UNITED STATES

Goldman Sachs eyes repaying TARP in month: report

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Goldman Sachs Group Inc hopes to pay back the $10 billion it took from the U.S. government's $700 billion Troubled Asset Relief Program within a month, The New York Times said on Tuesday, citing people involved in the process.

Wall Street set to open lower on profit taking

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Wall Street was poised for a lower open on Tuesday the day after markets surged, as investors assessed a raft of recent moves to shore up the struggling economy and soft oil prices weighed on energy shares.
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U.S. Big Steel pushes for carbon fees on China

China's steel industry should face fees on its exports into the United States if Washington adopts greenhouse gas cuts and Beijing does not, U.S. steel industry officials and advocates said.
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Oil retreats towards $53 after 3 percent surge

Oil edged down toward $53 on Tuesday, as investors took profits after a 3 percent rise in the previous session that was supported by a surge on global stock markets on a new U.S. banking rescue plan.
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AIG employees hand over bonuses: Cuomo

Fifteen of 20 American International Group leading bonus recipients have agreed to give them back in full, said New York's top legal officer who is probing into $165 million in executive pay at the troubled company bailed out by the U.S. government.
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U.S. stock futures point to dip after strong rally

U.S. stock index futures pointed to a lower opening on Wall Street on Tuesday, following the previous session's sharp rally fueled by better than expected housing data and by Washington's plan to help banks get rid of troubled assets.
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IRS challenges AIG unit tax deals: report

The U.S. Internal Revenue Service is challenging some of the tax deals structured by AIG Financial Products Corp, the unit of the giant insurer that has caused political outrage over $165 million in employee bonuses, the Wall Street Journal said.
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11 Money-Saving European Travel Tips

New air routes, hotels, and booking strategies make European travel almost as cheap as staying home. Europe. Cheap. Could there be a more tantalizing...
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Warner Bros launches made-to-order DVD service

Warner Bros on Monday became the first studio to open its film vault to made-to-order DVDs, as it sought new revenues in a slumping DVD market by making it possible for fans to buy decades-old films.
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AIG employees hand over bonuses: NYAG Cuomo

Fifteen of 20 American International Group leading bonus recipients have agreed to give them back in full, said New York's top legal officer who is probing into $165 million in executive pay at the troubled company bailed out by the U.S. government.
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Fed should focus on monetary policy: Fed, Treasury statement

Despite the recent wave of unconventional moves to help stabilize the U.S. economy, the Federal Reserve must maintain its independence and focus on the stability of the economy as a whole, rather than specific sectors or types of institutions, the Fed and the U.S. Treasury said in an unusual joint statement on Monday.
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BofA investor files to strip CEO of chairman job

Longtime Bank of America Corp shareholder Jerry Finger launched on Monday his formal campaign to strip Chief Executive Kenneth Lewis of his job as chairman, saying the bank took too much risk by acquiring Merrill Lynch & Co.
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China promotes overhaul of global monetary system

China on Monday proposed a sweeping overhaul of the global monetary system, outlining how the dollar could eventually be replaced as the world's main reserve currency by the International Monetary Fund's Special Drawing Right.
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Goldman mulls ICBC stake sale: report

Goldman Sachs Group may sell part of its 4.9 percent stake in Industrial and Commercial Bank of China , the Wall Street Journal reported on Monday, citing people familiar with the matter.
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Wall Street soars 7 percent on bank plan debut

Stocks surged around 7 percent on Monday after the Obama administration detailed a plan to purge toxic assets from bank balance sheets, fueling optimism about a revival in bank lending and driving double-digit gains in financial shares.
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Fed should stay focused on monetary policy: Treasury, Fed

Despite the recent wave of unconventional moves to help stabilize the U.S. economy, the Federal Reserve must not get sidetracked from its primary focus on monetary policy and should avoid actions that help specific economic sectors, the Fed and the Treasury said in an unusual joint statement on Monday.
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Bank plan ignites optimism, Wall St. surges 7 percent

Stocks surged around 7 percent on Monday after the Obama administration detailed a plan to purge toxic assets from bank balance sheets, fueling optimism about a revival in bank lending and driving double-digit gains in financial shares.
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Moody's cuts GE rating two notches, outlook stable

Moody's Investor Service cut General Electric Co's top-tier credit rating by two notches -- deeper than rival Standard & Poor's downgrade -- and said its outlook on the biggest U.S. conglomerate is now stable.

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