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Lagarde: Political clarity needed in Italian crisis

The head of the International Monetary Fund called on Thursday for political clarity in efforts to tackle the debt crisis that has gripped Italy, saying uncertainty around who would succeed Prime Minister Silvio Berlusconi was fuelling market volatility.

Eurozone Crackup Feared as Italy Teeters

Montecitorio palace is seen early morning before the start of a finances vote in downtown Rome
Political and economic crisis in Italy spurred fears of a split in the Eurozone with borrowing costs for Europe's third biggest economy at unsustainable levels and the bloc unable to afford a bailout.

Analysis: Olympus Scandal Puts Auditors Under Scrutiny

Olympus's logo is seen through its waterproof housing at an electronics shop in Tokyo
Olympus Corp's use of accounting tricks to hide big losses has raised questions about whether its auditors, the Japanese arms of global giants KPMG and Ernst & Young, should have done more to follow up on red flags.
Man looks at an electronic board displaying stock prices outside a brokerage in Tokyo

Japan Corporate Orders and Mood Sink; Tough Q4 Seen

A key gauge of Japan's corporate capital spending fell more than expected in September and manufacturers expect a further drop this quarter as business confidence sags in the face of the strong yen and slowing global growth.
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A port worker holds a radio as he works at a container area at the Yangshan Deep Water Port, south of Shanghai

China October Exports Growth Weakest in 8 Months

China's exports in October rose at their weakest pace in eight months, underlining official concern about the sector that has dragged on economic growth this year while imports jumped much more than expected.
U.S./Global stock markets

U.S. Stocks Plunge on Europe’s Debt Woes: What Should Investors Do?

The Dow Jones Industrial Average (DJIA) registered another difficult day Tuesday, plunging 389 points to 11,781 on institutional investor concern that Italy will not be able to service its debt, and that one, and possibly more countries may leave the Eurozone. What's the prudent stance for the typical investor?
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GM Outlook Disappoints, Shares Tumble

General Motors Co posted a lower third-quarter profit on losses in Europe and offered a disappointing outlook that raised doubts about the speed of its turnaround two years after emerging from bankruptcy.
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GM Profit Falls, Shares Tumble on Weak Outlook

General Motors Co posted a third-quarter profit that fell 15 percent after a loss in Europe and forecast that operating profit in the current quarter would be flat from a weak fourth quarter in 2010.
Diamonds

London jeweler Graff plans $1 billion HK IPO

London-based jeweler Graff Diamonds plans to raise about $1 billion in a Hong Kong listing next year, a move that could fund expansion in Asia and capitalize on booming gem prices.
Sony Buys-Out Ericsson’s Share of Smartphone Business

Ericsson sees weaker Q4 margin, cautious customers

Ericsson, the world's top mobile network gear maker, cautioned that new lower-margin business would hit profitability in the fourth quarter and the global slowdown could mean its customers spend less.
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Tencent reports 13.6 percent rise in Q3 net profit

Tencent Holdings Ltd, China's biggest Internet company by revenue, reported its slowest profit growth in four years, missing analysts' estimates on softer growth in its casual games and lower margins due to increased investments.
An Android smartphone displays the Google website in this picture illustration in Seoul

Google Offers Support to Android Firms in Lawsuits

Google Inc will continue to offer support to firms using its Android system that are involved in legal disputes, its executive chairman Eric Schmidt said on Wednesday, as the Internet giant looks to cement alliances in the face of toughening competition.
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Repsol Announces Huge Shale Oil Find in Argentina

Argentina's biggest energy firm YPF has announced that it had found nearly a billion barrels in unconventional energy resources in Patagonia. YPF is the Argentine unit of Repsol YPF SA, Spain's largest oil group.
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Apple iCloud - the New Digital Hub

Barclays Capital believes that iCloud could be Apple Inc.'s (NASDAQ: AAPL) most important new service since the launch of iTunes in 2003.
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Asian Markets and European Futures Rise on Berlusconi Departure

European shares looked set to follow Asian equities higher Wednesday and the euro steadied after Italian Prime Minister Silvio Berlusconi said he would resign, raising hopes the debt-ridden country would proceed with reforms that may keep Europe's debt crisis from spreading.
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Shares up on Italy reform hopes, cooling China inflation

European shares looked set to follow Asian equities higher on Wednesday and the euro steadied after Italian Prime Minister Silvio Berlusconi said he would resign, raising hopes the debt-ridden country would proceed with reforms that may keep Europe's debt crisis from spreading.

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