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Teck to sell 17 percent stake to China for C$1.74 billion
(Reuters)
(04 July 02:59) |
| Reuters - Teck Resources (TCKb.TO) said on Friday it will sell a 17.2 percent equity stake to state-owned China Investment Corp in a deal that will help the Canadian miner pay down its debt ... |
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Stanford clients sue insurance broker Willis Group
(Reuters)
(04 July 02:18) |
| Reuters - Several Mexican clients of Stanford Financial Group have sued insurance broker Willis Group Holdings Ltd , contending it was a willing participant in a $7 billion fraud at the Texa... |
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Dollar status unlikely to be in G8 communique: G8 source
(Reuters)
(03 July 11:43) |
| Reuters - The dollar's status as the top global reserve currency is unlikely to be mentioned explicitly in the final communique at next week's Group of Eight summit, a European G8 source inv... |
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Teck to sell 17 percent stake to China for C$1.7 billion
(Reuters)
(03 July 11:09) |
| Reuters - Canada's Teck Resources (TCKb.TO) said on Friday it will sell a 17.2 percent equity stake to state-owned China Investment Corp in a deal that will help Teck pay down debt while exp... |
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Medici lawyer says Kohn didn't get Madoff payments
(Reuters)
(03 July 10:47) |
| Reuters - Austrian fund manager Sonja Kohn did not receive any kickbacks from Bernard Madoff to steer Bank Medici customer funds to the swindler's investment business, a Medici lawyer said o... |
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Dollar climbs after poor European retail sales
(AFP)
(03 July 10:08) |
| AFP - The dollar climbed against the euro Friday after eurozone retail figures slipped back into a rut and as fresh worries about the health of the US economy supported the "safe-haven" gree... |
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China moves on Opel with BAIC bid
(Reuters)
(03 July 07:45) |
| Reuters - A Chinese automaker has offered to buy a stake in General Motors unit Opel, challenging a deal from Canadian auto parts supplier Magna, sources said on Friday. |
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Oil brokerage PVM names rogue trader behind oil spike
(Reuters)
(03 July 06:10) |
| Reuters - PVM Oil Futures Limited said on Friday Steve Perkins, a senior broker based at the firm's London office, was responsible for unauthorized trades earlier this week which landed the ... |
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Oil brokerage PVM says rogue trader behind oil spike
(Reuters)
(03 July 06:00) |
| Reuters - PVM Oil Futures Limited said on Friday Steve Perkins, a senior broker based at the firm's London office, was responsible for unauthorized trades earlier this week which landed the ... |
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Global stocks dip as investors cautious on recovery
(Reuters)
(03 July 04:52) |
| Reuters - World stocks fell on Friday after a disappointing U.S. jobs report and a sluggish euro zone services sector survey reinforced expectations that the process of recovery in the globa... |
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Clearing key to making derivatives safer: EU
(Reuters)
(03 July 03:52) |
| Reuters - Derivatives pose risks on financial markets that central clearing of contracts would mitigate, the European Commission said on Friday, outlining plans that fall short of more radic... |
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CEOs use Obama visit to press Russia on rule of law
(Reuters)
(03 July 03:21) |
| Reuters - U.S. businessmen are expected to use a Russia-U.S. business summit on Tuesday to press Moscow to rein in corruption and improve conditions for western companies operating in the co... |
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Major nations should back dollar as key currency: Japan
(Reuters)
(03 July 02:21) |
| Reuters - Major countries should support the dollar as the key international currency, although emerging nations may discuss a new global reserve currency on the sidelines of the G8 summit n... |
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Rio wraps up rights issue
(Reuters)
(03 July 01:57) |
| Reuters - Global miner Rio Tinto wrapped up one of the world's biggest rights issues on Friday, saying its Australian shareholders had taken up 94.76 percent of their entitlements to the n... |
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Web retailers, states tussle over tax rules
(AP)
(03 July 06:37) |
| AP - In a big break for online shoppers, Web retailers generally don't have to charge sales taxes in states where they lack a store or some other physical presence. |
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Earnings to set tone for stocks in week ahead
(Reuters)
(03 July 04:32) |
| Reuters - With Wall Street stuck in a range since May, the start of second-quarter earnings season next week could prove to be a decisive factor for determining how much faith investors shou... |
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Fate of GM in hands of bankruptcy judge
(Reuters)
(03 July 03:27) |
