UNITED STATES

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Improving markets helped banks pass stress test

U.S. bank regulators breathed a huge sigh of relief in early April when improving financial markets looked set to push the nation's 19 largest banks through the gauntlet of tough stress tests in reasonably good shape.

Germany has plan for Opel if GM bankruptcy: paper

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Germany has a plan to protect the assets of carmaker Opel from creditors if its U.S. parent General Motors is forced into bankruptcy next month, German Economy Minister Karl-Theodor zu Guttenberg said in an interview with a German weekly.

Iran court to review U.S. reporter's case

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An Iranian court will hear Iranian-American journalist Roxana Saberi's appeal against her eight-year prison sentence for espionage on Sunday, her lawyer said on Saturday.
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U.S. infrastructure partnerships to shrink

Smaller, shorter and slower will be the key factors governing U.S. public-private partnerships going forward after recent proposed deals imploded due to political or financing troubles.
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AT&T to buy some Alltel assets for $2.35 billion

AT&T Inc said Friday it will buy the bulk of Alltel Wireless assets being divested by Verizon Communications Inc for $2.35 billion, and will sell some Centennial Communications Corp assets to Verizon Wireless for $240 million.
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U.S. banks rush to raise capital

Morgan Stanley and Wells Fargo sold more than $15 billion of shares and bonds, as the two companies rushed to the head of the line of banks looking to raise funds following government stress tests.
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Court reinstates Yahoo lawsuit over fake profiles

A U.S. appeals court on Friday reinstated a breach of contract claim against Yahoo Inc by an Oregon woman who said the company failed to remove nude photos and fake profiles posted by her estranged boyfriend after promising to do so.
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Admin wants Fed to oversee systemic risk: sources

The Obama administration is expected to propose legislation by June calling for the U.S. Federal Reserve to play a central role in regulating systemic risk in the economy, trade association sources said on Friday.
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Obama to propose Fed oversee systemic risk: sources

The Obama administration is expected to propose legislation to Congress by June calling for the U.S. Federal Reserve to regulate systemic risk in the economy, three trade association sources said on Friday.
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NY lawmaker wants World Trade towers built now

The rebuilding of the World Trade Center site needs to get back on track, New York State Assembly Speaker Sheldon Silver said on Friday, saying that at least two World Trade Center towers should be built without further delay.
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Obama White House aide resigns over low altitude NYC flight

President Obama’s military office aide resigned on Friday after an uproar over a low altitude flight by a jumbo jet used as Air Force One he approved over New York City which led bystanders to believe was part of another terrorist attack.
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Wall St leaps on bank optimism, jobs data

U.S. stocks rose on Friday, and the Nasdaq capped its longest stretch of weekly gains in a decade as stress test results and reassuring jobs data fueled hopes the worst is over for banks and the economy.
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Don't Be Fooled by Inflation

Strike up the band, boys, happy days are here again! Recently released short-term economic data, including unemployment claims, non-farm payrolls, home sales, and business spending, which had been so unambiguously horrific in February and March, are now just garden-variety awful.
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Chrysler dissident lender group drops challenge

A group of Chrysler LLC's dissident lenders disbanded, representatives said on Friday, removing the last legal hurdle to the automaker's quest to complete a merger with Italy's Fiat SpA with U.S. government backing.
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U.S. sheds fewest jobs in 6 months

U.S. employers cut 539,000 jobs last month, the fewest since October, according to government data on Friday that signaled the economy's steep decline might be easing and gave the stock market a boost.
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Bank confidence, data push Wall St higher

U.S. stocks rose on Friday, and the Nasdaq capped its longest stretch of weekly gains in a decade as stress test results and reassuring jobs data fueled hopes the worst is over for banks and the economy.
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U.S. unemployment rate reaches 8.9 percent

The month of April was no different to the previous as U.S. employers were once again left with no option but to slash their workforce yet again as the recession took another bite of the economy, slashing jobs by 539,000.
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Visionary or plane crazy? Airbus contest to decide

Tourists heading south for the winter may be transported to their dream destination in windowless airliners flying in formation like geese if Airbus accepts the advice of tomorrow's potential aircraft engineers.

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