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Crude Rises but Not Sustainable. EIA Revised Down Oil Demand Forecasts

As driven by a late-rally in the Wall Street, WTI crude oil price ended the day with small gains. After market close, API's report showing a dip in crude inventory boosted the market further. However, we doubt if the strength can sustain as sovereign crisis in the Eurozone has shown intensified signs of contagion. Gold price retreated after hitting a new record at 1254.5. Yet, outlook is still bullish for the yellow metal as long as worries over deficits problems persist and uncertainty over glo...

Most Asian stocks recover on China export surge

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Most Asian stock markets clawed back early losses on Wednesday and the euro stabilized as news of stronger-than-expected exports from China offset worries that Europe's debt problems will stifle demand for Asian goods.

Forex Outlook - Interview with John Kicklighter, Currency Strategist at DailyFX.com

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What is your Prediction for Gold in 2010 and 2011 Many are projecting gold to perhaps double in the span of one to two years. I think this would only be the case under one or two very severe circumstances. The most prominent threats are that the euro is abandoned or substantially restructured or there are a series of prominent downgrades amongst the major economies.
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Manpower says global hiring prospects improve

Employers in most economies are more likely to add workers than three months ago, including those in the United States, but big gains are limited to booming emerging economies like Brazil, India and China, according to a quarterly survey by Manpower Inc .
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Daily forex forecast 08/6/2010

The Australian Dollar opens lower against the greenback today at 0.8100. Support at US82 cents gave way yesterday very early in the local session as equity markets lost almost 3 per cent and the 16-nation Euro currency slid to new multi-year lows.
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EU seeks safety net deal, Germany sets cuts

European finance ministers sought to calm nervous markets Monday by nailing down details of a massive financial safety net for the euro zone as Germany unveiled new budget cuts it hopes will set an example for its partners in the bloc.
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Prudential defends Asia bid amid shareholder anger

British insurer Prudential's management sought to ease shareholder anger over its botched bid for AIG's Asian unit at a meeting on Monday, unveiling bumper sales and apologizing for the misadventure's huge costs.
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Key political risks to watch in Japan

Japan's Naoto Kan takes over as prime minister this week, faced with the challenge of fixing policy disarray and cutting a huge public debt that is constraining options for keeping economic recovery on track.
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Pru investors plot return of former CEO: report

Some of UK insurer Prudential's largest shareholders have approached former chief executive Mark Tucker over a possible return to the helm of the company, British media reported on Monday.
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Pru denies report of renewed bid for AIG unit

UK insurer Prudential is not considering a renewed attempt to buy AIG's Asian life unit, a spokesman for the company said on Sunday, denying a media report that a fresh takeover proposal was in the works.
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UK's Pru denies report of renewed bid for AIG unit

UK insurer Prudential is not considering a renewed attempt to buy AIG's Asian life unit, a spokesman for the company said on Sunday, denying a media report that a fresh takeover proposal was in the works.
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G20 scraps plans for universal bank tax

The world's top economies scrapped plans for a universal global bank tax on Saturday, giving countries plenty of wiggle room over how to make banks pay for their bailouts in future.
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BP's Continued Existence Seen Coming Under Threat as Gulf Oil Spill Continues

The continued failure of BP's efforts to stop the Gulf oil spill and mounting political pressure are putting the very future of the British-based oil giant in question. BP shares plunged again on Tuesday, wiping $17 billion off the market capitalization of the company. Premiums on credit default swaps to insure the company's debt soared 75% to $178,000 for $10 million as analysts began to question whether the company can survive the financial and reputational costs of the Deepwater Horizon catas...
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Instant View: May payrolls short of expectations

U.S. nonfarm payrolls grew at their fastest pace in 10 years in May, buoyed by recruitment for the decennial census, but private hiring slowed sharply, disappointing investors looking for a stronger figure.
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BP's battered brand draws consumer opposition

U.S. consumers are venting frustration over the BP oil spill, demonstrating at gas stations and corporate offices, drumming up support on Facebook and waging a mock public relations campaign on Twitter.
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BP credit ratings cut as oil-spill costs mount

Fitch Ratings downgraded BP , reversing its view that the Gulf of Mexico oil spill would have a limited financial impact on the company, and was joined by Moody's as fears grow over clean-up and legal costs.

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