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U.S.-Europe 'renaissance' seen under Sarkozy: Lantos

Relations between the United States and Europe are likely to improve dramatically under new French President Nicolas Sarkozy and German Chancellor Angela Merkel, a U.S. congressional leader said on Thursday.

Chinese officials to visit U.S. for safety talks

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China will send delegations to the United States in August and September to discuss food and product safety following a spate of product recalls, a Chinese Embassy official said on Wednesday.

Beijing rebuffs U.S. over WTO pirated goods case

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Beijing objects to an attempt by the United States to use the World Trade Organization to impose new obligations on China to crack down on pirated goods, the Ministry of Commerce said on Thursday.
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U.S. signs $30 billion defense aid pact with Israel

The United States sealed a deal on Thursday to provide Israel with $30 billion in defense grants over the next decade, a 25 percent boost that Washington describes as strengthening a regional bulwark against Iran.
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MUFG says would consider buying U.S., European bank

Mitsubishi UFJ Financial Group Inc., Japan's largest bank, would consider buying a commercial bank in the United States or Europe to expand its international operations, a senior executive said on Thursday.
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Kraft mulls sale of Post cereals business: paper

Kraft Foods Inc. is in the early stages of looking for a buyer for its Post cereals business, maker of the Grape Nuts and Shredded Wheat brands, the Wall Street Journal reported on its Website on Thursday.
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Countrywide shares plunge on Merrill downgrade

Shares of Countrywide Financial Corp. (NYSE: CFC), the largest U.S. mortgage lender, fell 13 percent on Tuesday over investor concerns that it could fall into bankruptcy amid an ongoing liquidity crunch.
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Credit fears increase, S&P gives up 2007 gains

U.S. stocks fell on Wednesday, with the S&P 500 wiping out what was left of its 2007 gains, as credit jitters sparked a broad stock market sell-off. Shares of Countrywide Financial Corp. fell 16.2 percent to $20.51 on the rumors that the largest U.S. mortgage company has been unable to raise money from the commercial paper market. Countrywide officials were not immediately available for comment.
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Countrywide cut by Merrill and bankruptcy raised

Countrywide Financial Corp shares fell as much as 9.2 percent on Wednesday after the largest U.S. mortgage lender was downgraded to sell from buy by a Merrill Lynch & Co. analyst, who said bankruptcy may be possible if liquidity worsens.
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Democratic hopefuls seize on housing woes

Democratic presidential hopefuls have seized on the deepening U.S. mortgage crisis and gyrating financial markets as signs they would be better stewards of the economy, but Republicans argue the outlook is strong.
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Central banks step aside as turmoil continues

Central banks on Wednesday progressively withdrew the cash they recently injected into money markets as the focus of the global credit storm rolled into emerging markets and currencies.
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Exchanges trying to get help for Sentinel: CFTC

U.S. futures exchanges are trying to get other futures companies to step in and ease Sentinel Management Group Inc's concerns about client redemptions, a Commodity Futures Trading Commission official said on Tuesday.
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Inflation edges up slightly in July

U.S. consumer prices edged up in July while a measure of manufacturing activity in New York this month dipped slightly, according to data released on Wednesday that was unlikely to sway an inflation-wary Federal Reserve. While the Fed said last week that inflation was its top concern, it also acknowledged that the housing market downturn had led to tightening credit terms for some households and businesses.
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Deere profit rises 23 percent

Deere & Co. said on Wednesday its net earnings in the latest quarter rose a better-than-expected 23 percent, driven by strong overseas sales of tractors and other equipment.
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Global stocks skid, yen gains as credit fears grip

Japan's Nikkei plumbed a 2007 low and other Asian stock markets fell as much as 6 percent on Wednesday as investors shunned risky trades amid growing credit jitters, pushing the yen to a 4 and a half month high. The nervous sentiment is set to hit Europe, where financial bookmakers are calling for falls of half a percent or more for major indexes.
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CBS settles with fired shock jock Don Imus

U.S. broadcaster CBS settled its termination dispute with fired radio shock jock Don Imus on Tuesday, a possible step toward Imus reviving his multimillion-dollar career with a rival broadcaster.
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Credit worries and Wal-Mart slam Wall St

U.S. stocks skidded on Tuesday on fresh signs that global credit markets were seizing up, while a lower profit forecast from Wal-Mart Stores Inc. renewed worries about consumer spending. Wal-Mart's pessimistic outlook and subsequent news that a U.S. investment firm wants to halt redemptions delivered a one-two punch to already shaky confidence.
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Commercial paper woes could hit banks

Trouble is mounting in the $2.2 trillion commercial paper market, and further deterioration could trigger problems for banks that would rival what they've suffered from the subprime crisis.

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