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U.S. lays groundwork for bank stress test release

U.S. regulators on Thursday released some details about their bank stress tests, moving to bolster the credibility of a process some investors worry might not reveal the financial sector's true health.
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Sony joins other studios in digital conversion deal

Sony Corp's Sony Pictures on Thursday became the sixth major studio to support a theater-chain upgrade to digitally convert 20,000 U.S. and Canadian cinema screens, at an estimated cost of more than $1 billion.
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U.S. to unveil bank test results May 4

The results of tests to gauge how the top 19 U.S. banks would fare should the deep U.S. recession worsen will be publicly disclosed on May 4, a regulatory official said on Thursday.
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Obama backs Mexico's effort to fight drugs

In his second big trip abroad since becoming U.S. president, Barack Obama pledged strong support on Thursday for the Mexican government's fight against powerful drug cartels, who are waging turf wars along the border.
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U.S. recession drags but recovery hope grows

The number of Americans claiming jobless aid hit a record in early April and groundbreaking for new homes slumped last month, but a top Federal Reserve official voiced hope the recession was ending.
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JPMorgan shares up after profit tops view

JPMorgan Chase & Co posted better-than-expected quarterly profit, demonstrating the kind of resilience that allowed Chief Executive Jamie Dimon to assert the bank could pay back the government $25 billion immediately.
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Twitter popularity soars 131 Pct in a month

Visits to the micro-blogging site jumped 131 percent in March to 9.3 million in the U.S., that’s more than5 million users from February, according to data from comScore.
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Islamic banks see Iran opportunities

MANAMA - Several foreign banks see huge untapped opportunities in Iran for Islamic finance, spurred on by hopes U.S. President Barack Obama's new approach toward the Islamic Republic will end years of sanctions hampering busines
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General Growth Files for Chapter 11 Protection

On Thursday the nation's second-largest shopping mall owner, General Growth Properties, filed for Chapter 11 bankruptcy protection after failing to reach an out of court consensus on how to restructure its $27 billion debt.
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Recession still dragging down U.S. economy

The number of Americans claiming jobless aid hit a record in early April and groundbreaking for new homes slumped last month, but a top Federal Reserve official voiced hope the recession was ending.
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Recession likely to be long, recovery slow: IMF

The current global recession is likely to be unusually long and severe and the recovery sluggish since it sprang from a financial crisis, the International Monetary Fund said on Thursday.
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Harley, Polaris results hint consumer flight slows

Stronger-than-expected results on Thursday from motorcycle maker Harley-Davidson Inc and off-road vehicle maker Polaris Industries Inc raised a glimmer of hope that the buyer pullback bedeviling consumer goods companies may be slowing.
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JPMorgan profit tops view

JPMorgan Chase & Co reported better-than-expected first-quarter profit as debt trading and underwriting revenue surged, lifting the shares of the second-largest U.S. bank by as much as 4.5 percent.
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JPMorgan profit tops view; ready to repay TARP

JPMorgan Chase & Co reported better-than-expected first-quarter profit as debt trading and underwriting revenue surged, lifting the shares of the second-largest U.S. bank by as much as 4.5 percent.
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Obama says U.S. high-speed rail overdue

President Barack Obama outlined his plan for long overdue high-speed rail on Thursday that would rival air travel, create jobs and help curb the U.S. transportation system's appetite for oil.

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