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Oil pushes above $40 as equities support

Oil rose above $40 a barrel on Wednesday, extending a 4 percent rally in the previous session, lifted by firmer equities before the release of U.S. inventory data expected to show rising supply. World stocks rose on Wednesday after Federal Reserve Chairman Ben Bernanke signaled nationalization of big banks was not at hand. Investors' concern of nationalization had weighed on stocks. The equit...
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Netanyahu turns to the right to form Israel coalition

Benjamin Netanyahu's hawkish Likud party launched talks on Wednesday with right-wing parties on forming Israel's next government after he failed in initial efforts to enlist his main centrist rival in a broad coalition.
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Union leaders urge vote for Ford agreement

United Auto Workers union leaders urged members on Tuesday to approve a concessionary deal with Ford Motor Co, stepping up the pressure on General Motors Corp and Chrysler to reach similar cost-cutting labor agreements in coming weeks.
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Unpaid furloughs a trend for U.S. white-collar jobs

U.S. newspapers have done it. California police have too. Governments in California, New Jersey and Ohio say it will save the budget. Forcing workers to take unpaid time off is a new version of the American layoff.
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Bernanke says recession to linger

Federal Reserve Chairman Ben Bernanke warned on Tuesday the severe U.S. recession could drag into next year, but said banks should be able to weather the downturn without being nationalized, cheering markets.
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WTO urges G20 to uphold pledge to fight protectionism

Leaders of the G20 developed and emerging countries should not backtrack on their agreement last year to fight protectionism when they meet in London in April, the head of the World Trade Organization said on Wednesday.
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U.S. gas drilling boom stirs water worries

On a snowy hillside in rural southwest Pennsylvania, Larry Grimm drives his truck up a steep gravel track to a hilltop reservoir surrounded by orange plastic fencing and keep out signs.
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Obama seeks U.S. carbon emissions cap

President Barack Obama on Tuesday called on Congress to send him legislation that places a market-based cap on U.S. carbon polluting emissions and pushes the production of more renewable energy.
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Oil below $40 after 4 percent bounce

Oil shed on Wednesday some of the previous session's 4 percent gains but held above $39, after President Obama balanced his message of hope for the U.S. economy with a warning and ahead of data on U.S. oil stocks. Obama told Congress the United States would emerge stronger from its deepest economic slump in decades but said America faced a day of reckoning for its past excesses. The preside...
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Obama seeks the right tone on U.S. economy

President Barack Obama tidied up his economic message on Tuesday, reviving the hopeful Yes We Can spirit of his campaign and abandoning the Maybe We Can't impression he took to the White House.
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AIG may abandon asset sales plan: report

American International Group Inc may scrap a plan to repay a $60 billion U.S. government loan by selling businesses, after failing to find enough promising bidders, Bloomberg said, citing people with knowledge of the matter.
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Obama: U.S. will emerge stronger from crisis

President Barack Obama struck a balance between grim economic reality and a more hopeful outlook on Tuesday to try to reassure worried Americans their country will emerge from crisis stronger than before.
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Bernanke calms nationalization fears

Federal Reserve Chairman Ben Bernanke warned on Tuesday the severe U.S. recession could drag into next year, but said banks should be able to weather the downturn without being nationalized, cheering markets.
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BB&T keeps dividend steady as growth slows

Amid a time of crisis for the financial industry, shareholders of BB&T Corp., one of the largest U.S. regional banks, will continue to see steady dividend payments for fourth straight quarter although payout growth is slowing compared to previous years.
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Forex Daily Commentary - 25/02/2009

Australian Dollar: The Australian Dollar opens higher today at US65 cents having traded between a low of 0.6388 and a high of 0.6525 over the last 24 hours.
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Bank of America CEO: No talks on larger U.S. stake

Bank of America Corp Chief Executive Kenneth Lewis said the largest U.S. bank does not need more federal aid and is in better shape than most rivals, even as rumors, innuendo and falsehoods cause its stock to fall.
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Goal of U.S. autos task force not bankruptcy: senator

An Obama administration task force is carefully analyzing restructuring plans of General Motors Corp and Chrysler LLC , but bankruptcy is not the panel's goal, a U.S. senator said on Tuesday. Democrat Carl Levin of Michigan met with task force members this week on the turnaround plans submitted by GM and Chrysler that include a request for $22 billion more in bailout m...

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