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Collective Brands Q3 beats on back-to-school boost

Footwear retailer Collective Brands Inc posted a third-quarter profit that beat market expectations, driven by a successful back-to-school season and strong boot sales, sending its shares up 8 percent in extended trade.

Obama aides defend ambitious Afghan scale-up

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Top U.S. officials said the first of 30,000 new U.S. troops will arrive in Afghanistan in two to three weeks, but also made clear on Wednesday that plans to start bringing the soldiers home in 18 months could slip.

Fed's Lacker flags need for exit, favors asset sales

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The U.S. Federal Reserve must remain alert to lurking inflation risks, and could begin removing monetary stimulus by selling some of the mortgage debt it acquired during the financial crisis, a top central bank official said on Wednesday.
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Ford betting on U.S. launch of Fiesta small car

Ford Motor Co reintroduced the Fiesta small car to a U.S. audience on Wednesday after a three decade absence, a critical step in a turnaround that focuses on a revamped lineup to make a profit in 2011.
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McCain doubts about Obama's withdrawal plan in Afghanistan

The top Republican on the Senate committee, John McCain voiced doubt about Obama's withdrawal plan in Afghanistan, echoing fears that it could allow Taliban militants to wait out the U.S. troop surge and reassert themselves later.
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EBay, Craigslist battle heads to court

It's a story fraught with accusations of broken promises, backroom deals and deception, leaving an established Internet giant fighting to preserve its valuable stake in a well-loved classified advertising website.
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Ciena, Nokia-Siemens fight over Nortel unit bid

Ciena Corp and a Nokia Siemens Networks squared off in U.S. and Canadian courts on Wednesday to press their claims to the highest bid in an auction of a unit of bankrupt Nortel Networks Inc.
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Daily Forecast - 3/12/2009

The Aussie dollar bounced from an early morning dip to 0.9235 yesterday to trade within a whisker of the 93 cent handle overnight buoyed by gains in commodity and equity markets.
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EBay and Craigslist battle heads to court

It's a story fraught with accusations of broken promises, backroom deals and deception, leaving an established Internet giant fighting to preserve its valuable stake in a well-loved classified advertising website.
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Zandi: U.S. housing market meltdown not over yet

The meltdown of the U.S. housing market is not over yet, and home prices will soon start trekking downward again as a flood of foreclosures looms, a well-known economist said on Wednesday. Mark Zandi, chief economist at Moody's Economy.com in West Chester, Pennsylvania, said in an interview with Reuters home prices will resume their decline by early next year as foreclosure sales pick up again.
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Job losses decline again; Fed sees improvement

The U.S. labor market improved in November, with private sector job losses declining for the eighth straight month and employers planning fewer layoffs, separate reports showed on Wednesday.
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National Grid in talks to buy power from Cape Wind

National Grid Plc and Cape Wind have agreed to enter negotiations for a long-term contract under which the power utility operator would buy power generated by Cape Wind's proposed offshore wind farm, Massachusetts Gov. Deval Patrick said on Wednesday.
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U.S. climate bill to benefit farmers: USDA

Financial benefits from climate change legislation for U.S. farmers will greatly outweigh any additional costs they face from measures limiting greenhouse gas emissions, U.S. Agriculture Secretary Tom Vilsack said on Wednesday.
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SEC ramps up probes of hedge funds: source

U.S. securities regulators have stepped up their probes of hedge funds and are asking some firms to hand over information about their performance and trades, a source familiar with the matter said on Wednesday.
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Fed must not dither on timing exit, Lacker says

U.S. central bankers should not let pockets of weakness distract them from fighting inflation as the economy recovers, Richmond Federal Reserve Bank President Jeffrey Lacker said on Wednesday.
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General Growth reaches agreement with more lenders

General Growth Properties reached agreements with additional lenders to extend loans on its shopping centers and other properties and will ask a judge later this month to approve the plan that so far covers $9.7 billion of its secured debt.
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Fund raises questions about Alberta tar sands

Alberta's sprawling tar sands region holds the second largest oil reserve in the world after Saudi Arabia, but investors lured by the promise of black gold should think twice about the environmental risks, a Canadian investment fund warns.
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ConocoPhillips details reduced spending for 2010

ConocoPhillips said on Wednesday it plans to spend 10 percent less in 2010 as the third-largest U.S. oil and gas company slims down and sharpens its focus in response to volatile energy markets.

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