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Oracle may get EU approval on Sun this week: source

Oracle Corp will likely win European Union approval to buy Sun Microsystems Inc before the end of this week, clearing the way to close the long-delayed $7 billion deal, according to a person close to the company.
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U.S. allows Haitians to stay and work

Up to 200,000 Haitians in the United States when a devastating earthquake struck last week will be allowed to stay and work for up to 18 months to aid in their country's recovery, the U.S. government said on Wednesday.
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SEC sues General Re over AIG, Prudential fraud

U.S. regulators filed a lawsuit against Berkshire Hathaway Inc's General Re alleging the reinsurer used sham transactions to help manipulate American International Group Inc and Prudential Financial Inc's financial statements, according to documents filed in a New York federal court on Wednesday.
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Obama urges lawmakers to agree on healthcare

U.S. President Barack Obama urged lawmakers on Wednesday to coalesce around elements in healthcare reform that could be agreed and said the new Republican senator from Massachusetts should be seated before a vote on the bill.
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Buffett sour on Kraft's candy deal

Warren Buffett said Kraft Foods Inc's proposed $19.6 billion acquisition of Cadbury Plc is a bad deal and questioned how Chief Executive Irene Rosenfeld chose to pay for it.
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Housing starts fall, but permits at 14-month high

U.S. home starts unexpectedly fell last month as unusually cold weather hampered construction, but a jump in building permits to a 14-month high indicated the housing market recovery was intact.
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BofA, other big banks get M&A boost

Wells Fargo & Co and U.S. Bancorp reported better-than-forecast quarterly earnings, helped by recent acquisitions, while larger rival Bank of America Corp got a boost from Merrill Lynch.
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SEC eyes new charges against Galleon's Rajaratnam

The U.S. Securities and Exchange Commission wants to expand its lawsuit in the widening Galleon hedge fund probe to add new charges against two defendants, Galleon founder Raj Rajaratnam and former McKinsey & Co director Anil Kumar.
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Top wealth managers' profits hit by expenses

U.S. retail brokerages modestly boosted fourth-quarter profits as higher merger and recruiting expenses largely offset growing management fees and a market-fueled increase in client assets.
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Stocks fall on China lending curb, IBM outlook

U.S. stocks were having their worst day of 2010 on Wednesday as lending restrictions in China worried investors about the global economic recovery, while a conservative outlook from IBM weighed down technology shares.
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Jobless rates seen high for many more years

Unemployment rates will likely peak in most U.S. cities in 2010, but it will be many more years before jobless rates hit their lows of the last decade, a report released by a U.S. mayors group shows.
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Big U.S. banks report mixed earnings

Four of the major U.S. financial institutions - with a combined market capitalization of $352 billion - reported mixed fourth quarter earnings today.
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Stocks fall further, Nasdaq off 2 percent

U.S. stocks extended losses on Wednesday as investors pummeled technology shares, sending the Nasdaq down more than 2 percent following IBM's disappointing outlook.
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Obama agenda imperiled by Republican Senate gain

President Barack Obama on Wednesday faced a fight to save his legislative agenda and keep his healthcare overhaul alive after his Democratic Party lost a key Senate seat, underscoring the challenges he faces at the one-year mark of his presidency.
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Stocks fall on bank results, IBM forecast

U.S. stocks fell on Wednesday as quarterly results from three big U.S. banks raised concerns about the stability of the sector and analysts questioned IBM's profit forecast.
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BofA, Wells Fargo, U.S. Bancorp boosted by M&A

Wells Fargo & Co and U.S. Bancorp reported better-than-forecast quarterly earnings, helped by recent acquisitions, while larger rival Bank of America Corp got a boost from Merrill Lynch.
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Oil slips below $78 on strong dollar, China loans

Oil slipped below $78 a barrel on Wednesday on fresh evidence of tightening credit policy in China, a stronger dollar and expectations that U.S. refiners processed less crude in the latest week.

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