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Obama to seek three-year freeze on domestic spending

President Barack Obama, under pressure from deficit hawks, will seek a three-year freeze on domestic spending in his 2011 budget that would save $250 billion by 2020, administration officials said on Monday.

Home prices dip in November: S&P/Case-Shiller

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U.S. home prices slipped in November and were softer than expected in the latest sign that a rebound in the U.S. housing market is tenuous, according to Standard & Poor's/Case-Shiller indexes on Tuesday.

Nov home prices dip, annual drop improves: S&P

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U.S. home prices slipped in November and were softer than expected in the latest sign that a rebound in the U.S. housing market is still tenuous, according to Standard & Poor's/Case-Shiller indexes on Tuesday.
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Stocks open down after housing data

Wall Street opened lower on Tuesday after China tightened bank lending requirements and data showed a rebound in the U.S. housing market is tenuous.
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U.S. bailout watchdog probes NY Fed on AIG disclosure

A U.S. bailout watchdog has launched two new investigations into the New York Federal Reserve Bank's actions on insurer AIG's disclosure of payments to banks after its 2008 rescue, excerpts of prepared congressional testimony showed on Monday.
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BoE urges cooperation with Obama on bank reform

Britain needs a safer and more robust banking system, its top central banker said on Tuesday, urging the country to work with President Barack Obama on his plans for a drastic overhaul of the global financial system.
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Chinese media scorn U.S. over Google dispute

Chinese state media stepped up their war of words with the United States over Internet control on Tuesday, with a top newspaper claiming a U.S. conspiracy and saying China can live without Google.
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Asia shares slump on China loan curb fears

Asian stocks slid on Tuesday, with Taiwan suffering its worst one-day fall in six months, as fears mounted that China could impose further measures to curb soaring loan growth, potentially dampening a global recovery.
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U.S. retail industry sales seen up 2.5 percent for 2010

U.S. retail sales should rise 2.5 percent this year, signaling that store chains have made it through the worst of the downturn as improvements in the housing and job markets bolster shoppers' confidence, a trade group forecast on Tuesday.
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'Avatar' success still far behind 'Gone with the Wind'

Avatar, which is set to beat 'Titanic' in the next few weeks as the all-time record holder for U.S. Domestic box-office receipts is still relatively far from beating 1933's “Gone With the Wind” as the inflation-adjusted box office champion.
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Amgen 2010 forecast shows potential upside

Amgen Inc issued a 2010 forecast on Monday that showed potential to exceed Wall Street expectations, but the company's slightly higher fourth-quarter profit came in shy of analyst estimates primarily due to higher expenses.
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en dips vs dollar as risk reduction pauses

The yen held broadly steady on Tuesday, hovering below a nine-month peak struck against the euro last week and taking a breather from a rally triggered by the onset of risk reduction. The yen surged last week as investors dumped higher-yielding currencies and risky assets on concerns that China's efforts to curb its surging economy could impair global growth and worries over a White House plan to curb risk-taking among banks.
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Copper, steel push up electronic goods prices

With the copper prices rising day by day, several companies have decided hike the price of their consumer durable products, which need usage of copper. Companies like LG, Godrej & Boyce, Videocon and Whirlpool may hike the prices by around 5% in refrigerators, washing machines, air conditioners and flat panel displays by March to make up for increasing input costs.
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Bernanke support grows; key senator sees approval

The U.S. Senate looked likely to grudgingly approve Ben Bernanke to a second term as Federal Reserve chairman this week after the White House stepped in to defend his crisis-fighting record and rally votes.
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Obama to address voter fears in State of Union

President Barack Obama, concerned by voter anxiety over high unemployment, will use his State of the Union speech on Wednesday to reassure Americans worried about jobs and the economy, aides said.
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Daily Forecast - 26/1/2010

Yesterday's surprise 0.4% decline in the Producer Price Index did little to curb the markets support for the Aussie dollar around 90 cents as it traded at an intraday high near 0.9075.
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U.S. home sales tumble

Sales of previously owned U.S. homes suffered a record drop last month as the boost from a popular tax credit waned, raising doubts the housing market recovery can be sustained without government support.
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Wall St climbs as Bernanke support firms

Stocks snapped a three-day slide on Monday as signs that Federal Reserve Chairman Ben Bernanke would win a Senate vote for a second term helped ease investors' concerns.
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GM's Whitacre to stay on as CEO; search dropped

General Motors Co Chairman Ed Whitacre said on Monday he would stay on as chief executive indefinitely, ending an eight-week search for his successor in a move intended to bring stability to the automaker's turnaround plans.

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