am EST

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Reuters - Somali piracy in the Indian Ocean costs the global economy some $7 billion a year, a study said on Wednesday, with ships forced to travel faster over longer routes and increasingly hire armed security guards.

Spanish writedown costs Scandinavia's SAS dear (AP)

Posted: February 8th, 2012, 5:45am EST

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AP - The Scandinavian airline group SAS recorded a loss of 1.7 billion kronor ($250 million) in 2011 after taking a big writedown following the bankruptcy of Spanish budget carrier Spanair.

Statoil earnings surge on higher oil, gas prices (AP)

Posted: February 8th, 2012, 5:09am EST

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AP - Norwegian oil company Statoil ASA on Wednesday said its profits soared in the fourth quarter on higher oil and gas prices and a one-time gain from the sale of a stake in a gas transportation company.

Stock futures signal higher Wall Street open (Reuters)

Posted: February 8th, 2012, 4:40am EST

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Reuters - Stocks gave up early gains on Wednesday as the Dow hovered at its highest level in nearly four years and investors waited for Greece to accept tough reforms in exchange for a new bailout.

Japan to slash use of a heavy rare earth as China tightens grip (Reuters)

Posted: February 8th, 2012, 4:35am EST

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Reuters - Japan aims to cut domestic consumption of a heavy rare earth used widely in hybrid cars and electronics by 30 percent over the next two years as China keeps a tight grip on exports of the material, known as dysprosium.

Defense relentless in questioning ex-Stanford exec (AP)

Posted: February 8th, 2012, 3:06am EST

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AP - Liar. Hypocrite. Adulterer. Fraudster. Coward.

Asian shares gain, euro steadies as Greek talks in (Reuters)

Posted: February 8th, 2012, 1:16am EST

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Reuters - Asian shares hit their highest level in more than five months on Wednesday and the euro hovered close to an 8-week high as investors kept hopes alive for an agreement on details of a new Greek bailout package despite further delays.

Oil rises to near $99 after US crude supply drop (AP)

Posted: February 7th, 2012, 9:58pm EST

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AP - Oil prices are slightly higher Wednesday following government reports that U.S. supplies didn't grow as much as expected last week.

SEC's Gallagher wants more oversight of brokers (Reuters)

Posted: February 7th, 2012, 8:52pm EST

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Reuters - Congress made a mistake when it stripped away most of the Securities and Exchange Commission's authority to police the holding companies of broker-dealers for risks, according to the SEC's newest commissioner.

Yahoo chairman exits, review drags on (Reuters)

Posted: February 7th, 2012, 8:23pm EST

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Reuters - Yahoo Inc Chairman Roy Bostock and three other directors will step down as the struggling company ploughs ahead with an internal overhaul, including discussions on dealing with its stakes in China's Alibaba Group and Yahoo Japan.

Greeks seek elusive bailout deal as EU tempers fray (Reuters)

Posted: February 7th, 2012, 7:53pm EST

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Reuters - Greek party leaders finally gathered on Wednesday to agree a reform deal in return for a new EU/IMF rescue to avoid a chaotic default, after repeated delays which have prompted warnings that the euro can live without Athens.

Eyes on dissident states as mortgage deal nears (Reuters)

Posted: February 7th, 2012, 7:44pm EST

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Reuters - A broad settlement with major banks over mortgage servicing abuses that would bring relief to distressed U.S. homeowners could be announced as early Thursday, two people familiar with the matter said.

AP Enterprise: Brown bank regulator an insider (AP)

Posted: February 7th, 2012, 7:41pm EST

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AP - Gov. Jerry Brown's appointee to head the department that oversees banking, financial and consumer regulations in California led a trade association that fought against tighter lending restrictions before the subprime mortgage crisis exploded and was an executive with Washington Mutual when the now-failed bank was among the most aggressive marketers of loans to high-risk borrowers.

No cigar: Economic embargo on Cuba turns 50 (AP)

Posted: February 7th, 2012, 7:32pm EST

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AP - When it started, American teenagers were doing "The Twist." The United States had yet to put a man into orbit around the Earth. And a first-class U.S. postage stamp cost 4 cents.

RI judge denies Richard Hatch $25 IRS payment bid (AP)

Posted: February 7th, 2012, 7:12pm EST

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AP - A request by reality television star Richard Hatch to give the Internal Revenue Service a reduced payment of $25 for January in his tax evasion case has been denied by a Rhode Island judge.

Disney 1Q revenue misses estimates but profits up (AP)

Posted: February 7th, 2012, 6:58pm EST

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AP - The Walt Disney Co. said Tuesday that its net income rose 12 percent in the final quarter of 2011, as a slimmer movie slate and upbeat theme park results helped the company top earnings forecasts even while revenue gains were less than expected.

Chrysler, Clint Eastwood Say Super Bowl Ad Isn't Political (ContributorNetwork)

Posted: February 7th, 2012, 6:24pm EST

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ContributorNetwork - Chrysler Group CEO Sergio Marchionne defended the auto company's "It's Halftime in America" commercial during the Super Bowl featuring Clint Eastwood talking up Detroit. The ad slot stirred up debate for being a political statement, but Marchionne says it wasn't that, MLive reports. Here are details about Chrysler's ad.

Spanish banks set aside billions for toxic assets (AP)

Posted: February 7th, 2012, 3:57pm EST

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AP - Spain's three top banks said Tuesday they will set aside an additional euro6.1 billion ($8 billion) to meet a new government demand for all banks to boost their buffers against troubled real estate assets.

SEC weighs two money market fund proposals (Reuters)

Posted: February 7th, 2012, 3:02pm EST

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Reuters - The chairman of the Securities and Exchange Commission is eyeing two potential plans to bolster the stability of money market funds, but their fate remains uncertain due to internal disagreement at the SEC over the need for more regulations.

Bernanke repeats vow to shield U.S. from Europe fallout (Reuters)

Posted: February 7th, 2012, 2:42pm EST

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Reuters - Federal Reserve Chairman Ben Bernanke on Tuesday renewed a pledge to prevent Europe's financial crisis from damaging the U.S. economy in testimony before Congress that mirrored remarks he made last week.

Analysis: Banks largely reserved for U.S. mortgage pact cost (Reuters)

Posted: February 7th, 2012, 2:32pm EST

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Reuters - As the nation's five largest mortgage lenders edge close to a $25 billion settlement over foreclosure abuses, it's becoming clear that the deal will have little or no impact on their future bottom lines.

Global watchdog official says banking reforms must proceed (Reuters)

Posted: February 7th, 2012, 10:15am EST

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Reuters - The underperforming global economy should not be allowed to delay financial system reforms, a senior official at the Financial Stability Board (FSB), a global watchdog set up by the Group of 20 nations, said on Tuesday, adding that the FSB will propose new rules on so-called shadow banking by year-end.

