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GM to shut down Hummer after China deal fizzles

General Motors Co will wind down its iconic but tarnished Hummer brand after Chinese regulators rejected a $150 million bid by an obscure Chinese machinery maker to buy the money-losing SUV line.

GM to wind down Hummer after China sale fails

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ral Motors Co will wind down its Hummer SUV line after failing to complete a deal to sell the brand to China's Sichuan Tengzhong Heavy Industrial Machinery, the automaker said on Wednesday.
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Futures down on Fed's discount rate rise

Stock index futures dipped on Friday on a surprise announcement by the Federal Reserve that signaled to some investors that the central bank may be retreating from its easy money policy.
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Dollar climbs, commodities down on Fed action

The U.S. dollar rose to a 9-month high against the euro and commodity prices dropped on Friday after the Federal Reserve lifted an emergency lending rate for the first time since the financial crisis.
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Senate panel mulls watered down Volcker rule

Senate Banking Committee members are considering a watered down version of the 'Volcker rule' unveiled last month by the Obama administration to curb risk-taking by banks, sources familiar with the panel's thinking said on Thursday.
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Futures down after China ups bank reserve levels

Stock index futures fell on Friday after China surprised global markets by increasing banks' reserve requirements, raising worries about the impact of eventual monetary tightening on global growth.
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MySpace CEO steps down

News Corp has replaced the CEO of the social networking site MySpace less than a year after hiring him, and said a discussion of his priorities led both sides to agree to a parting.
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Lie down in long haul economy

Relax, snuggle up and sleep lying flat in new specially designed rows of seats on long-haul flights later this year with Air New Zealand.
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Financial reform talks break down in Senate

Bipartisan efforts on Capitol Hill to tighten financial regulation ground to a halt in the Senate on Friday, casting one of the top domestic policy priorities of the Obama administration in a stark political light.
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Dec consumer credit down for 11th straight month

A weak job market and tight credit conditions caused consumer credit to fall $1.73 billion in December, the eleventh straight monthly decline, a report from the Federal Reserve showed on Friday.
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Exclusive: Small business loan defaults down in December

Defaults by small and medium-sized U.S. businesses on loans, leases and credit lines to finance capital equipment investment fell for the first time in two years in December, adding to signs of a nascent economic recovery, PayNet Inc reported.
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Exxon quarterly profit down 23 percent, shares up

Exxon Mobil Corp reported a 23 percent decline in its fourth-quarter profit on Monday, topping Wall Street expectations, as weak demand for fuel in the global economic slowdown hurt the largest U.S. oil company's refining business.
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Exxon qtrly profit down 23 percent, shares up

Exxon Mobil Corp reported a 23 percent decline in its fourth-quarter profit on Monday, topping Wall Street expectations, as weak demand for fuel in the global economic slowdown hurt the largest U.S. oil company's refining business.
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Newell shares down on Venezuela hit to '10 profit

Newell Rubbermaid Inc posted a fourth-quarter profit on cost-cutting and lower raw materials prices, but the maker of Rubbermaid containers and Sharpie pens said the recent devaluation of Venezuela's currency would hurt 2010 results, sending shares down 4 percent.

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