UNITED STATES

Abercrombie loss below view; Ruehl under review

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Abercrombie & Fitch Co posted a much bigger-than-expected quarterly net loss as cost-cutting efforts failed to offset a sales decline, and its shares fell 7.5 percent in premarket trading.
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Stocks up on recovery hope; euro slips on Germany

Asian stocks rose on Friday as investors bought shares that stood to benefit the most from an expected global recovery, but were set for their biggest weekly decline since March as volume thinned and some recent gains were cashed in.
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Recovery hopes still alive, push up Asia stocks

Asian stocks rose on Friday as investors bought shares that stood to benefit the most from an expected global recovery, but still looked set to post their biggest weekly decline since March on worries equity markets have risen too far, too fast.
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Hartford, insurers win OK for Treasury funds

Hartford Financial , the No. 4 U.S. insurer beset by worries about capital, won approval on Thursday to raise $3.4 billion via the government's bank bailout plan, sending its shares 6 percent higher.
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Blockbuster posts lower profit, shares slide

Blockbuster Inc posted lower first-quarter profits, citing weak DVD titles and competition from a strong box office, and warned that same-store sales would continue to be lower in 2009. Its shares slid over 23 percent in after-hours trade.
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GM maps legal strategy, Chrysler cuts dealerships

General Motors Corp said on Thursday night it would most likely pursue the same legal strategy as Chrysler if it spirals into bankruptcy, while Chrysler unveiled details for slashing its dealer network.
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Blockbuster posts lower profit

Top U.S. movie rental chain Blockbuster Inc posted lower first-quarter profits on Thursday and warned that same-store sales would continue to be lower in 2009, but said it was still comfortable with its prior full-year outlook.
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Obama says U.S. can't keep borrowing from China

President Barack Obama raised the prospect on Thursday that China and other nations could stop buying U.S. debt and said the United States needed to tackle its deficit to avoid long-term economic damage.
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Wells Fargo to pay next dividend to U.S. Treasury

Wells Fargo & Co., whose chief executive previously said the bank did not need or want a $25 billion infusion from the government last year, said on Thursday it is set to make its next quarterly dividend payable to the U.S. Treasury on Friday.
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Oil falls on IEA cuts

International Energy Agency on Thursday said global demand in oil consumption will fall 3% in line with the OPEC agreements rising prices due to sentiment rather than supply and fundamentals demands.
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Mapping The Chrysler Fallout

The map below demonstrates the chickenpox impact that just the initial round of Chrysler dealer shutdowns will have on the US economy. As is evident from the map (an interactive version of the map can be accessed here), the pain will be focused east of the Rockies, although major West Coast metropolises will not be spared either: every dot represents an automotive dealer that Chrysler disclosed to...
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U.S. foreclosures jump to record high

U.S. foreclosure activity in April jumped 32 percent from a year ago to a record high, and should mount because temporary freezes on foreclosures ended in March, RealtyTrac said on Wednesday.

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