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U.S. hedge fund firm being probed on kickbacks: WSJ

U.S. authorities are probing individuals close to NIR Group on whether the U.S. hedge fund firm paid kickbacks to outsiders to inflate the value of its holdings, the Wall Street Journal said, citing people familiar with the matter.

U.S. economic growth revised up on inventories

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The U.S. economy grew faster than initially thought in the fourth quarter as businesses drew down inventories at a much slower pace and boosted investment, a government report showed on Friday.

Stock futures slightly higher as economy in focus

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Stock index futures were slightly higher on Friday as investors looked ahead to a raft of data, including economic growth, home sales and manufacturing after a disappointing week so far for the economy.
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Oil holds near $78 ahead of key U.S. data

Oil held around $78 a barrel on Friday after sliding more than 2 percent the day before as traders mulled recovery prospects for the United States, the world's top energy consumer, ahead of economic data.
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Stocks shrug off weak U.S. data, euro edges up

Asian stocks rose on Friday as investors tried to shake off weak economic data in the United States and Europe, but lingering caution about riskier assets supported the safe-haven yen.
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Weak, disinterested carriers hurt Palm

Shares of Palm dropped dramatically after it pre-announced its revenue on Thursday, but the company's failure to become a viable mobile player can be traced to its carrier partners.
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Hope fades for Palm

Shares of Palm were crushed on Thursday after the company admitted that sales of its phones were not meeting expectations.
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Stocks, commodities tepid as risk shunned

The euro languished near one-year lows against the yen on Friday, while commodities and Asian stocks struggled in tepid trade as worries about Greece and the health of the world economy took hold.
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Dems, Republicans torn on health care expansion

President Barack Obama, Democratic and Republican members of Congress, finishing a long day of discussions on health care reform, remain far apart on the need to extend coverage to millions of U.S. residents, primarily because of the costs involved.
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Fed optimistic on changing Wall St pay packages

The Federal Reserve expects the largest U.S. banks to make progress this year in overhauling their pay practices, while acknowledging that more dramatic changes may take longer to implement, a Fed official said on Thursday.
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Kim beats Asada for gold

Japan's Mao Asada will compete for the Olympic gold medal on figure skating with main rival South Korea's Kim Yuna Thursday evening in Vancouver .
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Obama, Republicans clash at health summit

President Barack Obama and Republicans clashed frequently on Thursday at a summit on his stalled healthcare overhaul, battling over the size and cost of the proposal and moving no closer to a compromise agreement.
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Obama sets 6-week limit to pass health reform

President Barack Obama has given Democrats and Republicans up to six weeks deliver a health care reform bill for his signature, before considering more aggressive measures, possibly reconciliation.
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Toyota may miss N. American production target: report

Toyota Motor Corp's output in North America in the February-April period will likely fall short of its original target by 20 percent, as a result of massive vehicle recalls depressing sales, the Nikkei business daily reported.
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Daily Forecast - 26/2/2010

The Australian Dollar opens lower today at 0.8860. During the domestic session on Thursday the unit hit a high of 0.8950 after the announcement of a 5.5 per cent advance in local fourth quarter capital expenditure.
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Weak U.S. data raises worries about recovery

Demand for a wide range of U.S. manufactured goods unexpectedly fell in January, while new applications for jobless benefits rose again last week, the latest data to suggest a step back in the economy's recovery.
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Bernanke wants answers on Goldman role in Greece

U.S. regulators are probing how Wall Street firms like Goldman Sachs helped debt-stricken Greece arrange derivatives deals that critics say were used to disguise the size of its budget deficits.

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