UNITED STATES

Australia court allows claims against Lehman

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An Australian court has ruled that local governments can pursue financial claims against collapsed U.S. investment bank Lehman Brothers in Australia and elsewhere, a firm that is funding the litigation said on Monday.

Oil falls below $66, sluggish demand in focus

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Oil fell below $66 a barrel on Monday, extending last week's 8.4 percent drop, as investors focused on high inventories and sluggish demand, shrugging off tension between Iran and the West.
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BofA suspends ACORN commitments: report

Bank of America Corp has suspended its current commitments to ACORN Housing, an affiliate of Association of Community Organizations for Reform Now , a scandal-hit U.S. liberal grassroots group, the Wall Street Journal said on Monday.
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Iran test-fires medium-range missiles: state TV

Iran has test-fired medium-range missiles, state TV reported on Monday, a day after the Islamic Republic's elite Revolutionary Guards launched short-range missiles as part of several days of war games.
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Solvay sells drugs unit to Abbott for $6.5 billion

Belgian drugs, chemicals and plastics maker Solvay said on Monday it would sell its drugs unit to U.S. partner Abbott Laboratories for 4.5 billion euros ($6.5 billion) in cash and reinvest in chemicals and plastics.
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Yen surge hits Japan shares, risky assets

The yen surged to an eight-month high against the dollar on Monday as Japanese officials waved off any plans to stem the currency's rise, driving the Nikkei down more than 2 percent and sparking a broad retreat in risky assets.
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Abbott to buy Solvay unit for $6.6 bln: sources

U.S. drugmaker Abbott Laboratories plans to buy Solvay SA's pharmaceuticals unit for $6.6 billion (4.5 billion euros), two sources familiar with the situation said on Sunday, with an announcement expected on Monday.
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Madoff sons, brother, niece to be sued: report

Epic swindler Bernard Madoff's two sons, his brother and a niece will be sued this week for $198 million, the trustee winding down the Madoff firm told CBS News' 60 Minutes broadcast on Sunday.
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NYC pleads for Federal funds to fight terrorism

New York City Mayor Michael Bloomberg, along with other leaders representing the region say additional federal funds are needed to improve the city's security against nuclear devices and “dirty” bombs.
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Abbott to buy Solvay unit for $6.6 billion: source

U.S. drugmaker Abbott Laboratories is planning to buy Solvay SA's pharmaceuticals unit for $6.6 billion (4.5 billion euros) in cash, with an announcement expected in the next 24 hours, a source familiar with the situation said on Sunday.
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Daily Commentary - 28/09/2009

The Australian Dollar opens marginally higher on Monday at 0.8675. The Aussie hit a high of 0.8713 during European trade on Friday night but moved lower after weak U.S. economic data raised concerns over the strength of the global recovery.
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Movie-maker Polanski arrested in Switzerland

Director Roman Polanski, whose turbulent life has on occasion come close to resembling the violent, perverse world of his movies, was arrested in Zurich on a 1978 U.S. arrest warrant for sex with a 13-year-old.
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Stocks' rally to be tested by jobs data

The rally in U.S. stocks, which stumbled in recent days on worries about the economic recovery and continued government stimulus, will be tested this week by crucial data on growth and jobs.
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G20 must tackle global imbalances - Trichet

The Group of 20 rich and developing nations must tackle global economic imbalances in its new role as the key international policy forum, European Central Bank President Jean-Claude Trichet said in comments released on Sunday.
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Iran test-fires missiles amid nuclear tension

Iran test-fired missiles on Sunday to show it was prepared to head off any military threat, four days before the Islamic Republic is due to hold rare talks with world powers worried about its nuclear ambitions.
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Kraft set to launch hostile Cadbury bid: report

Kraft Foods Inc is poised to launch a hostile bid for Cadbury Plc valuing the British confectionery business at around 11 billion pounds ($17.6 billion), a report in The Observer newspaper said.
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Global rebalancing to weaken dollar, quietly

Twenty-four years ago, major nations called for depreciation of the dollar to rebalance the global economy. Now, as another effort at rebalancing looms, the dollar will again bear the brunt — though officials will try to ensure its fall is less dramatic this time.
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ECB's Trichet: G20 must tackle global imbalances

The Group of 20 rich and developing nations must tackle global economic imbalances in its new role as the key international policy forum, European Central Bank President Jean-Claude Trichet said in comments released on Sunday.
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Crawford says Time Warner will sell magazine unit

Time Warner Inc will eventually sell the Time Inc magazine unit and could buy holdings in its core entertainment category, Gordon Crawford, managing director of its largest shareholder, said during a presentation this week.

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