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Chevron Q4 profit tumbles 37 percent

Chevron Corp , the second-largest U.S. oil company, posted a 37 percent drop in quarterly profit as refining troubles offset gains from higher oil prices and production.

Economy soars 5.7 percent in Q4, fastest in 6 years

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The economy grew at a faster-than-expected 5.7 percent pace in the fourth quarter, the quickest pace in more than six years, as businesses reduced inventories less aggressively, the Commerce Department said on Friday.
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North Korea not about to collapse, says South's Lee

North Korea is not near collapse and leader Kim Jong-il has recovered from his illnesses, but the destitute state is hurting from U.N. sanctions imposed for its nuclear test, South Korea's President Lee Myung-bak said.
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U.S. economy likely grew 4.6 pct in 4th quarter

The U.S. economy likely grew at its fastest pace in nearly four years in the fourth quarter as businesses made less-aggressive cutbacks on inventories, a government report is expected to show on Friday.
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Obama takes retooled agenda on road after speech

President Barack Obama vowed on Thursday he would not rest until U.S. businesses were hiring again, as he took his recast agenda on the road and sought to dig out of his deepest political rut since taking office.
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Economy likely grew 4.6 percent in 4th quarter

The U.S. economy likely grew at its fastest pace in nearly four years in the fourth quarter as businesses made less-aggressive cutbacks on inventories, a government report is expected to show on Friday.
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Developed market funds suffer investor redemptions

Investor concern about tightening lending conditions in China and deteriorating finances in Greece and Japan led them to pull cash out of developed market equity funds for debt funds in the week ended January 27, fund tracker EPFR Global said late on Thursday.
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Samsung Elec swings to Q4 profit on strong chips

Samsung Electronics, the world's top maker of memory chips and LCD screens, expects rapidly recovering demand for its premium computer memory chips and flat TVs to drive growth this year, in an ominous sign for its Japanese rivals.
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Congress to probe Toyota recalls

Congressional investigators on Thursday sought documents on Thursday from Toyota Motor Corp and U.S. safety regulators about a pair of safety recalls the automaker was racing to address.
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Wal-Mart seeks efficiency in new U.S. structure

Wal-Mart Stores Inc is consolidating some U.S. operations and dividing the country into three regions under separate presidents to increase efficiency at more than 3,700 domestic stores.
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Toyota reviewing pedal fix with U.S. regulators

Toyota Motor Corp is consulting with U.S. safety regulators on a fix that would allow it to avoid the more costly option of shipping brand new accelerators for over 2 million Americans with vehicles under recall, two people briefed on the talks said.
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Daily Forecast - 29/1/2010

The Australian Dollar opens at 0.8940 after a volatile 24-hour session which saw it trade between a low of 0.8910 during early Sydney trade yesterday and a high of 0.9044 in early Europe.
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Comcast, NBC promise to keep news, free TV

Cable giant Comcast and NBC Universal said on Thursday they would continue reporting news, keep broadcast television free and offer more children's programming if the U.S. government approves Comcast's plan to take control of the TV and movie company.
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AT&T profit rises 26 percent, plans more spending

U.S. consumers' obsession with using smartphones to find restaurants, surf the web and navigate city streets helped propel a 26 percent rise in AT&T's quarterly profit -- but at a cost for the operator.
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Majority of Senate vote to confirm Bernanke

A majority of U.S. senators on Thursday voted to confirm Ben Bernanke for a second four-year term at the head of the Federal Reserve, suggesting he would win the Senate's needed approval.

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