UNITED STATES

Gold rallies to record high as dollar slips

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Gold shot to a record high on Wednesday as the dollar slipped to its lowest in more than a year and analysts predict further gains for the precious metal on the U.S. unit's persistent weakness.

Asia stocks up 4th day; China data supportive

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Asian stocks rose for a fourth day on Wednesday as reports showed Chinese factory output jumped to a 19-month high in October, while the ailing U.S. dollar hovered near a 15-month low.
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Dodd seeks more muscle in U.S. financial reforms

Pushing for tougher changes in U.S. financial regulations, the Senate's top banking legislator on Tuesday proposed a new super-cop to police banks, a systemic risk agency and strong consumer protections.
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Fed officials cautious on U.S. economic recovery

Three top Federal Reserve officials on Tuesday struck a cautious note on the U.S. economy, citing high unemployment, heavy reliance on government support and commercial real estate woes as hurdles to recovery.
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Ex-Bear Stearns hedge fund managers acquitted

Two former Bear Stearns hedge fund managers were found not guilty of fraud, a decision that could make government prosecutors less likely to bring criminal charges against Wall Street executives for their role in the financial crisis.
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U.S. Bancorp looks to expand credit card business

U.S. Bancorp , the sixth-largest U.S. bank by assets, is looking to expand its credit card business and is actively marketing its cards nationally, Chief Executive Richard Davis said at a conference on Tuesday.
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Sen Dodd seeks more muscle in US financial reforms

Pushing for tougher changes in U.S. financial regulations, the Senate's top banking legislator on Tuesday proposed a new super-cop to police banks, a systemic risk agency and strong consumer protections.
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Toll 4th-quarter revenue to top view; shares up

Luxury homebuilder Toll Brothers Inc said on Tuesday said it expected fourth quarter revenue to drop 30 percent, but blew past Wall Street's expectations by nearly $100 million, and the company's shares rose 5.4 percent in after-hours trading.
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GM board approves plug-in Cadillac hybrid -sources

The board of General Motors Co has approved a plan to produce a plug-in hybrid for the luxury Cadillac brand that will adapt technology developed for the upcoming Chevrolet Volt, according to people briefed on the decision.
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Veterans Day activities for children

Veterans Day on November 11 is the day honoring all those who were in the war and for school children in public schools they will have no school but will be home working on Veterans Days assignments.
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Treasury says 650,000 in trial home loan workouts

About 20 percent of struggling U.S. homeowners eligible for loan workouts have entered into a trial modification, but it is unclear how many of them will be able to keep the lower payments permanently, the Treasury Department said on Tuesday.
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Daily Forecast - 11/11/2009

The Australian Dollar opens steady against the greenback today at 0.9280. During local trade, the Aussie nudged a calendar-year high above US93 cents ahead of importer interest and profit taking which took the unit back down to 0.9270. Several major currencies have moved higher in recent days after the International Monetary Fund (IMF) said the U.S. Dollar was overvalued. An upbeat NAB business confidence survey also underpinned the local unit yesterday. During offshore trade, the Aussie moved b...
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Palestinian vote, Abbas threat might be a bluff

Voter registration for a Palestinian election failed to get under way as scheduled on Tuesday, adding to signs that President Mahmoud Abbas might be bluffing about a make-or-break vote in January.
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American Express spending volume up, boosts stock

American Express Co said credit card spending increased in October from September in another sign that the worst of the financial crisis may have passed for the largest U.S. credit-card company, sending its shares up 1.5 percent to a 14-month high.
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Daily Forecast 11/11/2009

The Australian Dollar opens steady against the greenback today at 0.9280. During local trade, the Aussie nudged a calendar-year high above US93 cents ahead of importer interest and profit taking which took the unit back down to 0.9270.
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Stocks stall after recent gains

U.S. stocks closed little changed in light volume on Tuesday as differing views on whether the market can build on recent gains stalled the S&P 500's six-day winning streak. Investors paused to assess the rally just one day after the Dow average jumped a little over 200 points to close at a 13-month high.

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