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Viacom's MTV and RealNetworks join forces: report

Viacom Inc's MTV Networks is expected to on Tuesday announce plans to merge its online digital music offerings into a joint venture with music software company RealNetworks Inc, the Wall Street Journal reported.

Countrywide says it cut 500 mortgage jobs

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Countrywide Financial Corp, the largest U.S. mortgage lender, said it had eliminated about 500 jobs nationwide as it tries to cope with a credit shortfall stemming from the U.S. housing downturn.
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Big three pledge vigilance but banks gloomy

Finance chiefs from the world's three biggest economies sought on Tuesday to keep a lid on global market jitters as banks at the sharp end of a global financial storm said they faced serious trouble. Japanese Finance Minister Koji Omi and U.S. Treasury Secretary Henry Paulson agreed to keep a close eye on markets while German Finance Minister Peer Steinbrueck said there was no sign of the turmoil hitting the wider economy.
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Stocks drop as credit concerns linger

Stocks fell on Monday, led by losses in financial companies, as worries about spillover from the subprime mortgage market lingered despite the Federal Reserve's surprise discount rate cut on Friday.
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Luminent, Thornburg take liquidity steps

Struggling mortgage investor Luminent Mortgage Capital Inc and home loan lender Thornburg Mortgage Inc took steps to bolster liquidity on Monday, but the companies signaled the trouble is not completely gone.
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Calm slowly returns in wake of Fed

Calm returned slowly to financial markets on Monday, but there were lingering signs that credit problems persist despite policy-makers' insistence that the global economic growth would remain solid.
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Nuclear deal strains India's government

Indian Prime Minister Manmohan Singh's government is struggling to weather a crisis as communist allies threaten to end support over a nuclear energy deal with the United States.
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Countrywide ads tout safety amid report of layoffs

Countrywide Financial Corp on Monday ran advertisements seeking to reassure customers it's safe to do business with the company, while a published report said the largest U.S. mortgage lender has begun layoffs to help cope with a credit crunch.
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Lowe's posts higher profit

Lowe's Cos. reported a higher-than-expected quarterly profit on Monday, and its shares rose more than 6 percent as the home-improvement retailer said sales were improving in some regions despite the soft U.S. housing market. The company, which ranks second behind Home Depot Inc., said difficult sales comparisons were starting to lessen, but still cut its full-year profit and sales forecast.
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Gold rises on weaker dollar

Gold gained on Monday with a drop in the dollar and recovery in stocks, but investors remained cautious as they digested the U.S. federal reserve's surprise move to slash the rate it charges banks on loans.
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Yen falls in cautious trade

The yen fell on Monday, giving up some of last week's steep gains, as some risk appetite returned to the market after the Federal Reserve's surprise decision on Friday to cut its discount lending rate.
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Mortgage lenders, brokers, extend credit rally

Mortgage lenders' and financial companies' debt insurance costs fell on Monday, continuing improvements from Friday when a Federal Reserve discount rate cut sparked a rally in most global markets.
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Microsoft cuts Xbox 360 prices in Europe

Microsoft Corp is cutting the European price for its Xbox 360 video game console by 50 euros to 349.99 euros ($470), following a similar cut in the United States. Faced with unexpectedly strong competition from Nintendo Co Ltd's cheaper Wii console, Microsoft is aiming at expanding the appeal of the Xbox 360 to an audience outside its core fan base of young men.
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Wall St flat as investors mull Fed

Stocks were little changed on Monday as investors mulled the likelihood of more Federal Reserve action after Friday's surprise cut in the rate at which banks borrow from it.
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France's Sarkozy returns to face economic woes

French President Nicolas Sarkozy returned from his summer break on Monday to a sluggish economy, a court decision to scrap a tax break he promised and a scandal over a pedophile who says a prison doctor gave him Viagra.
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Eco-millionaires see boom times ahead

Mankind's response to climate change will shift how the world gets its energy and is already making green barons out of early investors in renewable energy, clean technologies and carbon trading.
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Whole Foods decision could boost other deals

Upcoming deals such as Sirius Satellite Radio's planned takeover of XM Satellite Radio could be helped by a court decision in favor of a takeover deal between two organic food retailers.
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SunTrust Banks to cut 2,400 jobs

SunTrust Banks Inc., the seventh-largest U.S. bank, on Monday said it expects to eliminate about 2,400 jobs by the end of 2008 as part of a plan designed to save $530 million annually by 2009.
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Global stocks kick higher

Investors boosted stocks and moved back into other riskier assets on Monday as immediate fears of a credit crunch waned following the Federal Reserve's confidence-building move last week.
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Fears abate but still linger post-Fed

Policymakers and investors breathed a sigh of relief on Monday as Federal Reserve action brought calm to shaken financial markets, but experts said it was too soon to discount a global credit crisis.
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Asia Inc girds for fallout of credit squeeze

Asian companies will have a tough time raising funds and face weaker export demand if the global credit squeeze persists and a deteriorating U.S. housing market crimps consumer spending.
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Google reveals stake in Chinese social Web Tianya

Google Inc revealed on Monday that it had acquired a stake in Chinese community Web site Tianya.cn, indicating a foray by the global search leader into social networking in the world's second-largest Internet market.
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Futures point to firmer U.S. open after Fed action

U.S. index futures pointed to a firmer start on Wall Street on Monday, building on gains in the previous session after the Federal Reserve cut the discount rate it charges banks, and with little scheduled news on the agenda.

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