MARKETS / FINANCE

Obama: Social Security Checks Could Stop, if No Debt Deal

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The rhetoric is getting hot and heavy inside the beltway regarding the debt talks. On Tuesday, the Republicans essentially said the Democrats haven't offered a viable debt deal proposal and President Obama said Republican reluctance to compromise could prevent senior citizens from receiving Social Security payments on August 3.

Wall Street flat in choppy day, brief lift from Fed

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Stocks were little changed on Tuesday, though comments from Federal Reserve officials suggesting the possibility of more stimulative policies sparked gains that briefly put the Nasdaq in mildly positive territory.
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World commercial property Q2 sales up 47 percent: study

Global commercial real estate sales rose 47 percent in the second quarter from a year earlier to $101 billion and are on track to reach or top $440 billion for the year, according to a report by real estate services firm Jones Lang LaSalle Inc .
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Italy's Berlusconi seeks to calm fears over crisis

Prime Minister Silvio Berlusconi sought on Tuesday to calm fears that Italy could be swept into a full-scale financial crisis as the center-left opposition pledged to help parliamentary approval of debt-cutting measures.
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Tea Party: U.S. Default Preferable to Debt Deal

OPINION: As President Barack Obama and Congressional Democrats have to negotiate a debt deal and prevent the totally avoidable -- a U.S. default on its debt -- Tea Party Republicans appear only to be interested in one thing: getting their way, even if it hurts the nation.
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Trade deficit surges to $50.2 billion in May

The U.S. trade gap widened much more than expected in May as a jump in oil prices helped push imports to the second highest level on record and exports fell slightly from April's record high, a U.S. government report showed on Tuesday.
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Italy's Berlusconi tries to calm fears over crisis

Prime Minister Silvio Berlusconi tried on Tuesday to calm fears that Italy could be swept into a full-scale financial crisis and the opposition pledged to smooth the passage through parliament of tough debt-cutting measures.
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Job openings, rate little changed in May

There was little turnover in the U.S. labor market in May, and the number of available jobs at the end of the month was virtually unchanged from April, government data showed on Tuesday.
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China Wen says to keep policies, warns over-tightening

Beijing will continue to put taming inflation at the top of its agenda by keeping a prudent monetary policy stance, but it will try to avoid any big swings in economic growth caused by excessive tightening, Chinese Premier Wen Jiabao said in comments published on Tuesday.
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U.S. trade deficit surges to $50.2 billion in May

The U.S. trade gap widened much more than expected in May as a jump in oil prices helped push imports to the second highest level on record and exports fell slightly from April's record high, a U.S. government report showed on Tuesday.
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Amazon seeks ballot measure to undo California tax

Amazon.com Inc has taken the first step toward asking California voters to repeal a new law requiring websites that forward shoppers to it to collect sales tax, a spokeswoman for the state's attorney general said on Monday.
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Small business morale falls slightly in June

Confidence among U.S. business owners slipped last month amid expectations of weak sales and a deterioration in business conditions over the next six months, a survey showed on Tuesday.
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Europe banks hit as Italy stokes contagion fears

European banks were battered by mounting fears Greece is heading for a disorderly default and the debt crisis could spread to Italy, sending shares skidding more than 3 percent Tuesday to a two-year low.
U.S. Secretary of State Hillary Clinton

Clinton to Syria: Implement Reforms Now

U.S. Secretary of State Hillary Clinton said the U.S. is looking for action, not words from Syria regarding its domestic reform process, and warned that further delays by the Assad regime will only intensify the resistance movement, which seeks a democratic government.
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Stock index futures signal sharp sell-off

Stock index futures pointed to a sharp fall in share prices on Tuesday after equities on Wall Street recorded their biggest fall in about a month in the previous session as concerns grew that the euro zone debt crisis could engulf other countries.
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Sprint subpoenaed by 9 states over AT&T's T-Mobile bid

Sprint Nextel has received subpoenas from nine states in connection with antitrust reviews of AT&T's proposed $39 billion purchase of T-Mobile USA, according to a Sprint letter posted on the Federal Communications Commission website.

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