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Shuttle Endeavour blasts off

The space shuttle Endeavour bolted off its seaside launch pad in Florida on Monday, carrying six astronauts on a voyage to install the last two main pieces of the International Space Station.

Surprise CEO exit puts SAP shares under pressure

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The abrupt resignation of SAP AG's chief executive Leo Apotheker put pressure on the group's stock on Monday as the market sought direction on where the world's largest business-software company is headed.
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Toyota stumbles but its kaizen cult endures

The cascading crisis at Toyota Motor Corp stemming from the massive recall of some of its vehicles is prompting other manufacturers that adopted its production system to ask whether the incident reveals a fundamental flaw in the Toyota Way.
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Riding green wave, Philips says let there be LED

More than a century into its existence, Philips is once again betting heavily on semiconductors. This time the consumer electronics firm is looking to harness their potential as a source of light.
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Japan bank lending slides as funding demand weak

Japanese bank lending logged its biggest annual fall in more than four years in January as companies faced with overcapacity and a murky economic outlook steered clear of borrowing for capital investment purposes.
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Envoys go to North Korea to push for nuclear talks

A senior Chinese envoy was in North Korea to prod the reclusive state back to stalled nuclear talks while the South sent a team across the border on Monday for talks to restart tourism projects halted due to political wrangling.
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Alongside gags, Super Bowl ads plumb male psyche

Sidestepping the usual slapstick comedy and animal tricks, a number of advertisers tried to score during Sunday's Super Bowl with commercials that tapped into men's ambivalence with their everyday lives.
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CIT, emerging from bankruptcy, hires Thain as CEO

CIT Group Inc has hired former Merrill Lynch CEO John Thain as its new chief executive, the commercial lender said late on Sunday, wagering that the well-traveled executive can guide its post-bankruptcy turnaround.
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Toyota to recall Prius for brake glitch: dealer

Toyota Motor Corp, which has recalled more than 8 million vehicles around the world for problems with unintended acceleration, has decided to recall its new Prius hybrid in Japan to fix a braking software glitch, a dealer said Sunday.
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SAP CEO resigns unexpectedly, co-CEOs appointed

SAP AG Chief Executive Leo Apotheker in a surprise move will step down with immediate effect amid customer dissatisfaction and what some analysts perceived as a lack of company strategy just seven months after taking over.
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Private equity firms brace for tax battle

Private equity firms are again being threatened with higher taxes, as a long-running debate over how to classify their profits again becomes a focus for governments desperate for cash.
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Daily Forecast - 8/2/2010

The Aussie dollar remained relatively range bound on Friday bouncing between 0.8650 and 0.8700 for the majority of the Asian session.
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Geithner: No double-dip slump but recovery slow

The risk the economy will slip back into recession is lower now than at any time in the past year, Treasury Secretary Timothy Geithner said on Sunday, while conceding that recovery will be slow and uneven.
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Goldman's payment demands on AIG probed: report

U.S. regulators are investigating whether the mortgage insurance market was improperly distressed in 2008 because of payment demands that Goldman Sachs Group Inc and other banks made on American International Group Inc , The New York Times reported on Sunday.
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Recovery, debt woes to hound

U.S. stocks face more turbulence that could send indexes spiraling through key levels this week as doubts about the global recovery's pace persist and fears linger over Europe's sovereign debt woes.
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U.S. won't renegotiate UBS tax deal: report

The United States is unwilling to re-enter talks to alter a key deal struck with Switzerland to end a damaging tax case against Swiss banking group UBS AG , the U.S. ambassador in Berne was quoted saying in a Swiss Sunday paper.
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No double-dip slump but recovery slow: Geithner

The risk the U.S. economy will slip back into recession is lower now than at any time in the past year, Treasury Secretary Timothy Geithner said on Sunday, while conceding that recovery will be slow and uneven.
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G7 reassures on Greece, talks tough on banks

Reassurances about debt-strapped Greece and agreement that banks should pay for future rescue funds capped an international meeting in Canada's Arctic, as European policymakers sought to convince jittery markets that they have things under control.
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Geithner says zeal for bank reform intact

Treasury Secretary Timothy Geithner insisted on Saturday that major economies were not easing up on their commitment to stiffen the rules for banks just because the global economy was recovering.
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G7 agrees banks must help pay crisis costs

Group of Seven officials agree banks must contribute toward the cost of dealing with the financial crisis but have not agreed on how they should pay, a German official said on Saturday.

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