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HSBC, Barclays profits hit by surge in bad debt

HSBC and Barclays on Monday reported a surge in bad debts to a combined $21 billion as recession took its toll on borrowers, but Britain's two biggest banks offered encouragement they could be through the worst.

Daily Forex Commentary-3 August 2009

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The Australian Dollar opens higher on Monday at 0.8355 after signs emerged on Friday night that the economic decline in the United States is moderating therefore reducing the allure of the greenback as a safe haven.

Roadside bomb kills 12 in Afghanistan's west

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A roadside bomb attack claimed by the Taliban killed at least 12 people in a key commercial city in western Afghanistan Monday, officials said, amid worsening security before a presidential poll this month.
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Iran tries 100 moderates over election unrest

The trials began on Saturday of 100 prominent moderates arrested shortly after Iran's disputed June presidential election and charged with trying to overthrow the clerical establishment, Iranian media reported.
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Unity Media prepares $1 billion listing: sources

Unity Media, Germany's No. 2 cable operator, is preparing for an initial public offering toward the end of this year, raising as much as 1 billion euros ($1.4 billion), people familiar with the matter said.
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Stanchart may buy RBS India, China retail ops: report

Standard Chartered is set to buy Royal Bank of Scotland's retail and small and medium enterprises operations in India, China and Malaysia for about $250 million, the Economic Times said on Friday, citing two unnamed sources familiar with the deal.
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Daily Commentary - 31/07/2009

The Aussie experienced a stunning turnaround in Asia yesterday rallying consistently throughout the day from 0.8140 to enter offshore exchange back above 82 cents. The local housing market continues to prove resilient as building approvals and housing finance data both came in higher than expected.
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EBay says no changes to Skype IPO plans

EBay Inc shrugged off speculation on Thursday that its planned spinoff of Skype could be in danger, given an ongoing dispute over the technology used in the online telephone unit and new plans to develop proprietary software.
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Daily Commentary - 30/07/2009

After attempting to retest the 83 cent handle in early Asian trade yesterday the Aussie dollar ran into some resistance, peeling back to settle around 0.8250 during the afternoon. Early European investors however sold the high yielder after concerns about the Japanese economy following the country's poor Retail Trade data, a much lower than expected German CPI reading and sharp declines in commodity prices.
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U.S. trust in business bounces back from low

Trust in business has rebounded from 10-year lows in the United States, but the majority of Americans still do not count on corporate America to do what is right, according to a survey released on Thursday.
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Asian shares gain, Shanghai see-saws

Chinese stocks see-sawed in skittish trade on Thursday, as the central bank reaffirmed loose monetary policy, while other Asian markets regained enough poise after the previous day's shakeout to edge back to 2009 highs.
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Hong Kong reports new H3N2 flu variant

Hong Kong has found a new variant of the H3N2 seasonal influenza virus, the spokesman for the Centre for Health Protection (CHP) said on Wednesday, urging high-risk groups to get influenza vaccinations.
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Japan carmakers in black, PSA, Daimler turn red

Japanese car manufacturers unexpectedly posted profits on Wednesday and Mercedes-maker Daimler forecast improving performance this year but clear signs of sustained recovery for the world's battered auto sector remained elusive.
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Daily Forex Commentary- Wednesday, 29 July 2009

The Aussie dollar appeared to be heading back below the 82 cent mark yesterday before comments from the RBA governor Stevens sparked a wild buying frenzy in afternoon trade. Speaking at a charity lunch his comments on the prospects for the local economy he said he can “imagine more upside risks to the economy to balance out downside risks”, a signal that rates are more likely to go up rather than down from here.
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Japan carmakers stay in black, PSA, Daimler turn red

Japanese car manufacturers unexpectedly posted profits on Wednesday and Mercedes-maker Daimler forecast improving performance this year but clear sings of sustained recovery for the world's battered auto sector remained elusive.

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