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Russia drops unilateral WTO bid for ex-Soviet pact

Russia threw its 16-year bid to join the World Trade Organization into jeopardy on Tuesday when Prime Minister Vladimir Putin said Moscow would only join the trade body in partnership with two former Soviet republics.

U.S. bankruptcies highest since 2005

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U.S. bankruptcy filings rose in the first quarter to the highest since 2005, government data show, as rising unemployment, falling housing prices and tight credit made it harder for people to hold off their creditors.

Oil rises $1 as dollar weakens

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Oil rose $1 on Tuesday to top $69 a barrel, boosted by the weaker dollar and expectations of another draw in U.S. crude inventories.
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Pakistani army backs up militia fighting Taliban

The Pakistani army came to the help of a pro-government militia fighting Taliban in a northwestern district on Tuesday as the United States said Pakistan was gaining in its offensive against the militants.
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U.S. envoy assures Israel of strong alliance

U.S. envoy George Mitchell said on Tuesday that Washington was seeking swift renewal of Israeli-Palestinian peace talks and promised Israel its alliance with the United States would remain strong despite differences.
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Wall Street cuts gains on TARP unease

The Dow industrials turned negative on Tuesday while the S&P 500 and Nasdaq pared gains on concerns that banks' repayment of government bailout money may hurt the economic recovery.
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Reporters' families seek mercy from North Korea

Relatives of two U.S. journalists sentenced to 12 years hard labor in North Korea called on the reclusive state to show compassion, while Pyongyang threatened to use nuclear weapons to defend itself.
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U.S. seeks tougher climate steps from China

China must press ahead with new ways to cut greenhouse gas emissions for the world to have hope of containing global warming, a U.S. energy official said, urging cooperation to end distrust between the two biggest emitters.
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P&G to name McDonald CEO: report

Procter & Gamble Co is set to name Robert McDonald as its next chief executive officer, taking over from A.G. Lafley, the Wall Street Journal reported on Monday.
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Auto suppliers to seek new government aid: report

U.S. auto suppliers, who negotiated federal loans earlier this year, plan to ask the Obama administration's auto task force this week for $8-$10 billion in loan guarantees, Bloomberg reported on Tuesday.
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Auto suppliers to seek new govt aid: report

U.S. auto suppliers, who negotiated federal loans earlier this year, plan to ask the Obama administration's auto task force this week for $8-$10 billion in loan guarantees, Bloomberg reported on Tuesday.
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Asian shares falter on worries rally overdone

Asian shares fell on Tuesday for a second consecutive session as investors worried that a recent rally may be overdone, though oil prices extended gains ahead of data this week expected to show a fall in U.S. crude inventories.
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U.S. bailout panel: more bank stress tests needed

Bank stress tests should be repeated if the U.S. unemployment rate rises beyond levels assumed by regulators in a recent round of examinations that provided relief to markets, according to a report released by a bailout watchdog panel on Tuesday.

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