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AIG snubs lower Pru offer putting deal in jeopardy

American International Group said it would not consider revising the terms of a deal for its Asian life insurance unit with British insurer Prudential Plc, in a move that threatens to derail the industry's largest ever transaction.

BP says spill costs hit $990 million

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The financial cost of tackling the oil spill in the Gulf of Mexico, the worst in U.S. history, now stands at $990 million, BP said on Tuesday as it prepared for a new attempt to control the flow of oil this week.

Euro and stocks slip on slowdown caution

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The euro and Asian stocks slipped on Tuesday on creeping suspicion that a peak in the recovery has passed and slowing growth in China and Europe in the second half of the year will be obstacles to risky trades.
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Obama to meet spill probe leaders as oil heads north

President Barack Obama will meet with the leaders of a panel he created to probe the worst oil spill in U.S. history on Tuesday, as a giant slick from BP's blown-out Gulf of Mexico well poses a new threat to the coasts of Mississippi and Alabama.
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Australian Dollar Outlook 01/6/2010

The AUD has opening relatively unchanged this morning due to the quiet offshore trading session as the US and UK markets were closed for public holidays.
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Daily forex forecast - 01/6/2010

The Australian dollar opens weaker today at 0.8450 against the US dollar after pushing back from Friday's early offshore rally above 0.8500.
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Oil climbs above $74, ending worst month since 2008

Oil climbed above $74 per barrel on Monday in line with a timid recovery across financial markets, but still logged its biggest monthly loss in 18 months after the European economic crisis raised the prospect of reduced fuel demand.
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ECB warns of more bank loan losses

The European Central Bank warned on Monday that euro zone banks face up to 195 billion euros in a second wave of potential loan losses over the next 18 months due to the financial crisis, and disclosed it had increased purchases of euro zone government bonds.
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Oil above $74 on wider rally, down 14 percent in May

Oil crept above $74 on Monday in line with a timid recovery across financial markets, but was set for its biggest monthly loss in 18 months after European economic crisis raised the prospect of reduced fuel demand.
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Apple says sold 2 million iPads

Apple Inc said it sold 2 million iPads since launching the touch-screen tablet in the United States nearly two months ago and taking it to nine international markets this past weekend.
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Global rebound anemic: Roubini

Advanced economies face years of anemic growth and the risk of a double-dip recession as their citizens cope with sluggish employment and highly indebted governments, economist Nouriel Roubini said on Monday.
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ECB ups bond purchases as Spain vows labor law

The European Central Bank disclosed increased purchases of euro zone government bonds on Monday as Spain assured investors it would reform its rigid labor market even if employers and trade unions cannot agree.
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Swiss report slams government over UBS crisis

The Swiss government failed to act swiftly to prevent a credit and tax crisis that had endangered banking giant UBS AG in 2008-2009 and could have sunk the Swiss economy, a parliamentary report said on Monday.
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Will gold surge to $1,250/oz?

Gold is marginally lower and threading water in most currencies today with markets subdued as the London Stock Exchange and Wall Street are closed for a national holidays.
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Three BP fuel oil traders in U.S. quit

Resignations from BP Plc's fuel oil team have extended globally, with the departure of three traders from its U.S. office, including the team leader, and the head trader in London, three industry sources said on Monday.
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May retail sales seen up but spending erratic

Retailers are expected to show a sizable increase in sales for the month of May, but erratic trends of consumer spending could grow more pronounced over a seasonally weaker period for shopping.
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Euro inches up while stocks remain flat after warning

The euro steadied from recent falls and world stocks were becalmed on Monday with a Chinese warning about risks to global growth and a downgrade of Spain's credit heightening investor caution in holiday-thinned trade.
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China's Wen: global economy double-dip possible

Chinese Premier Wen Jiabao warned on Monday that global economic growth remained vulnerable to sovereign debt risks and the possibility of a second downturn, but said his own nation's growth remained on track.
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Euro steadies after worst month since early 2009

The euro steadied on Monday but remained under pressure after Fitch downgraded Spain's credit rating and France said keeping its top credit rating may be a stretch without tough budget cuts.
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Fed officials see small uncertainty from Europe

Two U.S. Federal Reserve officials said on Monday that the euro zone debt crisis has added some uncertainty to the economic outlook but the impact is not yet big enough to influence the interest rate policy of the United States.
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Australian Dollar Outlook 30/5/2010

The Australian Dollar has come off from its recent high on Friday night of 0.8550 as investors trimmed their positions ahead of the long weekend in the US (Memorial Day today) and the UK (May Bank today as well).

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