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An NEC logo in Tokyo

NEC Stuns Japanese Markets, Will Lay off 10,000

Japanese electronics giant NEC Corp. stunned the Japanese markets Thursday, announcing it expected to lose ¥100 billion ($1.3 billion) and lay off 10,000 employees globally next year. The view -- announced during the company's quarterly earnings release conference call -- was a wild swing from previous statements, where the company had set positive 2012 earnings guidance of ¥15 billion.
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Durables orders up, job market still healing

New orders for manufactured goods rose in December and a gauge of future business investment rebounded, while new claims for jobless benefits rose only moderately last week, suggesting the labor market was still healing.
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AT&T posts massive quarterly loss

AT&T Inc posted a massive quarterly loss due to a break-up fee for its failed T-Mobile USA merger and a pension-related charge on top of costly subsidies for smartphones such as Apple Inc's popular iPhone.
People shop in the newly opened Hennes & Mauritz (H&M) store in Moscow

Hennes & Mauritz Issues Gloomy Outlook

World No.2 fashion retailer Hennes & Mauritz (HMb.ST) said a gloomy economic outlook would keep demand subdued this year and discounting to shift unsold stock, which led to a surprise drop in fourth-quarter profit, had continued into January.
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Lockheed order backlog to cushion tough 2012

Lockheed Martin Corp , the Pentagon's largest supplier, forecast broadly flat sales and operating profit for 2012, with a record high order backlog helping it to cope with cuts in U.S. defense spending.
Trader reacts at his desk in front of the DAX board at the Frankfurt stock exchange

European Shares Gain on Fed Promise of Low Interest Rates

European shares rose on Thursday, halting two-days of losses, after the U.S. Federal Reserve said interest rates would remain low for a considerably longer period than expected and it is ready to offer additional stimulus to boost economic growth.
A trader at the NYSE

U.S. Stock Futures Rise

Stock index futures rose on Thursday, adding to gains from the previous session when the Federal Reserve boosted equities by saying it was likely to keep interest rates near zero until at least late 2014.
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MF Global casts spotlight on client fund rules

Three years after the demise of Lehman Brothers exposed problems in how brokers handle client funds, trading firms are still using lax rules to withhold cash owed to clients of failed brokerages, fuelling calls for reforms.
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China Slams EU Ban on Iran Oil

China Thursday criticized the European Union for banning oil imports from Iran, Beijing's third biggest crude supplier and a major trading partner.
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Fed stimulus pledge buoys stocks, Greece talks eyed

The euro held firm against the dollar, while European shares and gold moved higher on Thursday, after the U.S. Federal Reserve set out an unambiguously easier policy stance, but fears of a messy Greek debt default still haunt the markets.
Asian Stocks

Asian Markets Rise on Federal Reserve Rate Outlook

Equities, commodities and the euro extended gains Thursday after the U.S. Federal Reserve said it would keep interest rates low for a much longer-than-expected period, providing ample liquidity to help spur growth.

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