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ECB Cuts Rates to Record Low on Recession Fears

Mario Draghi speaks during a news conference at the G20 Summit in Seoul.
The European Central Bank cut interest rates by a quarter of a point on Thursday to counter the twin threats of recession and deflation in the Eurozone, and is expected to unveil fresh measures to help banks hurt by the bloc's debt crisis.
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Shopping carts are seen outside a new Walmart Express store in Chicago

Wal-Mart in India Deal is Off: PM Manmohan Singh Backs Off Foreign Retailers Plan

India has retracted its plan to allow foreign retail chains like Wal-Mart and Britain's Tesco to open in the country, according to multiple reports. The reversal comes less than two weeks after the global business sector and the Indian government heaped praise on the original deal to let foreign retailers into India to jolt the country's economy and lower prices for farmers and consumers.
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Paris, Berlin seek action on company, financial tax

France and Germany want a new EU framework to speed up progress towards a common corporate tax base and a financial transaction tax as well as convergence of financial regulation and labor market policies, a Franco-German letter sent on Wednesday to European Council President Herman Van Rompuy showed.
Colleges Buy Up ".XXX" Domains

.XXX Domains: Colleges Snatch up Porn Site URLs

One unlikely group has joined the scramble to buy up porn site URLs not that .xxx domains are up for sale by the ICM Registry: U.S. colleges and universities. Why did schools like Indiana University, Chicago State and Northwestern spend thousands on Porn Tuesday? Because college officials believe porn parodies under their name can't be far behind.
Raj Rajaratnam at sentencing

Hedge Funds Getting It From All Sides... Or Not

To hear it from one side, private equity and hedge fund managers are under a veritable siege: under attack from politicians, regulators, an ornery market and uneasy clients. But the hedge fund managers themselves seem to be saying all is good in Greenwich.
People work at a cafe in Taipei in this July 31, 2009 file photo.

Newer Economies Allow more High Tech Freedom at Work

Employees in fast-growing economies have more freedom over the technology they use for work than their counterparts in developed countries, and are more likely to see corporate provision of devices as a perk, according to a study.
US Navy test flies new drone stealth bomber

U.S. Officials Believe Malfunction, Not Iranians, Downed Drone

The unmanned U.S. drone Iran said Sunday it had captured was programmed to automatically return to base even if its data link was lost, one key reason that U.S. officials tell Reuters the drone likely malfunctioned and was not downed by Iranian electronic warfare.
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Finding Love Online: Will Controversial Regulation Prevent Dating Abuse?

There is nothing more unromantic than performing background checks on a potential date, but tales of dating abuse continue to horrify us, prompting governments across the world to introduce controversial regulations which mandates criminal background checks for every user signing up with dating agencies. The potential for abuse in state regulation of dating agencies is huge, as people could demand confidential information of others without proper justification.
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Europe probes publishers, Apple on e-book pricing

The European Commission is investigating whether e-book publishers owned by Lagardere, Pearson Plc, News Corp and two other firms fixed prices with Apple Inc, blocking rivals and hurting consumers.
Alan Brown

Schroders Plc Prefers Cash and Gold, Not Equities

Schroders holds the lowest position possible in equities and has extremely high levels of gold and cash, reflecting its concern about recession in the developed world and a failure to resolve the euro zone debt crisis, its chief investment officer said on Tuesday.
People walk past a board displaying exchange rates in a money exchange house at Times Square in New York

A Culture of Debt

At both the individual and collective level, Americans have created and embraced a culture of debt. Spurred by our gluttony, we have developed an untenable habit of spending beyond our means, and it must be stopped or else generations to come will be saddled with debt, left unable to harness the American dream and prosper because it simply will no longer exist.

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