MARKETS / FINANCE

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Moody's cuts Japan rating, blames politics

Moody's Investors Service cut its rating on Japan's government debt by one notch to Aa3 on Wednesday, blaming a build-up of debt since the 2009 global recession and revolving-door political leadership that has hampered effective economic strategies.
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Study Doubts FDA'S Anti-Smoking Label Campaign

Usefulness of Grim Anti-Smoking Warnings Doubted

Mandatory anti-smoking warnings on U.S. cigarette packs are being challenged, this time by researchers who say the combination of grotesque images and explicit messages may not be effective in curbing smoking.
Australian Stock Market

U.S. Stocks: Is Dow 11,000 a Top or a Bottom?

You can’t blame investors for feeling slightly queasy about the U.S. stock market these days. One day of relatively positive data points is followed by a day with enough bad news to keep a stock investor up at night. But based on a condensed, cross-methodological analysis, in which direction is the Dow likely to head in the next six months?
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UBS axes 3,500 jobs in cost-cutting push

Switzerland's biggest bank UBS AG is to axe 3,500 jobs to shave 2 billion Swiss francs ($2.5 billion) off annual costs as it joins rival investment banks in reversing the post-crisis hiring binge and preparing for a tough few years.
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Gold Futures Price Falls on Profit-Taking

Gold prices were falling steadily late Tuesday in electronic trading as investors took profit from recent gains and bought stocks in expectations that the Federal Reserve will intervene in the bond market to give the anemic U.S. economy a lift.
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Facebook to revamp privacy controls

Facebook is making it easier for users to control who sees their information, and to have more say over the photographs they appear in, as the world's No. 1 social networking service seeks to assuage privacy concerns.
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Gold Gives up Some Ground on Profit Taking, Fed Prospects

Gold closed down 1.6 percent as investors ignored mixed economic news to take profits from recent gains and to put their confidence in the head of the U.S. central bank whom they hope will use a speech later this week to signal support for the ailing American economy.
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Factory and housing data point to weak growth

Factory output in the U.S. central Atlantic region dropped to a two-year low in August and new home sales hit a five-month low in July, the latest signs to suggest the economy is at risk of stalling.
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Shares add to gains on hopes of Fed action

Stocks surged on Tuesday, with the S&P 500 and the Nasdaq up more than 2 percent, as buyers emerged before a highly anticipated address by Federal Reserve Chairman Ben Bernanke later this week.
For Discussion: U.S. Housing Sector

New Home Sales Decline for Third Straight Month, Likely to Weigh on U.S. Economy

New home sells fell in July to a 298,000-unit annual rate, the third straight monthly decline for the beleaguered sector. The slump means housing is likely to be a drag on U.S. GDP at least for the next two quarters, and perhaps for longer. New home prices are attractive, but potential buyers should traead carefully: they may drop in many markets.
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Germany's top court to rule on euro bailouts September 7

Germany's top court will give its verdict early next month on whether the government broke the law with last year's bailouts of debt-stricken euro zone countries -- a ruling which could limit Berlin's room to manage the region's debt crisis.
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Regional factory index sputters, home sales fall

Factory output in the U.S. central Atlantic region contracted again this month and new home sales fell to a five-month low in July, adding to signs of a weak second-half economic expansion at best.
U.S. Budget Debate

U.S. Budget: Will Tea Party Threaten Another Government Shutdown in October?

You thought the U.S. debt deal ended the feud between Democrats and Republicans? Hardly. The U.S. Government's new fiscal year, fiscal 2012, starts Oct. 1 -- and a budget must be passed by Sept. 30. A key unknown is: will the Tea Party threaten to shut down the government again, if it doesn't get most of what it wants?
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Minister drags Berlin into euro crisis collateral row

A minister in Angela Merkel's conservative party propelled Germany into a debate about guarantees on bailout payments to Greece, backing a demand from Finland for collateral, but Berlin distanced itself from her comments.

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