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Chinese one yuan coins are placed on 100 yuan banknotes in this illustrative photograph taken in Beijing

China?s Manufacturing Activity Falls: HSBC PMI

China's manufacturing activity fell in May compared to April and continued to contract for the seventh straight month, according to the preliminary HSBC Flash Purchasing Managers Index (PMI) released Thursday.
Traders on the floor of NYSE

Stocks Post Late-Session Recovery: Daily Markets Wrap

U.S. stocks cut losses late in Wednesday's trading session, with two key indexes barely squeaking into positive territory on the strength of surging commodities prices and the shares of companies that produce them.
Auto Factory

Strong May Car Sales Drive US GDP Growth: Kelley Blue Book

U.S. auto sales will likely reach a 14.2 million seasonally adjusted annual sales rate in May 2012, the greatest year-over-year gain in more than 12 months, as consumers take advantage of credit and low interest rates to replace aging cars. Moreover, increasing car sales are now a primary driver of U.S. GDP growth, according to a Wednesday report by Kelley Blue Book.
Mark Sullivan

Secret Service Director Apologizes For Prostitution Incident In Colombia

The director of the United States Secret Services apologized Wednesday for the actions of the agents implicated in the Colombia prostitution scandal last month, and told lawmakers that they didn't know yet of specific plans to protect the president when they met with local women who could have been a security risk
The Mazda MX-5 Miata will provide the architecture for a new roadster from Mazda and Fiat.

Mazda and Fiat Developing New MX-5 Miata Sport Roadster

Mazda Motor Corporation (Tokyo: 7261) and Fiat Group Automobiles S.p.A. (ETR: FIAT) will jointly develop and manufacture a new rear-wheel-drive, roadster sports car based on the next-generation Mazda MX-5 Miata for the Mazda and Alfa Romeo brands, the companies announced Wednesday.
China exports

World Bank Lowers China Growth Forecast, Urges More Asian Consumption

The World Bank lowered on Wednesday its 2012 China growth forecast to 8.2 percent from 8.4 percent on faltering demand for exports in the U.S. and Europe and a slowdown in the Chinese real estate market. The bank urged the entire region to focus on spurring domestic demand and reduce its dependence on exports.
Cocoa future prices fell Wednesday, as New York-traded commodity "softs" were among the day's biggest losers.

Commodities Battered On Global Sell-Off, Strong Dollar

Agricultural commodities, and in particular so-called softs like sugar and coffee, fell hard Wednesday as investors, eyeing the euro zone crisis, priced in the potential fallout on consumption of U.S. farm exports.

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