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Philip Morris, Reynolds raise 2009 estimates

Philip Morris International Inc and Reynolds American Inc posted higher-than-expected quarterly profits and raised their full-year forecasts on Thursday, as tax increases and the recession did not hurt the cigarette makers as much as feared.

China mulls military options over hijacked ship

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China has not ruled out military action to rescue the crew of a coal ship hijacked by Somali pirates, but is also open to negotiations over what a Chinese military officer said on Thursday could be a long standoff.
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Men get breast cancer too: Former KISS drummer

Peter Criss, founding member of rock band KISS, knows that many of his male fans are macho, so he is making the rounds to tell them even tough rocker guys like him can suffer from a disease usually associated with women -- breast cancer.
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Congress cranks up pressure on insurance industry

Democrats in the U.S. Congress moved on Wednesday to repeal the health insurance industry's exemption from antitrust laws, cranking up the pressure in a growing battle over President Barack Obama's healthcare reform plans.
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Oil falls below $81 as dollar rises

Oil slipped below $81 on Thursday as a stronger dollar encouraged investors to lock into profits from a 12-month high hit the previous day.
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AT&T tops estimates with iPhone help

AT&T Inc posted a stronger-than-expected quarterly results on Thursday, as Apple Inc's iPhone helped the phone company land a record number of new wireless subscribers.
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Former KISS drummer: men get breast cancer too

Peter Criss, founding member of rock band KISS, knows that many of his male fans are macho, so he is making the rounds to tell them even tough rocker guys like him can suffer from a disease usually associated with women -- breast cancer.
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Cost controls boost McDonald's profit

McDonald's Corp posted a stronger-than-expected quarterly profit and projected positive same-store sales trends in October as consumers sought low-cost dining options, sending its shares up more than 2 percent in early trading.
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China authors says Google violated copyrights

A group representing authors in China has accused Google of violating copyrights with its digital library, a claim that Google denies by saying the service complies with international law.
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Stock futures point to lower open

Stock futures were poised for a slightly lower open on Thursday after the government said new jobless claims rose more than expected and a slew of big corporate earnings reports, including UPS, 3M, Dow Chemical and Merck.
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Rise in new jobless claims signals soft labor market

The number of U.S. workers filing new claims for unemployment benefits rose more than expected last week, data showed on Thursday, indicating the labor market remains fragile despite signs of economic revival.
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NYC sees economic gold in green jobs

Recession-stricken New York City plans to double its current green work force by creating over 13,000 new jobs in the next decade, partly by competing with London to become the new center for carbon trading, a city official said on Wednesday.
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Michael Buble still tops on U.S. album chart

Michael Buble occupied the penthouse of the U.S. pop album chart for a second consecutive week, holding strong against the soundtrack from The Twilight Saga: New Moon, which debuted at No. 2.
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Top pay at bailed out companies to be cut

Top earners at financial and auto companies bailed out by the U.S. government will see their pay slashed under an Obama administration plan aimed at addressing public outrage over eye-popping paychecks, two sources familiar with the matter said on Wednesday.
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GLOBAL MARKETS-Poor earnings knock stocks, dollar bounces

Disappointing corporate results knocked equities lower on Thursday, set Wall Street up for a poor start and helped the dollar bounce off 14-month lows. Gold and oil both slipped as the dollar rose. Euro zone government debt was stronger.
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Stock futures mixed ahead of data, earnings

Stock futures were mixed on Thursday ahead of leading indicator and jobless data and a slew of big corporate earnings reports, including UPS, Amazon.com, 3M, Dow Chemical and Merck.
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RPT-Fed's Rosengren: Economy to grow reasonably in Q3, Q4

The U.S. economy will grow reasonably in the second half of this year, but the Federal Reserve needs to see more progress before taking some of its economic support away, Eric Rosengren, the president of the Boston Fed said on Thursday.

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