GlaxoSmithKline back in profit in 4th quarter (AP)

Posted: February 7th, 2012, 8:36am EST

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AP - Restructuring and reduced overheads helped GlaxoSmithKline PLC return to profit in the fourth quarter, with the UK drug maker adding that the U.K. drug maker was optimistic about new product development this year.

Coca-Cola beats Street, eyes cost savings (Reuters)

Posted: February 7th, 2012, 8:28am EST

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Reuters - Coca-Cola Co reported better-than-expected quarterly results and announced a new cost-savings program on Tuesday, helping to send shares in the world's top soft-drink maker up 1.3 percent in premarket trading.

Greek leaders face crunch talks as unions strike (Reuters)

Posted: February 7th, 2012, 8:20am EST

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Reuters - Greek party leaders face crunch talks on Tuesday to secure a new international bailout and avoid a chaotic debt default, caught between EU demands that they accept painful reforms now and a national strike against more austerity.

Fidelity money fund clients react negatively to SEC proposals (Reuters)

Posted: February 7th, 2012, 8:14am EST

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Reuters - Adding to the outcry against new rules for money-market funds, Fidelity Investments has warned regulators that more than half of its money-fund clients would move some or all of their assets out of the investments if the net asset value of the funds were allowed to fluctuate.

Futures fall with eyes on Greece talks (Reuters)

Posted: February 7th, 2012, 8:02am EST

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Reuters - Stock index futures fell on Tuesday, indicating equities may fall for a second straight session, as talks to secure a new bailout for Greece and avoid an unruly default had yet to bear fruit.

Glencore-Xstrata deal meets shareholder opposition (Reuters)

Posted: February 7th, 2012, 7:58am EST

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Reuters - At least two top 10 shareholders in miner Xstrata said Tuesday they would vote against a takeover by commodities trader Glencore, threatening the creation of a powerhouse spanning mining, agriculture and trading.

Greek party leaders seek deal as bankruptcy looms (AP)

Posted: February 7th, 2012, 7:54am EST

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AP - Greece's private creditors signaled progress late Tuesday on a debt-relief deal but crucial talks between Greek coalition leaders about forcing more austerity upon a hostile public were again postponed.

Toyota lifts profit forecast as disaster woes fade (AP)

Posted: February 7th, 2012, 7:48am EST

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AP - Toyota's quarterly profit slid 13.5 percent on production setbacks caused by last year's tsunami disaster and the flooding in Thailand, but Japan's top automaker raised its annual earnings forecast, saying a recovery is on track.

Watchdogs to drag shadow banks into the light (Reuters)

Posted: February 7th, 2012, 7:43am EST

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Reuters - Beyond the reach of regulators, and about half the size of the world's banking industry, a thriving breed of "shadow banks" is emerging that could trigger the next chapter in the global financial crisis.

Key states move closer to foreclosure-abuse deal (AP)

Posted: February 7th, 2012, 7:03am EST

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AP - California and New York, the key holdouts in a long-awaited settlement over foreclosure abuses, moved closer Monday to backing a deal that would force the five largest mortgage lenders to reduce loans for about 1 million households. More than 40 U.S. states have agreed to a nationwide settlement.

Walmart names ex-Woolworths veteran as new China CEO (Reuters)

Posted: February 7th, 2012, 6:40am EST

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Reuters - Wal-Mart Stores Inc has named an industry veteran, but a relative newcomer to China, to run what is a strategically crucial business for the world's biggest retailer as it faces tougher competition in the fastest growing major economy.

BP preparing "vigorously" for oil spill lawsuits (Reuters)

Posted: February 7th, 2012, 6:19am EST

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Reuters - BP said it was preparing "vigorously" for lawsuits related to its Gulf of Mexico oil spill, which are due to start later this month, as it unveiled a rise in fourth-quarter earnings boosted by higher oil prices and one-off gains.

AP Enterprise: Brown bank regulator an insider (AP)

Posted: February 7th, 2012, 3:38am EST

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AP - Gov. Jerry Brown's appointee to head the department that oversees banking, financial and consumer regulations in California led a trade association that fought against tighter lending restrictions before the subprime mortgage crisis exploded and was an executive with Washington Mutual when the now-failed bank was among the most aggressive marketers of loans to high-risk borrowers.

Stock gains turn hedge fund losers into winners (Reuters)

Posted: February 6th, 2012, 8:22pm EST

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Reuters - Last year's hedge fund losers may be turning into winners again.

'Halftime in America' ad creates political debate (AP)

Posted: February 6th, 2012, 7:31pm EST

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AP - People rarely pick a fight with Dirty Harry. But Chrysler's "Halftime in America" ad featuring quintessential tough guy Clint Eastwood has generated fierce debate about whether it accurately portrays the country's most economically distressed city or amounts to a campaign ad for President Barack Obama and the auto bailouts.

The Worthless Junk the 1 Percent Waste Their Money On (ContributorNetwork)

Posted: February 6th, 2012, 4:38pm EST

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ContributorNetwork - COMMENTARY | Strictly speaking, the 1 percent -- people whose incomes put them above the other 99 percent of us, starting at about $340,000 a year as of 2009, according to IRS data -- don't actually spend much of their money.

Yum Brands posts 30 percent 4th-qtr profit rise (AP)

Posted: February 6th, 2012, 4:37pm EST

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AP - The owner of the Pizza Hut, Taco Bell and KFC chains says its fourth-quarter profit rose 30 percent, thanks to its fast-growing overseas operations and to a strong showing from Pizza Hut in the U.S.

Convicted NY fraudster sentenced in hit plot (AP)

Posted: February 6th, 2012, 4:26pm EST

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AP - Convicted of engineering a $100 million mortgage-fraud scheme, Aaron Hand was yearning for vengeance and stuck in prison, prosecutors said.

US oil prices fall below $97 (AP)

Posted: February 6th, 2012, 4:08pm EST

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AP - U.S. oil prices fell below $97 per barrel Monday as growing supplies offset moves by President Barack Obama and other Western leaders to make it tougher for Iran to sell crude. Here's how energy contracts traded.

IMF's Blanchard sees "very large" Greek haircut (Reuters)

Posted: February 6th, 2012, 3:56pm EST

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Reuters - The IMF's chief economist, Olivier Blanchard, said on Monday it looks like the 'haircut' on Greek private debt will be "very large" as negotiations between bondholders and the government drag on to cut Greece's debt burden.

MF Global shortfall worsened as bankruptcy neared (Reuters)

Posted: February 6th, 2012, 3:34pm EST

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Reuters - A shortfall in customer funds at MF Global Holdings' broker-dealer unit grew in the days before the company went bankrupt, as client money increasingly was used to pay for MF's daily activities, said the trustee liquidating the broker-dealer.

