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Obama, in Russia, praises democracy, blasts graft

President Barack Obama appealed to the Russian people on Tuesday to join the United States in overcoming past differences and building a prosperous democratic future free of corruption and the threat of nuclear war.

Midday minute - July 7 - Energy

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The U.S. Senate began debating the climate bill on Tuesday with hearings from three high-ranking officials. General Motors is on track to launch a plug-in sport-utility vehicle.

Oil falls 2 percent on economy, weak gasoline

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Oil fell 2 percent to below $63 a barrel on Tuesday, pressured by investors' caution over prospects for economic recovery and an expected increase in U.S. gasoline stocks in the heart of driving season.
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Midday Minute July 7 – Finance

U.S. credit card delinquencies reach all-time high Consumers are increasingly failing to meet credit card payments as they battle high unemployment rates and a shrinking economy which has left many cash strapped. Delinquencies on the value of all card debt soared to a record 6.60 percent from 5.52 percent in the fourth quarter.
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Oil falls below $63 on economy, weak gasoline

Oil dipped below $63 a barrel on Tuesday, pressured by investors' caution over prospects for economic recovery and by an expected increase in U.S. gasoline stocks for the week when Americans traditionally drive the most.
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U.S. consumer loan, card delinquencies set records

Soaring U.S. unemployment and a shrinking economy drove delinquencies on credit card debt to an all-time high in the first quarter as a record number of cash-strapped consumers fell behind on their bills.
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G8 plus G5 agree to end Doha in 2010

G8 leaders plus Brazil, India, China, Mexico and South Africa will agree at a summit on Thursday to conclude the Doha round of world trade talks successfully in 2010, according to a draft communique seen by Reuters.
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China to push global currency at G8

China, Russia and Brazil will use this week's G8 summit in Italy to push their view that the world needs to start seeking a new global reserve currency as an alternative to the dollar, officials said on Tuesday.
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KKR sells stake in Korea brewer OB to Affinity: sources

Kohlberg Kravis Roberts & Co has reached a deal to unload half of the equity in South Korea's No.2 beer maker, which it agreed to buy for $1.8 billion, to Affinity Equity Partners, two sources with direct knowledge of the process said on Tuesday.
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Business comments from Obama-Medvedev summit

Following are remarks by U.S. and Russian policymakers and company executives about business ties between the two countries during President Barack Obama's two-day trip to Moscow.
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Obama administration takes action on food safety

The Obama administration on Tuesday ordered tougher steps to curb salmonella and E.coli contamination in U.S. food processing plants and created a new deputy food commissioner post to coordinate safety in the wake of a salmonella outbreak.
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Futures slip on economy worries; earnings loom

U.S. stock futures pointed to a flat open on Tuesday as investors turned cautious ahead of corporate earnings results, and talk for the need of a second fiscal stimulus package underscored worries about the U.S. economic recovery.
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Futures rise as oil recovers, but economic woes nag

Futures pointed to a slightly higher open on Tuesday as the price of oil broke a four-session losing streak, which could lift energy shares, but investors remained cautious ahead of the start of earnings season.
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Oil rallies above $64 after four-day fall

Oil rose above $64 a barrel on Tuesday, after falling for four consecutive sessions on doubts over global economic recovery and potential improvement in demand for fuel.

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