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Moody's cuts BofA mortgage servicing ratings

Bank of America Corp's mortgage servicer quality ratings were downgraded by Moody's on Tuesday, because of a deterioration in the company's collections and loss mitigation on home loans.

CBS results beat forecasts

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CBS Corp reported stronger-than-expected quarterly results, helped by healthy ad sales and higher profit margins, and doubled its dividend.

The Phone Call that Toppled Osama

When one of Osama Bin Laden's aides made a phone call last year, he unwittingly led U.S. pursuers to the doorstep of his boss, the world's most wanted terrorist.
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Steeler's Mendenhall criticized for Tweets about bin Laden

Pittsburgh Steelers halfback Rashard Mendenhall remained a target of sharp criticism by Twitter users on Tuesday after he posted a message questioning whether news that al Qaeda leader Osama bin Laden was killed should be cheered.

Osama unarmed when killed: US official

Osama bin Laden was unarmed when US commandoes stormed his compound in northern Pakistan and shot him to death on Sunday, according to new details provided by the U.S government.
House Majority Leader Rep. Steny Hoyer, D-MD.

US aid to Pakistan should be suspended: lawmakers

At least one lawmaker has suggested that US aid to Pakistan – amounting to billions of dollars since September 11, 2001 – should be suspended until Pakistan explains why Osama bin Laden was found in a mansion located just 30 miles outside the nation’s capital.
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Factories busy in March, car sales up

U.S. factory orders surged in March, posting a fifth straight monthly increase that showed a healthy manufacturing sector well placed to support economic recovery.
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Disney sues Dish Network over free Starz offer

Walt Disney Co filed a copyright suit against satellite television operator Dish Network Corp for distributing popular movies including Disney's Toy Story 3 and Alice in Wonderland on a free tier for Dish subscribers.
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MasterCard profit jumps as consumers spend more

MasterCard Inc's first-quarter profit rose 24 percent, beating expectations, as people around the world spent more money and U.S. consumers even started using their credit and debit cards to buy more than the necessities.
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House panel OKs new way to fund home mortgages

A bill to create a new market for financing mortgages that would help wean the $10.6 trillion mortgage market off government support advanced in the House of Representatives on Tuesday.
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Commodity losses pressure stocks

Stocks fell on Tuesday, led by commodity-related shares, and investors saw further losses in these sectors, which have gained the most in the recent rally.
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Nokia's chairman to step down next year

Nokia, the world's largest phone maker by volume, has started to look for a new chairman to succeed long-time leader Jorma Ollila, who will step down next year.

Should Bush Get Credit for Bin Laden's Death?

When it comes to handing out credit for the killing of Osama Bin Laden, some are saying President George W. Bush should get some, although when his time came to speak, the former President didn't mention himself and congratulated President Obama, the military and intelligence personnel.
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Pfizer drug sales fall, lower-margin units shine

Pfizer Inc reported disappointing revenue for Lipitor and other medicines, exposing the risks the world's biggest drugmaker faces if it sells better-performing units like its nutritional products business.
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Deutsche Bank faces U.S. mortgage fraud lawsuit

The United States sued Deutsche Bank AG, accusing the German bank and its MortgageIT Inc unit of repeatedly lying to be included in a federal program to select mortgages to be insured by the government.

CIA chief admits US officials didn’t trust Pakistanis

The director of the US Central Intelligence Agency admitted that American officials kept their Pakistani counterparts in the dark about the operation to kill Osama Bin Laden because they feared the plan would be jeopardized.

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