Skepticism grows around Medco/Express Scripts deal (Reuters)

Posted: February 6th, 2012, 2:54pm EST

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Reuters - Objections to Express Scripts' $29 billion plan to buy rival pharmacy benefits manager Medco Health Solutions are accumulating as U.S. antitrust regulators weigh whether they have enough evidence to stop the megamerger.

Anti-cuts protests push Romania PM out (Reuters)

Posted: February 6th, 2012, 2:52pm EST

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Reuters - Romanian Prime Minister Emil Boc resigned on Monday, joining a list of European leaders felled by fury at the kind of spending cuts that prompted weeks of mass protests in Bucharest against IMF-backed austerity.

Calif. and NY considering foreclosure-abuse deal (AP)

Posted: February 6th, 2012, 2:48pm EST

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AP - California and New York were considering Monday whether to join most other states in backing a long-awaited settlement with banks over foreclosure abuses. The deal would require the five largest mortgage lenders to reduce loans for about 1 million households.

Massachusetts gas prices edge up another 2 cents (AP)

Posted: February 6th, 2012, 11:53am EST

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AP - Massachusetts residents are paying two more cents a gallon at the gas pump, the seventh consecutive week of increases.

Hasbro 4Q net income down 1 percent (AP)

Posted: February 6th, 2012, 10:36am EST

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AP - It was a blue Christmas for Hasbro. The No. 2 toy maker said Monday that its fourth-quarter profit slipped 1 percent, pinched by softer-than-expected demand in the U.S. and Canada and slow sales of games and puzzles during the key holiday season.

Wall Street falls as Greece concerns weigh again (Reuters)

Posted: February 6th, 2012, 10:23am EST

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Reuters - Stocks closed slightly lower on Monday as lingering questions about Europe's debt crisis and corporate earnings overshadowed growing optimism about economic growth after a five-week rally.

Fidelity Nat'l to buy O'Charley's restaurant chain (AP)

Posted: February 6th, 2012, 10:20am EST

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AP - A title insurance and mortgage services company that already owns a stake in the Bakers Square restaurant chain is buying the restaurant operator O'Charley's Inc., the companies announced Monday.

Greeks delay bailout talks as Merkel demands action (Reuters)

Posted: February 6th, 2012, 10:11am EST

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Reuters - German Chancellor Angela Merkel told Greece on Monday to make up its mind fast on accepting the painful terms for a new EU/IMF bailout, but the country's political leaders responded by delaying their decision for yet another day.

Chrysler's "Halftime" ad: a roadmap for America? (Reuters)

Posted: February 6th, 2012, 10:07am EST

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Reuters - Is what is good for Chrysler good for America?

Analysis: Euro zone strugglers lack innovative knack (Reuters)

Posted: February 6th, 2012, 10:03am EST

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Reuters - To get an idea of the economic mountain euro zone strugglers Greece and Portugal have to climb, consider this: per million inhabitants, they each filed fewer than eight applications with the European Patent Office in 2010.

Greek coalition partners talks postponed for a day (AP)

Posted: February 6th, 2012, 9:28am EST

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AP - Greece's coalition government on Monday caved in to demands to cut civil service jobs, announcing 15,000 positions would go this year, amid mounting international pressure to agree on austerity measures needed to secure major new debt agreements.

Boeing to correct 787 Dreamliner fuselage issue (Reuters)

Posted: February 6th, 2012, 9:22am EST

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Reuters - Boeing has discovered a problem related to the aft fuselage of its 787 Dreamliner planes and is making repairs that will not affect production of the aircraft, the company said in an emailed statement on Sunday.

France, Germany want account for Greek debt funds (AP)

Posted: February 6th, 2012, 8:32am EST

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AP - France and Germany called Monday for the creation of a special account to ensure that billions of euros in bailout money for Greece goes directly to paying down debt, just as Greek politicians struggle to agree a fresh austerity plan that is being pushed for by international creditors.

China growth could halve if Europe crisis worsens: IMF (Reuters)

Posted: February 6th, 2012, 7:19am EST

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Reuters - China's annual economic growth could be cut nearly in half this year if Europe's debt crisis tips the world economy into a recession, putting pressure on Beijing to unveil "significant" fiscal stimulus, the International Monetary Fund said.

Chevron rig burns off Nigeria as damage hits shore (AP)

Posted: February 6th, 2012, 5:53am EST

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AP - As a fire at a Chevron Corp. gas rig off Nigeria's coast continues to burn, locals say they're seeing signs of its effects on the environment and the health of those living nearby.

Bangladeshi Investors Badly Hit by the Stock-Market Crash (Time.com)

Posted: February 6th, 2012, 4:05am EST

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Time.com - The dramatic rise and swift fall of Bangladesh's stock market is a cautionary tale for emerging-market investors oblivious to the perils of hasty deregulation and rapid capital inflows

Police raids highlight Italy's fight against tax evasion (Reuters)

Posted: February 6th, 2012, 3:10am EST

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Reuters - The two-man workshop close to the Vatican had been busy when tax police raided it last week, seizing about a million religious articles and souvenirs ranging from rosaries to images of Pope John Paul II.

Insight: Two firms flourish in frenzied MF Global aftermath (Reuters)

Posted: February 6th, 2012, 1:14am EST

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Reuters - The mad rush to move client money out of MF Global Inc. after its collapse left two firms with the bulk of customer accounts, while other brokerages emerged with only minor gains from the chaos of carving up a multibillion-dollar business.

Merger fails, but D.Boerse CEO says allies a must (Reuters)

Posted: February 5th, 2012, 5:24pm EST

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Reuters - D.Boerse CEO eyes new allies as NYSE deal crumbles Deutsche Boerse (DB1Gn.DE) does not believe it can survive in the long term without a new partner despite the collapse of its proposed $7.4 billion merger with NYSE Euronext , its chief executive told a German newspaper.

Europe's shadow darkens outlook (Reuters)

Posted: February 5th, 2012, 3:35pm EST

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Reuters - A renewed focus on Europe's banking and debt crisis may quickly sap the nascent optimism about global economic prospects that followed a remarkably solid U.S. January employment report.

With sparse data, focus returns to Europe (Reuters)

Posted: February 5th, 2012, 12:24pm EST

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Reuters - Europe will again be at the center of investors' focus this week as the U.S. earnings season passes the halfway mark and there is little on the economic calendar to give the market direction.

ET, the new alien scaring global markets (Reuters)

Posted: February 5th, 2012, 10:27am EST

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Reuters - The United States is coming to be seen as a global threat, acting unilaterally with aggressive new market rules that critics say will hurt U.S. firms, foreign banks, and international markets in one swoop.

Glencore, Xstrata hammering out final deal details (Reuters)

Posted: February 5th, 2012, 10:02am EST

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Reuters - Top executives at trader Glencore and miner Xstrata are hammering out the final details of an $80 billion tie-up to seal the industry's largest ever takeover, which could be announced as early as Tuesday.

