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Automaker bankruptcy fears rattle parts suppliers

Fears that a major U.S. automaker could seek bankruptcy protection are causing auto parts suppliers to demand quicker payments from the manufacturers, exacerbating problems for the already hard-pressed car makers.

Oil jumps to around $51 ahead of G20

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Oil rose more than $3 per barrel to around $51 on Thursday as rising equities markets bolstered sentiment during a G20 summit which investors hoped would deliver measures to restore global growth.
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World stocks soar as G20, ECB meet

World stocks powered higher on Thursday as hopes grew that the U.S. economic decline was reaching a bottom while the euro gained despite expectations of an interest rate cut from the European Central Bank.
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HSBC shares jump 15 percent in HK to 1-month high

Shares of HSBC vaulted over 15 percent in Hong Kong in their biggest daily advance in five months on Thursday, joining a global bank rally spurred by encouraging U.S. data and an expected easing of accounting rules.
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Netflix delivers 2 billionth movie

Netflix Inc on Thursday said it delivered its two billionth movie and gave the lucky recipient of the milestone DVD a complimentary lifetime membership.
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AIG problems not his fault, says Greenberg: report

Maurice Greenberg said he was not responsible for problems at American International Group since they occurred after he left, the Wall Street Journal reported citing an interview with the former chief of the company.
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HSBC shares climb 10 percent, scale one-month high

Shares of HSBC vaulted more than 10 percent to a one-month high on Thursday, feeding off a rally in Wall Street banks, spurred by encouraging U.S. homes sales and an expected loosening in accounting rules.
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Asia stocks gain as autos rally; ECB awaited

Asian stocks rose on Thursday, with investors seeing a sliver of hope the U.S. economy has bottomed, while the euro edged up before a European Central Bank meeting at which rates may be cut for the last time in a while.
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U.S. starts UBS tax fraud cases: report

The U.S. Justice Department has opened about 100 criminal investigations into wealthy American clients of the Swiss bank UBS AG , the New York Times said, citing a person briefed on the matter.
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U.S. auto sales plunge but bottom seen near

U.S. auto sales fell 37 percent in March, a smaller-than-expected drop that encouraged hope that the world's largest car market is nearing a bottom after a freefall that has pulled the industry into a deepening crisis.
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KPMG hit with lawsuit over New Century collapse

Accounting giant KPMG was hit with a billion-dollar lawsuit on Wednesday over claims its grossly negligent audits helped trigger the collapse of a top subprime mortgage lender at the start of the U.S. housing crisis.
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North Korea starts fuelling rocket

North Korea has begun fuelling a long-range rocket and could launch it by the weekend, CNN said, with the United States and others promising punishment for a move they say violates U.N. resolutions.
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G20 leaders craft crisis response

World leaders are set to declare an end to unfettered capitalism at a G20 summit on Thursday after France and Germany demanded they act fast on promises to prevent a repeat of the worst economic crisis since the 1930s.
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U.S. seen facing danger of 2nd recession next year

Although the U.S. economy is expected return to growth later this year, there is a danger of a second recession if monetary easing and a weak dollar leads to increased inflation expectations, a report said on Wednesday.
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Auditor KPMG hit with billion-dollar U.S. lawsuit

Accounting giant KPMG was hit with a billion-dollar lawsuit on Wednesday over claims its grossly negligent audits helped trigger the collapse of a top subprime mortgage lender at the start of the U.S. housing crisis.
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U.S. auto sales plunge, but bottom may be near

U.S. auto sales fell 37 percent in March, a smaller-than-expected drop that encouraged hope the world's largest car market is nearing a bottom after a freefall that has pulled the industry into a deepening crisis.
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GM says UAW contract changes could save $1.1 billion

Changes to General Motors Corp's contract with the United Auto Workers union could save the automaker $1.1 billion or more in hourly labor costs, GM said in a report to the U.S. Treasury released on Wednesday.
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US, Russia hold talks to reduce nuclear Warheads

US President Barrack Obama and Russian President Dmitry Medvedev committed to launch negotiations on a new nuclear arms treaty to reduce nuclear warheads on Wednesday, issuing a broader cooperation pact across a wide range of policy areas.
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Obama calls for unity as Splits surface G20

US President Barack Obama said that all the participating countries at G20 summit should work together to tackle the global financial crisis and should recognize they had to forget their occasional differences on how to promote economic growth and trade.
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GE and Intel to unveil health care partnership

U.S. conglomerate General Electric Co and Intel Corp , the world's largest chip maker, have scheduled a joint press conference for Thursday, and are expected to discuss an alliance in health care, according to a source with knowledge of the plans.
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U.S. auto sales plunge, but bottom seen

The U.S. auto industry's March sales met or beat Wall Street's dismal expectations, sending a bit of light into a sector struggling to mimic the incentive-driven successes of their European rivals.

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