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What the Fed is considering at this week's meeting

The Federal Reserve meets this week at a time when the U.S. economy has shown some signs of improvement, and the central bank is likely to restate its support for boosting the economy through both conventional and unorthodox means.

IRS says set to pursue other banks on tax evasion

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The U.S. Internal Revenue Service is preparing to pursue other foreign banks for allegedly facilitating tax evasion by wealthy Americans following its high-profile case against Switzerland's UBS AG , an IRS official said on Monday.

Daimler reaches deal to offload Chrysler

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Daimler AG on Monday reached an agreement with Chrysler, the U.S. automaker's owner Cerberus Capital Management, and the U.S. Pension Benefit Guaranty Corp to exit its 19.9 percent stake in the company.
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3i InfoTech acquires JPMorgan unit

3i InfoTech said Monday it will acquire JPMorgan Treasury Services national retail lockbox Business (NRLB) to strengthen its capabilities and their respective core business processes.
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TARP cop sees unstressful bank tests

The adverse scenario used to test the health of the 19 largest U.S. banks is disturbingly close to current economic conditions, sparking a concern that there might need to be a second stress test, a U.S. financial bailout fund watchdog said on Monday.
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Flu fears spur Wall St sell-off; futures fall late

U.S. stocks fell on Monday on concerns the spreading of a new strain of flu could dampen optimism about the economy, overshadowing a sweeping overhaul of General Motors Corp and gains in biotechnology stocks.
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GM accelerates cost cuts

General Motors Corp on Monday launched a last-ditch bond exchange offer to avoid bankruptcy and planned to cut 21,000 U.S. hourly jobs in a new restructuring that would see the automaker nationalized under majority control by the U.S. government.
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Flu fears spur Wall St sell-off

U.S. stocks fell on Monday on concerns the spreading of a new strain of flu could dampen optimism about the economy, overshadowing a sweeping overhaul of General Motors Corp and gains in biotechnology stocks.
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Invesco and Ross to invest $1 billion in bank assets

Money manager Invesco Ltd and billionaire investor Wilbur Ross are leading a group committing $1 billion to buy toxic bank loans and securities through the U.S. government's Public-Private Investment Program.
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Flu a windfall for some drugmakers, shares jump

The threat of a pandemic triggered by a new swine flu strain that has killed more than 100 people in Mexico will provide a windfall for some makers of drugs, vaccines and protective masks.
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Wall Street falls as flu fears dampen economy hopes

Stocks fell on Monday as concerns that a possible global flu outbreak could dampen optimism about the economy overshadowed a cost-cutting plan from General Motors Corp and gains in biotechnology stocks.
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Chrysler, unions make progress as deadline nears

U.S. automaker Chrysler LLC showed signs of progress with its unionized workers in its battle to stay alive on Sunday with just days left to complete deals to slash labor and debt costs or face bankruptcy.
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Verizon results lifted by wireless growth

Verizon Communications Inc posted a higher-than-expected quarterly profit due to growth in cellphone customers, solidifying its market leadership following the acquisition of smaller rival Alltel.
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GM's Chevy Volt a Key Part of Automaker's Restructuring

General Motors Corp. unveiled its restructuring plan on Monday, which may help it avoid filing for bankruptcy protection, focusing on new product developments including a confirmation of current development plans for its highly anticipated electric vehicle, the Chevy Volt.
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Wall Street up as GM, techs outweigh flu anxiety

Stocks edged up on Monday as a cost-cutting plan from General Motors Corp and a rebound in technology stocks offset fears that a possible global flu outbreak could delay an economic recovery.
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Clinton says U.S. will never sell out Lebanon

Secretary of State Hillary Clinton vowed on Sunday that the United States would never sell out Lebanon in any deal with Syria and she urged the Lebanese to hold an open and fair election in June.
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Stocks lose ground after WHO comments

The S&P 500 and Nasdaq briefly turned lower on Monday, and the Dow Jones industrial average pared gains, after the World Health Organization commented on the swine flu outbreak.
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Has globalization made us more catastrophe-prone?

As the world grapples with the worst economic downturn in decades and the possibility of a flu pandemic, a growing body of research suggests the complexity of the modern global economy may make us more vulnerable than ever to catastrophe.
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Wall Street gains ground on defensives, 3M

Stocks recovered ground to turn positive on Monday as investors scooped up shares of defensive stocks in the wake of anxiety that a possible global flu outbreak could further hamper the world economy.

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