UNITED STATES

Daily Forex Commentary-5 August 2009

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The Australian Dollar opens little changed on Wednesday at 0.8440. In offshore trade the unit traded between a low of 0.8384 in early Europe and a high of 0.8450. In local economic data, retail sales fell 1.4 per cent for the month of June, but surged overall throughout the June quarter.

Iraq mulls website ban, fuels censorship fears

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Iraq is considering blocking websites deemed pornographic or that incite violence or crime, triggering fears of a return to Saddam Hussein-style state censorship and government propaganda.
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UBS tax deal details unlikely on Friday: sources

The United States and Switzerland are expected to reach a final settlement on Friday to end a tax row against giant UBS , but details of the deal won't be made public the same day, sources familiar with the situation said.
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Arthritis drugs raise cancer risk in kids: FDA

Blockbuster prescription drugs used to treat rheumatoid arthritis and other conditions can increase the risk of potentially deadly cancer in children and teenagers, U.S. health regulators said on Tuesday in ordering stronger warnings on such medications.
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Midday minute August 5 – Finance

Goldman Sachs Group Inc. said on Wednesday the government has queried its compensation practices and the use of credit derivatives. Goldman in July reported robust net earnings of $3.4 billion for the second quarter, soon after repaying a $10 billion bailout received from the U.S. Treasury's Troubled Asset Relief Program.
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Mid-Day Minute - August 5 Tech

Sony Corp will begin selling this month the cheapest digital book reader for the United States, heating up the competition with Amazon.com Inc in the small but fast-growing market for electronic readers
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Oil falls below $71 after inventory data

Oil fell toward $70 a barrel on Wednesday after U.S. government inventory data showed a build in crude stocks and weak economic data raised doubts about oil demand recovery in the world's largest energy consumer.
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Service sector shrinks faster in July: ISM

The U.S. service sector contracted in July at a faster pace than in June, adding to worries that any economic recovery may still be a long way off, according to a report released on Wednesday.
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Filipinos bid goodbye to ex-leader Aquino

Former Philippine President Corazon Aquino, heroine of the 1986 people power movement, was laid to rest on Wednesday after an eight-hour funeral procession that had to inch its way past hundreds of thousands of mourners.
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Iran's Ahmadinejad sworn in as president

Mahmoud Ahmadinejad was sworn in as Iran's president Wednesday in a ceremony boycotted by reformist leaders and parliamentarians and marred by street protests over his victory.
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U.S. reporters freed from North Korea return home

Two American journalists freed by North Korea from months of detention returned to U.S. soil early on Wednesday accompanied by former President Bill Clinton, who secured their release in a meeting with the hermit state's leader Kim Jong-il.
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Pace of job losses slows, planned layoffs rise

The number of U.S. jobs lost in the private sector fell in July but firms increased planned layoffs, data on Wednesday showed, suggesting the labor market remained troubled even as the pace of job losses slowed.

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