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GM says reaches deal to sell Saab to Koenigsegg

Sweden's Koenigsegg, a niche manufacturer of some of the world's fastest and most expensive sports cars, has struck a deal to buy loss-making Saab Automobile from General Motors Corp, the companies said on Tuesday.

Greenberg testifies in trial of AIG lawsuit

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Maurice Hank Greenberg, former chief executive of insurer AIG, avoided direct answers in court testimony on Tuesday about a large block of AIG stock given decades ago to a private company he runs.
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Obama to call for U.S. financial product watchdog

President Barack Obama pledged on Tuesday to pursue major changes in U.S. financial regulation, but warned it will be a heavy lift politically with special interests already offering opposition.
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Best Buy sales, forecast disappoint, shares fall

Best Buy Co Inc posted lower first-quarter earnings and weaker-than-expected sales on Tuesday and implied earnings for the rest of the year would be worse than forecast, dragging its shares down more than 7 percent.
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Wall Street slides on mixed data, Best Buy drags

Stocks accelerated their drop on Tuesday as mixed economic data fed worries that the economic recovery may be anemic, while Best Buy's disappointing results pointed to a still weak consumer.
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Judge OKs Banco Santander settlement in Madoff case

A U.S. judge on Tuesday approved a legal settlement requiring a unit of Banco Santander SA , which fed billions to New York financier Bernard Madoff before his swindle was revealed, to pay $235 million.
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Wall Street loses ground on recovery worry

The Dow and the S&P 500 dropped to session lows on Tuesday, while the Nasdaq trimmed gains, as investors worried that the economic recovery's pace might not be as strong as initially hoped.
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Etihad engine deal eclipses Airbus, Boeing

An engine deal from Abu Dhabi's Etihad Airways worth more than $5 billion could be the biggest news to come from this week's Paris Air Show, where the global recession has frozen sales of planes from Airbus or Boeing Co.
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Commodities lift Wall Street, but caution weighs

Stocks rose on Tuesday as renewed U.S. dollar weakness lifted shares of oil and other natural resource companies, but concern that the pace of the economic recovery may be tepid limited a broad advance.
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U.S. May producer prices rise 0.2 percent

U.S. producer prices rose by less than expected in May despite a jump in gasoline costs, government data on Tuesday showed, while prices compared with a year ago notched their steepest fall since 1949.
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Best Buy posts lower quarterly profit, keeps view

Best Buy Co Inc maintained its forecast for the year after posting lower first-quarter earnings on Tuesday, dragging its shares down 3.5 percent even though the profit topped analysts' expectations.
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U.S. housing starts, permits jump in May

New U.S. housing starts and permits rebounded in May from record lows as ground-breaking for multifamily units surged after tumbling the prior month, a government report showed on Tuesday.
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Best Buy sales and forecast disappoint, shares fall

Best Buy Co Inc posted lower first-quarter earnings and weaker-than-expected sales on Tuesday and also implied earnings for the rest of the year would be worse than forecast, dragging its shares down 3 percent.

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