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Strong German business sentiment boosts euro

The euro rose on Friday after a survey showed German business sentiment posted a record jump in July to its highest level in three years, and corporate results lifted stocks ahead of European bank stress tests results.

Gold cools ahead of Europe bank stress test result

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Gold prices eased in Asian trade Friday as traders await the outcome of European bank stress test. Gold for immediate delivery was seen trading at $1194.47 an ounce at 12.00 noon Singapore time while U.S. gold futures for August delivery was at $1,194.4 an ounce on the Comex division of the NY Mercantile Exchange.
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Gold ticks down ahead of euro zone bank stress tests

Gold slipped on Friday despite gains in equities as investors took to the sidelines before the release of European bank stress test results, which seek to restore confidence in the euro zone banking sector. Major listed lenders are expected to pass, while the tests may show the biggest problems lie with smaller, mainly unlisted players like Germany's Landesbanks and Spain's cajas.
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Daily Forex Commentary 23/7/2010

After looking vulnerable to more downside in Asia yesterday the Aussie dollar found intraday support at 0.8735 going on to reverse its trajectory and rally during the European time-zone to retest what had been strong resistance around 0.8750.
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U.S. industrial earnings boost recovery hopes

Caterpillar Inc , UPS and other U.S. multinationals reported strong quarterly results on Thursday, suggesting the global economy may be on a stronger footing than previously thought.
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GM to buy AmeriCredit for $3.5 billion

General Motors Co plans to buy auto finance company AmeriCredit Corp for $3.5 billion in a cash deal financed by government bailout money and aimed at removing a major investor concern before a planned IPO.
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Job creation trumps deficit reduction in poll

American voters overwhelmingly say lowering unemployment is more important than reducing the federal budget deficit, according to a Quinnipiac University poll released on Thursday.
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Baidu may press claims over hackers: U.S. judge

China's leading search engine, Baidu Inc, can sue its U.S.-based domain name service provider, Register.com Inc, for breach of contract, gross negligence and recklessness related to an attack by hackers, a U.S. judge ruled on Thursday.
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Court throws out Mattel win over Bratz doll

A federal appeals court said Mattel Inc was wrongly granted ownership of the popular Bratz dolls, a decision that could lead to a new trial over control of the estimated $1 billion franchise.
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U.S. court throws out Mattel win over Bratz doll

A federal appeals court said Mattel Inc was wrongly granted ownership of the popular Bratz dolls, a decision that could lead to a new trial over control of the estimated $1 billion franchise.
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Industrial earnings boost recovery hopes

Strong results from major U.S. multinationals such as Caterpillar Inc and UPS suggest the global economy may be on a stronger footing than previously thought.
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EU banks set to disclose government bond holdings in test

European banks are expected to disclose holdings of doubtful government debt in stress test results to be released on Friday, although sources said there was some last-minute haggling among German banks over how much to reveal.
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Wall Street bounces back on company results

Stocks climbed on Thursday, bouncing back from the prior session's losses, after major companies, including UPS and 3M, reported strong revenues, easing investor concerns about future growth.
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Air show orders fuel economy hopes

Europe's Airbus pronounced the recession over on Thursday after wrapping up a busier-than-expected Farnborough Airshow with a $3 billion-plus order for dozens of jets from Virgin boss Richard Branson.
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Airline results affirm recovery on track

Airline results on Thursday provided new evidence that the industry recovery is on track, driving shares higher, but the bumpy economy prompted an outlook for slow progress.
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NY sues BofA, Merrill to pursue higher award

New York has sued Bank of America Corp and its Merrill Lynch & Co unit over the companies' merger and Merrill's subprime mortgage exposure, hoping to recover more by suing on its own than by joining existing class-action litigation.
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Bernanke says further easing hinges on jobs

The Federal Reserve may try to push borrowing costs even lower if the job market continues to languish, Fed Chairman Ben Bernanke said on Thursday, offering a hint of what might trigger additional monetary easing.
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Scam artists target victims of Gulf oil spill

An e-mail scam featuring someone purporting to be BP Plc's Chief Executive Tony Hayward is targeting victims of the company's massive Gulf of Mexico oil spill, Florida's attorney general said on Thursday.
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Economy still on recovery path: Fed's Dudley

U.S. economic growth is looking far less robust than the U.S. central bank would like, but bumps in the road are unlikely to derail the recovery, a top Federal Reserve official said on Thursday.
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Emerging markets boost industrials' bottom line

Industrial companies, including Caterpillar Inc and 3M Co , credited demand from emerging markets like China for another round of stronger-than-expected quarterly results and improved 2010 forecasts.

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