UNITED STATES

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U.S. recovery hopes face doubts on jobs, mortgages

The United States may have hit a bump on the road to economic recovery, according to data released on Wednesday, with half a million private sector jobs lost in May and mortgage applications falling last week in the face of rising interest rates.

Wall Street tumbles on oil's drag, data

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U.S. stock slid on Wednesday, snapping a four-day winning streak as retreating oil prices sunk shares of energy companies, while signs of further contraction in the service sector doused hopes the recession is abating.

Sallie Mae CEO sees loan losses peaking

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Student lender Sallie Mae expects loan losses to peak in 2009, although charge-offs are likely to stay high, Chief Executive Albert Lord said at a conference on Wednesday.
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Wall Street slides after data; energy weighs

U.S. stocks dropped on Wednesday on weaker-than-expected economic data, and energy and resource shares, led by Chevron, fell after the government reported a build-up in oil inventories, reflecting reduced demand.
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Bin Laden says Obama planted hatred seeds

Al Qaeda leader Osama bin Laden said U.S. President Barack Obama had planted the seeds of revenge and hatred toward the United States in the Muslim world and warned Americans to prepare for the consequences.
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Obama to address tough issues in speech to Muslims

President Barack Obama headed for the Middle East on Tuesday hoping to start mending U.S. ties to the Islamic world in a speech that aides say will reach out to Muslims but deal with tough issues like the peace process and violent extremism.
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Daily Forex Commentary 3/6/2009

Australian Dollar: As expected the Reserve Bank kept interest rates on hold at 3% yesterday with the major surprise coming in the form of a much lower than expected Current Account Deficit in the first quarter of the year.
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Dutch utility Essent scraps sale of waste unit

Dutch utility Essent scrapped the sale of its waste-management unit, blaming low prices and other problems with bids for the failure of an auction that had once aimed to raise a billion euros or more.
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U.S. jobs, mortgage data cloud recovery hopes

The U.S. economy's recovery may have stalled after data on Wednesday showed half a million private sector jobs were lost in May and mortgage applications fell last week as rising interest rates frightened away buyers.
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U.S. private sector axes 532,000 jobs in May

U.S. private employers chopped more than half a million jobs in May, signaling job conditions remain tough and dashing some hopes the economy was not deteriorating as rapidly as thought, a report on Wednesday showed.
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Stocks under pressure; dollar rebounds

European stocks fell and Wall Street was set for a weaker start on Wednesday as investors turned cautious after economic optimism pushed world stocks to fresh 7-1/2 month highs and sterling to 2009 peaks earlier.
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Wall Street set for lower open after ADP

U.S. stock index futures pointed to a lower open on Wall Street on Wednesday after data showed employers chopped more than half a million jobs in May, signaling conditions remained tough.
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Sony lifts curtain on new PSP

Sony Corp unveiled on Tuesday a smaller, lighter PlayStation handled game device called the PSP Go, in a race to catch rival Nintendo in an intensely competitive mobile games arena.
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Global stocks under pressure after rally

European stocks fell on Wednesday and government bonds ticked higher after investors turned cautious after optimism about the global economy pushed world stocks to fresh 7-1/2 highs and sterling to 2009 peaks earlier.
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U.S. Car Sales Falls

U.S. car sales fell again in May, dropping 34% to 925,824 vehicles, but showed some signs of stabilization as Ford, General Motors and Toyota reported their highest monthly totals this year.
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U.S. planned layoffs fall to lowest in 8 months

Planned layoffs at U.S. firms fell for a fourth consecutive month in May, reaching the lowest level in eight months and offering another sign that the United States may be pulling out of a steep economic tailspin.
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Job market still tough in May with 532,000 cuts

U.S. private employers chopped more than half a million jobs in May, signaling job conditions remain tough and dashing some hopes the economy was not deteriorating as rapidly as thought, a report on Wednesday showed.
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Stock index futures lower ahead of data

U.S. stock index futures pointed to a lower open on Wall Street on Wednesday, as investors were set to take profits ahead of key macroeconomic data on jobs and manufacturing.
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Stock index futures lower ahead of key data

U.S. stock index futures pointed to a lower open on Wall Street on Wednesday, as investors were set to book recent gains ahead of key macroeconomic data on jobs and manufacturing.
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U.S. court agrees to hear appeal on Chrysler sale

A U.S. Court of Appeals agreed on Tuesday to hear a challenge to Chrysler LLC's sale of most of its assets to a group led by Italian automaker Fiat , in a move that could potentially delay the deal.
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Stocks under pressure after rally; pound surges

European stocks fell on Wednesday and government bonds ticked higher after investors turned cautious after optimism about the global economy pushed world stocks to fresh 7-1/2 highs and sterling to 2009 peaks earlier.
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Stock futures signal dip; eyes on macro data

U.S. stock index futures pointed to a lower open on Wall Street on Wednesday, as investors were poised to pocket a portion of their recent lofty gains ahead of key macroeconomic data.

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