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Daily Wrap Up - July 28 - Energy

China and the United States signed a memorandum promising greater cooperation in tacking climate chaneg, energy and the environment. BP Plc and Valero Energy Corp. reported earnings for the second quarter reflecting the economic downturn has hit hard the oil industry.

RioCan eyes acquisition in Canada by year end: CEO

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RioCan Real Estate Investment Trust is looking at acquisition opportunities in Canada in the short term and will likely close a deal by the end of the year, Chief Executive Edward Sonshine said in an interview with Reuters.
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U.S. takes center stage in EU hedge fund row

Debate over controversial EU laws on hedge funds shifted to the United States on Monday as a key industry body warned of protectionist aspects of the rules which have prompted Washington to lobby for changes. The Alternative Investment Management Association said the planned laws on alternative investment funds create potentially major difficulties and loss of business for funds and investors...
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Teen escapes jail over bomb hoax

A British teen-ager who phoned the White House and claimed as part of a drunken prank that there was a bomb in the center of New York, escaped jail on Monday.
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U.S. takes centre stage in EU hedge fund row

Debate over controversial EU laws on hedge funds shifted to the United States on Monday as a key industry body warned of protectionist aspects of the rules which have prompted Washington to lobby for changes. The Alternative Investment Management Association said the planned laws on alternative investment funds create potentially major difficulties and loss of business for funds and investors...
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Friends breaks off Resolution talks

British life insurer Friends Provident said on Monday it had ended talks with would-be acquirer Resolution after rejecting a fresh takeover approach from the Guernsey-based bid vehicle over the weekend.
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Weekly Market Watch - Monday, 27 July 2009

Strong US corporate earnings and positive daily finishes in global equity markets along with a mixed bag of US economic data saw the Greenback lose ground against the Pound and EURO but hold steady against the YEN.
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Ryanair Q1 earnings up 550 percent

Irish airline Ryanair on Monday posted a better-than-expected 550 percent rise in first quarter profit thanks to a large reduction in fuel costs but said its outlook remained cautious for the rest of the year.
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Contador wins Tour de France 2009 (Top 10 Standings)

Spain's Alberto Contador won this year's Tour de France on Sunday, his second win in cycling's premier event by more than four minutes, ahead of Luxembourg's Andy Schleck and beating out seven-time winner Lance Armstrong of the U.S. who was making a comeback three and a half years after retiring.
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Fewer offshore oil/gas wells seen drilled in 2009

The number of new offshore oil and gas exploration wells will shrink by about 15 percent in 2009, as lower crude prices curb investments and hit smaller oil and gas producers, according to data from Derrick Petroleum Services.
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Equities to sail higher to year end: chartists

Global equity markets will consolidate gains this summer with chartists predicting that a sharp rise since March has run its course for now, but technical signals have set the stage for another rally into year-end.
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World stocks push up to 9-month highs

World stocks pushed up to 9-month highs on Friday, cutting demand for government bonds as euro zone manufacturing and services reports beat expectations, fuelling optimism about economic recovery.
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Vodafone reports in-line sales, reiterates outlook

Vodafone , the world's largest mobile phone firm by revenues, reported a slight decline in organic sales, in line with muted market expectations, as strength in India and Africa compensated for European weakness.
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Daily Forex Commentary Thursday, 23 July 2009

The Australian Dollar opens largely unchanged at 0.8160 after the domestic market's insipid reaction to yesterday's local inflation data which picked up in the June quarter by 0.5 per cent for a lower annualised reading of 1.5 per cent. With the CPI rate beneath the Reserve Bank's target range of 2-3 per cent, the door remains open for another interest rate cut should the need arise.
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Corporate earnings boost recovery hopes

Better-than-expected company results, improving French business confidence and a pick-up in UK retail sales offered some evidence on Thursday that stimulus spending was helping to ease the global economic downturn.
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Gas could power Britain well into winter

Weak prices and sagging demand could see gas supply most of Britain's electricity well into winter, sidelining coal plants and cutting Britain's carbon emissions as a welcome side effect.
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Forex Daily Commentary - 23/07/2009

The Australian Dollar opens largely unchanged at 0.8160 after the domestic market's insipid reaction to yesterday's local inflation data which picked up in the June quarter by 0.5 per cent for a lower annualised reading of 1.5 per cent.
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Central banks cautious on credit, U.S. banks disappoint

Japan hinted on Wednesday it might do more to ease credit and Britain awaits more data before doing the same, while disappointing earnings from Morgan Stanley and Wells Fargo tempered optimism Wall Street can extend its recent rally.

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