Nigeria oil line on fire; militants claim attack (AP)

Posted: February 5th, 2012, 9:52am EST

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AP - An Eni SpA oil pipeline ruptured and caught fire as a militant group claimed responsibility for an attack in the region, their first alleged assault in months as its purported leader awaits trial on terrorism charges in South Africa.

Euro zone insists no Greek rescue without reforms (Reuters)

Posted: February 5th, 2012, 9:15am EST

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Reuters - Euro zone finance ministers told Greece it could not go ahead with an agreed deal to restructure privately held debt until it guaranteed to implement reforms to secure a second financing package from the euro zone and the IMF.

Iran raid likely to drag in U.S. and hurt global economy (Reuters)

Posted: February 5th, 2012, 4:43am EST

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Reuters - An Israeli raid on Iran's nuclear facilities would deliver a painful shock to the global economy, revive flagging Islamist militancy and possibly drag the United States into a regional war whether it backed its ally's attack or not.

Wen says China has stake in helping Europe (Reuters)

Posted: February 5th, 2012, 4:01am EST

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Reuters - China has a stake in helping euro zone countries get through their debt crisis, Chinese Premier Wen Jiabao said in comments published on Sunday, pointing to Europe's importance as a market and hinting at more possible support for beleaguered exporters.

Micron appoints Durcan CEO after Appleton's death (Reuters)

Posted: February 4th, 2012, 9:16pm EST

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Reuters - Memory chipmaker Micron Technology's board appointed company veteran Mark Durcan as chief executive a day after longtime Chairman and CEO Steve Appleton was killed in a plane crash.

Clock ticks on Greece's bailout deadline (Reuters)

Posted: February 4th, 2012, 7:56pm EST

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Reuters - Greece's prime minister scrambled Sunday to convince lenders and politicians to sign off on a 130 billion euro rescue, after his finance minister said just hours remained to clinch a deal to avoid a messy default.

Blast hits Egypt's gas pipeline to Israel (Reuters)

Posted: February 4th, 2012, 7:40pm EST

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Reuters - An explosion hit a gas pipeline running from Egypt to Israel Sunday, witnesses and state television reported.

Euro zone loses patience with Greece (Reuters)

Posted: February 4th, 2012, 6:38pm EST

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Reuters - Euro zone finance ministers told Greece on Saturday it could not go ahead with an agreed deal to restructure privately-held debt until it guaranteed it would implement reforms needed to secure a second financing package from the euro zone and the IMF.

Eurogroup's Juncker warns of possible Greece default (Reuters)

Posted: February 4th, 2012, 5:58pm EST

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Reuters - The possibility of a sovereign default by Greece cannot be ruled out, Jean-Claude Juncker, head of the Eurogroup of finance ministers from the single currency zone, said in a German magazine on Saturday.

GM says most US dealers agree to upgrades (AP)

Posted: February 4th, 2012, 3:56pm EST

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AP - General Motors Co. said Saturday that most of its 4,400 U.S. dealers have agreed to upgrade their showrooms over the next four years.

Greece says faces 24-hour deadline to clinch rescue (Reuters)

Posted: February 4th, 2012, 3:42pm EST

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Reuters - Greece has just one day left to strike a deal with impatient lenders and reluctant political party leaders on a 130 billion rescue plan before the country is pushed towards a chaotic default, its finance minister warned on Saturday.

Clinton: US, Europe must do more against tyrants (AP)

Posted: February 4th, 2012, 10:57am EST

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AP - The Obama administration on Saturday called for stepped up U.S.-European cooperation to isolate tyrannies like the Assad regime in Syria, promote democracy in the Arab World and beyond and repair damage from the global financial crisis.

Russia admits brief cut of gas supplies to Europe (AP)

Posted: February 4th, 2012, 9:25am EST

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AP - Russia's state-controlled Gazprom natural gas giant acknowledged for the first time Saturday that it had briefly reduced gas supplies to Europe amid a spell of extreme cold.

Palestinians call for PM's fall over taxes (AP)

Posted: February 4th, 2012, 7:27am EST

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AP - Hundreds of Palestinian protesters have called for their prime minister's resignation over recent tax and price increases.

Hungary seeks 15-20 billion euro IMF/EU credit line: official (Reuters)

Posted: February 4th, 2012, 7:19am EST

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Reuters - Hungary is seeking an international credit line of 15 to 20 billion ($20 to $26.3 billion) euros, the secretary of state heading the prime minister's office, Mihaly Varga, was quoted on Saturday as saying.

Report: Monti says Italy a "safe place" (AP)

Posted: February 4th, 2012, 4:22am EST

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AP - Italy is now a "safe place" amid market turbulence, Premier Mario Monti said in an interview published Saturday, pressing for Europe to turn its political energy to generating growth rather than further plans to strengthen budget discipline.

Romney focuses on Obama, Gingrich on Romney in NV (AP)

Posted: February 3rd, 2012, 6:35pm EST

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AP - A confident Mitt Romney accused President Barack Obama of failing to do enough to create jobs as he campaigned Friday ahead of GOP presidential caucuses this weekend in a state with sky-high unemployment and foreclosure rates. Newt Gingrich, who is fighting for a respectable showing here, rolled out a fresh line of criticism by comparing the former Massachusetts governor to Obama.

Oil prices rise after drop in US hiring expands (AP)

Posted: February 3rd, 2012, 3:56pm EST

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AP - A surge in U.S. hiring lifted oil prices for the first time in a week. As more Americans commute to work and the economy picks up, demand for energy is expected to rise.

Unemployment rate hinges on more than job gains (AP)

Posted: February 3rd, 2012, 3:50pm EST

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AP - For most people, the 8.3 percent unemployment rate is the most visible sign of the economy's health. The rate's every movement is closely watched, especially in an election year.

Canada, Alberta set up oil sands monitoring (Reuters)

Posted: February 3rd, 2012, 3:33pm EST

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Reuters - A new environmental monitoring plan for Canada's oil sands will boost water sampling and increase information available to the public as Ottawa and Alberta seek to fend off harsh international criticism following revelations that oversight has been insufficient.

Jobs numbers boost Obama, needs lasting trend (Reuters)

Posted: February 3rd, 2012, 2:57pm EST

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Reuters - An unexpectedly strong jobs report on Friday boosted President Barack Obama's re-election prospects, but the trend must last to deny his opponents the biggest cudgel they have to bash him before the November election.

Analysis: Stock-picking makes a comeback as macro tides fade (Reuters)

Posted: February 3rd, 2012, 2:44pm EST

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Reuters - Stock-picking once again matters on Wall Street.

Hackers attack Greek Justice Ministry website (AP)

Posted: February 3rd, 2012, 2:28pm EST

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AP - Hackers have attacked the Greek Justice Ministry website to protest the government's signing of a global copyright treaty and its handling of the financial crisis.

