UNITED STATES

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U.S. retail sales slump for second straight month

Sales at U.S. retailers fell for a second straight month in April as cash-strapped consumers held back on some purchases, according to a government report on Wednesday that dented hopes the economy was beginning to improve.

Geithner says U.S. financial system starting to heal

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The U.S. financial system has completed a big part of the painful adjustment away from its excessively leveraged state, and lending is starting to improve, U.S. Treasury Secretary Timothy Geithner said on Wednesday.
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Macy's quarterly loss smaller than expected

Macy's Inc posted a smaller-than-expected quarterly loss on Wednesday as cost cuts eased the pain of declining sales at its department stores, and its shares rose 1.6 percent in premarket trade.
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EU warms to Mexican path to global climate deal

Global talks on combating climate change this year might progress best by focusing on Mexico's proposal for a world climate change fund, one of the European Union's top negotiators said.
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Macy's posts wider quarterly net loss

Macy's Inc posted a wider quarterly loss on Wednesday, hurt by a persisting decline in sales as shoppers at its department stores shunned unnecessary items in the recession.
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Pacific Ethanol warns again on bankruptcy

Pacific Ethanol Inc said on Tuesday that its first-quarter sales had fallen by nearly half and warned again that it would need to file for bankruptcy protection if it could not soon restructure its debt.
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Dr Pepper profit beats Street view and ups forecast

Dr Pepper Snapple Group Inc reported higher-than-expected quarterly profit on Wednesday as consumers drank up its value-priced soft drinks, and the company raised its 2009 profit forecast, sending its shares up 5.9 percent in premarket trade.
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Intel hit with record EU antitrust fine

The European Commission imposed a record 1.06 billion euros ($1.45 billion) fine on chipmaker Intel Corp on Wednesday and ordered it halt illegal rebates and other practices to squeeze out rival AMD.
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U.S. retail sales seen flat

Economists surveyed by Reuters believe that U.S. retail sales outside the auto sector regained some strength in April, helped by Easter holiday shopping and moderately stronger consumer confidence.
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Dollar falls, economy recovery hopes grow

The U.S. dollar fell to a four-month low on Wednesday, its safe haven appeal eroded by optimism about a global economic recovery and concerns about the United States' fiscal health.
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Asia stocks rise, U.S. dollar drops to four-month low

The U.S. dollar fell to a four-month low on Wednesday as optimism about a global recovery and concerns about U.S. fiscal health reduced its safe haven appeal, while oil prices near $60 a barrel helped energy shares push most Asian stock markets higher.
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U.S. looks at financial sector pay overhaul: report

The Obama administration has commenced discussions on an initiative to change compensation practices in the financial-services industry, even at companies that were not recipients of federal bailout money, the Wall Street Journal said, citing people familiar with the matter.
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U.S. dollar drops to 4-month low, oil hangs near $60

The U.S. dollar fell to a four-month low on Wednesday as optimism about a global recovery and concerns about U.S. fiscal health reduced its safe haven appeal, while oil held near $60 a barrel on hopes for more energy demand as inventories tighten.
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Ford raises $1.4 billion through offering

Ford Motor Co said on Tuesday that it raised $1.4 billion through a 300 million share offer for $4.75 per share, a move that its chief executive said was an important step toward getting profitable again.
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EU banks urged to adopt 'stress tests'

The International Monetary Fund (IMF) has urged European banks to be subjected to so-called stress tests to help restore confidence in the banking system.

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