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GE, Rolls stop testing on F-35 alternate engine

General Electric Co and Britain's Rolls Royce Group PLC said on Wednesday they have halted tests on an alternate engine for the F-35 fighter jet after damage was found to some turbine blades, and no timetable was given for the tests to resume.

Daily Forecast- 08/10/2009

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The Aussie dollar pulled back from its early morning highs above 89 cents yesterday dipping to an intraday low of 0.8865 following slightly softer than forecast Home Loan data. The markets insatiable desire for the AUD resurfaced however as it bounced back to eventually exchange at an overnight high near 0.8950, its highest level since early August 2008.

Oil falls toward $69 after U.S. fuel stocks rise

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Oil prices fell toward $69 a barrel on Wednesday after U.S. data showed fuel stocks surged last week in the world's biggest energy consumer, signaling a recovery in oil demand could take more time.
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Text messages may help smokers quit

Smokers who are trying to kick the habit may be able to turn to their cell phones to avoid temptation, a study published Tuesday suggests.
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FTSE down 0.4 pct; oils, food retailers weaken

Britain's top share index eased in mid-session trade on Wednesday, with weakness in energy and food retailers offsetting some strength in miners and banks, as investors await the start of the third-quarter corporate results season in the United States.
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FTSE flat; strong miners offset weak oils

Britain's top share index was flat early on Wednesday as investors paused for breath after the previous session's sharp rise, with gains in miners offsetting weak energy stocks and ahead of the U.S. third-quarter earnings season.
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Daily Commentary and forecasts - 07/10/2009

Investors flocked to the Aussie dollar following yesterday's surprise interest rate increase by the RBA. Despite the central bank having previously provided strong rhetoric pointing to an increase from 3% most analysts had been expecting the first increase in the cycle to come later in the year. The immediate reaction to the news saw the AUD/USD jump from 0.8750 to trade around 0.8850 within an hour and headed into offshore exchange looking to add to the gains.
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Gold sets record high above $1,040 per ounce

Gold surged to a record high above $1,040 per ounce on Tuesday, as investors piled into the metal to preserve the value of their dollar-denominated assets against erosion by a weakening dollar and inflation.
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Oil rises toward $72 on recovery optimism

Oil prices rose toward $72 a barrel on Tuesday as investors bought commodities to hedge against a weaker dollar, and the U.S. government forecast an increase in world oil demand.
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Gold surges to record high

Gold surged to a record high above $1,040 per ounce on Tuesday, with buying fueled by dollar weakness after a report, later denied, that Gulf Arab states were considering abandoning the U.S. currency for oil trade.
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Merritt Parkway in Connecticut among 93 at risk sites

The Merritt Parkway in Connecticut joins a monastery in Bhutan, a church in Chile and a British dockyard among 93 irreplaceable sites at risk from vandalism, neglect, conflict or disaster, the World Monuments Fund said on Tuesday.
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Actor Matt Lucas pulls out of show after ex's suicide

British comedian Matt Lucas has pulled out of a West End play after his ex-partner killed himself, reportedly hours after posting a message on Facebook saying Kevin McGee thinks that death is much better than life.
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Oil jumps above $71 as dollar slips

Oil prices rose more than $1 to above $71 per barrel on Tuesday, helped by a fall in the U.S. dollar after a report Gulf Arab states were in talks to replace the greenback with a basket of currencies in oil trading.
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FTSE up 0.5 pct early on; miners and banks advance

Britain's leading share index rose 0.5 percent early on Tuesday, drawing strength from a rebound on Wall Street overnight, with gains in banks and miners offsetting weakness in defensive telecoms and pharmaceuticals.
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Dollar falls after Australia rate hike; stocks firmer

The dollar fell across the board on Tuesday while world stocks rose after Australia became the first developed economy to raise interest rates in more than a year and data showed the U.S. services sector expanded for the first time since 2008.

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