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Gold claws back after overnight plunge

Gold prices recovered in Asian trade Wednesday after an overnight plunge of nearly two percent mainly on global stocks rally. Gold for immediate delivery was seen trading at $ 1163.51 an ounce at 12.00 noon Singapore time after hitting a near three-month low on Tuesday.

Asian stocks and euro ease on profit-taking

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The euro slipped from 11-week highs and Asian stocks marked time on Wednesday as a recent rally lost steam after a drop in U.S. consumer confidence, while the Australian dollar fell on a sharp slowdown in inflation.
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IMF drops substantially undervalued yuan tag

Several directors of the International Monetary Fund's Executive Board believe the yuan is undervalued, but an annual report on China made no mention of the exchange rate being substantially below value.
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BP CEO change won't diminish Gulf response: govt

The top U.S. official overseeing the response to BP Plc's Gulf of Mexico oil leak said on Tuesday he doesn't expect the company's commitment to cleaning up the spill to be diminished with its change in leadership.
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Hackers to get eavesdropping lessons on cell calls

A security expert said he has devised a simple and relatively inexpensive way to snoop on cellphone conversations, claiming that most wireless networks are incapable of guaranteeing calls won't be intercepted.
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Stocks sag on consumer confidence

The S&P snapped a three-day winning streak on Tuesday after mixed earnings reports and a fall in consumer confidence, but analysts said U.S. stocks were taking a breather and the rally could pick back up.
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Stocks slip on consumer confidence

The S&P snapped a three-day winning streak on Tuesday after mixed earnings reports and a fall in consumer confidence, but analysts said U.S. stocks were taking a breather and the rally could pick back up.
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Stocks dinged by consumer data

The S&P snapped a three-day winning streak on Tuesday after mixed earnings reports and a fall in consumer confidence, but analysts said U.S. stocks were taking a breather and the rally could pick back up.
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Winemakers shun social media grapevine

More than 80 percent of the 532 French winemakers surveyed by online marketing company mysocialwinery.com said they did not blog or use Facebook, Twitter or other websites that allow consumers to comment, recommend, track or question wine producers.
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BP's ousted chief won't testify to Senate

BP Plc's ousted chief executive, Tony Hayward, will not testify to a Senate committee examining whether the oil giant influenced the release of the Lockerbie bomber, Senator Robert Menendez said on Tuesday.
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Toyota pushes back U.S. Prius production by years

Toyota Motor Corp has pushed back plans to build its Prius in the United States by as much as six years, with a top executive saying U.S. production is likely to start only when the best-selling hybrid is remodeled.
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U.S. local govts warn: More jobs will be axed

Local government revenue has dwindled so severely that U.S. cities and counties will have to cut hundreds of thousands of jobs in the coming months, leaving communities without basic services and pressuring jobless rates.
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Americans want Obama to focus more on jobs

Americans by a large majority believe President Barack Obama has not focused enough on job creation, as economic fears threaten Democrats ahead of November 2 elections

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