New York sues banks over electronic mortgage system (Reuters)

Posted: February 3rd, 2012, 1:28pm EST

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Reuters - New York State Attorney General Eric Schneiderman on Friday sued three major U.S. banks, accusing them of fraud for using an electronic mortgage database that resulted in deceptive and illegal practices.

Jobs strength lifts Nasdaq to 11-year high (Reuters)

Posted: February 3rd, 2012, 1:21pm EST

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Reuters - A surge in hiring in the world's largest economy last month drove stocks higher on Friday, with the Nasdaq hitting an 11-year high as optimism grew that the labor market is on a steady path to recovery.

NY's Schneiderman sues banks in foreclosure effort (AP)

Posted: February 3rd, 2012, 1:18pm EST

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AP - New York's attorney general on Friday accused some of the nation's largest banks of deceit and fraud in using an electronic mortgage registry that he said puts homeowners at a disadvantage in foreclosures.

Oil risks fuelling flames of Sudan conflict (Reuters)

Posted: February 3rd, 2012, 12:58pm EST

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Reuters - South Sudan's oil minister was riled when he discovered production from one of his remote oil fields was out by 40,000 barrels per day, and immediately knew who to blame.

Goldman to face mortgage debt class-action lawsuit (Reuters)

Posted: February 3rd, 2012, 12:37pm EST

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Reuters - Goldman Sachs Group Inc was ordered by a federal judge to face a securities class-action lawsuit accusing it of defrauding investors about a 2006 offering of securities backed by risky mortgage loans from a now-defunct lender.

Detroit automakers say 'no' to Japan joining trade talks (Reuters)

Posted: February 3rd, 2012, 12:30pm EST

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Reuters - Detroit automakers are urging President Barack Obama to reject Japan's bid to join talks on a regional free trade agreement, the head of an automotive group representing GM, Ford and Chrysler said on Thursday.

Job growth surges, jobless rate near 3-year low (Reuters)

Posted: February 3rd, 2012, 12:00pm EST

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Reuters - The United States created jobs at the fastest pace in nine months in January and the unemployment rate unexpectedly dropped to a near three-year low, giving a boost to President Barack Obama.

Central bank liquidity tap to stay open (Reuters)

Posted: February 3rd, 2012, 11:10am EST

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Reuters - rallies that caught many in the market by surprise - investors will be paying keen attention to the world's central banks in the coming week for signs of continued easy money.

Aon Q4 profit rises, but margin pressures persist (Reuters)

Posted: February 3rd, 2012, 10:54am EST

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Reuters - Aon Corp posted a higher quarterly profit that narrowly beat market estimates, but the world's largest insurance broker continued to face margin pressures in its Aon Hewitt segment for the second-straight quarter.

January service sector growth highest in nearly a year: ISM (Reuters)

Posted: February 3rd, 2012, 10:43am EST

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Reuters - The pace of growth in the U.S. services sector accelerated in January to its highest level in nearly a year as new orders and employment jumped, an industry report showed on Friday.

Arizona Senate approves motion picture tax credit (AP)

Posted: February 3rd, 2012, 10:42am EST

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AP - The Arizona Senate has approved a bill creating a tax credit for motion picture production in the state.

If Japan Is Our Worst-Case Scenario, We're All Right (The Motley Fool)

Posted: February 3rd, 2012, 10:09am EST

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The Motley Fool - In 1991, former MIT dean Lester Thurow wrote that "If one looks at the last 20 years, Japan would have to be considered the betting favorite to win the economy honors of owning the 21st century."

Factory orders up, business spending rises (Reuters)

Posted: February 3rd, 2012, 10:01am EST

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Reuters - New orders for U.S. factory-made products posted a second straight monthly rise in December and business capital spending also picked up, a government report on Friday showed.

Def Sec'y Panetta: Pressure must be kept on Iran (AP)

Posted: February 3rd, 2012, 9:58am EST

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AP - U.S. Defense Secretary Leon Panetta said Friday the key to stopping Iran from getting a nuclear bomb is keeping global support for tough economic sanctions.

Markets rally after forecast-busting US jobs data (AP)

Posted: February 3rd, 2012, 9:42am EST

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AP - Stocks spiked sharply higher on Friday after forecast-busting U.S. jobs figures reinforced hopes that the recovery in the world's largest economy is gathering pace at a time when other regions, notably Europe, may be heading back into recession.

Greek bailout deal held up by labor reforms talks (AP)

Posted: February 3rd, 2012, 9:35am EST

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AP - Unions and employers' associations in Greece on Friday rejected private-sector wage cuts, as demanded by the country's international bailout lenders if Athens is to receive a crucial, second rescue package.

Britain's Cameron to visit White House March 13-14 (Reuters)

Posted: February 3rd, 2012, 9:16am EST

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Reuters - British Prime Minister David Cameron and President Barack Obama will meet in Washington next month to discuss Afghanistan, Iran and the Middle East as well as economic growth, the White House said on Friday.

Euro zone sales tumble at Christmas, no sign of growth (Reuters)

Posted: February 3rd, 2012, 6:38am EST

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Reuters - Retail sales in the euro zone tumbled unexpectedly in December, the biggest drop in the Christmas period in three years, data showed on Friday, with rising joblessness and stubborn inflation undercut signs of a stabilization in Europe's economy.

Truck maker Volvo's Q4 profit rockets (AP)

Posted: February 3rd, 2012, 4:28am EST

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AP - Swedish truck maker AB Volvo recorded a 46 percent rise in fourth-quarter profits after a surge in sales it described as the best it has seen in more than two decades.

Job growth seen slower in January (Reuters)

Posted: February 3rd, 2012, 4:13am EST

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Reuters - U.S. employment growth probably slowed in January as messengers hired during the busy holiday shopping season were laid off, but the improving labor market trend should remain intact.

Top security and defense officials meet in Munich (AP)

Posted: February 3rd, 2012, 3:49am EST

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AP - The world's top security and defense officials are gathering in Munich, with uncertainty over the future of the Middle East and the implications of the financial crisis in Europe looming large.

Anonymous hackers access Greek ministry website (Reuters)

Posted: February 3rd, 2012, 3:28am EST

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Reuters - Hackers associated with the activist group Anonymous posted a protest against Greece's EU and IMF-inspired austerity policies on the website of the country's justice ministry Friday, a ministry spokeswoman said.

Megaupload founder refused bail in New Zealand (Reuters)

Posted: February 3rd, 2012, 2:57am EST

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Reuters - A New Zealand court refused an appeal by the founder of online file-sharing site Megaupload.com to be freed on bail, Friday, agreeing with prosecutors there was a risk he would attempt to flee before an extradition hearing.

Analysis: A sobering look at Facebook (Reuters)

Posted: February 3rd, 2012, 2:19am EST

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Reuters - It's the year's hottest initial public offering, but some wealth managers find themselves having a hard time recommending Facebook to their clients.