| Reuters - A federal bankruptcy judge will decide the immediate fate of General Motors Corp's effort to quickly sell its best assets to a group funded by the U.S. government, after a three-d... |
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Bleak payrolls report mauls Wall St; volume thin
(Reuters)
(03 July 03:17) |
| Reuters - Stocks tumbled on Thursday, driving the S&P 500 down to its third-straight weekly loss, as a steeper-than-expected slide in June non-farm payrolls revived caution about economic re... |
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TSX slides on weak oil, U.S. jobs data
(Reuters)
(03 July 02:59) |
| Reuters - Toronto's main stock index finished lower on Thursday as oil prices slid and a gloomy U.S. jobs report dimmed hopes for a quick economic recovery. |
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Weak jobs data sinks Wall Street
(Reuters)
(03 July 01:57) |
| Reuters - Stocks tumbled on Thursday after a larger-than-expected slide in June non-farm payrolls signaled that hopes for a quick economic recovery may prove premature. |
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GM says if sale not approved it could liquidate
(Reuters)
(03 July 01:12) |
| Reuters - General Motors Corp would be forced into liquidation if its proposed asset sale were not approved despite urging from dissident bondholders that another course be pursued, the com... |
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Circuit City completes sale of Canadian assets
(AP)
(03 July 12:21) |
| AP - Electronics retailer Circuit City, which closed all its U.S. stores, has sold its Canadian stores to telecommunications company Bell Canada. |
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Magna board set to approve Opel plans: sources
(Reuters)
(02 July 11:57) |
| Reuters - Magna's (MGa.TO) board of directors is scheduled to approve on Tuesday a business plan for the acquisition of German carmaker Opel, two sources familiar with the matter said on Thu... |
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Wall Street slides on disappointing jobs data
(Reuters)
(02 July 10:22) |
| Reuters - Stocks slid on Thursday after payrolls data showed much worse-than-expected job losses for June, a sign that hopes for a quick economy recovery may be premature. |
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Retailers cut 21,000 jobs in June
(AP)
(02 July 10:07) |
| AP - Retail job cuts moderated in June, when U.S. merchants trimmed 21,000 as they kept shuttering stores, but weakness in the overall job market looms over retailers, who need consumers to ... |
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U.S. job losses spike in June, dampen recovery hopes
(Reuters)
(02 July 09:37) |
| Reuters - U.S. employers cut far more jobs than expected last month and the unemployment rate hit a nearly 26-year high of 9.5 percent, underscoring the likelihood of a long and slow recover... |
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FTSE 100 shares fall sharply
(AFP)
(02 July 09:35) |
| AFP - Stocks in London ended the session sharply down Thursday on the back of dire unemployment figures released in the US and in the eurozone, where the rate hit a 10-year-high. |
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Exelon ups NRG hostile bid; NRG shares slip
(Reuters)
(02 July 09:05) |
| Reuters - Exelon Corp raised its hostile takeover bid for independent power producer NRG Energy Inc by more than 12 percent to $7.45 billion on Thursday but failed to excite investors. |
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Weak jobs data sink Wall Street
(Reuters)
(02 July 08:04) |
| Reuters - Stocks fell sharply on Thursday after payrolls data showed more Americans than expected lost their jobs in June, dimming hopes of a quick economic recovery. |
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U.S. job losses accelerate, jobless rate hits 9.5 percent
(Reuters)
(02 July 07:18) |
| Reuters - U.S. employers cut 467,000 jobs in June, far more than expected, while the unemployment rate rose to 9.5 percent, the government said on Thursday in a report that showed a labor ma... |
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J&J buys $1 billion Elan stake, gains Alzheimer's R&D
(Reuters)
(02 July 06:15) |
| Reuters - Johnson & Johnson is to take over most of Elan Corp's Alzheimer's research and invest $1 billion in new Elan equity in exchange for an 18.4 percent stake in the Irish drugmaker, ... |
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J&J buys $1 billion stake in Elan, shares soar
(Reuters)
(02 July 05:46) |
| Reuters - Johnson & Johnson is take over most of Elan Corp Alzheimer's research and invest $1 billion in new Elan equity in exchange for an 18.4 percent stake in the Irish drugmaker, the c... |
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Stock futures drop ahead of June jobs data
(Reuters)
(02 July 05:28) |
| Reuters - Stock index futures fell on Thursday as investors readied for data expected to show more Americans lost their jobs in June than in the previous month, in another sign the economic ... |
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World stocks down ahead of key US jobs data
(AP)
(02 July 05:28) |
