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Bear Stearns net tumbles 61 percent

Bear Stearns Cos Inc said on Thursday quarterly profit plunged 61 percent to its lowest level in five years on bad bets on subprime mortgages and disrupted fixed-income trading.

Goldman profit surges despite summer turmoil

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Goldman Sachs Group Inc said on Thursday that quarterly profit surged 79 percent, blowing away expectations of weak results, as the investment bank generated its second-highest revenue ever despite turbulent summer markets.
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Gold rises on firm oil, holds near 16-month high

Gold firmed on Thursday and held within sight of its 16-month high of $726 an ounce, but the metal was seen trading in a tight range before challenging its highest level in nearly three decades.
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Ailing dollar sinks beyond $1.40 per euro

The dollar sank to fresh record lows beyond $1.40 per euro on Thursday, weighed down by a hefty U.S. interest rate cut earlier this week and expectations of more moves to come.
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Oil hovers above $82, supply worries linger

Oil hovered above $82 a barrel on Thursday as sinking U.S. crude inventories and the threat of a storm gathering near Florida increased worries of a winter supply crunch in the world's top consumer.
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Senate Republicans block Iraq bill

Senate Republicans blocked a plan on Wednesday to give U.S. troops in Iraq more home leave, defeating a proposal widely seen as the Democrats' best near-term chance to change President George W. Bush's Iraq strategy.
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New Zealand Dollar Rises

New Zealand's dollar rose to its highest level versus the dollar and yen in nearly a month following a drop in U.S. interest rates prompted a comeback for investments such as the carry trade.
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Stocks Rally for a Second Day

U.S stocks rallied for a second day on Wednesday following the half a point drop in interest rates issued by the Federal Reserve yesterday.
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GE Energy won't sell UK plant this year

GE Energy, the energy arm of U.S. conglomerate General Electric Co, will not sell its Baglan Bay gas-fired power plant in Britain this year, the company said on Wednesday.
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Canada August inflation eases, rates seen on hold

Overall inflation in Canada slowed to an eight-month low in August and the core rate targeted by the Bank of Canada also eased, likely comforting the central bank after recent debt market turmoil led it cancel plans to raise interest rates.
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Apple defends iTunes in Berlin, Brussels

Apple President Steve Jobs reiterated his commitment to charging the same price for iTunes downloads across Europe as his lawyers defended the company on Wednesday against allegations its prices are not uniform.
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Mortgage applications rise in latest week

Applications for home mortgages climbed for a third straight week as more borrowers sought to refinance loans on which payments may be about to rise, an industry group said on Wednesday.
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Gold futures extend rise early after 28-yr high

U.S. gold futures rose early on Wednesday on strong follow-through buying and inflationary worries, extending gains from Tuesday when gold contracts surged to a 28-year high after the Federal Reserve half-percentage point rate cut.
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Dollar off low as investors debate Fed cut

The dollar rose from a 15-year low against a basket of currencies on Wednesday as investors bet the Federal Reserve's interest rate cut on Tuesday will help boost a slowing U.S. economy.
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Fed whets global appetite for stocks, not for bonds

Stocks rallied for a second day on Wednesday after an aggressive U.S. rate cut soothed concern the U.S. economy would slip into recession, stirring demand for riskier investments and killing demand for safe-haven bonds.
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Watch your pennies -- freeze your tights

Worried about rising mortgage rates?. Fearful of stock market turmoil? You could try refrigerating your candles -- they will burn more slowly. Or why not read your newspapers online and heal shaving nicks with honey -- it is an antiseptic.
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BoE says it will try to bring 3mth rates down

The Bank of England made a surprise U-turn on Wednesday, offering to inject 10 billion pounds ($20 billion) next week into money markets in a bid to bring three-month interest rates down.

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