MARKETS / FINANCE

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Greek debt swap hangs in balance

A debt swap meant to help Greece avoid default and win time to repair its tattered public finances hung in the balance on Friday with expectations of take-up by private creditors slipping amid fierce European pressure on Athens.

Obama faces tough slog to sell pivotal jobs plan

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President Barack Obama, seeking to rescue the troubled U.S. economy and his own prospects for re-election, embarks on an uphill battle on Friday to win Republican support for a make-or-break $447 billion jobs plan.

Futures point to lower open in wake of Obama speech

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Stock index futures pointed to a lower open on Friday as investors remained skeptical about how much of President Barack Obama's $447 billion proposal to generate U.S. jobs would make it through Congress.
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Gold Demand to Rise Later This Year - World Gold Council

Gold demand which dropped in the second quarter of this year is expected to strengthen by the end of 2011, driven by robust jewelry consumption in India and China and recovery in investment demand, senior World Gold Council (WGC) officials said on Friday.
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Global bondholders to decide on Greek swap offer

Investors in Greek government debt worldwide will tell regulators on Friday whether and how they will participate in a bond swap aimed at giving Athens more time to emerge from a debt crisis, with officials expecting a take-up of about 70 percent.
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Analysis: Global slowdown silences Asia's inflation hawks

The global economic slowdown has brought emerging Asia's rate-hiking cycle to a premature pause and the next step could be easing if the United States slides into a recession or Europe's debt troubles spawn a full-blown financial crisis.
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IMF says policymakers should use all measures

Policymakers in advanced economies should use all available tools to boost growth, International Monetary Fund Managing Director Christine Lagarde said on Friday, calling for bold action to weather a dangerous new phase of recovery.
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BofA discussing about 40,000 job cuts: report

Bank of America Corp officials have discussed slashing roughly 40,000 jobs during the first wave of a restructuring, the Wall Street Journal said, citing people familiar with the plans.
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Google buys Zagat to vie with OpenTable, Yelp

Google Inc has bought popular dining ratings authority Zagat, adding a valuable brand to its content offerings and bolstering its push into the rapidly growing local commerce market.
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China inflation cools, tightening seen on hold

China's inflation pulled back in August from a three-year high, underlining expectations that price pressures have peaked and the central bank can hold off on further tightening of monetary policy in the face of a global economic slowdown.
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Obama confronts jobs crisis with $447 billion plan

President Barack Obama challenged Congress on Thursday to enact a $447 billion package of tax cuts and new spending to revive a stalled job market but he faces an uphill fight to win over Republicans and restore public faith in his economic stewardship.
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Verisign CFO resigns, shares fall

Internet domain name provider VeriSign Inc said its chief financial officer Brian Robins, who played a key role in the company's long drawn out restructuring process, has resigned.
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Ex-directors challenge Lehman insurance release

Former directors of a Lehman Brothers Holdings Inc affiliate are objecting to the proposed release of $90 million in insurance funds to settle an investor lawsuit against ex-Chief Executive Richard Fuld and other officials.
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Major Yahoo shareholder calls for new board

Shareholder activist Daniel Loeb has scooped up shares of Yahoo Inc and is demanding that the company overhaul its board, saying the directors have made serious misjudgments and destroyed value for stockholders.
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Obama says U.S. faces crisis, pushes jobs plan

President Barack Obama pressed Congress on Thursday to act urgently to approve a jobs package of tax cuts and government spending he is proposing to pull the United States out of a national crisis.

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