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Crude Rises but Not Sustainable. EIA Revised Down Oil Demand Forecasts

As driven by a late-rally in the Wall Street, WTI crude oil price ended the day with small gains. After market close, API's report showing a dip in crude inventory boosted the market further. However, we doubt if the strength can sustain as sovereign crisis in the Eurozone has shown intensified signs of contagion. Gold price retreated after hitting a new record at 1254.5. Yet, outlook is still bullish for the yellow metal as long as worries over deficits problems persist and uncertainty over glo...

Most Asian stocks recover on China export surge

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Most Asian stock markets clawed back early losses on Wednesday and the euro stabilized as news of stronger-than-expected exports from China offset worries that Europe's debt problems will stifle demand for Asian goods.

Sprint says it overstated EVO launch day sales

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Sprint Nextel Corp said on Tuesday it had inadvertently overstated the launch day sales of the much anticipated EVO 4G phone from HTC Corp, which is touted as a serious competitor to Apple's iPhone 4.
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Global grain output may touch 1.60Bl in 2010-11

Global grain output is forecasted to be at 1.60 billion metric tons in 2010-11 period due to expected increase in production in US, South America and Australia, according to Germany-based analytical firm, FO Licht.
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Australian Dollar Outlook 09/6/2010

The Australian Dollar has opened firmer this morning, trading at USD0.8260 following on from yesterday's lead, as equity markets offshore posted gains. Gains in base metal prices also helped support the AUD, with copper up 1.1%, nickel up 1.5% and aluminium +2.8%.
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Bernanke says Europe committed to euro's survival

European leaders are committed to ensuring the survival of the euro and have enough money to meet obligations of heavily indebted member countries, Federal Reserve Chairman Ben Bernanke said on Monday.
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Big record labels seeks to freeze LimeWire assets

Thirteen big record companies want to freeze assets of the provider of popular file-sharing service LimeWire, accusing its founder of fraudulently trying to evade hundreds of millions of dollars in damages over copyright infringement.
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Bankrupt Lehman seeks more debt of NY building

Lehman Brothers Holdings Inc is seeking Bankruptcy Court permission to make another $255 million debt investment in a New York office building, saying doing so would protect its existing investment.
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Emirates in record $11 billion order for A380s

Airbus landed a record $11 billion order for superjumbos from Dubai's Emirates, the Arab world's largest airline, as the carrier shook off the risk of another recession and struck a blow to its older European rivals.
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April job openings at highest since late 2008

U.S. businesses may have started to begin significant hiring as the number of job openings at the end of April was the highest in more than a year, a government survey showed on Tuesday.
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JPMorgan hit by big coal trading losses: traders

JPMorgan Chase & Co has made heavy losses from bad coal-price bets, traders dealing with the U.S. investment bank said, at a time when proprietary trading at deposit-taking banks faces increased regulatory scrutiny.
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GM recalls 1.5 million vehicles on fire risk

General Motors Co on Tuesday announced a recall of about 1.5 million trucks, crossovers and cars from model years 2006-2009 because the unit that heats the windshield washer fluid could catch fire.
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Yahoo signs Beckham as brand ambassador

Yahoo Inc said it signed British soccer star David Beckham as a brand ambassador ahead of the World Cup tournament in a move to draw more users to the online media company's products.
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Middle East Producers See More Heavy Oil in their Future

Middle East oil countries should increase production of heavy oil as oil prices remain higher and improved technology makes it easier, those attending an industry conference in Bahrain were told. Bahrain's oil minister, Abdulhussain Mirza, told the Heavy Oil World MENA conference that heavy oil reserves in the region were estimated at 1 trillion barrels, or 28% of total world reserves, but historically accounted for little more than 10% of production.
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Rates to stay low for some time: Fed's Evans

A top Federal Reserve official said on Tuesday high unemployment and low inflation justify holding benchmark interest rates ultra-low for quite some time but European debt woes are unlikely to derail the U.S. economic recovery.
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Fed's Evans: rates to stay low for some time

A top U.S. Federal Reserve official said on Tuesday high unemployment and low inflation justify holding benchmark interest rates ultra-low for quite some time but European debt woes are unlikely to derail the U.S. economic recovery.
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Dow rises with Exxon but weak tech hits Nasdaq

The Dow and the S&P 500 rose in choppy trading on Tuesday as higher oil prices lifted Exxon, while the Nasdaq fell after an analyst cut price targets on tech bellwethers such as Amazon.com.
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Wall St flat as euro-zone worries offsets Bernanke

Wall Street was flat in choppy trade on Tuesday after relinquishing early gains, as euro-zone concerns offset reassuring comments from Federal Reserve Chairman Ben Bernanke on the state of the U.S. economy.

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