CHINA

Heavy in dollars, China warns of depreciation

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China on Friday offered a rare glimpse into its foreign exchange reserves, confirming that they are overwhelmingly allocated in dollars, while a central banker said the mountain of cash could face depreciation risks.
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FTSE seen opening higher

The FTSE 100 is seen climbing 7-8 points on open on Friday, with moves seen muted ahead of closely watched employment data from the United States.
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Stocks rise on US economic data, jobs on tap

Stocks rose and U.S. Treasuries fell on Thursday as U.S. data showed strength in the economy, but investors were mainly focused on Friday's closely followed U.S. unemployment report for economic clues.
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German car sales dive on scrappage anniversary

German new car registrations in August were 27 percent lower than a year ago when buyers enjoyed the last of the government's car scrappage incentives, according to official data published on Thursday.
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China digs for ways to stymie BHP's Potash Corp bid

China is stepping up attempts to hamper BHP Billiton's <BHP.AX> <BLT.L> $39 billion (25 billion pounds) hostile offer for Potash Corp <POT.TO>, amid worries about future supplies of fertiliser it needs to rapidly boost food production.
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Ferrari recalls supecars after fires

Ferrari said it is recalling more than 1,240 of its 458 Italia supercars to replace an adhesive prone to melting after five reports of fire accidents.
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Baidu to focus mobile Internet investment on search

Baidu Inc, operator of China's dominant search engine, said on Thursday that it will focus its future mobile Internet investments on its core search business as it takes aim at the next big Internet space.
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Futures point to Wall Street edging lower

Stock index futures pointed to a mostly lower open for U.S. shares on Thursday, giving back a little of the strong gains from the previous session, when they were boosted by strong manufacturing data from China and the United States.
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Oil slips as investors eye U.S. jobs reports

Oil dipped on Thursday as investors turned their attention to upcoming U.S. employment reports, following gains of almost 3 percent a day earlier after positive manufacturing data lifted spirits across markets.
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Sinochem hires HSBC regarding Potash options - report

China's Sinochem has hired HSBC bank to advise it on its options regarding Potash Corp , the target of a $38.6 billion (25 billion pound) hostile bid from BHP Billiton, the Wall Street Journal reported on its blog on Wednesday, citing a person familiar with the situation.
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Gold inches up as econ outlook remains murky

Gold prices were slightly firmer on Thursday, and could stay on the rise as global economic prospects remain shaky with investors watching for more jobs data out of the United States.
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Dollar on defensive after data whets risk appetite

The dollar was on the defensive on Thursday, retaining most of the losses sustained the previous day when upbeat data helped lure investors away from safe-haven currencies and assets. Figures released on Wednesday showed the U.S. manufacturing sector grew faster than expected and China's factory output regained momentum in August, while Australia's economy expanded at its fastest pace in three years in the second quarter.
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Asia stocks rise, U.S. data soothes fears

Asian stocks rose to a two-week high, with Japan's Nikkei briefly rising more than 2 percent, as strong U.S. manufacturing data further soothed worries about the global economy.
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This Week In Petroleum - Gasoline Prices at Summer Low before Labor Day Weekend

Heading into the Labor Day holiday weekend, U.S. retail gasoline prices have fallen for three weeks in a row, currently averaging $2.68 per gallon, the lowest level of the 2010 peak summer driving season, and the second lowest price at this point in the past five summers (Figure 1). This year, prices peaked on May 10 at $2.91 per gallon. Compared to price variation experienced over recent summers, gasoline prices have moved in a narrow range during this summer's driving season (Figure 2).
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Asia stocks rise as U.S. data soothes fears

Asian stocks rose to a two-week high, with Japan's Nikkei briefly rising more than 2 percent, as strong U.S. manufacturing data further soothed worries about the global economy.
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FTSE posts biggest daily gain in almost 2 months

M&A talk among the travel, telecoms and mining sectors helped Britain's top shares to their biggest daily gain in almost two months on Wednesday, as strong manufacturing data from the U.S. and China boosted sentiment.
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Factory growth picks up in China, slips in Europe

Surging domestic demand helped manufacturing growth in China and Russia pick up speed in August, while U.S. manufacturing grew faster than expected, but data showed the recovery slowing in European factories.
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Wall St soars on economic data

Wall Street rose more than 2 percent on Wednesday and was set to record its best day in eight weeks as U.S. and Asian economic data soothed worries about a global economic slowdown.
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China may probe BHP's bid for Potash: report

Michael Wei and Lucy HornbyChina may launch an antimonopoly probe into BHP Billiton's $39 billion bid for Canada's Potash Corp, the China Business News said on Wednesday, citing a source familiar with the matter.

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