UNITED STATES

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U.S. May home prices up, annual drop slows 4th month

U.S. single-family home prices rose in May from April, the first monthly increase in nearly three years, suggesting prices may be stabilizing, according to Standard & Poor's/Case Shiller home price indexes on Tuesday.

Indexes drop as data and earnings spur caution

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Stocks fell on Tuesday as a drop in July consumer confidence and disappointing quarterly results and outlooks from Office Depot Inc and U.S. Steel Corp reignited concerns about the strength of recovery.
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Flextronics withdraws objections to Nortel asset sale

Flextronics International Ltd said on Tuesday it has withdrawn all objections to the sale of Nortel's wireless technology assets to Ericsson and resolved outstanding issues with the Swedish telecom equipment maker.
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Delphi favors bid from bankruptcy lenders

A group of hedge funds that provided bankruptcy funding to Delphi Corp on Monday won a high-stakes auction to take control of the auto parts supplier, scuttling a rival deal brokered by the Obama administration.
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U.S. home prices stabilizing, still down 17 pct from 2008: report

Home prices are stabilizing after steep declines last year, although prices are still down about 17 percent compared to last year, according to new home prices index report released on Tuesday which gives further support to the belief that the housing market is reaching a bottom.
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U.S. home prices see first rise in three years

U.S. single-family home prices rose in May from April, the first monthly increase in nearly three years, suggesting prices may be stabilizing, according to Standard & Poor's/Case Shiller home price indexes on Tuesday.
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Lower open eyed on disappointing results

Stocks were set to dip at Tuesday's opening after a handful of companies, including Viacom Inc and Office Depot Inc, posted disappointing quarterly results and investors sought more evidence of the economic rebound.
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Wall St set to dip on company results, caution

Stocks headed for a lower open on Tuesday as a handful of companies, including Office Depot Inc , posted disappointing quarterly results and investors turned cautious before key data on home prices and consumer confidence.
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Office Depot loss widens; shares drop

Office Depot Inc reported a bigger-than-expected quarterly loss on Tuesday as the recession weighed on sales at the No. 2 U.S. office supplies retailer, and its shares fell 13 percent.
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U.S. housing chiefs to push lenders for aid

Senior U.S. housing officials and leading mortgage companies on Tuesday will make a fresh commitment to help troubled borrowers keep their homes and will promise to expand foreclosure-prevention aid, sources familiar with the plans said.
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Low bar, long horizon for U.S.-China talks

China is bringing 150 senior officials, including nearly its whole Cabinet, to the United States this week for talks whose symbolic value is likely to trump concrete achievements.
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Futures hit session lows on results

Stock index futures dropped to session lows on Tuesday as several companies, including Office Depot Inc , posted lackluster quarterly results and investors turned cautious ahead of key reports on home prices and consumer confidence.
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U.S. home sales signal worst could be over

U.S. home sales surged in June, a sign the U.S. housing market may have hit bottom and is starting to rebound, but two big U.S. companies, diversified manufacturer Honeywell and health insurer Aetna, saw economic weakness continuing.
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Regulator report blames speculators for oil price swings

The U.S. Commodity Futures Trading Commission is planning to issue a report next month that suggests that wild swings in oil prices were significantly driven by speculators, the Wall Street Journal reported on its website on Tuesday.
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BP ups cost cut target as profits dive

Oil giant BP Plc said it had increased its cost reduction targets for 2009 by 50 percent to $3 billion, as it reported a halving in second quarter profits due to lower oil prices and weaker refining margins.
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Asia stocks at 10-month high

Asian stocks hit a 10-month high for a seventh day on Tuesday as investors were lifted by improving corporate earnings, though the non-stop pace of the rally caused some to wonder if it was overdone.
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Asia stocks hit 10-month high for 7th day

Asian stocks hit a 10-month high for a seventh day on Tuesday as investors were lifted by improving corporate earnings, though the non-stop pace of the rally caused some to wonder if it was overdone.

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