MARKETS / FINANCE

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Asia stocks cling to gains as U.S. data spurs dollar

Asian stocks rose on Thursday, buoyed by solid earnings from major exporters such as Toyota and chipmaker UMC, while upbeat U.S. economic data lifted the beaten-down dollar and eased some concerns about its recovery.

Asia stocks edge up as U.S. data spurs dollar

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Asian stocks edged higher on Thursday after solid corporate earnings, including from Toyota Motor and chipmaker UMC, and strong U.S. economic data that lifted the beaten-down dollar.

Dollar funding costs fall in Asia, NZ swaps ease

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The cost of borrowing dollars in Asian interbank markets fell to a three-month low on Thursday after recent poor economic data fuelled expectations the Federal Reserve would resume buying Treasuries to support liquidity.
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Gold stays up on bargain hunting

Gold prices edged up in Asian trade Thursday but holdings on the ETF fell marginally. Gold for immediate delivery was seen trading at $1194.77 an ounce at 12.00 noon Singapore time while U.S. gold futures for December delivery was at $1,196.5 an ounce on the comex division of Nymex.
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Gold steadies near $1,200; ETF holdings slip

Gold held steady on bargain hunting on Thursday after prices slipped below $1,200 an ounce but firm stock markets were likely to weigh, and holdings on the ETF fell slightly. Investors await the release of more data from the United States, particularly the payrolls report, which will offer clues on the health of the economy. Friday's government report on jobs may show a drop of 65,000 in July as census jobs dried up.
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Oil falls towards $82, capped by dollar, fuel stocks

Oil fell for a second day on Thursday, approaching $82, as dollar strength kept a lid on prices, neutralizing the effect of upbeat U.S. employment data and a drop in the nation's crude inventories last week. At the same time, U.S. stockpiles of gasoline and distillate fuels, including diesel, extended a string of gains, contributing to a mixed perception about the outlook for oil demand from the world's top consuming nation for the rest of the year.
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Geithner blasts Bush policies for debt

The Bush administration's misguided policies are to blame for huge U.S. budget deficits, Treasury Secretary Timothy Geithner charged on Wednesday as he sought to build an election-year case for ending tax cuts for the wealthiest Americans.
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Delta close to approval for JFK overhaul: source

Delta Air Lines Inc's $1.2 billion renovation of its terminals at New York's John F. Kennedy International Airport is expected to be approved on Thursday, a source familiar with the matter said on Wednesday.
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Daily Forex Commentary 5/8/2010

The Australian goods and services balance printed a trade surplus of 3.54 billion in June annihilating expectations of 1.81 billion.
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U.S. billionaires pledge fortunes to charity

Dozens of U.S. billionaires pledged on Wednesday to give at least half their fortunes to charity as part of a philanthropic campaign by two of the world's richest men -- Warren Buffett and Bill Gates.
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Clash on Israel-Lebanon Border Holds Potential for Strategic Escalation

The August 3, 2010, armed clash along the Israeli-Lebanese border was a significant strategic incident. On Thursday, July 29, 2010, Israel notified UNIFIL that a few Israeli soldiers would be crossing the security fence in order to cut a tree and remove a few shrubs in Israeli territory but near the Blue Line (the actual border between Israel and Lebanon). This foliage blocks the view of Israeli security cameras positioned deep inside Israel. Israel also notified UNIFIL that these soldiers would...
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Stocks rise on economic data

U.S. stocks rose in thin trade on Wednesday as retailers' earnings and a report showing a slight improvement in private employment boosted optimism ahead of Friday's payrolls report.
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RIM stock drops 4 percent on worries over Saudi move

Research In Motion stock tumbled more than 4 percent on Wednesday as mounting concerns that Saudi Arabia will block its service clouded any positive sentiment generated by Tuesday's launch of a new BlackBerry.
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Cuomo subpoenas GE Money and others over CareCredit

New York's attorney general on Wednesday said he has subpoenaed General Electric Co's GE Money lending unit and 10 health care providers as part of a probe into alleged predatory health care lending that may be driving seniors and other vulnerable patients into debt.
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Wall St advances on data

Slightly better-than-expected jobs and services data buoyed U.S. stocks on Wednesday, with Priceline.com's upbeat outlook lending support.
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Private sector sees job gains in July

Private sector employment rose slightly more than expected in July, easing some concerns about labor market weakness ahead of a key government jobs report later this week.
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Service sector expands in July

The services sector grew slightly more than expected in July, with new orders and employment rising in the latest month, according to an industry report released on Wednesday.
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Oil extends rally above $82 on lower U.S. crude stocks

The benchmark U.S. crude oil price rose a touch on Wednesday, responding to official figures showing a higher than expected fall in crude stocks. The optimism was, however, tempered by a rise in gasoline and distillate inventories.
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Gold breaks $1,200 in sixth daily rally

Gold rose above $1,200 an ounce in Europe on Wednesday as a swell of fund buying put the price on track for its sixth successive daily gain. A soft performance on the global equity market and expectations for a rise in Chinese demand were early drivers to the day's rally, although U.S. private sector jobs data pushed up the dollar and diffused some of gold's safe-haven appeal.
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Intel settles U.S. charges that it stifled rivals

Intel Corp has agreed to stop using threats and bundled prices to hamper competition, settling charges that it illegally abused its market dominance in microprocessors, the Federal Trade Commission said on Wednesday.
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More billionaires pledge fortunes to charity

More than 30 U.S. billionaires pledged on Wednesday to give away at least 50 percent of their wealth to charity as part of a campaign by investor Warren Buffett and Microsoft founder Bill Gates.

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