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Fate of climate change bill in Congress

The fate of U.S. climate control legislation is in the hands of the Senate, where it faces an uphill climb. Democratic leaders hope to put it to a vote in October.

Oil slips below $71 before expected stock build

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Oil fell more than $1 to below $71 per barrel on Tuesday, paring three days of gains as expectations for a rise in U.S. crude inventories offset optimism over positive U.S. and Chinese manufacturing data.
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U.S. manufacturing slows, while construction rises

U.S. manufacturing contracted at a much slower pace in July, while construction spending rose unexpectedly in June, according to data released on Monday that bolstered the view the economy was pulling out of recession.
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Asian stocks trim gains but recovery hopes remain

Asian stocks hit an 11-month high on Tuesday before profit taking pulled them back, while the Australian dollar also pared gains after the country's central bank left interest rates unchanged but offered no clues on when tightening would begin.
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Toyota sees smaller annual loss after beats forecast

Toyota Motor Corp reported its third straight quarterly loss, but beat expectations and said its annual loss would be smaller than earlier forecast, as deep cost reductions help make up for some of the slump in global vehicle sales.
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July U.S. retail sales lack back-to-school bounce

U.S. retailers could post their 11th consecutive drop in monthly same-store sales this week as cool weather, a weak job market, and a lack of tax-free holidays had shoppers picking through the clearance racks in July instead of buying full-priced back-to-school clothes.
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Recovery rally lifts Asia stocks to 11-month high

Asian stocks climbed to an 11-month high on Tuesday on hopes a V-shaped recovery may be forming in the United States, while the Australian dollar hit its highest since late September after solid housing and retail sales data.
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Geithner loses his cool at regulators meeting: report

U.S. Treasury Secretary Timothy Geithner blasted top U.S. regulators in an expletive-laden tirade amid frustration over President Barack Obama's faltering plan to overhaul financial regulation, the Wall Street Journal said on Monday, citing people familiar with the meeting.
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Oil pauses after rally, supply build up seen

Oil edged back on Wednesday from the previous day's 3 percent gains, as worries about a rise in U.S. crude inventories offset optimism from positive U.S. and Chinese manufacturing data.
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FDIC seen moving fast on private equity: sources

A U.S. bank regulator is expected to move quickly in finalizing guidelines on private equity investments in failed banks, possibly easing one of its most controversial proposals, sources said on Monday.
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Hungary's Richter Q2 net profit more than doubles

Hungarian drug producer Richter Gedeon said its second-quarter net profit more than doubled on rising sales, especially to Russia and the United States, muted cost growth and a smaller-than-expected loss.
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Daily wrap up - August 3 - Tech

The U.S. Federal Trade Commission said it will continue to investigate the relationship between the boards of Apple Inc and Google Inc, after Google's chief quit Apple's board on Monday
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Uighur leader's children's accusation letter against Rebiya Kadeer (full text)

The children of Rebiya Kadeer, head of the World Uyghur Congress, have written a letter to their mother accusing her of masterminding the July 5 riots in Urumqi, and which was also signed by other relatives on July 24. The letter was originally written in the Uygur language, according to the Xinhua News Agency.
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Daily Wrap Up - August 3 - Energy

Phibro LLC the energy trading unit of Citigroup may separate from its parent company, according to a report from the New York Times which said Andrew Hall, a senior trader at Phibro has had preliminary talks to other parties about the separation.
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U.S. auto sales bolstered by rush to dump clunkers

U.S. auto sales jumped to the highest level of 2009 in July as Americans rushed to take advantage of the government's Cash for Clunkers program, raising hopes that the battered sector is poised for recovery.
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Nissan's first electric vehicle 'Leaf' unveiled

Nissan Motor Co. unveiled its first electric vehicle in Japan on Sunday, a car to be mass produced with an affordable price for consumers in the Japanese, American and European markets, the firm said in a statement.
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UBS shares gain, details of U.S. tax deal awaited

Shares of UBS rose sharply on Monday as attention turned to details of an agreement ending the Swiss bank's dispute with U.S. authorities over whether it should reveal the identities of thousands of American clients.
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Oil rises over 3 percent

Oil rose more than 3 percent to above $71 a barrel on Monday as positive manufacturing data in the United States and China raised optimism for an economic recovery that could bolster energy demand.
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GM U.S. July sales fall 19.4 percent

General Motors Co said on Monday its U.S. auto sales fell 19.4 percent in July from a year earlier, but retail sales rose from the month before for a fifth consecutive month, supported by the U.S. government's Cash for Clunkers incentives.

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