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Kraft beats estimates, analysts wary on Cadbury

Kraft Foods Inc posted a higher-than-expected quarterly profit as it showed improvement in legacy businesses like beverages in the United States, while absorbing recently acquired chocolate maker Cadbury Plc.

Asian stocks hammered in market rout

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Asian stocks were hammered on Friday as mounting fears over Europe's debt crisis sparked a global market rout that sent safe-haven assets soaring and clobbered sterling.
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Payrolls seen up in April, jobless rate steady

Nonfarm payrolls likely grew for a second month in April as the government's census hiring picked up and private employment rose modestly, signs a gradual labor market recovery is building.
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Speculative excesses drove huge U.S. market rout: NuWave

Thursday's sharp sell-off in U.S. stocks was sparked by nothing more than too many traders betting on energy, equity and metals markets going higher that then popped in a cascade of stop-loss selling, a hedge fund manager said.
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FCC pledges light broadband touch

U.S. communications regulators sought to calm fears they will heavily regulate Internet services, but shares in major U.S. cable companies fell and industry analysts predicted a prolonged legal battle.
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Citigroup probing rumor of erroneous trade

Citigroup is investigating a rumor that one of its traders entered a trade that helped precipitate a drop of almost 1,000 points in the Dow Jones Industrial Average, a spokesman for the bank said on Thursday.
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Weak April retail sales show uneven recovery

Most top retail chains reported weaker-than-expected April same-store sales on Thursday, suggesting that Wall Street's hopes for a consumer rebound have gotten ahead of the actual pace of recovery.
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Daily forex forecast - 07/5/2010

Disappointing Retail Sales data saw the AUD move lower in Asia yesterday falling from 0.9090 to enter offshore exchange hovering on the precipice of the psychological 90 cent level.
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Indexes down 3 percent after plunging

U.S. stocks were down more than 3 percent on Thursday afternoon after briefly nosediving, with the Nasdaq at one point down more than 9 percent and the S&P 500 and Dow briefly falling into negative territory for the year, as worries about contagion from Greece's debt problems mounted.
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Productivity gains ease, jobless claims dip

A surge in productivity slowed in the first quarter, hinting that employers may soon need to step up hiring after months of squeezing more output from a smaller pool of workers.
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European debt woes could hurt U.S., Fed says

The Federal Reserve is closely monitoring financial turbulence in Europe as it could have repercussions for the United States and its markets, policymakers at the central bank said on Thursday.
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U.S. wasn't ready for bank crisis, response slow

The United States was unprepared for the 2007-2008 financial crisis, underestimated its seriousness and lagged in coming to grips with the damage, past and current Treasury chiefs said on Thursday.
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Genzyme to explore sale of non-core businesses

Genzyme Corp , trying to restore investor confidence, said on Thursday it will look into selling three non-core businesses -- genetic testing, diagnostic products and its pharmaceutical materials unit.
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BP turns to Twitter, Facebook on spill information

Phone lines at the command center where teams are directing clean-up of the Gulf of Mexico oil spill are often jammed, but media-savvy fishermen, residents and others can find the latest updates on Twitter and Facebook.
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Oil from Gulf spill makes first confirmed landfall

BP engineers prepared to start lowering a 98-ton metal chamber over a ruptured undersea oil well in the Gulf of Mexico on Thursday as officials confirmed the first oil landfall from the spill on a Louisiana island beach.
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Warner Music loss narrows, shares rise

Warner Music Group posted a narrower-than-expected quarterly loss on Thursday as growth of digital sales helped compensate for declining CD revenue, sending its shares up nearly 10 percent.
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U.S. jobless claims fall 7,000 last week

The number of U.S. workers filing new applications for unemployment insurance fell slightly less than expected last week, government data showed on Thursday, implying a measured job market recovery.
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U.S. was ill-prepared for financial crisis: Paulson

Former Treasury Secretary Henry Paulson admitted on Thursday the United States was ill-prepared for the financial crisis that struck in 2008 and said he had not foreseen the depth of mortgage-related problems.

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