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Stocks pulled lower by semis, financials

U.S. stocks stumbled on Tuesday after Morgan Stanley downgraded the semiconductor sector and a shake-up at two big British banks prompted investors to sell financial shares.
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Sept factory orders rise 0.9 percent

New orders received by U.S. factories rose a stronger-than-expected 0.9 percent in September, while inventories continued to shrink, the Commerce Department said on Tuesday in a report suggesting manufacturing activity is feeding the economic recovery.
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Magna, labour at GM's Opel agree cost cuts

Opel's labour force has agreed to contribute 265 million euros ($390 million) in annual savings if General Motors finally sells a majority stake in its European arm to a group led by Canada's Magna.
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Semis, financials drag Wall St lower

U.S. stocks fell on Tuesday, weighed by technology and financial shares, as Morgan Stanley downgraded the semiconductor sector and after a shake-up at two big British banks and poor results from Swiss lender UBS.
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Ferrari sees China as top 5 mkt

Fiat's Ferrari luxury car unit expects China to become one of its top five global markets in five years, by marketing to the growing ranks of affluent Chinese, a senior company official said on Tuesday.
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Big names from Hollywood on Obama's arts committee

Sex and the City star Sarah Jessica Parker, Oscar winner Forest Whitaker and talent agent Bryan Lourd were among big Hollywood names named on Monday as members of U.S. President Barack Obama's Committee on Arts and the Humanities.
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Online holiday sales seen up 8 percent

U.S. online sales are expected to rise 8 percent this holiday season, with mass market retailers who can offer discounts performing best, according to Forrester Research Inc.
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Sticking to evidence on stomach bugs could save $1B

When it comes to treating kids for acute gastroenteritis - an infection of the stomach - many children's hospitals in the U.S. are ignoring evidence-based guidelines - and costing the health care system more than $1 billion in unnecessary spending, according to the authors of a new study.
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Wall Street falls at open on banks

U.S. stocks fell at the open on Tuesday as concerns over European banks outweighed a deal by Warren Buffett's Berkshire Hathaway to buy railroad company Burlington Northern.
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Many doctors overuse Pap testing: survey

Many U.S. primary care doctors are out of step with guidelines on Pap testing for cervical cancer -- largely because they overuse the test, according to a study published Monday.
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UBS won't stem withdrawals soon as Q3 disappoints

Swiss bank UBS does not expect to win back assets from rich clients any time soon as it struggles to rebuild its reputation after a bitter U.S. tax row even as its underlying performance improves.
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China 3G stirs up mobile Internet frenzy

China's recent roll out of 3G mobile services is creating a land grab among its Internet firms, old and new alike, salivating over a mobile Internet market the size of the U.S. and Europe combined.

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