MARKETS / FINANCE

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Greeks protest, almost half oppose austerity

Thousands of Greeks marched on parliament on Saturday in a show of unabated public anger after Prime Minister George Papandreou vowed to push on with an austerity campaign that a poll showed half the country opposed.

Line drawn in stocks' battle

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The S&P 500's 200-day moving average is the line in the sand as the bulls and the bears fight over the U.S. stock market's direction. It will face one of its stiffest tests next week with Greece's debt crisis appearing to reach a climax.

Angie's List picks BofA for August IPO: source

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Angie's List Inc, a website that compiles consumer reviews on everything from plumbers to pediatricians, has picked Bank of America Corp to steer its initial public offering planned for August, a person briefed on the matter said on Saturday.
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Private sector needed in Greek aid deal: Germany

All parties negotiating a new bailout for debt-strapped Greece agree that private creditors should be involved, but the details of how that would happen are still under discussion, Germany's finance minister said.
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Hackers might face stiffer sentences in U.S.

Even before a loosely organized group of hackers broke into the CIA's and Senate's public websites, the White House asked for stiffer sentences for breaking into government and private computer networks.
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Wall Street Week Ahead: Line drawn in stocks' battle

The S&P 500's 200-day moving average is the line in the sand as the bulls and the bears fight over the U.S. stock market's direction. It will face one of its stiffest tests next week with Greece's debt crisis appearing to reach a climax.
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Tepco to request loans from Japanese life insurers: paper

Tokyo Electric Power Co <9501.T> will ask major life insurers, including Nippon Life and Dai-ichi Life <8750.T>, for hundreds of billions of yen in additional loans as it faces big bills in restoring control over a crippled nuclear plant and paying for fuel costs for thermal plants, Japan's Asahi newspaper reported on Saturday.
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Convicted ex-broker's term likely to stand: judge

An ex-Credit Suisse AG broker convicted on multiple counts of defrauding institutional investors out of $1 billion is likely still to face a five-year prison term despite a recent appeals-court dismissal of one of his convictions, a federal judge said.
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Creditors pan Innkeepers' bankruptcy exit plan

Innkeepers USA Trust's plan to sell its assets and exit bankruptcy met a raft of objections on Friday as creditors prepared to hash out the merits of the sale at a confirmation hearing next week.
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Profitless Pandora pricks the tech bubble

It had all the signs of another dotcom bubble: A start-up without a convincing business plan or any foreseeable chance of turning a profit saw its shares soar in the first hours after its stock market debut.
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Moody's warns may downgrade Italy, economy fragile

Moody's Investors Service on Friday threatened to cut Italy's credit ratings in the next 90 days on worries that a possible rise in euro-zone interest rates may derail the country's fragile economic recovery.
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Special report: Government in cyber fight but can't keep up

The Pentagon is about to roll out an expanded effort to safeguard its contractors from hackers and is building a virtual firing range in cyberspace to test new technologies, according to officials familiar with the plans, as a recent wave of cyber attacks boosts concerns about U.S. vulnerability to digital warfare.
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N.Y. man gets 20 years for $24 million Ponzi scheme

With dozens of his victims watching, an investment manager once dubbed by the media as Brooklyn's Bernie Madoff, was sentenced on Friday to 20 years in prison for operating a decades-long Ponzi scheme that bilked hundreds of investors out of more than $24 million.
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Moody's says may cut Italy's credit rating

Moody's Investors Service on Friday said it may cut Italy's sovereign credit rating from Aa2, citing such challenges as reforming a rigid labor market while also facing the likelihood of rising interest rates.
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Deadline nears for many U.S-listed Chinese stocks

More than fifteen Chinese companies whose shares trade in the United States, many of them favored by short-sellers, have yet to file required year-end forms with U.S. regulators and the shares could face more downward pressure as deadlines approach.
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Greek reshuffle, Berlin-Paris deal ease euro fears

Greece's embattled prime minister sacrificed his finance minister on Friday to force through an unpopular austerity plan and avert bankruptcy, while EU powers Germany and France promised to go on funding Athens.
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IPO View: Profitless Pandora pricks the tech bubble

It had all the signs of another dotcom bubble: A startup without a convincing business plan or any foreseeable chance of turning a profit saw its shares soar in the first hours after its stock market debut.
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Dow, S&P end up, snap 6-week losing streak

The Dow and S&P 500 rose on Friday after France and Germany outlined an agreement to aid debt-burdened Greece, but analysts said a recent bearish trend may not be over.
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Payrolls shrink, jobless rates drop in many states

The number of people on companies' payrolls shrank in more than half the U.S. states in May, even though the jobless rates in many places continued to improve, Labor Department data released on Friday showed.
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FDIC, WaMu ex-CEO nearing settlement of lawsuit

Former Washington Mutual Inc Chief Executive Kerry Killinger and two of his top lieutenants are nearing a settlement with the Federal Deposit Insurance Corp over the failure of what was the largest U.S. savings and loan.

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