Ford draws on luxury hotel experience for Lincoln overhaul (Reuters)

Posted: February 3rd, 2012, 12:51am EST

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Reuters - In the plan to overhaul its luxury Lincoln brand, Ford Motor Co is embarking on a new approach, leaving behind the routine ideas of the auto industry and instead taking cues from the likes of high-end boutique hotels.

U.S. Justice Department indicts Swiss bank Wegelin (Reuters)

Posted: February 2nd, 2012, 9:54pm EST

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Reuters - The United States indicted Wegelin, the oldest Swiss private bank, on charges that it enabled wealthy Americans to evade taxes on at least $1.2 billion hidden in offshore bank accounts, the U.S. Justice Department said on Thursday.

Analysis: Obstacles high for more mortgage prosecutions (Reuters)

Posted: February 2nd, 2012, 9:09pm EST

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Reuters - Despite the determination of President Obama to take Wall Street to court for the financial crisis, prosecutors face an uphill struggle to win more convictions like the two they scored on Wednesday against former Credit Suisse Group AG mortgage traders.

California woman's small claims victory resonates (AP)

Posted: February 2nd, 2012, 9:01pm EST

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AP - Heather Peter's computer crashed under the onslaught of messages following her unique victory over Honda in small claims court — a win the California woman is hoping will lead other consumers to reject a class action settlement over defective hybrid cars.

Wynn's 4th-qtr profit up 67 pct as revenue climbs (AP)

Posted: February 2nd, 2012, 8:55pm EST

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AP - Wynn Resorts Ltd. said Thursday that revenue growth in its Macau and Las Vegas casinos and a tax benefit helped drive profit up 67 percent in the last three months of 2011.

Homebuilders see stable housing market ahead (AP)

Posted: February 2nd, 2012, 7:54pm EST

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AP - The CEOs of some of the nation's biggest homebuilding companies said Thursday that they feel the housing market has stabilized.

Fed's Fisher: policy action hinged to inflation (Reuters)

Posted: February 2nd, 2012, 7:54pm EST

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Reuters - A third round of large-scale asset purchases by the Federal Reserve is not needed and would compound the difficulties of tightening monetary policy when the time finally comes, a top Fed official said on Thursday.

US charges Swiss bank with aiding in tax fraud (AP)

Posted: February 2nd, 2012, 7:45pm EST

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AP - The U.S. Justice Department says it has indicted Switzerland's oldest private bank, claiming it conspired with Americans and others to hide more than $1.2 billion in client assets from the Internal Revenue Service.

Asian markets hold ranges before U.S. jobs data (Reuters)

Posted: February 2nd, 2012, 7:29pm EST

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Reuters - Caution ahead of U.S. jobs numbers kept a lid on gains for stock markets on Friday after an optimistic start to the year that has added more than 7 percent to global company values.

China's Wen: May consider bigger role in EU rescue (Reuters)

Posted: February 2nd, 2012, 6:00pm EST

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Reuters - China is considering increasing its participation in the rescue funds aimed at resolving the European debt crisis, Chinese Premier Wen Jiabao told journalists on Thursday.

House says budget should reflect economic impacts (AP)

Posted: February 2nd, 2012, 5:47pm EST

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AP - The House on Thursday voted to take a "dynamic scoring" approach to assessing how legislation affects the economy, a budgetary method that Republicans say will help lawmakers make good decisions but Democrats say is a gimmick aimed at justifying tax cuts.

Summary Box: Tough times ahead for drugmakers (AP)

Posted: February 2nd, 2012, 5:32pm EST

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AP - NEW NORMAL: Big drugmakers can no longer churn out drugs for the masses and double-digit profit increases. Now, they're having to develop drugs for smaller patient groups and hold up the bottom line with relentless cost-cutting.

Canada, Alberta to announce new oil sands monitoring (Reuters)

Posted: February 2nd, 2012, 5:26pm EST

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Reuters - The governments of Canada and Alberta will announce details of a new environmental-monitoring regime in the province's oil sands on Friday, as they look shore up an industry whose growth plans are under attack from environmental groups.

Wynn's 4th-qtr profit up 67 pct as revenue climbs (AP)

Posted: February 2nd, 2012, 5:25pm EST

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AP - Wynn Resorts Ltd. said Thursday that revenue growth in its Macau and Las Vegas casinos and a sizable income tax gain helped drive profit up 67 percent in the last three months of 2011.

Signs of split among Volcker rule's foes (Reuters)

Posted: February 2nd, 2012, 4:26pm EST

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Reuters - As pro-business groups clamor to convince regulators to overhaul their draft of the controversial Volcker rule, fault lines are emerging within the opposition over just what a revamped draft should look like.

Too late to lower 2011 business taxes? Not at all (AP)

Posted: February 2nd, 2012, 4:24pm EST

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AP - Although 2011 is history, you may still be able to save money on your business taxes.

Under the hood: GM blueprint for Volt 2.0 (Reuters)

Posted: February 2nd, 2012, 3:58pm EST

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Reuters - The Chevrolet Volt stands as the most heavily promoted - and harshly scrutinized - vehicle from General Motors Co in decades. And that's just version 1.0.

Obama says draws from Christian faith to craft policy (Reuters)

Posted: February 2nd, 2012, 3:36pm EST

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Reuters - President Barack Obama sought to emphasize his Christian faith on Thursday, telling a key election-year voting bloc that he prays every morning and has crafted elements of his economic policies in line with Jesus' teachings.

Obama says his policies are extension of his faith (AP)

Posted: February 2nd, 2012, 3:22pm EST

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AP - Blending politics and religion, President Barack Obama said his Christian faith is a driving force behind his economic policies, from Wall Street reform to his calls for the wealthy to pay higher taxes.

Spain tells banks to cover toxic assets or merge (AP)

Posted: February 2nd, 2012, 2:28pm EST

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AP - Spanish banks must raise an additional euro50 billion ($65.5 billion) to cover their exposure to toxic real estate loans and assets accumulated during a construction boom that went bust with the financial crisis, according to new regulations unveiled Thursday.

Apparel chains sweat through warm winter (Reuters)

Posted: February 2nd, 2012, 2:27pm EST

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Reuters - Quarterly earnings at U.S. chains including Abercrombie & Fitch Co and Ann Inc took a big hit from deep discounts they offered to clear out clothes stocked for snow and cold that never came.

Illinois accuses mortgage firm of robosigning (Reuters)

Posted: February 2nd, 2012, 2:24pm EST

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Reuters - The attorney general in Illinois on Thursday sued a mortgage document firm and said it filed "faulty" documents with local governments in a rush to process mortgages and foreclosures.

