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StanChart cuts staff to combat cost pressures

Standard Chartered Plc said it had cut 800 jobs this year to restrain rising costs after making record first quarter profits and revenue on the back of strong Asian markets like India and Hong Kong.
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India central bank toughens stance, lifts rates by 50 bps

India's central bank raised interest rates by a bigger-than-expected 50 basis points on Tuesday and declared it would battle stubbornly high inflation even at the cost of some economic slowdown, casting doubt over the government's ambitious growth targets.
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China, Japan, South Korea wary of inflation risk: draft

Finance ministers of China, Japan and South Korea are mindful of the challenges from inflation, rising commodity prices and the increasing volatility of capital flows to the region, a draft statement seen on Tuesday ahead of a trilateral meeting showed.
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India cbank raises rates by 50 bps, exceeding forecasts

India's central bank raised interest rates by a sharper-than-expected 50 basis points on Tuesday and signaled it would battle stubbornly high inflation even at the expense of the government's economic growth ambitions.
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NetLogic revenue misses on China weakness; shares fall

Telecommunications chipmaker NetLogic Microsystems Inc's quarterly sales missed estimates and fell 2 percent over the last quarter as Chinese carriers tightened spending, and the company's shares slipped 5 percent after the bell.

World Market Overview 5/2/11

U.S. stocks kicked off May with slim losses, as the energy sector followed the price of oil lower and investors couldn't sustain a morning rally that followed the death of Osama bin Laden.
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Greenlight Capital invests in Yahoo

Greenlight Capital, the hedge fund run by investor David Einhorn, acquired a significant long position in Yahoo Inc during the first quarter, citing Yahoo's most valuable asset as its stake in China's Alibaba Group.
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Factories hold up despite slower growth

Business at U.S. manufacturers grew a bit more slowly for a second straight month in April but their costs rose to the highest level in nearly three years, an industry report showed on Monday.
U.S. Stocks

Stocks rise on Bin Laden Death

The dollar rebounded from three-year lows and U.S. crude slid more than 1 percent on Monday on the back of news that a U.S.-led operation killed Osama bin Laden in Pakistan.
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Stocks, dollar up after news bin Laden killed

The dollar rose from three-year lows, oil fell and world stocks put in gains on Monday after news Al Qaeda leader Osama bin Laden was killed by U.S. forces swept across thinly-traded financial markets.
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Dollar rises, oil slides after news of bin Laden's death

The dollar rebounded from three-year lows and U.S. crude slid more than 1 percent on Monday after news al Qaeda leader Osama bin Laden was killed in a firefight with U.S. forces reduced the perception of security risks facing the United States.
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Nokia Siemens closes delayed Motorola deal

Mobile telecom gear venture Nokia Siemens Networks closed its $975 million acquisition of Motorola Solutions' mobile gear unit on Friday, four months behind the original schedule
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SEC freezes China Voice assets, cites Ponzi scheme

The Securities and Exchange Commission on Friday said it won a court order freezing the assets of China Voice Holding Corp, and accused a co-founder of the telecommunications company of running an $8.6 million Ponzi scheme.
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ZTE sues Huawei in China for patent infringement

ZTE Corp, China's No.2 telecommunications equipment maker, has filed a lawsuit against larger Chinese rival Huawei Technologies Co Ltd in China, it said on Friday, a day after it was sued by the latter in Europe.
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Bright Asian future not pre-ordained, must be earned: ADB

Asia needs to work to ensure the potential of its economic and political rise is realized, including fulfilling its responsibilities as a global player, the Asian Development Bank said ahead of its annual meeting next week in Vietnam.
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Caterpillar profit surges, raises full-year view

Caterpillar Inc recorded a fivefold surge in quarterly profit and raised its forecast for the rest of the year, citing rising demand for its bulldozers, excavators and other heavy equipment.
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Daimler's robust Q1 underwhelms hopeful market

Daimler posted robust quarterly results that underwhelmed investors whose expectations had been inflated by recent stellar reports by peers such as Volkswagen and truck maker Volvo .

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