IBT Staff Reporter

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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.

Russia oil boss welcomes Dudley

Russia's top oil boss gave a cool nod of approval to BP Plc's new Chief Executive Bob Dudley on Wednesday, while praising his predecessor Tony Hayward, ousted over his handling of the Gulf of Mexico oil spill.

Drivers safer when using headlights on bad weather

The Motor Accident Commission (MAC) has declared support for a proposed law requiring drivers to turn on headlights during heavy rains at daytime as studies showed it lowers the number of injury and death on the road.

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.

Intel agrees to end chip war with rivals

Intel Corp has agreed to stop using threats and unfair discounts to block its rivals, resolving a costly, high-profile legal battle over accusations it illegally smothered competition for over a decade.

Obama says ong battle in Gulf close to end

BP Plc said on Wednesday it was close to subduing its ruptured Gulf of Mexico oil well, and the White House hailed the beginning of the end of efforts to contain the worst spill in U.S. history.

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...

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.

Google's Android leads U.S. smartphones

Smartphones running Google's Android software were the top seller among consumers in the United States in the second quarter, industry tracker NPD said on Wednesday.

Anadarko, Transocean shares up on spill news

Shares of Anadarko Petroleum Corp and Transocean Ltd , companies that may face liability related to BP Plc's Gulf of Mexico oil spill, rallied on Wednesday after an effort to kill the ruptured well showed promise.

Google's Android leads smartphones

Smartphones running Google's Android software were the top seller among consumers in the United States in the second quarter, industry tracker NPD said on Wednesday.

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.

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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