Romney stock trades clash with divestment pledge (AP)

Posted: February 2nd, 2012, 2:08pm EST

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AP - Presidential candidate Mitt Romney promised in 2007 he would shed any investments that conflicted with Republican positions on hot-button domestic and foreign policy issues. But Romney's family trusts kept some of those holdings and repeatedly bought new ones until 2010, when they were finally sold off for more than $3 million, according to a detailed review of Romney's financial records by The Associated Press.

EU official: Greece needs extra $20 billion (AP)

Posted: February 2nd, 2012, 1:21pm EST

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AP - Greece needs about an extra euro15 billion ($20 billion) to get its debt down to manageable levels — and the rest of 17-country eurozone is being asked to help foot the bill.

Jobless claims fall, jobs market slowly healing (Reuters)

Posted: February 2nd, 2012, 1:10pm EST

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Reuters - New claims for unemployment benefits in the United States fell more than expected last week, pointing to further healing in the nation's battered jobs market.

Providence mayor warns of possible bankruptcy (AP)

Posted: February 2nd, 2012, 1:06pm EST

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AP - Mayor Angel Taveras painted a bleak picture Thursday of the city's finances, saying Providence faces "devastation" and could go bankrupt if retiree benefits aren't cut and tax-exempt institutions like Brown University don't pay more in lieu of taxes.

Wall Street mixed on earnings ahead of payrolls data (Reuters)

Posted: February 2nd, 2012, 12:59pm EST

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Reuters - Investors largely took a wait-and-see approach on Thursday as stocks ended little changed ahead of Friday's key employment report, but tech shares rose after strong earnings from chipmaker Qualcomm.

Spain's Repsol begins drilling offshore Cuba: sources (Reuters)

Posted: February 2nd, 2012, 12:55pm EST

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Reuters - Spanish oil company Repsol YPF has begun drilling the first well in Cuba's long-awaited exploration of offshore oilfields that the communist country says hold both billions of barrels of oil and the key to greater prosperity, industry sources told Reuters.

MF Global risk officer says ousted after warnings (Reuters)

Posted: February 2nd, 2012, 12:49pm EST

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Reuters - The former chief risk officer at MF Global who raised red flags about the firm's aggressive trading bets told lawmakers that his warnings contributed to the firm's decision to let him go in early 2011.

Merck & Co. swings to Q4 profit on lower charges (AP)

Posted: February 2nd, 2012, 12:34pm EST

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AP - Merck & Co. swung to a fourth-quarter profit because of lower restructuring and other charges and higher sales of most of its key drugs.

Zynga shares soar on Facebook connection (Reuters)

Posted: February 2nd, 2012, 12:32pm EST

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Reuters - Zynga shares jumped as much as 22 percent on Thursday in the first trading session after Facebook revealed it made 12 percent of its revenue last year from the video game publisher.

Rising regulatory risk squashing M&A deals, say advisers (Reuters)

Posted: February 2nd, 2012, 12:22pm EST

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Reuters - Competition watchdogs are stifling those companies still braving economic uncertainty to attempt mergers and acquisitions, say bankers and lawyers who claim the burden of bureaucracy has intensified with the financial crisis.

NYSE, Deutsche Boerse call off merger on EU block (AP)

Posted: February 2nd, 2012, 12:15pm EST

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AP - The New York Stock Exchange and German exchange Deutsche Boerse called off their planned merger Thursday, a day after the European Union said it would block the union because of concerns about a monopoly.

Chrysler factory workers to get $1,500 checks (AP)

Posted: February 2nd, 2012, 11:31am EST

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AP - Factory workers at Chrysler will get profit-sharing checks of about $1,500 next month as they share in the automaker's improbable turnaround.

Europe gets bond market respite, real economy pain (Reuters)

Posted: February 2nd, 2012, 10:52am EST

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Reuters - Spain and France gained respite at bond auctions on Thursday highlighting a rally in euro zone government debt markets since the European Central Bank flooded banks with cheap money in December.

Mortgage rates for the past 52 weeks, at a glance (AP)

Posted: February 2nd, 2012, 10:25am EST

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AP - Mortgage rates for the past 52 weeks, at a glance

Rate on 30-year mortgage falls to record 3.87 pct. (AP)

Posted: February 2nd, 2012, 10:17am EST

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AP - The average rate on the 30-year fixed mortgage fell this week to a record low, the ninth time that has happened in the last year. Even with the cheapest rates in history, the housing market remains depressed.

Abercrombie & Fitch shares tumble on weak outlook (AP)

Posted: February 2nd, 2012, 9:35am EST

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AP - Shares of Abercrombie & Fitch tumbled 11 percent to a 52-week low in early trading Thursday after the retailer said that its fourth-quarter adjusted earnings and revenue will likely disappoint Wall Street.

EU official: Greece needs extra euro15 billion (AP)

Posted: February 2nd, 2012, 8:24am EST

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AP - Greece's Finance Minister says the European Central Bank and national central banks should be part of a debt relief deal with the country's private sector creditors that must be concluded by early next week.

Timeline: From dorm room to Nasdaq: Facebook's meteoric ascent (Reuters)

Posted: February 2nd, 2012, 7:32am EST

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Reuters - Facebook on Wednesday filed to raise $5 billion in an initial public offering. Here are a few highlights of its meteoric rise, several of which were chronicled in David Fincher's seminal Oscar-winning 2010 movie, "The Social Network":

U.S. accuses China of instigating plot against DuPont (Reuters)

Posted: February 1st, 2012, 8:54pm EST

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Reuters - Federal authorities successfully kept a U.S. businessman in jail on Wednesday ahead of his trial on charges relating to trade secret theft, and argued that it was Chinese government representatives who directed him to obtain valuable technology manufactured by chemical giant DuPont.

Oil hovers below $98 amid mixed US demand signs (AP)

Posted: February 1st, 2012, 8:53pm EST

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AP - Oil prices hovered below $98 a barrel Thursday in Asia amid mixed signs about the strength of U.S. crude demand.

Qualcomm handily beats Street, shares rise (Reuters)

Posted: February 1st, 2012, 8:44pm EST

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Reuters - Qualcomm Inc's quarterly profit easily beat Wall Street forecasts and the wireless chip leader raised its full-year financial targets due to growing demand for smartphones such as Apple Inc's popular iPhone.

Credit Suisse exec charged in NY mortgage probe (AP)

Posted: February 1st, 2012, 8:37pm EST

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AP - The desire to fatten year-end bonuses motivated a Credit Suisse executive and two of his employees to conspire to hide the deteriorating condition of the U.S. housing market in 2007 to keep the value of bonds based on subprime mortgages artificially high, authorities said Wednesday.

Facebook, and Zuckerberg, embark on mega-IPO (Reuters)

Posted: February 1st, 2012, 8:26pm EST

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Reuters - Facebook took the first step toward public markets in the year's most highly anticipated IPO, which could rank co-founder Mark Zuckerberg among the world's richest people.

