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Asian Stocks ease, dollar up as risk shunned

Asian stocks eased on doubts about the pace of economic recovery, while the Indonesian rupiah and the Indian rupee fell on concerns over official steps to curb capital flows after Brazil's latest move to limit the rise of its currency.

Daily Wrap Up - Nov 18

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Congress pushes for finance reform; Healthcare reform takes next step; Dell's public fortunes
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Recovery doubts as Japan stocks tumble

Doubts about the pace of economic recovery hit Asian markets on Thursday, with Japanese stocks falling to a four-month low and the Australian dollar down for a third day as a December interest rate hike no longer looked like a sure thing.
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Aetna says cutting roughly 1,250 jobs

Aetna Inc on Wednesday said it expects to eliminate roughly 1,250 jobs by the end of March 2010, reflecting weak economic conditions and the potential impact of health care reform.
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Congress panel backs big bank break-up power

The U.S. House Financial Services Committee voted on Wednesday to approve a proposal that would empower government regulators to break up large financial firms that threaten economic stability.
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Housing starts, permits fall sharply in October

New U.S. housing starts in October unexpectedly fell to their lowest level in six months, weighed down by a sharp decline in construction activity for both single-family and multi-family dwellings, a government report showed on Wednesday.
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Iraq VP vetoes vote law, poll date in doubt

Iraq's Sunni Arab vice president vetoed an election law on Wednesday, prompting poll workers to halt some preparations and casting new doubt on whether the vote can take place in January.
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Cuba's Raul Castro crushes dissent like Fidel: report

Cuba's Raul Castro has kept the system his brother Fidel used to repress critics, refusing to free scores of people imprisoned years ago and jailing others for dangerousness, Human Rights Watch said in a report issued on Wednesday.
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Obama says Guantanamo prison to close next year

President Barack Obama said on Wednesday he believes the U.S. military prison at Guantanamo Bay, Cuba, can be closed next year, but he acknowledged that he will not meet his original January deadline.
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McCain defends campaign team against Sarah Palin

Republican Senator John McCain on Wednesday strongly defended the top advisers from his 2008 presidential campaign in the face of sharp criticism from his vice presidential running mate, Sarah Palin.
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Housing starts fall sharply, inflation edges up

Construction of new homes in the United States hit a six month low in October, providing more evidence of the economy's sluggish recovery, while a surge in the cost of new and used vehicles lifted consumer prices.
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Daily Forecast - 18/11/2009

Third quarter Wage Cost Index data came in right on expectations increasing by 0.7% for the quarter and 3.6% on an annualised basis keeping the Aussie between 0.9290 and 0.9320 during morning trade. A story on Bloomberg quoting Chinese Central Bank adviser Fan Gang, who also heads the National Institute of Economic Research, as saying double digit growth in China would not be good as it poses a risk of promoting a property and commodity market bubble put a dampener on the AUD. With Chinese eco...
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China orders Microsoft to halt some Windows sales

Microsoft Corp has been ordered by a Chinese court to stop selling versions of its Windows operating systems that include fonts designed by a local company, citing a violation of licensing agreements.
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Private equity firms mull future as asset managers

Private equity firms will need to become more like asset managers, offering buyouts as just part of their portfolio, or else focus tightly on specific sectors in order to prosper, industry participants said.
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Small bank index suggests recovery is elusive

A sustained U.S. economic recovery is unlikely until all banks, and not just the big institutions bailed out with government funds, start to recover from the effects of the financial crisis, according to longtime investment strategist Don Coxe.
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Pressures on Fuel Ethanol Production Capacity

Capacity to produce fuel ethanol from corn nearly tripled between January 2006 and January 2009. However, over the past 18 months, a combination of surplus production capacity, the decline of gasoline prices from their mid-2008 peak level, and high corn prices that boosted producers' input costs have resulted in a sharp decline in ethanol margins. The combination of economic pressures on capacity led some producers to idle plants, and in some cases, file for bankruptcy.
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U.S. housing starts fall sharply, inflation edges up

Construction of new homes in the United States hit a six month low in October, providing more evidence of the economy's sluggish recovery, while a surge in the cost of new and used vehicles lifted consumer prices.

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