UNITED STATES

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U.S. to push food, product safety at APEC summit

The United States will press China to do more to ensure the safety of its exports at a regional summit meeting next month in Sydney, U.S. Commerce Secretary Carlos Gutierrez said on Wednesday.

South Korea to resume U.S. beef imports

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South Korea said on Friday it would end its effective ban on U.S. beef imports, once worth about $850 million annually, which should ease tensions in a trade dispute.
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Investors cautious ahead of housing data

U.S. stocks were poised to open little changed on Friday as investors nervously awaited fresh data, including new home sales for July, for clues on the health of the economy. On Thursday, the head of the biggest U.S. mortgage company, Countrywide, said the persistent U.S. housing market downturn could lead to a recession.
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Asia shares down on U.S. slowdown fears

Asian stocks fell on Friday on concern that problems in the U.S. housing and credit markets could push the world's biggest economy into recession, while the yen steadied against the dollar and euro.
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Indian communists adamant about U.S. nuclear deal

India's biggest communist party said on Thursday it did not want to pull the government down over a nuclear deal with the United States, but added that this depended on the pact not being pursued.
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Subprime crisis will boost mortgage insurers

Private mortgage insurance firms that saw their business shrivel during the subprime lending bonanza of 2005-2006 are set to win back market share if they can weather the current mortgage crisis.
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Countrywide CEO sees recession ahead

Countrywide Financial Corp Chief Executive Angelo Mozilo warned on Thursday that the housing downturn is likely to lead the country into recession, but called speculation that the largest U.S. mortgage lender might go bankrupt irresponsible and baseless.
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Stocks slip as Countrywide sees tough market

Stocks declined on Thursday after the chief executive of Countrywide Financial Corp said the housing market was certainly not getting better and could push the economy into a recession. The comments offset optimism about a $2 billion injection into Countrywide, the biggest U.S. mortgage lender.
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Countrywide seen leading financials higher

Countrywide Financial Corp was expected to lead financial shares higher on Thursday after receiving a $2 billion injection from Bank of America Corp, easing fears the largest U.S. mortgage lender could go bankrupt and boosting optimism the sector will weather a credit shortage.
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Bank of America invests $2 bln in Countrywide

Countrywide Financial Corp on Wednesday received a $2 billion injection from Bank of America Corp, helping the largest U.S. mortgage lender shore up its finances as it struggles with a liquidity crunch.
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BOJ says turmoil will linger

Global financial turmoil prompted the Bank of Japan to hold rates on Thursday and warn the tremors would take time to settle, as stock markets climbed in spite of fresh strife stemming from the ravaged U.S. home loan market.
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South Korea tax officials raid Lone Star offices

South Korea's tax officials raided the offices of U.S. private equity fund Lone Star, seizing 11 boxes of documents and copying data related to its recent domestic deals, Lone Star said on Thursday.
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August data looms large in rate cut debate

Investors banking on a swift cut in the U.S. benchmark interest rate to ease market turmoil may be disappointed: Policy-makers may be reluctant to act before a week jammed with economic data in early September.
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European stocks extend recovery

European shares rose in early trade on Thursday, tracking sharp gains made by U.S. and Asian stocks overnight as equity markets continued to recover from a recent correction sparked by fears over a credit crunch.
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Oil hovers below $70

U.S. oil hovered below $70 on Thursday after closing at its lowest in almost two months the previous session following an unexpected rise in crude oil stocks in top consumer the United States.
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China says export boom shows goods still welcome

Foreign sales of some Chinese products have been shaken by reports of dangerous goods, but the country's fast-rising exports show most consumers remain untroubled, senior Chinese officials said on Thursday.
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Easing fears over credit boost riskier assets

Investors bought riskier assets on Thursday, lifting world stocks, emerging market debt and higher-yielding currencies as hopes increased that the worst of the recent credit market storm has blown over. Stock markets from Shanghai to London posted solid gains, with the Chinese bourse hitting another all-time high.
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Indexes gain on takeover talk

U.S. stocks rose on Wednesday as takeover activity resurfaced and credit markets stabilized, luring investors back into riskier assets such as equities.

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