MARKETS / FINANCE

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New jobless claims rise, July trade gap narrows

The number of Americans filing new claims for jobless benefits rose unexpectedly last week, further evidence of a weak labor market just hours before President Barack Obama unveils a plan on job creation in a major address to Congress.

Republican Presidential Debate: Jon Huntsman Gets Aggressive

2012 Election
Former Utah Gov. Jon Huntsman delivered a forceful performance during Wednesday's Republican presidential debate, drawing on his experience as a governor and an ambassador to China to distinguish himself from heavyweights Mitt Romney and Rick Perry.
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New jobless claims rise to 414,000 last week

New U.S. jobless claims rose unexpectedly last week, further evidence of a weak labor market just hours before President Barack Obama delivers a major address to Congress on the issue.
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ECB holds rates as recession fears mount

The European Central Bank held interest rates at 1.5 percent on Thursday and is likely to indicate that a policy tightening cycle it began in April is on hold in the face of growing evidence the euro zone's economic recovery is losing momentum.
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ECB to signal change in policy tack

The European Central Bank is expected to signal a change in policy direction on Thursday, halting an interest-rate rise cycle just five months after it started as the euro zone debt crisis weighs on the economy.
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OECD says growth outlook has got much worse

The outlook for economic growth in developed countries has got much worse in the last three months, the OECD said on Thursday and urged central banks to keep rates low and be ready to pursue other forms of easing.
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Wall Street seen opening higher

Stock index futures pointed to a firmer open on Wall Street on Thursday, with futures for the S&P 500, Dow Jones and Nasdaq 100 flat to 0.2 percent higher at 0916 GMT.
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Some fearful China billionaires steer clear of rich

Growing numbers of China's rich want to avoid publicizing their wealth, Forbes said, reflecting fears of official scrutiny amid a vast and growing rich-poor divide after several billionaires have ended up in jail.
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Swiss face up to a franc mountain

In early August, Philipp Hildebrand pulled out of an expedition to mark the bicentennial of the first ascent of the Jungfrau, one of the highest mountains in the Alps.
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Euro slips, stock rebound fades ahead of ECB

The euro slipped on Thursday ahead of a European Central Bank meeting that is expected to call a halt to its rate tightening cycle to support economies battered by a two-year-old sovereign debt crisis, while a stock rally ran out of steam.
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Euro slips, but stocks seen up ahead of ECB

The euro slipped and European stock index futures inched up on Thursday ahead of a European Central Bank meeting that is expected to call a halt to its rate tightening cycle to support economies battered by a two-year-old sovereign debt crisis.
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U.S. widens scope of Libor probe: report

U.S. investigators probing the alleged manipulation of interbank lending rates are now focusing on possible violations of a commodities law that has previously been used to send financial executives to prison, the Financial Times said, citing people familiar with the probe.
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Libor probe looks at criminal angle: report

The U.S. investigation into alleged manipulation of interbank lending rates is focusing on possible violations of a commodities law that has previously been used to send financial executives to prison, the Financial Times reported on Thursday.
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U.S. Libor probe looks at criminal angle: report

The U.S. investigation into alleged manipulation of interbank lending rates is focusing on possible violations of a commodities law that has previously been used to send financial executives to prison, the Financial Times reported on Thursday.
Prozac

Why Are Westerners So Depressed?

Two studies released over the last week report that up to half of Americans and 40 percent of Europeans will suffer from a mental health disorder during their lifetime.
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Japan machinery orders slump, signal weak investment

Japan's core machinery orders tumbled in July at twice the pace economists' had expected in a sign that companies are delaying investment due to worries about a strong yen, slackening global growth and slow progress in reconstruction from the March earthquake.
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Exclusive: Facebook doubles first-half revenue

Facebook's revenue doubled to $1.6 billion in 2011's first half, a source with knowledge of its financials told Reuters, underscoring its appeal to advertisers while it grapples with intensifying competition from the likes of Google Inc.
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Wall Street jumps as Europe debt concerns ease

Wall Street bounced more than 2 percent on Wednesday, reversing three days of losses after Germany's top court smoothed the way for Berlin's participation in bailouts that could ease Europe's debt crisis.
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Best Buy unveils new third-party Marketplace

Best Buy Co said on Wednesday it will offer products online from other sellers through a new third-party Marketplace as the electronics retailer tries to better compete with Internet rivals Amazon.com and eBay Inc.
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U.S. recovery still on ropes in late summer: Fed

The sluggish U.S. recovery failed to gain speed in recent weeks and softened in some areas of the country, as volatile stock markets and sputtering factory activity weighed on growth, the Federal Reserve said on Wednesday.

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