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Freed Guantanamo detainee accuses U.S. of torture

A British resident held at Guantanamo Bay for more than four years returned to Britain a free man on Monday and accused the U.S. government of inflicting medieval torture on him -- with British collusion.

Wall St. retreats as financials turn negative

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Stocks retreated on Monday and the S&P briefly fell more than 1 percent as financials relinquished earlier gains fueled by reports Citigroup is in talks to give the U.S. government a larger stake.

Pope names Dolan archbishop of New York

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Pope Benedict named the 59-year-old archbishop of Milwaukee as the next archbishop of New York, the highest profile post in the U.S. Catholic Church, the Vatican said on Monday.
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Stocks retreat, dragged by tech shares

Stocks retreated on Monday and the Nasdaq fell more than 1 percent as a sell-off in technology shares overshadowed gains in banks after reports that Washington could end up with a big stake in Citigroup common stock. Large-cap technology companies led the Nasdaq lower, including Apple , which fell more than 2 percent. The declines reversed an earlier bounce fueled by gai...
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U.S. may boost stake in Citigroup: source

Citigroup Inc is in talks to give the U.S. government a larger stake, a person familiar with the matter said, which could provide the government with a far greater say in the affairs of the ailing banking giant.
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Philadelphia papers owner files for bankruptcy protection

The publisher of The Philadelphia Inquirer and Daily News said on Sunday it filed for Chapter 11 bankruptcy protection, marking the latest milestone in a crumbling of the U.S. newspaper business. In a statement, Philadelphia Newspapers LLC blamed its filing on a rare trifecta of a dramatic decline in revenue, the worst economic crisis since the Great Depression and a debt structure out of line ...
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Stock futures rise on news government may boost Citi stake

Stock index futures rose on Monday as investors took reports that the U.S. government could take a bigger stake in Citigroup as signaling it is ready to avert further paralysis of the financial system. A report in the Wall Street Journal said the government may end up holding as much as 40 percent of Citigroup's common stock. Last week shares of Citigroup and Bank of America
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UBS shares hit new low on U.S. tax probe fallout

Shares in Switzerland's largest bank, UBS, fell to a new all-time low on Monday after the lender's top executives met with a barrage of criticism for the way they handled a U.S. probe into tax fraud.
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U.S. may up stake in Citi: source

Citigroup Inc is in talks that could see the U.S. government take a bigger stake, a source said, sparking a recovery in the battered share price of what was once the country's most valuable bank.
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Stock futures point to rebound on Citi relief

Stock index futures pointed to a higher open on Wall Street on Monday, as stocks bounced back from last week's steep losses on easing worries that Washington would have to nationalize embattled banks.
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Oil rises above $40 on Citi stake report

Oil rose above $40 a barrel on Monday, recovering from earlier losses after sentiment was lifted by a report that the U.S. government could end up owning as much as 40 percent of Citigroup.
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U.S. economy seen recovering in second half of '09: poll

slightly less than the 3.1 percent during the early '70s, the NABE said. The survey forecast the unemployment rate peaking at 9.0 percent in the fourth quarter, before edging lower from the second quarter of 2010. The U.S. jobless rate is currently at 7.6 percent, a 16-year high. Job losses are expected to persist through 2009, though steadily diminishing over the course of the year. Aver...
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U.S. oil rises above $40 on report of U.S. stake in Citi

U.S. oil rose above $40 a barrel on Monday, recovering from earlier losses, after a report that said the U.S. government could end up owning as much as 40 percent of Citigroup sparked relief among investors and lifted sentiment. But persistent worries about the health of the global economy and its impact on world energy demand continued to rank high on investors' concerns, keeping oil prices ran...
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U.S. stake in Citi may rise to 40 percent: reports

to also convert their preferred shares into common stock, the Journal reported. Until most of the news is known, there will be a lot of volatility and probably a downward trend in the equity market because we don't know how much pain for investors government measures will induce, said Dariusz Kowalczyk, chief investment strategist with SJS Markets in Hong Kong. By which I mean, will curr...
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U.S. may take big stake in Citi as crisis rages

something that is anathema to many U.S. politicians, executives and voters. This gives you the sense that authorities' worries have intensified that problems relating to the U.S. economy may potentially spill over to the rest of the world, said Sailesh Jha, senior regional economist at Barclays Capital, in Singapore. At a summit in Berlin on Sunday, European Union leaders backed a doubling...
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U.S. government may end up with 40 percent of Citi: reports

to also convert their preferred shares into common stock, the Journal reported. Until most of the news is known, there will be a lot of volatility and probably a downward trend in the equity market because we don't know how much pain for investors government measures will induce, said Dariusz Kowalczyk, chief investment strategist with SJS Markets in Hong Kong. By which I mean, will curr...
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U.S. seeking up to 40 percent stake in Citigroup: report

to also convert their preferred shares into common stock, the Journal reported. In a separate report, the Financial Times said Citigroup is pressing the U.S. government to agree on a new capital injection that would increase the authorities' stake in the bank to about 40 percent, but stop short of an outright nationalization. The FT said Citi insiders expect a decision on the company's future...
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Europe says all markets must be regulated

Europe said on Sunday it was time to get tough with tax havens and strictly oversee all financial markets as part of sweeping reforms to avoid future meltdowns. European Union leaders met in Berlin to forge a common approach to the global economic downturn that they can take to a meeting in April of the G20, a group of rich and big emerging economies charged with reforming the rules of world fina...
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Bernanke to reassure help is coming for economy

Federal Reserve Chairman Ben Bernanke this week will offer assurance that help is on the way for the troubled U.S. economy and may offer clues on additional steps that could be taken to halt an ever-steepening dive.
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European leaders want reform on overseeing markets

was blamed by some politicians for exacerbating the banking crisis and economic meltdown. In the United States, regulators will soon launch a series of stress tests to determine which of the U.S. banks should get bigger capital cushions in case of a deeper recession, a person familiar with the plans of President Barack Obama's administration said. The largest U.S. banks are well capitali...
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UBS chairman under fire over U.S. tax fraud probe: paper

Pressure mounted on Sunday on the chairman of UBS to step down after the Swiss bank was engulfed in a storm of criticism over its handling of a U.S. probe into tax fraud. The Sonntag newspaper said it had surveyed the 246 members of the upper and lower houses of parliament and 23 said they wanted Peter Kurer to go, while 16 of them also thought Chief Executive Marcel Rohner should step down. I...
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Europe backs hedge fund oversight, haven crackdown

European leaders meeting in Berlin on Sunday backed oversight of the world's financial markets and products, including hedge funds, and urged that sanctions be drawn up to punish tax havens. A copy of the chair's summary from a summit hosted by Chancellor Angela Merkel and seen by Reuters describes the situation in financial markets as fraught and says structural reforms and a focus on ...

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