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Wall St. rallies on GE rating outlook and spending data

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Stocks rose for a third day on Thursday on relief that a ratings cut by S&P in General Electric was just one notch and that no further cuts loomed, while retail sales data showed some stabilization in consumer spending.
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Wall Street jumps on GE rating outlook and data

Stocks rose for a third day on Thursday on relief that S&P's credit rating cut for General Electric was just one notch and that no further downgrades loomed, while data showed some stabilization in consumer spending.
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Wall Street boosted by GE rating outlook, banks

Stocks rallied for a third day on Thursday on relief that a ratings cut by S&P in General Electric was just one notch and no further cuts loomed, while data showed signs of stabilization in consumer spending.
IBTimes Logo

Wall Street rises on GE rating outlook, banks

Stocks rose for a third day on Thursday on relief that a ratings cut by S&P in General Electric was just one notch and that no further cuts loomed, while data showed some stabilization in consumer spending.
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Sirius XM to roll out iPhone application

Sirius XM Radio Inc looks to expand the reach of its satellite radio service with the second-quarter launch of an iPhone application as it explores a potential marketing partnership with satellite TV provider DirecTV Group.
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Nationalizing banks would be nightmare: B of A CEO

Bank of America Corp's chief executive said on Thursday it would be a nightmare for U.S. banks to be nationalized, wiping out shareholders and perhaps bondholders, and further damaging an economy that might begin to recover as soon as this year.
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Wall Street gets boost from healthcare

U.S. stocks climbed for a third day on Thursday, rising more than 2 percent to session highs after Standard & Poor's cut General Electric's ratings by just a single notch and signaled no further downgrades loomed, while data suggested some stabilization in consumer spending.
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Wall St rises on GE outlook

U.S. stocks gained for a third day on Thursday on relief that S&P cut General Electric's ratings by just a single notch and signaled no further downgrades loomed, while data suggested some stabilization in consumer spending.
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GM says can survive March without new aid

General Motors Corp has told U.S. officials that it can survive through March without the additional $2 billion in emergency aid that it first requested, the automaker said on Thursday.
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Madoff pleads guilty to fraud

Bernard Madoff pleaded guilty on Thursday to charges he orchestrated the biggest financial swindle in Wall Street history and was ordered to jail to await a sentence that could last the rest of his life.
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Sirius XM sees better results in difficult 2009

Satellite radio provider Sirius XM Radio Inc said on Thursday it expects 2009 earnings before interest, taxes, depreciation and amortization to exceed $300 million despite a terrible auto sales outlook.
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North Korea gives notice of April rocket launch

North Korea has given global agencies notice of its plans to launch a satellite from April 4-8, an official said on Thursday in a move Washington has called provocative and views as a disguised long-range missile test.
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U.S. plays down naval confrontation with China

The United States sought on Wednesday to play down a confrontation between Chinese and U.S. naval vessels as the two sides held high-level talks on reviving growth and reining in North Korea's nuclear program.
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U.S. retail sales dip less than expected

U.S. retail sales dipped only slightly in February, a hint spending could be stabilizing, but a record high number of workers drawing state jobless benefits indicated pressure was still mounting on consumers.
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Iraq shoe thrower sentenced to three years in jail

An Iraqi reporter who hurled his shoes at former President George W. Bush was convicted of attempting to assault a foreign leader on Thursday and jailed for three years, dismaying many Iraqis who regard him as a hero.
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Pakistanis protest as government scrambles

Hundreds of black-suited Pakistani lawyers and flag-waving opposition activists launched a cross-country protest on Thursday, as the year-old civilian coalition government scrambled for ways to avert a showdown.
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Oil rebounds above $43

Oil rose more than $1 above $43 a barrel on Thursday encouraged by strong loan data from China, which investors speculated could feed through into economic growth, and ahead of an OPEC meeting.
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U.S. retail sales edge down

The number of U.S. workers drawing unemployment benefits hit a record in February as companies struggle with a 14-month recession, data showed on Thursday, but a slight easing in retail sales last month offered cautious optimism.

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