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Greece downgrade fears hurt euro, stocks

World stocks, the euro and commodities fell on Thursday on concerns over a potential downgrade of Greece's debt, while borrowing costs for peripheral euro zone countries rose.

Euro, stocks drop on Greece debt rating fears

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The euro tumbled to a one-year low against the yen on Thursday and Asian stocks fell on fears that a potential downgrade of Greece's debt rating will worsen Europe's outlook and imperil the global economic recovery.

Asia stocks rally falters after Bernanke

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A tepid rally in Asian shares faltered early on Thursday and the dollar rose after Fed Chairman Ben Bernanke's reaffirmation of an extended period of low U.S. rates boosted risk-seeking but also raised some concerns about global growth.
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U.S. eyes paying broadcasters for mobile spectrum

The top U.S. communications regulator offered to pay television broadcasters to give up their rights to airwaves worth an estimated $50 billion as it looks to overcome a looming scarcity of wireless spectrum for advanced mobile phone services.
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SEC delays plan to adopt IFRS

Securities regulators on Wednesday delayed plans to allow domestic companies to use international accounting standards because it will take businesses at least four years to switch to new rules.
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GM to shut down Hummer after China deal fizzles

General Motors Co will wind down its iconic but tarnished Hummer brand after Chinese regulators rejected a $150 million bid by an obscure Chinese machinery maker to buy the money-losing SUV line.
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GM to wind down Hummer after China sale fails

ral Motors Co will wind down its Hummer SUV line after failing to complete a deal to sell the brand to China's Sichuan Tengzhong Heavy Industrial Machinery, the automaker said on Wednesday.
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Two big U.S. airlines open to merger

Top executives at two of the five largest U.S. airlines said on Tuesday they are open to a merger, adding that the airline industry needs to consolidate to return to profitability.
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Daily Forecast - 25/2/2010

The Australian Dollar opens marginally higher today at 0.8920. It was a quiet domestic session yesterday with only a 50 point range between 0.8880 and 0.8930.
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Obama rejects criticism of agenda as socialism

President Barack Obama launched a vigorous defense of his economic agenda on Wednesday, rejecting critics who say it amounts to socialism and insisting his policies would boost U.S. competitiveness.
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Toyoda takes center stage in safety crisis

Toyota Motor Corp chief Akio Toyoda stepped to center stage in a sprawling U.S. investigation of the Japanese automaker's safety crisis, apologizing to consumers and pledging reforms to skeptical lawmakers.
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Senate talks on financial reform move ahead

Senate negotiations toward a bipartisan agreement on financial regulatory reform moved forward on several fronts on Wednesday and hopes were high for a pact early next week.
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Bernanke eases worries about monetary tightening

Federal Reserve Chairman Ben Bernanke told Congress on Wednesday a weak job market and tame inflation warrant low interest rates for an extended period, dampening speculation a policy tightening might be nearing.

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