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Alcoa profit tops estimates but revenue misses

Alcoa Inc , the largest U.S. aluminum producer, reported a first-quarter profit that beat estimates, but its revenue missed Wall Street's target and its shares dropped 3 percent in after-hours trading on Monday.

Rajaratnam ran a tight ship at Galleon: witness

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Raj Rajaratnam demanded discipline at his Galleon hedge fund, fined late-comers to his morning meetings $25 and never asked any company for inside information, one of his former top lieutenants testified.

World Market Overview Report 04/12/2011

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U.S. blue-chip stocks eked out a slim gain Monday but other market measures fell slightly as investors traded cautiously ahead of the first quarter corporate earnings season.The Dow Jones Industrial Average closed up 1.06 points, or 0.01%, at 12381.11. The Nasdaq Composite shed 8.91, or 0.32%, to 2771.51. The Standard & Poor's 500-stock index slipped 3.71, or 0.28%, to 1324.46. The mixed activity came as investors looked ahead to the first-quarter earnings season, which kicked off unoffic...
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Chevron sees profit up in first quarter

Chevron Corp , the second-largest U.S. oil company, expects better earnings in the first quarter than in the previous quarter, helped by higher oil prices and stronger refining margins.
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Fed to stick with low rates, despite oil price rise

Two of the Federal Reserve's most powerful officials said on Monday the U.S. central bank should stick to its super-easy monetary policy, arguing inflation is not a threat and unemployment remains too high.
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Oil retreats after surge on demand concerns

Oil prices slumped on Monday, pulling back from 32-month peaks on concerns about high prices eroding demand and threatening economic recovery as investors eyed attempts to halt Libya's conflict.
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Rajaratnam defense targets witness credibility

Lawyers for Galleon hedge fund founder Raj Rajaratnam called two witnesses at his insider trading trial on Monday in an effort to undermine the credibility of a former employee who testified against him.
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UBS fined for misleading clients about Lehman debt

UBS AG was ordered by a U.S. regulator to pay nearly $11 million in fines and reimbursements to compensate investors it misled about the safety of debt issued by Lehman Brothers Holdings Inc before that bank went bankrupt.
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Oil below $126 on mixed signals over Libya talks

Oil prices fell on Monday in choppy trading, pulling back after surging to 32-month peaks last week when the dollar swooned and as investors warily eyed an African Union plan to halt Libya's conflict.

Boehner: 2012 Budget Leads Where Obama Failed

House Speaker John Boehner on Monday said that the Republican proposal for the 2012 budget leads where the Obama administration failed by taking on challenges facing healthcare, retirement and energy to create jobs.
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Facebook Entering China: Impact on Baidu

It is widely reported that Facebook has obtained a license to operate in China and most likely, the operation will be done through a joint venture with Chinese internet giant Baidu.

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