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Exclusive: ResCap auction advances but hurdles remain

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An auction of Ally Financial's Residential Capital has advanced into the second round, with some would-be buyers circling the assets, but a sale of the mortgage lender faces hurdles, sources familiar with the matter said.
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Stocks climb on home sales data

An upbeat outlook from FedEx, coupled with encouraging home sales, lifted U.S. stocks on Monday, keeping the S&P 500 above 1,100 for a second day and suggesting the rally could last.
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Google unveils government version of software

Google Inc released a special version of its Web-based productivity software designed to meet stringent U.S. government security requirements, as the Internet search giant seeks to outmaneuver rivals in the race to provide federal and state agencies with new technology.
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Vivendi argues for dismissal of a jury verdict

A potential multibillion-dollar judgment against Vivendi SA for misleading shareholders hung in the balance as a Manhattan judge weighed whether a recent U.S. Supreme Court ruling limited damages.
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AT&T to fix glitch affecting iPhone speeds

AT&T Inc plans in the next two to three weeks to gradually fix a software defect that cut speeds for customers sending data from the Apple Inc iPhone 4 and from laptop modems.
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AT&T to fix data network glitch in weeks

AT&T Inc plans in the next two to three weeks to gradually fix a software defect that cut speeds for customers sending data from Apple Inc iPhone 4 and from laptop modems.
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Madoff trustee could sue 1,000 Ponzi victims

The trustee overseeing the liquidation of Bernard Madoff's investment firm might sue about 1,000 victims whom he believes profited improperly from doing business with the now-imprisoned Ponzi schemer.
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Home sales surge in June

Sales of new U.S. single-family homes rebounded strongly in June from the prior month's record low, pushing the number of houses on the market to the lowest level in nearly 42 years.
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Wall Street rallies on FedEx, home sales data

Stocks advanced on Monday after a rosy outlook from FedEx and strong home sales data fueled optimism, helping the S&P 500 stay above a key resistance level that could confirm Wall Street may be back in bullish mode.
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Oil steady as data supports after storm fizzles

Oil prices seesawed near unchanged levels on Monday as stronger-than-expected U.S. home sales data lifted prices even as energy companies restarted production after Tropical Storm Bonnie fizzled. U.S. crude for September delivery slipped 12 cents to $78.86 a barrel by 12:49 p.m. EDT, having seesawed between $78.06 and $79.33.
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Instant view: New home sales exceed forecasts for June

Sales of new U.S. single-family homes rebounded strongly in June from the prior month's record low, government data showed on Monday, driving the number of houses on the market to their lowest level in nearly 42 years.
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Forex trade bounces back in major financial centers

Daily foreign exchange trading turnover in London, Tokyo and New York soared in the latest year, bouncing back sharply from a crisis-induced decline, data released on Monday showed. Average daily volume in Britain jumped to $1.747 trillion in the year to April 2010, up 31 percent, the Bank of England said. It rose 15 percent compared with volume in October 2009.
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Oil rises above $79 on strong U.S. housing numbers

Oil rose on Monday after a surge in new U.S. home sales cut the number of houses on the market to the lowest level in more than four decades, easing fears the post-crisis economy could slide into a second recession.
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US daily FX turnover up 11.8 pct in April vs Oct-Fed

Average daily volume in the over-the-counter U.S. foreign exchange market rose to $754 billion in April, up 11.8 percent from six months earlier, the Federal Reserve Bank of New York said on Monday. The total was just shy of record turnover of $762 billion seen in the six months to October 2008. The Fed said volume across all instrument types and execution methods and among most currency pairs rose in the latest reporting period.

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