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Dollar weakens on U.S. data

The dollar hovered near a 2- month low and the Nikkei slumped amid weak Asian stock markets as the outlook for the U.S. economic recovery worsened.

U.S. advisers reject Vivus' fat pill

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The first new prescription weight-loss pill in more than a decade failed to win backing from U.S. health advisers, who said safety concerns about the drug outweighed its ability to help obese patients shed pounds.

Daily Forex Commentary 16/7/2010

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Hot on the heels of the FOMC downgrade of U.S GDP softer than expected Chinese data triggered a selloff of higher yielding Currencies in Asia as concerns over the potential slowdown in global growth resurfaced.
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KKR shares slip 3 percent in long-awaited debut

The long-anticipated U.S. stock debut of Kohlberg Kravis Roberts & Co proved a disappointment on Thursday as investors shied away from the private equity firm that made its name with the leveraged buyout of RJR Nabisco in 1988.
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U.S. judge dismisses suit filed by GE shareholders

A U.S. judge dismissed a lawsuit against General Electric Co on Thursday that accused the largest U.S. conglomerate of failing to warn investors of the 2008 profit drop that marked the beginning of a two-year downturn for the company.
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Wall Street reform clears Congress

The Congress on Thursday approved the broadest overhaul of financial rules since the Great Depression and sent it to President Barack Obama to sign into law.
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Google profit misses Wall Street view

Google Inc missed Wall Street's profit estimates in its second quarter after a spike in expenses offset a 24 percent revenue jump, a rare stumble for a company accustomed to shattering financial expectations.
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Jobless claims fall, manufacturing stumbles

New U.S. claims for jobless benefits tumbled to a near two-year low last week, but a modest gain in industrial output and a third monthly drop in wholesale prices in June confirmed a slackening in the economy's recovery.
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Carlyle strikes $3.8 billion deal for NBTY

Carlyle Group struck a $3.8 billion deal on Thursday to buy U.S. nutritional supplements maker NBTY Inc , beating several other buyout firms to clinch one of the biggest private equity deals so far this year.
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Vivus says weight loss with pill unprecedented

Vivus Inc, hoping to win approval to sell the first new prescription diet drug in more than a decade, told U.S. medical advisers on Thursday its weight-loss pill gives patients a safe option for shedding pounds and improving their health.
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JPMorgan beats Street

JPMorgan Chase & Co posted better-than-expected quarterly earnings on Thursday as it wrote off fewer bad loans in the second quarter, but executives warned they were uncertain about the economic outlook for the rest of the year.
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JPMorgan took more risk in Q2 commodities

JPMorgan Chase & Co raised its commodity trading risk in the second quarter, the first time in nine months, but earned less from the sector as prices fell and the bank lost out on a large coal bet.
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Vivus' weight-loss drug faces key U.S. test

The first potential U.S. prescription weight-loss pill in more than a decade could move closer to market on Thursday if it can overcome safety hurdles that have plagued diet drugs for years and led to tepid sales despite the growing number of obese Americans.
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Senate approves sweeping Wall St reform bill

The Senate on Thursday by a vote of 60 to 39 approved the most sweeping overhaul of bank and capital market regulation in decades, sending it on to President Barack Obama to be signed into law.
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U.S. political fundraiser gets 12 years for bank fraud

Hassan Nemazee, an Iranian-American businessman who raised money for the political campaigns of Barack Obama and Hillary Clinton, was sentenced to 12 years in prison for defrauding Bank of America Corp, Citigroup Inc and HSBC Holdings Plc out of $292 million.
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Vivus weight-loss drug faces key U.S. test

Vivus Inc, hoping to bring to market the first new prescription diet drug in more than a decade, told U.S. medical advisers on Thursday that its weight-loss pill gives patients a safe option for shedding pounds and improving their health.
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Toyota to fix over 735,000 cars outside recall

Toyota Motor Corp said on Wednesday it will extend warranties on about 235,500 RAV4 vehicles and address steering complaints on as many as 500,000 late model Matrix and Corollas in the United States.
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Ford names Farley head of global marketing, sales

Ford Motor Co has named Jim Farley its first head of global marketing, sales and services and appointed the head of Volvo to run its European operations when it completes the sale of the unit to China's Geely

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