UNITED STATES

Moratorium to cut U.S. oil output 82,000 bpd: EIA

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The U.S. offshore oil drilling ban will reduce crude output by an average of 82,000 barrels per day next year, more than previously estimated, the government's top energy forecaster said on Wednesday.

BP CEO Hayward meets UAE's Mubadala

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BP Chief Executive Tony Hayward met representatives of Abu Dhabi government investment body Mubadala Wednesday after discussions with the Abu Dhabi Investment Authority .
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Borders sees new e-bookstore taking share

Borders Group Inc's electronic bookstore went live on Wednesday, and the company set an ambitious target to secure 17 percent of the digital book market in one year, sending its shares up more than 9percent.
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Timeline: Gulf of Mexico oil spill

Millions of gallons/liters of oil have spewed into the Gulf of Mexico since an April 20 explosion on a drilling rig triggered the worst spill in U.S. history.
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Toyota issues U.S. recall of 139,000 Lexus vehicles

Toyota Motor Corp said on Tuesday it had received reports more than three years ago of faulty engine valve springs at the center of a U.S. recall of nearly 139,000 luxury Lexus vehicles it announced last week.
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Markets up more than 1 pct on banks, energy

Stocks advanced more than 1 percent on Wednesday as a bullish earnings forecast by institutional investor State Street Corp lifted bank shares and higher crude oil prices boosted the energy sector.
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Oil tops $73 on expected U.S. inventory drop

Oil prices rose on Wednesday after six straight sessions of losses, lifted by hopes of a strong earnings season and expectations data will show a drop in U.S. crude inventories.
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Gold recovers as price drop fuels fresh demand

Gold edged higher on Wednesday, rising back above $1,190 an ounce, as fresh demand emerged for the precious metal after its correction from recent record highs, which helped offset pressure from a firmer dollar.
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Roaring outlook for platinum

CPM, a New York-based commodities analysis firm, has predicted that platinum group metals are set to make a roaring investment option in the coming years.
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Gold recovers, but China reserves report weighs

Gold recovered in afternoon trade on Wednesday, but a firmer dollar and a report that China would not make gold a major part of its reserves undermined sentiment. Physical interest in the metal at lower prices and strong chart support after its recent correction helped limit early losses, analysts said.
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Currency hedge will have risk attached to it

After stock markets, bullion and commodities markets, India, is now gearing up for a newer investment asset class - currency futures. Considering the risk and uncertainty involved with volatility in foreign exchange rates, especially for the exporters, hedging in currency futures is now picking up pace among the investors.
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Israel's diamond biz signals boom

Israel is giving tough competition to India's Surat in diamond processing. according to half-yearly figures, Israeli diamond industry is showing clear-cut signs of recovery. In this period, exports and imports of polished and rough diamonds jumped by an average of 104% over the first half of 2009.
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Euro slides from 7-week high versus dollar

The euro fell from seven-week highs against the dollar on Wednesday on concerns about the growth outlook for the global economy and as investors scrutinized details of plans to test the financial health of European banks.
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Oil bounces towards $73 on expected inventory drop

Oil prices rose on Wednesday, pulling up after a losing streak in the past six trading sessions, supported by an expected fall in crude oil inventories in the United States, the world's top energy consumer.
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Amazon launches UK grocery Web site

U.S. online retailer Amazon.com Inc has launched an Internet grocery service in Britain, it said on Wednesday, joining a fast-growing but competitive market.
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Family Dollar posts higher Q3 profit

Family Dollar Stores Inc posted a higher quarterly profit as U.S. consumers continued to seek out cheap food and other everyday items as unemployment remains high, but forecast fourth-quarter earnings below expectations.
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Euro slips from 7-week high as stress tests eyed

The euro slipped off seven-week highs against the dollar on Wednesday on concerns about the global economic recovery and as investors scrutinized details of plans to test the financial health of European banks.
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Gold slips on firmer dollar and China report

Gold eased in Europe on Wednesday, extending the last session's losses, due to a stronger dollar and a report that China would not make gold a major part of its reserves undermined sentiment. Physical interest in the metal at lower prices and strong chart support after its recent correction were likely to limit further losses, analysts said.
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Oil bounces above $72 on expected inventory drop

Oil prices rose on Wednesday, recovering from the losing streak of the past six trading sessions, supported from an expected fall in crude oil inventories in the United States, the world's top energy consumer.
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HSBC clients scrutinized in U.S. tax evasion probe

The Department of Justice has opened a criminal investigation into whether some HSBC Holdings Plc clients may have failed to disclose offshore accounts, lawyers familiar with the probe said on Tuesday.

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