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GM sale hearing in recess in U.S. bankruptcy court

A General Motors Corp bankruptcy court hearing in which the company is seeking to sell its main assets to a New GM began on Tuesday but moved to a recess almost immediately as the judge dealt with communication issues.

India's Tata Consultancy sees flat biz growth in Q1

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Tata Consultancy Services Ltd, India's top software services firm by sales, sees flat business growth in its fiscal first quarter that ended on Tuesday as economic downturn crimped outsourcing, its chairman said.
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AIG says risk declining

American International Group Inc , the insurer rescued by $180 billion of federal bailouts, on Tuesday expressed optimism it will be able to repay government loans as it tries to rebound from punishing losses tied to derivatives.
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China delays Internet filter

China will delay a controversial plan to force manufacturers to bundle Internet filtering software with new personal computers sold in the country, in an abrupt retreat announced hours before the policy was due to start.
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Pace of home price declines slows in April

Prices of U.S. single-family homes fell in April from March but the pace of the decline moderated, suggesting stability is emerging in some regions, according to Standard & Poor's/Case Shiller home price indexes released on Tuesday.
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Bankruptcy court to rule on New GM plan

General Motors Corp is heading to bankruptcy court on Tuesday to seek approval to sell its assets to a New GM in a plan to reinvigorate the automaker under U.S. government ownership.
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Japan's Elpida secures lifeline with $1.7 billion aid

Japan pledged to shore up Elpida Memory Inc with public money, bringing the total aid expected to come to the loss-making chip maker to $1.7 billion as it struggles to compete with its larger South Korean rivals.
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Iraq drives hard bargain at historic oil sale

Iraq auctioned contracts to run eight giant oil and gas fields Tuesday as it sought to take charge of its own reconstruction after six years of war, but oil companies were reluctant to pay what it asked.
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Stock futures flat as investors await data

U.S. stock futures were flat on Tuesday ahead of a batch of new data that may give investors insight into the state of the recession-hit economy on the last day of the second quarter.
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Plug-in autos charged overnight OK for grid

If plug-in hybrid vehicles proliferate as expected, utilities will be able to handle the added power demand without building new plants or straining transmission power grids as long as owners plug in overnight, the New York grid manager said in a report issued on Monday.
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U.S. joins International Renewable Energy Agency

The United States joined the International Renewable Energy Agency (IRENA) on Monday as part of the Obama administration's commitment to developing a new energy policy, Secretary of State Hillary Clinton said.
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Airlines lost $3 billion in first quarter

The world's airlines lost more than $3 billion in the first quarter of 2009, the International Air Transport Association said on Tuesday, maintaining its estimate for full-year losses of $9 billion.
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Oil spikes to 8-month high on brief Brent bid frenzy

Oil prices jumped more than 2 percent to an eight-month high above $73 a barrel on Tuesday, as a sudden spike in Brent buying pinned on fund positioning ushered out the market's best quarterly gain since 1990.
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Jackson's mother wins temporary control of estate

Michael Jackson's mother Katherine on Monday won temporary guardianship of the late singer's children and control of his estate as a legal battle over his kids, money and belongings began to take shape.
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Amazon shuts Web associates as sales taxes looms

Online retailer Amazon.com is pulling the plug on its Internet associates program in Rhode Island in retaliation for potentially having to pay a new sales tax to the state, its second such move in a week.
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Obama focuses on Senate after first climate win

President Barack Obama, fresh from his first legislative victory on climate policy, expressed confidence on Monday that new greenhouse gas emission limits would become law with help from the U.S. Senate.

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