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Euro hits 7-wk high vs yen, high-yielders rise

The euro hit a seven-week high against the yen on Monday as a rise in shares prompted dealers to unwind long yen positions, but scepticism about the credibility of the euro zone's bank stress tests limited its gains versus the dollar.

Euro rises, Asian shares up after stress tests

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The euro edged up and Asian shares rose on Monday as solid U.S. corporate earnings and surprisingly strong euro zone data offset growing skepticism that stress tests on European banks were not strict enough.

BP CEO to walk away with $18 million: report

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BP Chief Executive Tony Hayward will collect a pay and pension package worth at least 11.8 million pounds ($18.03 million) when he steps down from his role at the company, the Times newspaper reported on Sunday.
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Japan banks likely to post solid Q1 on trading

Japan's three biggest banks are expected to report solid first-quarter results this week, driven by bond trading profits and lower credit costs, but few will see it as a sign of full-fledged recovery as their core lending activities remain sluggish.
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No new recession, let tax cuts die: Geithner

The economy is not likely to slip back into recession but letting tax cuts for the wealthiest Americans expire is necessary to show commitment to cutting budget deficits, Treasury Secretary Timothy Geithner said on Sunday.
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No new U.S. recession, let tax cuts die: Geithner

The U.S. economy is not likely to slip back into recession but letting tax cuts for the wealthiest Americans expire is necessary to show commitment to cutting budget deficits, Treasury Secretary Timothy Geithner said on Sunday.
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Europe's media react to bank stress test results

Just seven European banks failed a health check and were ordered to raise their capital by 3.5 billion euros ($4.5 billion), confirming fears the continent's long-awaited stress test was too soft.
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U.S. bank failures reach 103 so far this year

U.S. bank failures reached 103 so far in 2010 on Friday as regulators seized seven small banks, a faster pace of closures than last year when the century mark was not reached until October.
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Stocks on brink of breakout

Wall Street enters next week on the cusp of a breakout in U.S. stocks, but it will need another spate of convincing earnings reports to feed the rally that sprouted at the end of this week.
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Seven banks fail Europe stress test

Just seven European banks failed a health check and were ordered to raise their capital by 3.5 billion euros ($4.5 billion), much less than expected, confirming fears the continent's long-awaited stress test was too soft.
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Pay czar names 17 firms for ill-advised pay

Seventeen financial firms made ill-advised payments to executives totaling $1.6 billion while taxpayers were bailing them out, U.S. pay czar Kenneth Feinberg said on Friday.
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Goldman coughs up counterparties on AIG hedge

Morgan Stanley , Citigroup and JPMorgan Chase were among banks that sold Goldman Sachs protection against the risk of a collapse of giant insurer American International Group , a source familiar with the matter said on Friday.
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GE and profits boost Wall Street

General Electric delivered a shot of confidence to U.S. investors when it raised its dividend on Friday, pushing the S&P 500 through the key 1,100 level.
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Manufacturers continue streak of profit beats

Honeywell International Inc and Ingersoll-Rand Plc raised their 2010 profit forecasts and General Electric Co boosted its dividend in moves that underlined U.S. manufacturers' growing confidence in the economic recovery.
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Seven banks fail Europe's stress test

Seven European banks are not strong enough to withstand another recession and would face a capital shortfall of 3.5 billion euros ($4.5 billion), far less than expected, stoking fears the keenly-awaited stress tests were too soft.
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Chasing Beach Season Around the World

In many parts of the world, summer vacation season starts winding down at the end of August. Beach trips come to a halt as people start getting back to the daily grind for the push toward Christmas.

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