| AP - World stocks mostly fell Thursday as investors braced for a crucial U.S. jobs report that could set the tone in markets for the coming few days at least. |
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Exelon raises hostile bid for NRG to $7.5 billion
(Reuters)
(02 July 05:27) |
| Reuters - Exelon Corp raised its hostile takeover bid for independent power producer NRG Energy Inc. by more than 12 percent to $7.45 billion on Thursday to sway investors ahead of NRG's a... |
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Forecast raised for U.S. payroll losses in June
(Reuters)
(02 July 05:21) |
| Reuters - The U.S. economy likely shed 363,000 non-farm jobs in June, a steeper estimate than originally forecast, while the unemployment rate hit a 26-year high, but for a nation mired deep... |
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U.S. jobless rate seen highest since 1983
(Reuters)
(02 July 02:45) |
| Reuters - The U.S. economy likely shed a further 355,000 jobs in June and the unemployment rate hit a 26-year high, but for a nation mired in its deepest recession since at least World War T... |
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World stocks slip before U.S. jobs report
(Reuters)
(02 July 01:38) |
| Reuters - World stocks slipped from the previous day's two-week high while the dollar rose broadly on Thursday as investors looked to a closely-watched U.S. employment report to gauge the st... |
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Beijing Automotive plans Opel bid: report
(Reuters)
(02 July 11:21) |
| Reuters - Chinese carmaker Beijing Automotive Industry Holding Co plans to present a detailed bid for General Motors Corp's Opel unit in the next few days, the Wall Street Journal reported,... |
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SEC lawyer raised alarm about Madoff: report
(Reuters)
(02 July 11:18) |
| Reuters - A U.S. Securities and Exchange Commission lawyer warned about irregularities at Bernard Madoff's financial management firm as far back as 2004, The Washington Post reported on Thur... |
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Asia stocks sluggish ahead of U.S. jobs
(Reuters)
(02 July 10:25) |
| Reuters - Asian stocks were largely unchanged on Thursday ahead of the latest U.S. payrolls report, while the U.S. dollar remained near a three-week low against the euro, sensitive to linger... |
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Treasury to name up to 9 managers for toxic-asset plan: source
(Reuters)
(02 July 08:50) |
| Reuters - The Treasury Department is expected to name as many as nine fund managers to operate the long-awaited Public-Private Investment Program (PPIP) to cleanse banks of toxic assets, a p... |
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Rio rights get strong demand, Chinalco bids in full
(Reuters)
(02 July 07:57) |
| Reuters - Rio Tinto Ltd's $15.2 billion rights offer, the fifth-biggest on record, generated strong demand from UK investors, putting the world's top iron ore miner back into growth mode a... |
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GM tells judge that asset sale is its "only option"
(Reuters)
(02 July 05:42) |
| Reuters - General Motors Corp has no choice but to sell its assets to a group led by the U.S. government if it is to survive, a lawyer for the bankrupt carmaker argued in bankruptcy court i... |
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U.S. June auto sales tumble, Ford takes share
(Reuters)
(02 July 03:58) |
| Reuters - U.S. auto sales tumbled 28 percent in June, the narrowest decline in nine months, as Ford Motor Co stole market share from its rivals. |
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Auto supplier Lear to file for bankruptcy, obtains financing
(Reuters)
(02 July 03:45) |
| Reuters - Auto seating supplier Lear Corp said on Wednesday it would file for Chapter 11 in a reorganization supported by key secured lenders and bondholders and had obtained $500 million i... |
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Fannie, Freddie ease terms for mortgage refinance
(Reuters)
(02 July 03:27) |
| Reuters - The Obama administration on Wednesday expanded its foreclosure prevention efforts to help a greater number of underwater homeowners refinance their mortgages. |
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Wall St gains on recovery hopes, but job data looms
(Reuters)
(02 July 03:03) |
| Reuters - Stocks rose on Wednesday, the start of the third quarter, as reassuring manufacturing data from China, Europe and the United States reinforced hopes that the world's economy is on ... |
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AIG to sell consumer finance unit in Colombia
(AP)
(02 July 02:40) |
| AP - American International Group Inc. on Wednesday said it agreed to sell all of its ownership interests in its consumer finance operations in Colombia, the latest in a recent string of ass... |
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Jobs data signals hurdles amid factory glimmer
(Reuters)
(02 July 02:23) |
| Reuters - U.S. manufacturing mustered its highest level of activity in nearly a year in June but surprising weakness in private sector employment signaled how feeble an economic recovery mig... |
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