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U.S. probes hedge fund bets against euro: source

The U.S. Justice Department has launched an investigation into whether hedge funds might have acted together in betting against the euro, a source familiar with the situation said on Wednesday.
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U.N. council ready to tackle Iran nuclear issue

The president of the U.N. Security Council said on Tuesday it was ready to tackle proposals for new sanctions against Iran over its nuclear program, while U.S. diplomats worked to persuade China that action is needed.
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Daily Forecast - 3/3/2010

The strength of the Australian economy was evident once again yesterday following the release of a much stronger than forecast 1.2% rise in Retail Sales during January adding some support to the AUD/USD in early Asian trade.
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UK's Pru to buy AIG Asia unit for $35.5 billion

Britain's Prudential will buy American International Group's Asian life insurance arm for $35.5 billion in the insurance sector's biggest deal ever, helping the bailed-out U.S. group repay a big chunk of its taxpayer debt.
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AUTOSHOW-FACTBOX-Cars on show in Geneva

Carmakers will be keen to show off new green technologies at the Geneva Auto Show, opening this week, as economic uncertainties and waning scrapping schemes make forecasting this year's sales trends difficult.
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Efforts to aid Greece, M&A lift Wall St

U.S. stocks headed for a second straight day of gains on Monday, boosted by AIG's deal to sell a unit for $35.5 billion and efforts to solve Greece's debt problems, which have clouded the outlook for global recovery.
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Global factories expand in Feb, some rates slower

Factories around the world enjoyed a bumper February with business surveys showing the manufacturing sector in major economies continued to lead an economic recovery, despite a slowdown in some growth rates.
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AIG seeks to cut retention payout to ex-employees

American International Group Inc has asked former employees of its Financial Products unit for information about how much they earned elsewhere after leaving the company as it prepares to hand them retention payments, a source familiar with the matter said on Monday.
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Stocks lifted by M&A, prospects for Greece aid

Stocks rose on Monday, boosted by AIG's deal to sell its Asian life insurance unit and prospects for solving Greece's debt problems, which have increased fears about the outlook for global recovery.
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Prudential to buy AIG Asia for $35.5 billion

Britain's Prudential will buy AIG's Asian arm for $35.5 billion in the insurance sector's biggest deal ever, helping the bailed-out U.S. group repay a big chunk of its taxpayer debt.
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Markets advance on mergers, Greece relief, data

U.S. stocks rose on Monday, boosted by several mergers, including a deal by AIG to sell its Asian life insurance unit, and as a possible resolution appeared for debt-troubled Greece in the form of European Union aid.
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Non-OPEC crude oil supply to surge in 2010-11

Non-OPEC crude oil supply is set to surge in 2010 and 2011by 51.8 mn barrels per day and 52.3 mn barrels per day respectively and susbequently face consecutive decline from 2012, according to an analysis by Bank of America-Merrill Lynch (BofAML). The optimism comes from expected production in news fields in Brazil, FSU, Norway, West Africa and Gulf of Mexico. If Iraq and Nigeria supplies increase as announced then crude oil would find it difficult to rise above $100 over the next decade, BofAML ...
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Wall Street shares seen higher

Futures for the Dow Jones industrial average, the S&P 500 and the Nasdaq 100 rose 0.5 to 0.7 percent, pointing to a higher start to Wall Street on Monday.

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