MARKETS / FINANCE

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Gold Off As Politicians Vow to Keep Greece in Euro Zone

Gold prices slipped below $1,800 an ounce on Thursday as stock markets extended gains, with assurances from Germany and France about keeping Greece in the euro bloc boosting appetite for assets seen as higher risk at the precious metal's expense.
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Freeport McMoRan's Grasberg Operations Come to Halt

Production and shipments ground to a halt at Freeport McMoRan's Grasberg copper mine in Indonesia after thousands of workers began a month-long strike on Thursday, stoking fears of a global shortage following similar action at a major Peruvian mine.
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Stock index futures signal higher open

Stock index futures pointed to a higher open for equities on Wall Street on Thursday, with futures for the S&P 500, for the Dow Jones and for the Nasdaq 100 up 0.3 to 0.5 percent.
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Global stocks extend gains

Stock markets rose for a third day on Thursday and the euro steadied, helped by signs that euro zone leaders are committed to keeping Greece afloat for now.
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World economy in danger zone: Zoellick

World Bank President Robert Zoellick said on Wednesday the world had entered a new economic danger zone and Europe, Japan and the United States all needed to make hard decisions to avoid dragging down the global economy.
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UBS rogue trader loses $2 billion

Switzerland's UBS said on Thursday it had discovered unauthorized trading by a trader in its investment bank had caused a loss of some $2 billion.
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Global stocks rebound, euro wobbles as focus stays on debt

European stock index futures rose on Thursday, following a bounce in Asia, on signs that European policymakers are taking tentative steps to tackle a crippling debt crisis, but the euro slipped amid skepticism that a Greek default can be avoided.
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World Bank head says world economy in danger zone

World Bank President Robert Zoellick said on Wednesday the world had entered a new economic danger zone and Europe, Japan and the United States all needed to make hard decisions to avoid dragging down the global economy.
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Asian stocks rebound on Europe debt hopes

Asian stocks bounced on Thursday after tentative steps by euro zone policymakers to tackle a crippling debt crisis, but investors remained wary that obstacles the bloc's leaders face could weigh on the euro and Asian currencies in the medium term.
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Goldman asset management CIO Domotorffy retires

Katinka Domotorffy, the head of Goldman Sachs Group Inc's quantitative investment strategies group, will leave the bank at the end of the year, according to an internal memo, as one of its biggest hedge funds continues to suffer from weak performance.
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World Bank chief says world economy in danger zone

World Bank President Robert Zoellick said on Wednesday the world had entered a new economic danger zone and Europe, Japan and the United States all needed to make hard decisions to avoid dragging down the global economy.
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UPS offers consumers more options as etail grows

United Parcel Service is launching a new service in time for the peak holiday shipping season that gives residential consumers -- a growing portion of its business -- more control over when and how their packages are delivered.
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Third Point appeals to Yahoo founder Yang for change

Yahoo Inc shareholder Daniel Loeb appealed to the company's co-founder Jerry Yang to fire Chairman Roy Bostock and several other directors to revive the Internet media company after years of poor performance.
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Facebook to delay IPO until late 2012

Facebook will delay its initial public offering until the end of next year so employees can focus on developing products for the No. 1 social networking website, the Financial Times reported on Wednesday.
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Wall Street to open higher on euro optimism

Stocks were set for a higher open on Wednesday after the head of the European Commission said it will present options for joint euro zone bonds, a tool that investors view as a step forward to addressing the region's debt crisis.
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Geithner urges EU to do more to solve crisis

Treasury Secretary Timothy Geithner on Wednesday urged European leaders to act more forcefully to solve Europe's escalating debt crisis and said they have the financial and economic capacity to do so.
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3 years on, Lehman on path to exit bankruptcy

Three years after its collapse, Lehman Brothers is still stuck in bankruptcy court -- but three years is not as long as it sounds, says the failed investment bank's lead bankruptcy lawyer.
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Gold Down After Day of Pro Eurozone Developments

Gold prices settled moderately lower Wednesday after a string of European developments during the trading session boosted investor hope that the continent's sovereign debt crisis is finally getting the attention it requires.

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