Financial News
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Nike Q3 beats Street view, shares sprint higher
(Reuters) 3-17-10 - Nike Inc (NKE.N) posted a net profit that beat analyst expectations, fueled by fewer clearance sales of merchandise and improving sales around the world, sending its shares up more than 3 percent.
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Arriva Gains Most in 15 Years After Takeover Approach
(Bloomberg) -3-17-10- Arriva Plc, the operator of Britain’s longest rail route, jumped the most in 15 years in London trading after the bus and train company said it had received a takeover approach from an unidentified bidder
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Stocks, Commodities Rise as Yen, Dollar, Default Swaps Decline
(Bloomberg) -3-17-10- Stocks rose, sending the Dow Jones Industrial Average to a 17-month high, and commodities rallied as a drop in U.S. producer prices underscored the Federal Reserve’s assessment that inflation is not a threat to low interest rates. The yen and the dollar weakened.
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Bernanke Says Fed Doesn’t Want to Be ‘Too Big to Fail’ Overseer
(Bloomberg) 03-17-10-- Federal Reserve Chairman Ben S. Bernanke said the central bank shouldn’t be relegated to the role of regulating only the largest financial firms, as proposed by a draft bill in the Senate
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Sallie Mae Plans First Bond Sale in Almost Two Years
(Bloomberg) 03-17-10 -- SLM Corp., the student lender known as Sallie Mae, is planning to tap the corporate bond market for the first time in almost two years with a $1.5 billion offering of 10-year notes, according to a person familiar with the sale
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Greece Keeps IMF Option Alive as Merkel Urges Caution on EU Aid
(Bloomberg)03-17-10 -- Greek Prime Minister George Papandreou kept alive the possibility of requesting International Monetary Fund aid as German Chancellor Angela Merkel cautioned against “hasty” decisions on European Union assistance for the country.
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Panasonic 3-D TVs Sell Out as ‘Avatar’ Technology Reaches Homes
(Bloomberg) 03-17-10 -- Panasonic Corp. said its 3-D TVs sold out in the U.S. in their first week, raising optimism the technology that helped “Avatar” break records at the box office will extend to living rooms and help boost profits
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Producer Prices Fall, Put Inflation Fears Further at Bay
(CNBC)03-17-10 U.S. producer prices fell more steeply than expected in February, posting their biggest drop in seven months as energy costs tumbled, according to a government report on Wednesday that pointed to scant inflation pressures
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China Says 'Cannot Be Any Clearer' on Yuan Rhetoric
(CNBC)03-17-10 China said on Wednesday it "could not be any clearer" in its repeated commitment to a stable exchange rate after the U.S. Congress threatened to levy duties on some Chinese exports if it fails to revalue its currency
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Deutsche Bank, JPMorgan, UBS Are Charged With Derivatives Fraud
(Bloomberg) 03-17-10-- Deutsche Bank AG, JPMorgan Chase & Co., UBS AG and Hypo Real Estate Holding AG’s Depfa Bank Plc unit were charged with fraud linked to the sale of derivatives to the City of Milan
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Honda recalls 410,000 cars in US
(BBC)03-17-10 Japanese car manufacturer Honda has announced it is recalling 410,000 cars in the US because of complaints about their brakes
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Japan's central bank seeks to boost lending
(BBC)03-17-10 Japan's central bank has increased a stimulus measure aimed at encouraging financial institutions to lend more
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EU attacks 'optimistic' economic outlooks
(BBC(03-17-2010 The European Union has criticised the UK and other European nations for having "optimistic" growth assumptions and bloated deficits.
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Lehman takes middle road on plan for creditors
(Reuters) 3-16-10 - Lehman Brothers Holdings Inc (LEHMQ.PK), which filed for bankruptcy in September 2008, wants to take a "middle of the road" approach to repaying creditors, hoping for a consensual outcome that avoids litigation.
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Dlr at 1-mth low on Fed, yen eyes BOJ decision
(Reuters) 3-16-10 - Dollar on the defensive on dovish Fed statement
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Senate bill would penalize China over yuan
(Reuters) 3-16-10 - Members of Congress on Tuesday threatened Beijing with duties on some of its exports if it fails to revalue its currency, pressuring the Obama administration to label China a currency manipulator.
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Hartford to Repay Treasury Rescue Within 10 Months
(Bloomberg) -3-16-10- Hartford Financial Services Group Inc., the bailed-out insurer that hired a new chief executive officer last year, plans to sell shares and debt to raise funds to repay its $3.4 billion U.S. rescue within 10 months.
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U.S. Economy: Home Starts Depressed by Winter Weather
(Bloomberg) -3-16-10- Housing starts fell in February as record snowfall in parts of the U.S. hampered construction, while fewer building permits signaled the recovery in real estate will take longer to unfold
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U.S. Stocks Rise as Fed Pledges to Keep Rates at Record Low
(Bloomberg) -3-16-10- U.S. stocks rose, with the Standard & Poor’s 500 Index reaching a 17-month high, as the Federal Reserve said it will leave its main interest rate near zero for an extended period to safeguard the economic recovery.
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