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Bleak payrolls report mauls Wall St; volume thin

Stocks tumbled on Thursday, driving the S&P 500 down to its third-straight weekly loss, as a steeper-than-expected slide in June non-farm payrolls revived caution about economic recovery prospects.

Daily News Wrap Up - July 2

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Markets tumble after dour jobs report, GM warns of liquidation if sale not approved, Desertec could create 240,000 jobs
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All-Williams Final at Wimbledon: 'It's so exciting'

Venus Williams, who will play for her third straight Wimbledon title on Saturday after winning her semi-final match on Thursday, thinks facing her sister Serena for the championship will be the hardest match of the tournament yet.
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U.S. home prices seen down over 40 percent: Barclays

U.S. housing prices will fall by a double-digit percentage from already beaten-down levels, resulting in an overall 40 percent plunge by the time foreclosures peak in the second half of 2010, Barclays Capital economist Michelle Meyer said.
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GM says if sale not approved it could liquidate

General Motors Corp would be forced into liquidation if its proposed asset sale were not approved despite urging from dissident bondholders that another course be pursued, the company's lead bankruptcy lawyer said on Thursday.
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Grim jobs data hammers Wall Street

Stocks plummeted on Thursday as a worse-than-expected slide in June non-farm payrolls fanned caution about economic recovery prospects.
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Mid-day Minute news - July 2

June job loss rate rises, Exelon Corp. raises offer to buy NRG, J&J buys stake in biotech firm Elan, acquires Alzheimer's research
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Mid-day minute - July 2 - Energy

Natural gas stockpiles rose 70 billion cubic feet in the week ended June 26 to 2.721 trillion cubic feet .Exelon Corp.rised its offer to acquire NRG Energy Inc. by 12 percent to $7.45 billion concluding is its best and final offer. NACEL Energy Corporation entered into a four long term wind development rights agreement for its Leila Lakes power generation facility
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North Korea ups tension with short-range missiles

North Korea test-fired four short-range missiles on Thursday, further stoking tension in the region that was already high due to Pyongyang's nuclear test and threats to boost its nuclear arsenal in response to UN sanctions.
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China carmaker drafting late Opel bid: source

China's state-run carmaker Beijing Automotive Industry Holding Co is preparing to make an offer for General Motors' Opel unit in the coming days, a source told Reuters, but the Russian partner of bid frontrunner Magna said the race was all but over.
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Weak jobs data sink Wall Street

Stocks fell sharply on Thursday after payrolls data showed more Americans than expected lost their jobs in June, dimming hopes of a quick economic recovery.
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Exelon boosts offer to acquire NRG by 12 percent

Exelon Corporation increased 12 percent its offer to acquire NRG Energy Inc. on Thursday to $7.45 billion saying it continues to pursue NRG because of the long-term value that can be created by industry consolidation.
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U.S. job losses accelerate, jobless rate hits 9.5 percent

U.S. employers cut 467,000 jobs in June, far more than expected, while the unemployment rate rose to 9.5 percent, the government said on Thursday in a report that showed a labor market continuing to struggle with a deep recession.

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