UNITED STATES

Pulte posts narrower quarterly loss

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No. 1 U.S. homebuilder PulteGroup Inc posted a far narrower than expected quarterly loss on Wednesday and said it expects to record a profit for 2010 overall, as the housing market pulls out of a brutal downturn.
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Job cuts at near four-year low in April: Challenger

The number of planned layoffs at U.S. firms fell more than 40 percent in April to the lowest level in nearly four years, suggesting employers are more confident about economic conditions, a report on Wednesday showed.
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Greek woes hit Asian shares, euro down

A tumble in global stocks spread to Asia on Wednesday as fears heightened that Greece's debt woes could spread to other countries, which pushed the euro down to one-year lows against the dollar.
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Momentum stalls in April clothing sales: SpendingPulse

Electronics and luxury items were the fastest-growing U.S. sales categories in the retail sector in April, but weakness in apparel suggests that a sustained recovery in overall retail may be too soon to call, according to a report released on Tuesday.
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Gold plunges in Asia on dollar rally

Gold prices extended losses in Asian trade Wednesday as the dollar gained more momentum against the euro. Gold for immediate delivery was seen trading at $1167.09 an ounce at 11.30 a.m Singapore time while U.S. gold futures for June delivery were at $1,168.00 on the Comex. The precious yellow metal gave up its safe-haven status to the dollar dropping sharply overnight in step with a broad sell-off in commodities and stocks.
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Gulf Oil Spill Threatens Halt to White House Offshore Drilling Plans

The oil spill in the Gulf of Mexico from a collapsed offshore drilling rig could affect White House plans to extend offshore drilling, press secretary Robert Gibbs acknowledged as the oil slick threatened onshore sites from the Louisiana wetlands to the Sarasota beaches and disrupted fishing and energy industries.
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Molson Coors profit disappoints

Molson Coors Brewing Co posted a lower-than-expected quarterly profit, hurt by higher expenses and falling sales volume, but its shares pared losses with the announcement of a new venture in China with a local brewer.
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WaMu, creditors fight shareholders over examiner

Washington Mutual Inc said on Tuesday that shareholders were demanding an independent investigation of the company's collapse in the hopes of getting a pay off, according to court documents.
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Daily forex forecast - 05/5/2010

:: Australian Dollar: The Aussie dollar bounced off support between 0.9220 and 0.9230 on several occasions over the last 24 hours to open this morning relatively unchanged from yesterday's close at 0.9260.
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Stocks slide on fear Greek crisis could spread

Investors dumped stocks on Tuesday in Wall Street's worst session in three months on the fear that even with a bailout for Greece, Europe's debt crisis could spread to other weak euro zone countries.
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Pending home sales at 5-month high

Pending sales of previously owned homes hit a five-month high in March as buyers rushed to sign contracts before a tax credit expired, while a jump in factory orders underscored manufacturing strength.
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Stocks tumble on fear Greek crisis could spread

Investors dumped U.S. stocks on Tuesday in Wall Street's worst session in three months on the fear that even with a bailout for Greece, Europe's debt crisis could spread to other weak euro zone countries.
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Gold loses steam, retreats from 2010 high

Gold prices retreated on Tuesday from five-month highs above $1,190 hit earlier in the day, as its safe-haven status was dented by Spain's dismissal of rumors the country needed 280 billion euros ($372.9 billion) of aid.
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Chrysler offers May incentives

Chrysler is offering free financing on most 2010 model-year vehicles or up to $4,000 in cash rebates for the month of May as it tries to boost U.S. sales amid heavy discounting by rivals.
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Geithner seeks support for U.S. bank bailout fee

Big banks should be charged a fee to pay for bailouts as it will make them less prone to reckless lending, U.S. Treasury Secretary Timothy Geithner told lawmakers on Tuesday as he sought support for the proposal.
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Pfizer, Merck results beat estimates, shares rise

U.S. drugmakers Pfizer Inc and Merck & Co Inc posted better-than-expected quarterly results, helped by cost savings from their respective mega-mergers that could boost results for several more years.
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Geithner appeals for support for bailout fee

Treasury Secretary Timothy Geithner on Tuesday urged lawmakers to support a proposal to charge big banks a fee to pay for bailouts and said it will make them less likely to engage in reckless lending.

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