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Wall Street set for higher open on earnings

Stocks were poised for a higher open on Wednesday as solid earnings from technology giant Apple as well as financials Morgan Stanley and Wells Fargo tempered growth worries.

AIA IPO adds Goldman to list of top handlers: sources

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American International Group Inc is set to elevate Goldman Sachs Group Inc to the top role for handling the initial public offering of its Asian life insurance unit, sources said on Wednesday, a deal that could raise around $15 billion.

BP denies CEO leaving as it readies asset sales

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BP denied a report its embattled chief executive would leave soon, as it lined up $7 billion in asset sales to help pay for the worst oil spill in U.S. history, lifting its shares on Wednesday.
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SEC knew about repos accounting before Lehman: report

The U.S. securities regulator was aware of Wall Street's potentially questionable accounting practice of classifying repurchase agreements as sales instead of borrowings long before the collapse of Lehman Brothers raised the issue, the Wall Street Journal reported on Wednesday.
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Oil steady near $77.50

Oil held steady near $77.50 on Wednesday, as rising stock markets and a forming Atlantic storm countered mixed U.S. inventories and disappointing housing data. U.S. crude for September, the front month-contract after Tuesday's expiry of August, rose 5 cents to $77.63 a barrel at 0653 GMT (2:53 a.m. EDT). ICE Brent gained 3 cents to $76.25.
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Oil steady near $77.50 as eyes equities, storm and supplies

Oil held steady near $77.50 on Wednesday, as rising stock markets and a forming Atlantic storm countered mixed U.S. inventories and disappointing housing data. U.S. crude for September, the front month-contract after Tuesday's expiry of August, shed 10 cents to $77.48 a barrel at 12:06 a.m. ET. ICE Brent fell 14 cents to $76.08.
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Nikkei inches down as yen, economic worries weigh

Japan's Nikkei average inched down 0.2 percent on Wednesday, weighed down by worries about a stronger yen and doubts over the U.S. economic recovery as the market awaited events later this week, including the results of European bank stress tests.
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Gold ticks lower as equities jump

Gold edged down on Wednesday as investors shifted some of their money into firming equities, while a drop in ETF holdings could prompt more selling as bullion struggles to hold above $1,190 an ounce. Although purchases from jewelers offered some support, trading was thin ahead of euro zone bank stress test results this week, which some analysts say could soothe concerns about how European banks would cope with deterioration in the region's economy and financial markets.
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Euro inches up against dollar

The euro inched up against the dollar on Wednesday, after being knocked from a 10-week high above $1.3000 the previous day due to profit-taking ahead of euro zone bank stress test results this week. Traders were also looking to Federal Reserve Chairman Ben Bernanke's semi-annual testimony before Congress on Wednesday and Thursday, with investors listening for any comments that could boost speculation about more monetary accommodation.
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Euro licks wounds, Bernanke in focus

The euro inched up against the dollar on Wednesday, after being knocked from a 10-week high above $1.3000 the previous day due to profit-taking ahead of euro zone bank stress test results this week. Traders were also looking to Federal Reserve Chairman Ben Bernanke's semi-annual testimony before Congress on Wednesday and Thursday, with investors listening for any comments that could boost speculation about more monetary accommodation.
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Gold slips in Asia on rising stocks

Gold prices eased in thin Asian trade Wednesday mainly on rising stocks despite the euro edged up against the dollar. Gold for immediately delivery was seen trading at $ 1190.64 an ounce at 11.30 a.m Singapore time while U.S. gold futures for August delivery was at $1,191.4 an ounce on the Comex division of the New York Mercantile Exchange
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Asia shares rise on Apple earnings and China

Asian stocks rose on Wednesday as investors cheered Apple's strong earnings and on optimism that China may roll back policy tightening measures later this year, while the euro firmed ahead of euro zone's bank stress test results late in the week.
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BP CEO reported to leave soon

BP Chief Executive Tony Hayward will step down within the next 10 weeks, the Times newspaper reported, as the company battles to remain independent after the worst oil spill in U.S. history.
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BP to sell $7 billion in assets to Apache

BP Plc said on Tuesday it reached a deal to sell $7 billion in assets to Apache Corp as the British oil company raises money to cover costs related to the oil spill in the Gulf of Mexico.
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Yahoo revenue misses Wall Street expectations

Yahoo Inc missed Wall Street's revenue estimates in the second quarter as some customers unexpectedly cut spending on online display ads toward the end of June, and shares fell more than 6 percent.
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Countrywide VIP program larger than disclosed: lawmaker

More than 40 employees at mortgage finance giants Fannie Mae and Freddie Mac received special perks on mortgage loans from Countrywide as part of its former CEO's special VIP program, a top Republican U.S. lawmaker said on Tuesday.
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Australian Dollar Outlook 21/7/2010

The Australian Dollar has opened higher after the Reserve Bank of Australia (RBA) said the next rate movement was all but dependent on official inflation data due next week.
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Daily Forex Commentary 21/7/2010

The Aussie sprung to life either side of the Reserve Bank release of the July board meeting minutes moving to an intraday high of 0.8745 before slipping back towards US87 cents.
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Nokia Siemens wins $7 billion U.S. deal

Nokia Siemens Networks has won an eight-year contract worth more than $7 billion with an upstart U.S. operator looking to build a high-speed wireless network to offer wholesale services in the fiercely competitive market.

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