3 states offer big tax breaks for Shell Oil plant (AP)

Posted: February 1st, 2012, 7:03pm EST

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AP - Pennsylvania, Ohio and West Virginia are trying to top each other with the sweetest package of tax breaks for Shell Oil Co., which plans to build a huge new petrochemical refinery in the region.

2012 already looks like a winner for automakers (AP)

Posted: February 1st, 2012, 6:21pm EST

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AP - 2012 is already looking like a winner for automakers -- just one month into the year.

Exclusive: MF Global triggers regulatory rethink at CFTC (Reuters)

Posted: February 1st, 2012, 5:07pm EST

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Reuters - The head of the Commodity Futures Trading Commission has ordered an extensive review of how futures brokerages are regulated, following the collapse of MF Global three months ago, a CFTC official told Reuters on Wednesday.

Obama details broader housing plan (AP)

Posted: February 1st, 2012, 4:16pm EST

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AP - President Barack Obama called on Congress Wednesday to make it easier for millions of additional homeowners to refinance their mortgages at lower interest rates even if they owe more than their homes are worth. He conceded that his administration's housing plans so far have not lived up to their promise.

Did Freddie Mac Want You to Fail? (ContributorNetwork)

Posted: February 1st, 2012, 4:04pm EST

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ContributorNetwork - COMMENTARY | I have been telling my friends lately that I hate banks and insurance companies. It seems I now have a bit more ammunition. ProPublica and NPR News recently uncovered disturbing news. Freddie Mac, a mortgage company controlled by the government, has made investments that will be worth more if homeowners are unable to refinance their mortgages.

Summary Box: Ex-UK finance chief slams Goodwin row (AP)

Posted: February 1st, 2012, 3:59pm EST

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AP - TARNISHED: The man who led the British government's bailout of Royal Bank of Scotland, former Treasury chief Alistair Darling, said Wednesday that the decision to strip the bank's former chief executive of his knighthood was distasteful.

Summary Box: Portugal raises $2B in new debt (AP)

Posted: February 1st, 2012, 3:56pm EST

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AP - DEBT AUCTION: Portugal comfortably raised euro1.5 billion ($1.97 billion) in a short-term debt auction Wednesday. Borrowing costs were lower than they have been recently, and demand strong, the government debt agency said.

Credit Suisse exec charged in NY mortgage probe (AP)

Posted: February 1st, 2012, 3:52pm EST

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AP - A Credit Suisse executive who was once slated to receive nearly $7 million in compensation in 2007 is among three of the company's former employees to be criminally charged.

House GOP bill would cut small business taxes (AP)

Posted: February 1st, 2012, 3:49pm EST

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AP - If the bill makes no exceptions, that means the reduction would apply to 99.9 percent of the nation's 27.3 million firms, according to Census Bureau data for 2008, the most recent year available. Companies of that size employ about half the country's 121 million paid workers, the Census data shows.

Exclusive: Mortgage deal would give states enforcement clout (Reuters)

Posted: February 1st, 2012, 3:44pm EST

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Reuters - A proposed settlement to resolve mortgage abuses by top U.S. banks will give states broad authority to punish firms that mistreat borrowers in the future, according to documents seen by Reuters on Wednesday.

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Obama Applauds Bailout âSuccessâ at Washington Auto Show (ContributorNetwork)

Posted: February 1st, 2012, 3:36pm EST

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ContributorNetwork - COMMENTARY | Gracing the Washington Auto Show with his presence Tuesday, President Barack Obama hailed his administration's efforts in reigniting the U.S. auto industry, while at the same time railing against his political adversaries who were "willing to let the industry die." As the U.S. auto manufacturing industry continues to heal, Obama is employing the government bailout of General Motors and Chrysler as a campaigning tool to court the American electorate.

AMR expects to slash about 13,000 jobs (Reuters)

Posted: February 1st, 2012, 3:31pm EST

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Reuters - AMR Corp, the bankrupt parent of American Airlines, expects to slash about 13,000 jobs as part of a cost-cutting strategy the carrier says is necessary to compete with rivals.

Auto sales in January show unusual strength (Reuters)

Posted: February 1st, 2012, 3:29pm EST

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Reuters - Major automakers reported a nearly 12 percent gain in U.S. sales in January, a surprisingly strong showing driven by the growing need for American drivers to replace aging cars and trucks.

Booming production pushes natural gas price down (AP)

Posted: February 1st, 2012, 3:08pm EST

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AP - The price of natural gas dropped back to near a 10-year low Wednesday after Exxon Mobil and other energy companies declined to cut production.

Chrysler posts 1st annual net profit since 1997 (AP)

Posted: February 1st, 2012, 3:02pm EST

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AP - Higher sales of Jeeps and other new vehicles propelled Chrysler to its first annual net income since 1997, capping a pivotal turnaround that many thought would never happen.

SEC advisory panel concerned about crowdfunding (Reuters)

Posted: February 1st, 2012, 2:59pm EST

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Reuters - An advisory committee urged U.S. securities regulators on Wednesday to relax outdated rules that trigger public financial reporting for companies, but it stopped short of backing a new capital-raising strategy known as "crowdfunding."

BofA selling three buildings in New York, Charlotte (Reuters)

Posted: February 1st, 2012, 2:43pm EST

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Reuters - Bank of America Corp plans to sell and lease back three buildings it owns in New York and Charlotte, North Carolina, as it looks to shed non-core assets under an efficiency program

Wall Street rises on factory data, Greece (Reuters)

Posted: February 1st, 2012, 2:40pm EST

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Reuters - Stocks extended January's rally on Wednesday after upbeat global manufacturing data boosted sentiment and as Greece neared a long-delayed deal with private creditors.

Manufacturing picks up, but private job gains slow (Reuters)

Posted: February 1st, 2012, 2:39pm EST

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Reuters - Manufacturing growth accelerated in January to its highest level in seven months, though a measure of employment faded and private-sector employers added fewer jobs than expected, data showed on Wednesday.

4 UK men admit London Stock Exchange bomb plot (AP)

Posted: February 1st, 2012, 12:53pm EST

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AP - Four British men fueled by the words of a U.S.-born Muslim cleric pleaded guilty Wednesday to involvement in an al-Qaida inspired plot to spread terror and cause economic damage by bombing the London Stock Exchange at Christmastime.

Manufacturing expands at fastest pace since June (AP)

Posted: February 1st, 2012, 11:53am EST

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AP - U.S. factories grew in January at the fastest pace in seven months, boosted by a rise in new orders. And builders ended a poor year for construction by spending more on homes and projects for the fifth straight month.

Greece, IMF expect debt deals soon (AP)

Posted: February 1st, 2012, 10:40am EST

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AP - Greece and the IMF said Wednesday that negotiations for landmark debt deals will be concluded in a "matter of days," raising hopes that the country will dodge a disastrous default in the spring.

News From Yellow Business Pages » Yahoo! News: Business » February 2012

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