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Retail sales notch modest gains in June

Retailers reported modest June sales results on Thursday as industry leader Wal-Mart Stores Inc. and teen favorite Abercrombie & Fitch Co. topped Wall Street's conservative expectations while a number of department stores and women's specialty retailers foundered.

Wal-Mart June sales up more than expected

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Wal-Mart Stores Inc. on Thursday reported a higher-than-expected 2.4 percent June rise in sales at its U.S. stores open at least a year, and the world's largest retailer said its second-quarter earnings forecast is attainable.

Home foreclosures drop in June

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U.S. home foreclosures fell in June after jumping to a 30-month peak in May, but default rates will escalate as a horde of mortgages resets at higher loan rates, real estate data firm RealtyTrac said on Thursday.
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Home sales, prices to keep slipping: NAR

The leading realty trade group on Wednesday cut its 2007 forecast for U.S. home sales and prices, saying both would slide this year with sales hitting a five-year low. The National Association of Realtors trimmed its sales forecast for the fifth straight month and also widened its predicted drop in existing home values.
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Daimler down on talk of Chrysler financing problems

DaimlerChrysler shares fell more than 2 percent on Wednesday on market talk of possible financing difficulties for the sale of U.S. carmaking arm Chrysler to Cerberus, traders said, but Daimler said it was not aware of any difficulties.
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Subprime woes rattle stocks, credit and dollar

World stocks fell and the dollar hit a record low against the euro on Wednesday after signs of fresh woes in the U.S. high-risk mortgage sector rekindled concerns about the potential impact on the wider economy.
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Dollar sinks in U.S. subprime, credit quicksand

The dollar weakened broadly on Wednesday, striking a record low versus the euro and a 26-year trough against sterling as growing fears surrounding the U.S. subprime mortgage and credit sectors gripped financial markets.
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Futures indicate firm market open

U.S. stock index futures pointed to a higher start on Wall Street on Wednesday, recovering from the previous session's fall, when housing weakness hit shares. U.S. stocks slid on Tuesday as the subprime mortgage crisis escalated, undermining banking shares, while Home Depot and other housing-related companies cut their outlooks.
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Microsoft holds firm on Xbox 360 pricing

Microsoft Corp. said on Tuesday it will hold firm on pricing for its Xbox 360 game console, defying widespread expectations that it would respond to a price cut by rival Sony Corp. for the PlayStation 3.
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Citigroup to boost Japan branches by 40 pct.

Citigroup plans to boost the number of its branch locations in Japan by 40 percent to about 200, including those of recently acquired brokerage Nikko Cordial Corp., as the financial firm looks to move beyond a niche role in the world's second-largest economy.
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NEC under pressure to give up control of chip unit

A U.S. investment fund is putting pressure on NEC Corp. to give up control of its ailing chip making unit by offering $1.25 billion for a 25 percent stake, the latest foreign shareholder to apply heat on what they see as
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Budget deficit forecast to fall, but cautiously

The Bush administration is expected to slash its 2007 budget deficit estimate when it updates its forecast on Wednesday, but uncertainty over slowing corporate receipts may lead the White House to express a more cautious view than some in the financial markets.
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Stocks drop on housing weakness worries

Stocks slid on Tuesday as the subprime mortgage crisis escalated, undermining banking shares, while Home Depot Inc. and other housing-related companies lowered their outlooks.
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Ford to boost Russia output, launch Mondeo

Ford Motor Co. said on Tuesday it would boost output in Russia to 125,000 cars per year by 2009 from 72,000 as it seeks to satisfy booming demand in Europe's fastest growing major car market.
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Dutch court to rule on ABN's LaSalle

The Dutch Supreme Court will issue its ruling on ABN AMRO's suspended sale of its U.S. unit LaSalle on Friday and the decision could sway an acrimonious takeover battle for the Dutch bank.
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Home Depot cuts outlook, cites housing

Home improvement retailer Home Depot cut its 2007 earnings outlook on Tuesday, citing weakness in the U.S. housing market and said it was launching a tender offer for 250 million shares.

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