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Gold falls as dollar rises

Gold fell on Thursday as the dollar rose, dulling the metal's attraction for non-U.S. investors as an alternative investment.

Oil falls back after surge on pipeline explosion

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Oil gave back nearly all of its big gains on Thursday after Enbridge Pipeline said its fire-damaged crude pipeline in Minnesota could resume normal operations within days.An explosion along the Canada-to-United States pipeline, which supplies more than 10 percent of U.S. crude imports, killed two workers and choked off crude flows Wednesday.
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Musharraf says to end emergency rule December 16

Pakistani President Pervez Musharraf said on Thursday he would end a state of emergency next month, bowing to domestic and international pressure to restore normal government ahead of general elections in January.
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AIG eyes consumer finance, M&A in South Korea

American International Group is interested in expanding into consumer finance in South Korea and may buy Korean companies to grow its businesses, the head of its Korean life insurance unit said on Thursday.
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Fire shuts key Canada-U.S. pipeline

An explosion crippled the biggest pipeline supplying Canadian crude to U.S. Midwest refineries, shutting off more than 1 million barrels per day of imports to the world's biggest consumer.
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Freddie Mac shares post biggest gain in 19 years

Shares of Freddie Mac surged on Wednesday as strong demand for a record preferred stock issue signaled the second-biggest provider of U.S. home funding could access capital even in turbulent markets.
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Metal Gear Solid 4 last of the great exclusives?

Metal Gear Solid 4 is not only one of the most eagerly awaited games for Sony's PlayStation 3, it is also among the last of a dying breed -- games designed exclusively for one gaming console.
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Gold firm above $800 on soaring oil

Gold held firm above $800 an ounce on Thursday as oil prices soared, but prices were locked into narrow ranges as a firmer dollar dulled the metal's attraction for non-U.S. investors.
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Oil jumps on Canada-U.S. pipeline explosion

Oil surged more than $4 a barrel on Thursday after an explosion at a major pipeline temporarily halted nearly a fifth of crude oil imports to top consumer the United States.
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Orders for U.S. goods fall more than forecast

Demand for U.S. goods had a set-back as orders for its durable goods fell more than forecast in October with companies losing confidence in the possibility of economic expansion. Federal Reserve Vice Chairman Donald Kohn today warned that turbulence may discourage businesses and consumers from spending. Economists also added less investment adds to risks that growth will falter and force the central bank to cut interest rates again. James O'Sullivan, a senior economist at UBS Securities LLC in Stamford, Connecticut, projected orders would drop 0.5 percent. We do expect growth to be weak for the next couple of quarters, he said. The department of Commerce revealed on Wednesday that the demand for cars, planes and other items was down by 0.4 percent for years, with September this year posting further 1.4 percent decline noting that demand fell by 0.7 percent. Economists forecast a 0.1 percent drop in orders after against 1.7 percent decline that was posted in September.
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Gold slips alongside oil

Gold futures dropped nearly 2 percent on Wednesday following gains in the dollar and lower oil prices causing traders to lose appeal for the metal.
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Gold slips under $800 on firmer dollar

Gold slid under the $800 mark in increasingly volatile conditions on Wednesday, as softer oil prices and a firmer dollar against the euro dented the metal's wider appeal for investors.
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Oil tumbles 4 percent

Oil prices tumbled 4 percent on Wednesday, after a U.S. government report showed crude stockpiles fell less than expected last week, easing supply concerns in the world's top consumer.
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Toyota to recall 215,020 Lexus, other cars in Japan

Toyota Motor Corp (7203.T) said on Wednesday it would recall 215,020 units of the Lexus GS, Crown and three other high-end car models in Japan to fix a faulty fuel pipe that could lead to a fuel leakage.
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Bear Stearns to cut 650 jobs globally

Bear Stearns Cos Inc (BSC.N) is cutting 650 jobs or 4 percent of its global workforce as the investment bank seeks to lower costs after losing bets on risky subprime mortgages. Of those cuts, around 20 will be in London, both in the front and back office, a source familiar with the situation said on Wednesday. The bank employs about 1,500 in London.
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Samsung Elec sees PC chip recovery, strong phone sales

South Korea's Samsung Electronics said on Wednesday oversupply of memory chips used in personal computers was expected to ease in 2008 as growing demand for portable gadgets prompts a shift in production to flash chips.
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Big powers warn Serbs, Albanians on Kosovo peace

The European Union, United States and Russia urged Serbs and Albanians on Wednesday to avert any slide to violence following the failure of their talks on the future of the breakaway province of Kosovo. Kosovo's 90-percent Albanian majority is preparing to declare independence within months, and is counting on recognition from Washington and the major EU capitals -- a move Serbia says will unleash chaos in the fragile Balkans.

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