UNITED STATES

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U.S. to pull GM funding if sale not done by July 10

The only viable option to save General Motors Corp is a sale of its main assets to a New GM backed by the federal government, a U.S. Treasury official told a bankruptcy court on Wednesday as the automaker sought approval for the deal.

Ford U.S. sales fall 10.9 percent in June

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Ford Motor Co said on Wednesday that U.S. sales fell 10.9 percent in June for all of its brands, at the top of its expectations for the only U.S. automaker not supported by emergency government loans.

Google still dominates, Bing catching up

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Analysis surveyed by StatCounter.com on Wednesday said Google still dominates the search engine markets despite its slide back from April from 79.07 to 78.48 percent share last month.
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Job losses overshadow manufacturing recovery

U.S. manufacturing mustered its highest level of activity in nearly a year in June but unexpected weakness in private sector employment signaled how slow an economic recovery might be, reports released on Wednesday showed.
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Thousands march in HK for economic relief, democracy

Tens of thousands of people marched on Wednesday in Hong Kong's biggest annual protest calling for greater democracy as well as improved economic relief measures and investor protection during the financial crisis.
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Iran demands EU apology before any nuclear talks

Iran, stung by European Union criticism of its handling of post-election unrest, on Wednesday accused the 27-nation bloc of meddling and demanded an apology before any more talks on Tehran's disputed nuclear program.
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Comorans protest over plane crash, black box located

French and U.S. aircraft hunted on Wednesday for survivors from a plane that crashed off Comoros, while in Paris expatriates from the Indian Ocean archipelago tried to block another flight by the same airline.
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OAS sends Honduras an ultimatum after coup

Honduras faced growing pressure to reinstate ousted President Manuel Zelaya on Wednesday after the Organization of American States set a 72-hour deadline to end a crisis triggered by a military coup.
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Market Outlook for Wednesday

Investors will be watching the release of U.S. automakers' June auto sales for insight into the resilience of consumers. Economists in a Reuters survey expect annualized sales of 3.33 million cars and 4.00 million trucks. In May, car sales stood at 3.35 million, and truck sales were 4.03 million.
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Stock futures point higher as oil rises

Stock index futures moved higher on Wednesday as commodity prices rose and investors looked ahead to a private sector employment report expected to show an easing of job losses ahead of the government's June payroll data.
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Biogen gains rights to Acorda's MS drug

Biogen Idec Inc has licensed rights to Acorda Therapeutics Inc's experimental multiple sclerosis drug outside the United States as the large biotech company expands its MS franchise, the companies said on Wednesday.
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Shinsei to buy Aozora to create Japan's No.6 bank

Japan's Shinsei Bank plans to buy rival Aozora Bank in a deal that brings together two loss-making lenders in hopes of building a stronger bank that can return to growth in both retail and corporate banking.
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California misses budget deadline, readies IOUs

California's lawmakers failed to agree on a balanced budget by the start of its new fiscal year on Wednesday morning, clearing the way to suspend payments owed to the state's vendors and local agencies, who instead will get IOU notes promising payment.
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Oil above $71 on inventory drop, Nigeria

Oil rose above $71 a barrel on Wednesday following a large drop in crude inventories in the United States, the world's top energy consumer, and output disruptions from militant attacks in Nigeria.
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IBTimes Daily Outlook for U.S. Industries, Wed July 1

Ford Motor Corp. will announce results for its sales in June on Wednesday, with the company's chief U.S. sales analyst saying the industry as a whole is improving and the annualized sales rate could hit 10 million in June sales this year.
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IBTimes Daily News Outlook - Wed., July 1

Auto sales results for June, Windows 7 rebooting, Energy Sec. likely to announce more funds allocations, General Mills releases earnings, B of A completes Countrywide purchase, NASA launches Endeavour, Weekly Petrolum status, Africa Energy Forum, Nevada sales tax hike, Federal student loans rate change

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