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Huge earthquake strikes Chile, 85 dead

A massive magnitude-8.8 earthquake struck south-central Chile early on Saturday, killing at least 85 people, knocking down buildings, homes and hospitals, and triggering a tsunami.

Berkshire operating profit falls

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Berkshire Hathaway Inc, Warren Buffett's insurance and investment company, reported a higher fourth-quarter profit, helped by improved results from investments and derivatives.
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Senator Dodd's bank super-cop may be dead: source

A proposal for a single bank supervision agency drawn up by the Senate's chief architect of financial reform looks unlikely to survive negotiations over a landmark bill, said a source familiar with the discussions on Friday.
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Barnes & Noble board protects family, Burkle says

Ron Burkle accused Barnes & Noble Inc's board of putting the interests of its controlling family over those of other shareholders when it blocked his attempt to double his stake in the U.S. bookstore chain.
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Greek PM to meet Merkel, Obama amid debt crisis

Greece's prime minister announced plans on Friday to meet German Chancellor Angela Merkel next week as signs grow that diplomatic efforts are under way to resolve his country's debt crisis.
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Montag highest paid BoA executive in 2009

Bank of America Corp's investment banking chief Thomas Montag was the company's highest paid executive in 2009, after the company assumed his contract as part of its acquisition of Merrill Lynch, according to the company's proxy filing on Friday.
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Toyota hid records in accident lawsuits: Lawmaker

New allegations that Toyota withheld emails and electronic records in previous passenger injury cases are causing a top lawmaker to question the car maker's response to complaints of unintended acceleration in its vehicles.
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Citi board; Armstrong, Mulcahy out, Zedillo in

Citigroup Inc's board is reshuffling, with former AT&T and Xerox executives Michael Armstrong and Anne Mulcahy stepping down and former Mexican President Ernesto Zedillo in line to join.
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Fed officials at odds on right level for rates

Two top Fed officials on Friday offered divergent signals on interest rates, with one arguing they should remain near zero for at least six months and another wishing to raise them sooner rather than later.
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Comic startup cashes in on star power

When Barack Obama merely mentioned how much he liked his BlackBerry, the unofficial endorsement was said to be worth as much as $50 million. While not in the same stratosphere, a small comic book startup is using caricatures of the president, First Lady Michelle Obama and other big names to drive up sales.
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Inventories buoy growth, but home sales slump

The economy grew a touch more than initially thought in the fourth quarter, but a surprise drop in January home sales to a seven-month low and weaker consumer sentiment underscored the headwinds for the recovery.
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NY governor withdraws from election bid

New York Governor David Paterson withdrew on Friday from the state governor's race, battered by questions of impropriety for his role in an assault case involving one of his top aides.
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Fed's Evans: rates low for extended period

A top Federal Reserve official said on Friday an erratic recovery dictates low rates for at least six months, while prominent economists said unsettled U.S. financial conditions are more of a drag on the economy than generally believed.
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AIG posts $8.9 billion loss on loan repay, reserves

American International Group Inc reported a quarterly loss of $8.9 billion, hurt by loss reserves and efforts to repay the U.S. government, as it struggles to find its feet more than a year after its $182.3 billion rescue.
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Pixi discounts seen hurting Palm profits

Sprint Nextel Corp started offering a 50 percent discount on Palm Inc's Pixi phone on the same day the handset maker cut its revenue target, raising profitability concerns.
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Rosetta Stone shares surge on solid quarter, strong outlook

Shares Rosetta Stone Inc surged as much as 32 percent Friday, a day after the language-training software maker posted a strong quarterly profit, as investors cheered the solid growth in its international business and the push toward a recurring-revenue model.

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