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BofA reclaims top spot, ICBC leads profit: study

Bank of America has leap-frogged U.S. rival JPMorgan to rank as the world's top bank in terms of capital strength while Industrial and Commercial Bank of China tops the profit league, according to a new study.

Derivatives laws could cost companies $1 trillion: ISDA

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U.S. companies could face as much as $1 trillion in additional costs as a result of new laws designed to reduce risks in the $450 trillion, privately traded derivatives market, a derivatives trade group said on Tuesday.
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Wall St sinks as economic alarm escalates

Investors fled the U.S. stock market on Tuesday and the S&P 500 tumbled to its lowest level in eight months in a sell-off triggered by a wave of increasing alarm over the global economic outlook.
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Companies can boost 401(k)s at same cost

Employees in company retirement plans know they should set money aside but still fall short with their savings -- and employers could help them save more without increasing company costs, a study has found.
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Crisis panel to examine Goldman, AIG ties

Goldman Sachs and bailed out insurer American International Group face a rough two days of questioning about the destructive relationship that contributed to the 2008 financial crisis.
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GM trumpets its turnaround to investors

General Motors has revamped the way it operates, with sharply lower costs, stronger brands and gains in key emerging markets like China, Chief Executive Ed Whitacre said in a pitch for the company's planned IPO.
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Wall St sinks on economic alarm

Investors fled the U.S. stock market on Tuesday and the S&P 500 tumbled to its lowest level in eight months in a sell-off triggered by a wave of increasing alarm over the global economic outlook.
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Crisis commission to examine Goldman, AIG ties

A U.S. commission is planning to focus on the ties between Goldman Sachs Group Inc and American International Group Inc, and how derivatives transactions between the two financial giants may have contributed to the financial crisis.
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Greek police and rioters clash

Greek police fired teargas at rioters shouting burn parliament in Athens on Tuesday but fewer ordinary Greeks turned out for rallies in a sign of weariness with anti-austerity protests.
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Wall St tumbles on global economic worries

Investors fled the U.S. stock market on Tuesday and the S&P 500 tumbled to nearly an eight-month low in a sell-off triggered by a wave of increasing alarm over the global economic outlook.
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Pre-IPO GM pitches gains in turnaround

General Motors , in the year since emerging from bankruptcy, has revamped the way it operates, with sharply lower costs, stronger brands and gains in key emerging markets like China, Chief Executive Ed Whitacre told potential investors on Tuesday.
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Consumer confidence drops on job worries

Consumer confidence dropped in June after rising for three months, adding to the view the economic recovery is slowing, while single-family home prices unexpectedly climbed in April.
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Sprint seeing spot shortages of EVO phone

Sprint Nextel Corp has been seeing shortages of its EVO high-speed phone from HTC Corp in some places due to better-than-expected demand, the company's chief executive, Dan Hesse, said on Tuesday.
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Barnes & Noble shares down despite e-books forecast

Barnes & Noble Inc shares hit their lowest level in more than a year even as its chief executive said on Tuesday that the bookseller could dominate a quarter of the growing e-books market within a few years and generate billions of dollars in new sales.
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Special report:Is Tesla the future or the new Government Motors?

Elon Musk, the chief executive and major investor behind Tesla Motors Inc, has sometimes taunted U.S. automakers, painting his fledgling company as everything Detroit would like to be if it could start over: cooler, greener and ensconced in a much better neighborhood.
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Wall St slumps as economy fears resurface

Stocks tumbled on Tuesday after a sharp drop in consumer confidence and on fresh concerns over euro-zone fiscal problems ahead of massive bank repayments to the European Central Bank this week.
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Euro zone and China fears hit Latam currencies

A toxic combination of European banking concerns, a downward revision to Chinese growth and poor U.S. economic data battered Latin American currencies on Tuesday. Brazil's real was hit the hardest, plunging to its weakest level in about two weeks, as investors fled higher-risk assets worldwide.

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