MARKETS / FINANCE

Stocks, euro rise as China, Greece risks fade

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Asian equities climbed a fifth consecutive session on Monday, led by Chinese stocks, and the euro inched higher as some near-term risks receded about Greece's funding for the rest of the year and a slowdown in China appeared relatively moderate.

More questions raised about Strauss-Kahn accuser

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Scrutiny of the accuser in the sexual assault case against former IMF chief Dominique Strauss-Kahn intensified on Saturday after more revelations about her conduct following the purported May 14 attack.
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Stocks, euro gain on Greece aid, U.S. data

Asian stocks climbed and the euro inched higher on Monday after policymakers approved an emergency tranche of funding for Greece, offering a lifeline to the debt-stricken nation while strong U.S. data also boosted demand for risky assets.
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Greek sovereignty to be massively limited: Juncker

Greece faces severe restrictions on its sovereignty and must privatize state assets on a scale similar to the sell off of East German firms in the 1990s after communism fell, Eurogroup chairman Jean-Claude Juncker said.
A screen shot of the Google Plus social network is shown in this publicity photo released to Reuters

Google+ will gobble up both Facebook and Twitter

Facebook founder Mark Zuckerberg’s account in Google’s new Social Networking site, Google+ is not a secret any more. Mark Zuckerberg was along with the crowd to take a pie from Google’s success, whose “insane demand” of Google’s social networking site urged Google to hold the Google+ invites in suspension.
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Euro zone approves further $17.4 billion for Greece

Euro zone finance ministers agreed on Saturday to disburse a further 12 billion euros ($17.4 billion) to Greece and said the details of a second aid package for Athens would be finalised by mid-September.
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Diniz says informed Casino of Carrefour deal: report

SAO PAULO Grupo Pao de Acucar Chairman Abilio Diniz said he did not violate his partnership with France's Casino by negotiating a merger with their rival Carrefour in Brazil without informing his partner, the weekly magazine Veja said on Saturday.
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Euro zone to approve Greek aid tranche

Euro zone finance ministers will approve the next tranche of emergency aid for Greece on Saturday and discuss a second three-year financing plan for Athens on July 11, euro zone officials said.
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China IPOs slow in H1

China's IPO market slowed by a fifth in the first half of 2011 amid a lack of mega deals that hit the market the year before, with fundraisings dominated by small businesses, a trend that analysts said could last for a few more months.
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Strauss-Kahn released from house arrest

Former IMF chief Dominique Strauss-Kahn was released from house arrest on Friday after prosecutors said the hotel maid who accused him of attempted rape lied to a grand jury and made other false statements.
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Prosecutors detail lies told by DSK accuser

She lied about being gang-raped in her home country. She cheated on her taxes. And she changed details of her story about being sexually assaulted by a man once seen as the next president of France.
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Rally could spell pullback for stocks

A pullback could be on the table next week for stocks after their best weekly performance in two years, especially if a raft of data headlined by the June jobs report doesn't bolster the argument of a strengthening economy.
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NY Attorney General subpoenas BofA CEO, others: report

New York state Attorney General Eric Schneiderman has issued subpoenas seeking new depositions from Bank of America's chief executive and other current and former executives, the Wall Street Journal reported, citing people familiar with the situation.
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Zynga files for IPO, surfs Facebook wave

Zynga Inc, developer of popular Facebook games such as FarmVille and Mafia Wars, could be the best proxy for investing in Facebook until the world's largest social network goes public itself.
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Facebook set for $1 billion in social-gaming revenue

Facebook Inc is on course to generate $1 billion in revenue this year from social gaming, according to Kevin Ryan, a leading Internet entrepreneur and former chief executive of online advertising giant DoubleClick.
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Google's Chrome tops 20 percent market share

Google Inc's Chrome Web browser has grabbed more than 20 percent of global market share, while Microsoft Corp's long-time leader Internet Explorer has slipped below 50 percent, according to Internet statistics firm StatCounter.
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Key facts on Dominique Strauss-Kahn

Former IMF chief Dominique Strauss-Kahn was released from house arrest without bail on Friday as prosecutors investigated questions about the credibility of the woman he is charged with trying to rape.
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Google's browser tops 20 percent market share

Google Inc's Chrome Web browser has grabbed more than 20 percent of global market share, while Microsoft Corp's long-time leader Internet Explorer has slipped below 50 percent, according to Internet statistics firm StatCounter.
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June auto sales weak for 2nd month in row

The auto industry sputtered to its second consecutive month of weaker-than-expected U.S. sales in June, marked by disappointing results from General Motors Co, Ford Motor Co and the big Japanese automakers, as the weak economy and tight supply of cars left buyers wary.
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Venture-backed IPOs gain strength in Q2

Venture-backed IPOs saw their strongest quarter since 2000 with offerings valued at $5.5 billion coming to the market in the second quarter of 2011, according to an exit poll by Thomson Reuters and the National Venture Capital Association .
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Berkshire's Munger stands behind BYD investment

Berkshire Hathaway Vice Chairman Charlie Munger on Friday stuck by Chinese auto maker BYD <1211.HK>, which has become one of Berkshire's most controversial investments amid poor performance and revelations about its business practices.
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Zynga files for IPO of up to $1 billion

Zynga Inc filed paperwork on Friday for an initial public offering, the latest in a series of hot social media companies to seek capital in the U.S. public markets.
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Banks back creaking Greek debt plan

International banks and insurers attempted to paper over major cracks in a proposed Greek debt rollover on Friday, saying there was broad support to reinvest in the country.
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Surging China costs turn some U.S. makers homeward

On a recent morning at Master Lock's 90-year-old factory in Milwaukee, a cluster of machinery was whirring, every 2 seconds spitting out one of the combination locks used by American high schoolers as the company readied for the back-to-school rush.

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