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Russia hopes Obama visit restores trust: Kremlin

Russia hopes next week's visit by U.S. President Barack Obama will help restore confidence between the two biggest nuclear powers, a Kremlin aide said on Friday, after strains over Georgia and a U.S. missile shield plan.

U.S. regulators close seven banks

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U.S. bank regulators closed seven institutions on Thursday, including six banks in Illinois controlled by one family and a small bank in Dallas, bringing the total number of U.S. bank failures to 52 so far this year.
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Novo Nordisk says Victoza cleared for EU market

Danish pharmaceuticals group Novo Nordisk's diabetes drug Victoza, a key driver for future sales, has won European Commission approval for marketing across the European Union, the company said on Friday.
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Steadier auto sales a bit of good news for aluminum

Budding signs of stability in the ailing U.S. automotive sector will kick-start a quicker demand recovery for aluminum, even as the industrial metal's supply base in U.S. warehouses will continue to swell from the industry's severe downturn.
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China moves on Opel with BAIC bid

A Chinese automaker has offered to buy a stake in General Motors unit Opel, challenging a deal from Canadian auto parts supplier Magna, sources said on Friday.
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Many top U.S. funds still making up lost ground

At the midyear mark, even some of the best-performing mutual funds of 2009 are still working on comebacks from dismal losses last year, underscoring lingering uncertainty in markets and in the funds industry.
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Cost cutting in U.S. to drive BPO healthcare business

Outsourcing of healthcare services is expected to gain momentum as the prolonged slowdown forces U.S.-based government agencies and healthcare firms to cut spiraling costs and deal with a shortage in qualified personnel.
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Quebecor World reorganization plans approved

Bankrupt commercial printer Quebecor World Inc said on Thursday that its U.S. and Canadian plans of reorganization have been approved by a U.S. bankruptcy court and the Quebec Superior Court.
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Oil below $67 after bleak U.S. jobs data

Oil traded below $67 a barrel on Friday, adding to a fall of nearly 4 percent the previous day, as unemployment data hardened views economic weakness would sap energy demand further and that last month's rally was overdone.
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Clearing key to making derivatives safer: EU

Derivatives pose risks on financial markets that central clearing of contracts would mitigate, the European Commission said on Friday, outlining plans that fall short of more radical U.S. steps.
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EU says clearing key to making derivatives safer

Derivatives pose risks on financial markets that central clearing of contracts would mitigate, the European Commission said on Friday, outlining plans that fell short of more radical U.S. steps.
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Global stocks dip as investors cautious on recovery

World stocks fell on Friday after a disappointing U.S. jobs report and a sluggish euro zone services sector survey reinforced expectations that the process of recovery in the global economy would be long and slow.
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Earnings to set tone for stocks in week ahead

With Wall Street stuck in a range since May, the start of second-quarter earnings season next week could prove to be a decisive factor for determining how much faith investors should have in an economic recovery.
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Ford sales jump, rest of Canada auto sector slumps

Ford Motor Co of Canada was the number one selling automaker in the country for the first time in 50 years as it posted a 25 percent jump in sales in June over a year earlier, the company said on Thursday.
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MySpace suicide conviction tentatively dismissed

A federal judge on Thursday tentatively dismissed the conviction of a suburban mother accused of driving a love-lorn 13-year-old girl to suicide by tormenting her with a fake MySpace persona.

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