UNITED STATES

Mexico beats USA 2-1 at packed Azteca stadium

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Mexico's national team retained its never defeated at home by the U.S title on Wednesday beating the American national team 2 to 1 in front of 100,000 at the packed Azteca stadium in Mexico City.

Lehman sues AIG for $9 million in CDS payments

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Lehman Brothers Holdings Inc is suing American International Group for $9 million in payments the bank says it is owed from credit default swap protection it bought from the insurer on companies including General Motors and Washington Mutual.
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Fed says economy is leveling out

The Federal Reserve said on Wednesday the U.S. economy was showing signs of leveling out two years after the onset of the deepest financial crisis in decades and it moved to phase out one emergency measure.
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Daily Wrap Up- August 12 - Energy

The Department of Energy announced a fund of $38 million from the stimulus package to all 50 states for emergency preparedness plans in case of energy supply disruptions. Crude oil futures settled at $70.16 a barrel at 2:44 p.m. on the New York Mercantile Exchange Wednesday. The first offshore wind farm in Germany, started operations of its first three turbines.
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Health Care Reform Bill - Full Text here

Below is the full text of the Health Care Reform Bill HR 320. Section 1233 of the Health Care Reform Bill HR 3200 is over 1,000 pages long and was crafted by House Democrats. The bill shows it would take the better part of a decade — from 2010-2018 — to get all the components of the far-reaching proposal up and running.
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No way to hide for U.S. tax cheats after UBS deal

The days of secret bank accounts are numbered for U.S. taxpayers and European tax dodgers should also watch out after the United States and Swiss bank UBS AG agreed to settle a tax evasion case.
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Fed extends time but not amount of debt buy

The U.S. Federal Reserve said on Wednesday the economy was showing signs of leveling out after 20 months of recession and it will extend the duration but not the size of a program to buy long-term government securities to minimize any disruptions from completing it.
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Market rises further after Fed's economy outlook

U.S. stocks added to gains on Wednesday as the Federal Reserve said it saw signs of a more stable economy, while an upbeat report from chip equipment maker Applied Materials boosted technology shares.
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SEC to bring action against Pequot Capital: source

The U.S. Securities and Exchange Commission has told former hedge fund manager Arthur Samberg that it planned to bring an enforcement action against his firm, Pequot Capital Management, according to a source familiar with the matter.
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UBS, U.S. settle tax evasion case

The days of secret bank accounts are numbered for Americans after UBS and the U.S. and Swiss governments agreed to settle a dispute over whether the Swiss bank should be forced to disclose the names of 52,000 rich U.S. clients suspected of tax evasion.
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Oil rises as optimism outweighs inventory build

Oil rose 1.5 percent on Wednesday as a stock market rally raised optimism about the economy, offsetting concerns about rising inventories and weak demand in top consumer the United States.
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U.S. trade gap widens on oil prices

A jump in oil prices helped widen the U.S. trade deficit in June, but a sharp fall in manufactured goods exports and imports appears to have stabilized, a Commerce Department report showed on Wednesday.
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Fed seen ending bond buys, holding rates steady

The Federal Reserve is expected to end its buying program of long-term government securities at a meeting that concludes on Wednesday, but keep U.S. interest rates steady at near zero amid signs the economy is stabilizing from a deep recession.

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