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Icelandic president says won't sign Icesave bill

Iceland's president said on Tuesday he would not sign into law a bill to repay more than $5 billion lost by savers in Britain and the Netherlands when the island's banks collapsed, creating fresh political turmoil for the crisis-hit country. President Olafur Grimsson's rejection of the bill is seen putting aid from international lenders, as well as aspirations to join the European Union, in ser...

UK to consult Iceland over Icesave referendum

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Britain said it wanted Iceland to rapidly resolve the issue of compensation for the failure of Icelandic bank Icesave, after the North Atlantic island's President Omar Grimsson refused on Tuesday to sign a bill authorising this.
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Stock futures point to weaker start

Futures for the Dow Jones industrial average, the S&P 500 and the Nasdaq 100 fell 0.02 to 0.2 percent, pointing to a weaker start on Wall Street on Tuesday.
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Kraft ups cash part of Cadbury bid, helped by Nestle

Kraft Foods Inc on Tuesday said it was raising the cash portion of its hostile 10 billion pound ($16 billion) takeover offer for Britain's Cadbury Plc by 60 pence per share, funded by a deal to sell its North American pizza unit to Swiss food giant Nestle.
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Global factory output picks up steam in December

Chinese manufacturing grew at its fastest pace on record in December, data showed on Monday, while U.S. factories marked their best month in nearly four years, suggesting more improvement in the world economy.
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Global factory PMI jumps to near 4-year high

Global factory business activity grew at its fastest pace in nearly four years in December as new orders growth accelerated at a rate not seen in more that five and a half years, a survey showed on Monday.
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Daily Forecast - 5/1/2010

The Australian Dollar opens higher on Tuesday at US91 cents as the greenback dropped across the board overnight.
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Oil jumps more than 2 percent on cold weather

Oil rose more than 2 percent to touch two-month highs over $81 a barrel on Monday as cold weather battered the United States and other big consumer regions, driving up demand for heating fuel.
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Decrepit London landmark shows property pain

A gust of wind howls around Battersea Power Station, an industrial wasteland by the Thames whose coal-fired furnaces were once used by the Bank of England to burn millions of pounds worth of banknotes.
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No smoking gun in airplane plot:White House

A top White House official said on Sunday the plot to bomb a Detroit-bound plane on Christmas Day exposed errors but he played down the need for a sweeping overhaul of the U.S. security system.
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Key 2010 political risks in W.Europe

Whether Europe's most troubled economies have the political will to tackle record deficits will preoccupy investors in Western Europe in 2010, along with Britain's election and potential overspill from emerging market crises.
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Asia stocks climb on growth hopes

Financial markets were upbeat on the first trading day of 2010 on Monday, with Asian stocks hitting a 17-month high and the U.S. dollar up against major currencies on hopes U.S. job figures this week will reflect a sustained economic recovery.
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FX Market Watch - 04/01/2010

EUR/USD opened lower trading in a limited range during the shortened holiday week. The pair made a weekly high on Tuesday trading up to 1.4457 after release of U.S. housing data from S&P/Case-Shiller showed a 0.4% rise to a seasonally-adjusted 145.36 in October. The index was off 7.3% versus October of last year, slightly worse that the market's -7% Y/Y consensus. Also on Tuesday, European Central Bank Governing Council member and Luxembourg Central Bank head Yves Mersch wrote in a New Year's me...
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Daily Forecast - 4/1/2010

The Australian Dollar opens slightly higher on Monday at 0.8980. Traders squaring up for the New Year kept the Aussie in a tight range last Thursday against its U.S. counterpart.
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Icelanders petition president to veto Icesave bill

Nearly a quarter of Icelandic voters have signed a petition asking their president to veto a bill on repaying $5 billion lost by British and Dutch savers when the island's banks collapsed, organizers said on Saturday.
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BAE bribery suit may be taken to Supreme Court

A pension fund may ask the Supreme Court to let it sue BAE Systems Plc in the United States over allegations that the company paid more than $2 billion in bribes to win a record Saudi arms deal, the fund's lead attorney said on Friday.

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