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Madoff gets 150 years for massive investment fraud

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Bernard Madoff was sentenced on Monday to 150 years in prison -- the maximum penalty the judge could give him for extraordinarily evil crimes in Wall Street's biggest and most brazen investment fraud.

Ford sees market share gains, increases production

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Ford Motor Co said on Monday it expects to gain U.S. market share in June as its sales would hold up much better than the rest of the industry and signaled its increasing confidence by raising production.
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Genachowski sworn in as FCC chairman

Julius Genachowski, a telecommunications industry executive, was sworn in as the new chairman of the Federal Communications Commission on Monday, an agency spokesman said.
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Wall St buoyed by oil sector, window dressing

Stocks rose on Monday as higher oil prices lifted shares of energy companies and investors bought shares to improve their holdings on the day before the second quarter draws to a close.
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Travel Picks: Notorious hotel rooms

Some hotels are renowned for their views or for their service. Others are famed for the outrageous, flamboyant or destructive behavior of their guests.
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Ford sees June sales drop of less than 20 percent

Ford Motor Co expects its U.S. sales for June will decline by less than 20 percent, giving it a higher share of the largest auto market amid early signs that demand has begun to stabilize, an executive said on Monday.
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Congress eyes market impact of speculators: Vilsack

Congress is eyeing ways to make sure speculative trading helps commodity markets rather than distorting pricing signals, U.S. Agriculture Secretary Tom Vilsack said in a Reuters Television interview Monday.There are concerns, Vilsack said, noting he has spoken about the issue with Tom Harkin, chairman of the Senate Agriculture Committee.I suspect that there will probably be an effort to make...
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Madoff gets 150 years for vast investment fraud

Disgraced financier Bernard Madoff was sentenced to 150 years in prison Monday for perpetrating Wall Street's biggest and most brazen investment fraud, the maximum punishment allowed for what the judge called extraordinarily evil crimes.Cheers and applause came from the courtroom -- filled with his fleeced investors -- as the judge handed down the penalty, apparently unconvinced that Madoff h...
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Bernard Madoff sentenced to 150 years in prison

Disgraced financier Bernard Madoff was sentenced to 150 years in prison on Monday for perpetrating Wall Street's biggest and most brazen investment fraud, the maximum punishment for what the judge called an extraordinarily evil crime.Cheers and applause came from the courtroom -- filled with his fleeced investors -- as the judge handed down the penalty.Madoff, 71, stood passively with his hands c...
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Comcast rolls out wireless Web for consumers

Comcast Corp, the largest U.S. cable operator, said on Monday it is introducing a wireless service for subscribers to access the Web beyond their homes anywhere within the United States.The so-called fourth-generation (4G) wireless service, is the first execution of a partnership between Comcast, Clearwire Corp and other companies that use the emerging WiMax high-speed mobile technology.Many consu...
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Comcast rolls out wireless Web

Comcast Corp, the largest U.S. cable operator, said on Monday it is introducing a wireless service for subscribers to access the Web beyond their homes anywhere within the United States.The so-called fourth-generation (4G) wireless service, is the first execution of a partnership between Comcast, Clearwire Corp and other companies that use the emerging WiMax high-speed mobile technology.Many consu...
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Centenarians show it's never too late to tweet

Celebrities and hip adults aren't the only people flocking to Twitter, the social-networking site. Even centenarians have learned to tweet.Three percent of U.S. centenarians questioned in a new survey said they use the service that allows users to send short text messages, or tweets, of up to 140 characters at least once a week to keep in touch with their friends and family.Another 10 percent sen...
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EU Chamber asks China to reconsider Internet filter

The European Union Chamber of Commerce in China urged Beijing to reconsider implementing a controversial Internet filter, saying on Monday it raised serious concerns about security, privacy and user choice.The EU Chamber said it supported measures to protect children from potentially harmful content on the Internet, but this goal could be better achieved through a healthy and open dialogue on pare...
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Credit card industry to remain lucrative: study

The credit card industry will continue to provide one of the most lucrative returns of the asset classes within banks' portfolios even after new U.S. credit card rules are put in place, analysts at Keefe, Bruyette and Woods said.Congress is mulling regulations on interchange rates -- fees retailers and merchants have to pay to banks that issue credit cards. The legislation would give merchants an...
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Oil and economy optimism lift stocks

Stocks rose on Monday as higher oil prices boosted energy shares, and signs of life in the global economy and overseas markets renewed investor optimism on the prospects of a recovery.Oil futures jumped almost 3 percent after Nigerian militants said they attacked a Royal Dutch Shell facility and the U.S. government said oil demand in April was revised upward from a previous estimate...
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US copper hits 2-week, over-looks China buying halt

U.S. copper futures climbed to a two-week high early Monday, as investors over-looked an overnight confirmation that China has halted its red metal purchases and bid the market up in line with equities.
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Jailed swindler Madoff goes to court to hear fate

Disgraced financier Bernard Madoff heard scorn from his victims on Monday at a sentencing hearing at which he will learn his punishment for running Wall Street's biggest and most brazen investment fraud.Emotional victims asked Judge Denny Chin to impose the maximum sentence of 150 years, an effective life term for the 71-year-old Madoff.How could somebody do this to us? How could this be real? ...
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Israel to build 50 new homes at W.Bank settlement

Israel's Defense Ministry said Monday it had approved construction of 50 new homes at a West Bank settlement as part of a plan for 1,450 housing units, an expansion that defies a U.S. call for a settlement freeze.
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Central banks seek rankings for financial products

Financial products should be treated like medicines and sold to consumers only when they are certified safe to prevent a repeat of last year's financial meltdown, the world's central bankers said on Monday.The Bank for International Settlements , which acts as a forum for central banks, said government efforts to revive the global economy might have only a temporary impact because banks are not ...
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State Street may face SEC charges over mortgages

Asset management and servicing giant State Street Corp said it might face civil charges by U.S. securities regulators for exposing investors to losses on subprime mortgages.The company said on Monday that Securities and Exchange Commission staff had issued a Wells notice to its banking unit on Thursday regarding disclosures and management by State Street Global Advisors of acti...
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Honduras isolated over Zelaya ouster

Leftist Latin American leaders rallied around ousted Honduran President Manuel Zelaya on Monday and tried to thrash out a response to an army coup that sparked protests in the impoverished nation and drew worldwide condemnation.
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Financial products should be treated as drugs: BIS

Financial products should be treated like medicines and sold to consumers only when they are certified safe to prevent a repeat of last year's financial meltdown, the world's central bankers said on Monday.The Bank for International Settlements , which acts as a forum for central banks, said government efforts to revive the global economy might have only a temporary impact because banks are not ...

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